<p>I don’t know much about transfer aid. You might want to start a new thread on that question. Call Syracuse again and ask them what the problem is. Also something must be wrong with your documents because BU usually gives significant aid to someone with your stats. Maybe call them and find out what went wrong, and, of course, accept your position on the waitlist at Richmond. Stay in touch with them.</p>
<p>Um…my SATs are 2130 in one setting. Rank is Top ~10%.
Parents are willing to pay 10k out of pocket per year even though we are poor.
I am also willing to loan 10k a year.</p>
<p>you can borrow Stafford loans for $5500, $6500, $7500, $7500 total. You might also get some Perkins loans.</p>
<p>If your parents are poor, where will they get the $10k per year from? That seems unrealistic…usually poor people can barely pay for their own basic living expenses.</p>
<p>Where all have you been accepted? </p>
<p>What is your financial safety school?</p>
<p>What is your home state?</p>
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<p>At schools that meet 100% demonstrated need with no loans (ex. Amherst, Williams, etc) there are going to be a large number of students presenting these stats. A large number of students will be presenting higher stats. Even then, these schools are essentially a reach for very student who applies.</p>
<p>If student is looking for merit $ s/he may have to come down a notch and may have to spread a wide net amd not apply to the “usual suspects”. Still even with merit money it does not mean that the full need will be met.
As others have stated unfortunately, most schools do not have the endowments to fund every needy student.</p>
<p>it aint easy, but in many states you gotta go for it when youre low income or, like this poster, you’re going to the local cc. In fact, assuming we have accurate info in this thread, it is pretty much the perfect example of why you need to do a lot of pre-app research if you are low income with good stats. And even with all that, opportunities for a decent finaid package are declining every year.</p>
<p>I wish I could offer some wise advice to this poster, with her stats, she certainly is qualified to go to an excellent college, but I have no great solutions.</p>
<p>why you need to do a lot of pre-app research if you are low income with good stats</p>
<p>Very, very true. It’s also true if you have an EFC that you can’t afford. </p>
<p>Many, many kids refuse to consider cost and/or family finances when they are creating their lists. </p>
<p>This is the time of year when we see the heartbreaks…kids getting FA packages that aren’t affordable, kids finding out that they have EFCs that their parents can’t/won’t pay, kids finding out that they don’t really have financial safety schools, kids finding out that they can’t/shouldn’t take out huge loans, etc.</p>
<p>I know Michigan doesn’t give full need. I knew that when I applied there. Long story why but I said “what the hell, I’ll see what happens” and applied anyway. I had no intention of realistically paying for it. Just seeing what would happen. </p>
<p>I was simply providing an example of a public university with a high OOS cost. Anything to help others get an idea and paint a realistic picture of what will happen.</p>
<p>These days most low income kids can’t even go to the instate flag let alone oos.</p>
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<p>Agreed, and this is extremely problematic. There are some in state schools with great financial aid packages for low-income students (UVa, Chapel Hill, and College Park come to mind), but those schools are worthless unless the low-income student is also fairly high-performing. Many people think that financial aid is very generous for low-income students, but that simply is not true. Those few of us who manage to be extremely high-achieving despite our socioeconomic status receive excellent financial aid awards at schools like HYPS, but that does nothing to make a dent in the population of low socioeconomic status students who are unable to achieve even the most basic social mobility. Even CC –> in-state can involve a lot of loans for low-income students. For me to take that route, it would have cost at least $30,000 in loans.</p>
<p>^^Yes, but $30,000 in loans is about what many, many kids take on in the form of Staffords for all 4 years. $30,000 is probably the equivalent to one year’s salary straight out of school for the vast majority of BA/BS holders, engineering, pharmacy and a few other career track degrees are somewhat higher with starting salaries.</p>
<p>We’re probably wandering off topic here but I’ll comment on #29. Many low income kids are going to end up with $30,000+ in loans, that’s becoming the standard for middle income kids too. But I’ve seen data that indicates that the percentage of low income kids that actually enters post secondary programs and graduate with any kind of post secondary degree is only around 25%. That’s a tremendous number of non-graduates most of whom owe a lot of money. $30,000+ in loans for HYP etc or even the state flag is one thing but $30,000 for a lower level state or a cc were the graduation rate is 30% for everybody and single digits for low income kids is another story. Realistically it may not be worth the risk. In today’s economy one might wisely suggest that a low income kid would be better off in the trades.</p>
<p>I’ve also seen a number 6% of all low income kids entering high schools that will graduate with a degree within 10 years. These kind of stats are pretty mind blowing when you really think about it, especially in the context of many of the conversations we have here on cc. And when I see a poster who is low income and has the stats to go and still fails to negotiate the system it’s certainly disappointing. Without the sour grapes or the entitlement whining, I think there is something fundamentally wrong with our current system. The bias is too blatant, too pervasive and too extreme. When it comes to access to higher ed, money does a lot more than talk.</p>
<p>^^I agree, the statistics on the graduation rate and what that $30,000 in loans achieves is important.</p>
<p>Wow speedo… thats deep stuff. One of the best posts I have ever read on here</p>
<p>I live in Massachusetts. My financial safety is UMass Amherst, which is very affordable for me. I also got into UConn.
