Advice on student debt

Hello,

I have been recently accepted to UC Irvine as a transfer comp sci major. My parent’s income is 120k/yr, and my fafsa efc is 11.9k, disqualifying me from pell grant. I suspect my cal grant a (cc reserved) to be taken back due to my parents’ income, so I think I only qualify for the middle class scholarship grant.

I’ve used UCI’s net cost calculator and it says that I’ll most likely be paying 20k-21k/ yr. UCI says that transfer comp sci majors usually take 3 years to complete their degree, so my question is: Is ~60k debt worth it?

I understand that I might be able to dent the debt through working in the summer, spending wisely, but I feel like it’s still a lot. I am really looking forward to going to UCI, and my parents are supporting me for it, but I don’t think I’ll have the luxury to work from my parents’ home to pay off my debt and I think that the debt will smack me pretty hard. I have a sister who’s going to transfer from a CC in a couple years as well.

Your parents aren’t going to help at all?

Have you spoken to your parents about how much they are willing to pay. the NPC you filed out said it might cost about $20K/year. Can your parents afford that? Your EFC of 11K might not be that relevant if UC Irvine will not meet full need. Most schools do not.

You can only borrow about 5k the first year. Your parents will need to kick in the other $15k. Is this doable for them?

Oh, sorry! Yeah I believe they’re going to help me, but I’m not sure how much they can afford

That is good. Some kids get no help at all.

Once the full package comes in the mail (scholarships and any financial aid) figure out the bottom line and discuss with your parents. This is not something you can accomplish on your own. You need their help.

Good luck. :slight_smile:

Thank you for your help :slight_smile: