<p>Hi,
I want to attend Embry-Riddle Aeronautical University in Daytona Beach this following year. My intended major is Aeronautical Science which is basically flight. The college tuition plus room and board, books, and extra flight costs based on my major end up costing me a HUGE $48,000 a year. I only have about $15,000 saved up and i live in Georgia so i dont think HOPE is any help. Is there anything i can do to help? I plan on joining Air Force ROTC which offers scholarships for tuition and can potentially pay full tuition, but there is still about $15,000 a year added in flight costs and room and board. I really want answers as to what i can do to make it possible to go there. Even if it means taking out a loan and owing money after i graduate, it just can't be an ungodly amount, especially with the economy the way it is. </p>
<p>Go to the FAFSA4Caster: FAFSA4caster</a> - U.S. Department of Education. Put your family's info into the forecaster & you'll get an idea of what federal aid you might be eligible to receive. Then look at Embry-Riddle's financial aid info to see if there are any available grants & scholarships. This will give you a realistic idea of what your financial aid picture might be. You can also apply for local & national scholarships to help supplement your education. After you gather your info & talk to your parents about their ability to help you, you will have a pretty good idea of your financial picture. In the end, only you can decide if ER is worth whatever you might have to borrow. You can find out how much your monthly payment would be on any loans, too. </p>
<p>If the school is more than you can afford, you have a few options. You can work like crazy every summer trying to make as much money as you can - live frugally - maybe even take a year off to make money. Or you might decide to start out at a less expensive college to do some of the coursework & then try to transfer. Or you might decide to find another, less expensive school with a similar program. Only you can decide what will be best for you.</p>
<p>The ER website has information about Federal, State, and ER grants/scholarships but most of the State ones are Florida residency related i believe. For some reason they have Georgia HOPE on the list but i don't understand why because i dont think it applies to out of state colleges and i think my councilor has told me that before too.</p>
<p>And my parents are retiring after i graduate and they're saving up right now, so they cant afford to give me any money. The $15,000 is all i have.</p>
<p>Right now i'm trying to finish my application for the Air Force ROTC scholarship and i'm looking for other scholarships that can drop the cost for at least the first year.</p>
<p>First of all, spend down that $15K, you have saved up and let your parents start accumulating those amounts you are spending for a college fund for you but in their name. They are only assessed 5.6% at most for their savings whereas you get hit a whomping 20%. Do an online evaluation of how much aid you can expect from the govt by putting in family numbers and estimating income and assets as of the end of the year or beginning of next year (FAFSA comes out 1/1). What are your parents willing to contribute towards your education? Are they willing to borrow money? Can you start working part time after your apps are in to start earning more money towards college? (You may want to pay rent so the money accumulates with your parents, not you). You can most likely borrow unsubsidized STafford but subsidized would be helpful. In your case, borrowing the first two years, and getting money from ROTC would be great, because once you get your pilot's license and teaching license, you'll be able to work part time teaching flight for a decent amount of money. My friend's son did this and got through his last two years pretty much on his own.</p>
<p>
[quote]
Scholarships
There are 4-year, 3-year and 2-year scholarships available. The AFROTC scholarship program provides full tuition, lab fees, and money for books. As a scholarship student, you also receive a $300-500 non-taxable stipend each month. The Air Force awards scholarships on a competitive basis to students at UND and across the nation.
[/quote]
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<p>Room and board are inexpensive at UND. The stipend is nice. I am not sure about flight costs.</p>
<p>$48K is a lot of money.
Do you have any idea how much entry-level pilots earn, assuming they can find a job?
The answer is, not as much as most people think. Look into it.</p>
<p>The AF ROTC scholarship is very competitive, I hope you get it. Get your application done ASAP. </p>
<p>I think you should work directly with the financial aid office at ER. Either call them or visit and explain to them your situation. They can help you.</p>
<p>BTW - the program at UND is world-renowned.</p>
<p>An AFROTC scholarship requires you to serve in the USAF for 4 years - you will be guaranteed a job with a pretty decent paycheck.</p>
<p>Starting pilot salaries are as low as $15K.<br>
I have two relatives who are pilots and certified flight instructors at a well-regarded state university flight program. They tell me that many of their former students find that pilot salaries do not pay the bills, and they have to take on second jobs. You should run the numbers to see whether taking on significant amounts of debt in order to attend a private university for a flight program makes sense.
Also, consider the Air Force and Naval Academies.</p>
<p>The general rule with loans is not to borrow more int total than you expected salary after graduation. The comments above are great - makes you think.</p>