<p>Hello all. It was recommend that I post here and try to gain some ideas from you guys. Basically, I've been put in a crappy situation college wise. I'm a junior who had applied to transfer to schools in southern california. I spent 2 years working towards it at a community college in NJ after a horrible time at another university that caused me to leave midyear. I took summer classes and graduated with my associates in 3 semesters. I also worked and volunteered during that time (both with animals as I plan on going to vet school.)</p>
<p>I got waitlisted at a small private (need aware) school because of my massive need for financial aid. My mother is a single mother after my father's death several years ago and has her own small business. A good private school costs more than what she makes in a year. I knew that I wouldn't get accepted off the waitlist with a need for financial aid (and this was later confirmed by the school), so I pulled my finaid app and decided to take out loans should I get in. It's a great school and a place that would make me a really productive student. My mother agreed that she would be okay with this, and so I went forward with the plan and got in. </p>
<p>So to sum it up, I'm all ready to go to school, but as I'm working on finalizing my private student loans (in addition to the pell grant and federal loans), I find out I can't get anything from any bank. As a 20 year old, I have no credit, but with my mother's poor credit, she can't cosign. I have one other relative and they didn't offer. Everyone else is dead so obviously they're not useful. A parent loan obviously won't work either. And a payment plan is out of the question because I don't make more than a few thousand a year. Additional government loans also won't make any type of dent in the current 45k that I'm short for tuition. At this point, my school has basically told me to just get lost and try re-applying. </p>
<p>So basically, there goes 2 years of work down the toilet. Is there ANYTHING anyone can think of that could help me get a loan? I don't mind the debt, as I'll be going to vet school (though who knows at this point) and will have tons of debt anyway. I just want a great school where I can finally take good classes and enjoy life. I'm really at the end of my rope here, so please let me know, other than robbing a bank, I have no ideas. Thanks.</p>
<p>Sorry for your tough situation. Concur with misterK in that there are tons of wonderful schools, often right in your own backyard. Can your mom help you look, what about the cc that you attended? Your work is definitely not wasted - stay on goal but adjust to the changes. Will help you all your life to be able to do this even though not easy. </p>
<p>Since you’re going to vet school, it might actually be better to go to a cheaper school for undergrad so that you can comfortably borrow as much as you need for vet school. No bank is going to give a more-or-less unlimited amount of money to someone with no credit history and no cosigner – it’s too big a risk for them. Going to a more affordable school will put you in a better position to save up to defray the costs of vet school and even build up a credit history so that you can get a student loan then if you need it. Unless you win an outside scholarship of some kind, you probably won’t be able to afford this school. </p>
<p>Your community college might have a transfer articulation agreement with a state school, and some of those can come with their own scholarships for graduates. If you still have $45,000 to go after subtracting Pell and federal loans, this school isn’t really affordable.</p>
<p>Boston. I do feel badly for you in your current situation. BUT you knew that this CA school was costly…perhaps too costly…and you decided to rely on loans just to be accepted. Your debt situation is really very high (in my opinion). If you are Pell eligible, the idea of financing the remainder of your college costs with personal loans, and college loans is…well…not a good one in my opinion.</p>
<p>There are many places where you could obtain a bachelors degree and then apply to vet school. You do NOT have to go to a college in CA…that is not affordable to you and your family. Please…look for a less expensive option and save your borrowing for vet school.</p>
<p>In total agreement with the previous posters. You can’t afford this school. $45k a year (presumably on top of any federal loans you are eligible for) is a truly ridiculous amount of debt to take on. You may think now that you don’t mind the amount of debt, but you will regret it down the road when you are drowning in high monthly payments for over a decade. The fact that you want to go to vet school makes it even more important that you don’t saddle yourself with excessive debt for undergrad school, as you will probably have to take on more debt for vet school.</p>
<p>You need to look for a school that is affordable for you. You have not wasted 2 years. But you have been rather unrealistic and unpractical when it comes to the idea of going to California to finish your education. No bank is going to lend a student that sort of money unless they have a cosigner that has a good enough credit rating to qualify. That is because as soon as you miss a payment, the bank can go after the cosigner and their assets . (Cosigning is very risky as one missed payment by you can ruin the cosigner’s credit before they even know you have missed the payment *and * the cosigner is completely responsible for the loan if you do not pay or if something happens to you. Most people with any understanding of finance will not cosign a loan, so I completely understand why your relative is not offering - I would never cosign for anyone, including my own kids - I would lend them (my own kids) money myself if I could afford it, but cosign - no).</p>
<p>OK, here’s a suggestion-
Try applying to USC[ university of southern calif] as a transfer student. They are need blind for transfers, have a great FA program, accept about 1000 transfer students each year, and if accepted, you’ll have the opportunity to get the education you want and [hopefully] can afford [ in souhtern calif! ].