My dad makes 30k and my mom has a part time job at KOHLs. A lot of the $ goes into paying off our house, but I guess they could put less $ into the house. Also, our restaurant is undergoing renovations but they’re hoping to have a bigger profit once it reopens. They think they can pay 10k, and I don’t mind being 40k in debt at graduation.</p>
<p>Here’s my NYU package:</p>
<p>CAS Scholarship = 11,000
Provost’s Grant = 1,000
University Grant = 3,300
Expected ACG Grant = 750
Expect FSEOG Grant = 4,000
Expected Pell Grant = 4,600
Federal Work - Study Eligibility = 4,000
Direct Stafford Loan = 3,500
Direct Unsubsidized Stafford Loan = 2,000
Direct PLUS Loan = 21,916</p>
<p>Total Awards: 56,066</p>
<p>^So I have like 10k in loans (work study is basically a loan at NYU) and my parents have 20k). However, does it really cost 56k? isn’t the number that high because they always max out the work study at 4,000, but technically I don’t owe that much?</p>
<p>Also: Why did I not get the full pell grant if my EFC is 0? I should be getting $5500. Do you think an appeal for a couple thousand more will work?</p>
<p>Here’s my NYU package:</p>
<p>CAS Scholarship = 11,000
Provost’s Grant = 1,000
University Grant = 3,300
Expected ACG Grant = 750
Expect FSEOG Grant = 4,000
Expected Pell Grant = 4,600
Federal Work - Study Eligibility = 4,000
Direct Stafford Loan = 3,500
Direct Unsubsidized Stafford Loan = 2,000
Direct PLUS Loan = 21,916</p>
<p>Total Awards: 56,066</p>
<p>^So I have like 10k in loans (work study is basically a loan at NYU) and my parents have 20k). However, does it really cost 56k? isn’t the number that high because they always max out the work study at 4,000, but technically I don’t owe that much?</p>
<p>Also: Why did I not get the full pell grant if my EFC is 0? I should be getting $5500. Do you think an appeal for a couple thousand more will work?</p>
<p>Sounds like you have more resources than your efc suggests. Good luck to you on your college choice</p>
<p>Oh we only own 30% of the restaurant. And it has like 3 employees. It’s pretty sad…</p>
<p>Commie, bottom line is your parents will have at least $80,000 to pay for you for four years at NYU. Are they prepared to do that? That’s all that matters from your perspective. If they can’t then you have your answer. And you’ve got $5500 this year and likely as much or more in the coming years 2,3 and 4. You’ve got $4000 for your spending money via work/study or you’ll need to work this summer to save enough for books, transportation and spending money.</p>
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<p>I’m not disagreeing with you. However, loans are especially toxic for low-income students, who usually have no safety net. I could not reasonably recommend or sanction any debt over $20,000 for a low-income student. But yes, that is my opinion.</p>