Under NO circumstances should you go to a college you can’t afford.</p>
<p>Sorry to sound harsh, but assuming that you could get large loans without a qualified co-signer means that you didn’t do your homework. </p>
<p>I find it interesting that your mom was “on board” with all this borrowing, yet she has lousy credit herself. Why take her advice??? She doesn’t have the moral authority to give such debt encouragement.</p>
<p>You need to back out, and reapply to affordable schools or schools that meet need.</p>
<p>1) instate publics
2) Cornell
3) USC</p>
<p>there are probably some others…maybe Vandy.</p>
<p>BTW…this is a blessing in disguise…that was too much debt…especially if vet school is in your plans.</p>
<p>Boston, if you are in Boston, do check out Harvard night school. No kidding. They do have some degree plans for local folks and when you graduate, it says “Harvard” on the degree. </p>
<p>Education is never wasted. Take a look at some of the vet schools and see if they all require that you have a four year degree. Some may not – particularly if you have work experience with animals. </p>
<p>Also, look at colleges that are competence based or will give you credit for life/work experience. For instance, we have WGU here in Washington State that is a nonprofit, accredited college on line (please be very wary of for profit on-line colleges). We also have Evergreen State College which will give credit for certain work/life experiences. </p>
<p>I agree with Mom2collegekids. As awful and as frustrating as this is right now, the long term picture is better. You are going to skate around being massively in debt when you apply to vet school by getting your degree, in some fashion, other than CA at $45K a year. </p>
<p>I see a false assumption in your post. You say write “I knew that I wouldn’t get accepted off the waitlist with a need for financial aid (and this was later confirmed by the school), so I pulled my finaid app and decided to take out loans should I get in.”</p>
<p>That business of not getting accepted with a need for financial aid may be true for that ONE college but many colleges are need blind. I.e., the fact that you need aid is supposed to be independent of admission. I would run like heXX from that college (sorry, it is too pricey and they are not helping you) and look for another choice. Either an affordable public (about $20K a year – and you might get a Pell for $5 of that) or look for a well heeled private (they do exist). </p>
<p>Please don’t think that “privates are better” – for vet students, the state land grant universities often have animal science, wildlife and fisheries and ecology/zoology departments that privates don’t have. Think Texas A&M or Washington State Univ… Many times the privates are more structured towards “pre med” – which can do an ok job for pre-vet – but an “Animal Science” or “Wildlife” degree might get you more hands on animal work (other than slicing up the dead cat in anatomy).
Good luck. Hang in there.</p>
<p>I’ve heard the go to another school speech at least a dozen times. Worst case scenario, I will got to Rutgers. But it’s way too big and I hate NJ with a loathing passion, so you can see why I might not want to stay. I’d also like to enjoy my college days, another reason why I want to go private. I know what works for me and that’s it. The last 2 years at a CC have been a joke. The classes are easier than my freshman high school classes and I have limited hope for the huge class sizes at Rutgers. Those just don’t work for me. I did that and it was the worst 3 months of my life. You could see why I might not want to return to that kind of thing. </p>
<p>I appreciate the ideas but Cali is where I want to go and I’m going to find a way to do it. I’m reapplying to the school as we speak, as well as to other CA schools. I’m going to be drowning in debt anyway and life sucks and then you die. That’s how it is and it’s not going to change. I was however mistaken that things might work out for awhile. But I’m well used to it by now. Thanks again :-).</p>
<p>I was going to pile on with the whole, “don’t go into that much debt” speech again, but I doubt it’ll really make any difference now (It almost never works, ha ha!). So I’ll just wish you good luck. I really hope you manage land some decent-sized scholarship somewhere in California, or somewhere else where you’ll be happy and successful.</p>
<p>If you think life sucks now, just wait until you are struggling to make $1300 a month in loan payments every month for at least ten year of your life to pay for enjoying 2 years in a California college (and that does not take into account any loans from you CC days or for Vet school - though those plans will probably be difficult to follow through with if you already have over $100k in debt out of undergrad).</p>
<p>I wouldn’t have 100k from undergrad. And I know what loan payments would be. I also know what a salary would be. But I do appreciate the condescension and assumptions.</p>
<p>What assumptions? I thought you were trying to borrow $45k a year on top of federal loans (isn’t that what you said in your original post?). That will exceed $100k over 2 years, especially if you are unable to pay the interest on the loans while you are in school. As I am sure you know, the interest will be added to your debt and you will pay interest on the interest. ($45000 for 2 years plus compounded interest at say 8% will be around $100,000+ by itself at the end of 2 years, plus any federal loans you may have). </p>
<p>If I seemed condescending, it was not my intention. I just find the amount of debt you are willing to take on quite horrifying. And, no, I honestly don’t think you really have any concept of how crippling such debt will be and I do think you will come to really regret it in the future. Maybe that seems condescending to you, it’s not intended to be, but it is what I believe. I would have extremely strongly discouraged my own kids from taking on anything like the debt you are considering. My daughter thinks she has “a butt load” (her words) of debt with around $20,000, and my son is trying to pay his $9000 off as quick as possible because he doesn’t like having even that much debt. So having $100k for just 2 years - that’s horrifying to me.</p>
<p>Anyway it seems like you have got a lot of good advice here, and you have apparently (based on one your above posts) heard the same thing before from other sources. Apparently it is not what you want to hear, so really I am wasting my breath. So I’ll just wish you the best of luck. I do hope you can follow your dreams without the huge debt. Good luck.</p>
<p>Boston, no one is going to give you that kind of loan money. Basically, banks lend $ to people who can easily pay them back. It doesn’t matter if you agree or not-- that’s the way it is. You have to find a school that is willing to give you $ to go there or where you can work and pay off the school. They’re not all huge schools. They’re not all state schools… but you do have to be flexible. Look for schools where your gpa and test scores put you in the top range and find out if they have transfer scholarships. Call up financial aid offices and ask them about their need-based aid for transfers.</p>
<p>Boston, before you set your plans in stone…you need to find out IF you will be able to get those loans. If you can’t get the loans (you WILL need a cosigner) then you will have to come up with a “Plan B”. Sorry…but those are the facts.</p>
<p>So…go to a bank or someplace…and apply for a loan in the amount of $45,000…just try it. My guess is you will quickly see that this isn’t going to be possible to get. OH…and do tell the loan officer that you will be coming back a year later for an ADDITIONAL $45K. See what the loan officer says.</p>
<p>I know you’ve seen this analogy before but here goes again…</p>
<p>I was looking at new cars this week…and to be honest, I would love an Audi A4 Quattro…a brand spanking new one. I KNOW this is what will make me happy because it has everything I need and want…leather seats, four wheel drive, a great stereo. BUT it’s about $40,000 trimmed out the way I want…OH…and it takes premium fuel so it costs a lot more to run. I’ll be getting a Toyota or Honda or Subaru…because it’s what I can AFFORD to purchase.</p>
<p>If you love the idea of being in CA, by all means, move there. I’ve heard southern CA described as NJ with sunshine. (Tons of people and some of them not very nice). It is an expensive state to live in and the state is struggling with horrific budget cuts and a huge immigrant population (ie, don’t count on being able to pick up part time work easily). </p>
<p>The one aspect that comes to my mind as you are so determined to do things “your” way is that you might be shooting yourself in the foot when it comes to vet school. Colleges and grad school programs are aware that they are pricing themselves out of business. They need graduates who not only can get jobs but also are ready to become Dear Old Alums who will contribute back to the university in the decades ahead. I predict that medical schools and vet schools will be finding ways to ask what the debt load is of each applicant (if they don’t already – when you provide your SSN on the application, they can run a credit check). </p>
<p>Why should they take Boston who is a recent grad with a $100K debt load when there will surely be another stellar candidate who owes nothing or a much more manageable $20K? (the stellar kid who went to an affordable public). </p>
<p>Furthermore, even if the vet school doesn’t look at debt load and accepts you, what banker is going to finance your four years of vet school? Vets can make good money but that same banker will have the option to loan to a medical student who will have a better outlook on paying back on schedule. </p>
<p>So, it might be fun to save this thread and check back in three years and see who was right. Good luck.</p>