<p>So I got rejected by all my schools except BU and UMichigan.</p>
<p>BU gave me only 13100 dollars.
UMichigan is cheaper they gave me a total of 25822 dollars (including loans).</p>
<p>Michigan is 44722 total for cost of attendance.
My loans are:
Perkins: $500
Stafford Subs.: $3500
Stafford Unsubs.: $2000</p>
<p>Which means I'll need to get a loan of $18900 a year. All 4 years is $75600 dollars total in debt (from the loaning agency).
Plus $2000, $14000, $8000 dollars.. but that's on different interest rates.</p>
<p>Is it worth it? I have no other choice...</p>
<p>And I really want to go to law school... I really want to attend before my 30s w/ my debt, hopefully, fully paid off (I know it sounds silly).</p>
<p>What should I do? I'm worried I won't be able to pay it off. My parents are totally against helping me with my loans/debt.</p>
<p>$75,600 + law school in debts? That’s pretty steep! </p>
<p>If I were you, I would try to explore a few other options. Your parents won’t help you with college payments at all? Maybe taking a year off and deferring admission would be an option to consider… you could spend the year working and hopefully cut into the debt a little. Or, next year, you could apply to an in-state school where you would have much less to pay.</p>
<p>How will you get the loans, and they will grow every year, if your parents don’t want to help? In this market, other than the Staffords and Perkins, loans are hard to get.</p>
<p>How about community college next year and reapplying to affordable state schools?</p>
<p>Did you apply to any public schools in MA, where you live? With a 0 EFC, that would likely be a very winning strategy in the FA game! If I were your parent, I would be strongly opposed to loans of that magnitude and would suggest that you very quickly look for instate alternatives for at least 2 years. I doubt they’re totally against helping you, but likely don’t have the means to help you with loans and don’t want you to bury yourself in debt at the starting gate. You need to be realistic! Attorneys often do not have high starting salaries and you can’t afford either of these schools.</p>
<p>Your parents refuse to pay for your college? Did you know this before you applied to schools? If so, did you apply to schools that could possibly give you merit aid? Hope this wasn’t a surprise to you. There are parents out there that are surprised that have to pay for their kid’s education.</p>
<p>It is more than that. $75,600 is only the GAP loans. Don’t forget the $22,000 of stafford loans, for a total of $97,600. My first house cost less than that, and I never had a mortgage larger than that.</p>
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<p>Very unlikely to be paid off by then from your wages. You could possibly win the lottery.</p>
<p>Better option would be to attend your State’s school (or a state with reciprocity). Do well, and have lower loans when you graduate. Then you will be in a position to attend law school.</p>
<p>Well right now… I’m applying for scholarships totaling up to $10,000. & I’ll continue in college. I just spoke to my parents about this… they’re okay with $5,000 a year. But the thing is… they barely have enough to even pay the monthly mortgage bill.</p>
<p>I’m trying to request Michigan to reevaluate my financial aid because I don’t think they saw my family’s decrease in income of $6000…</p>
<p>My state university doesn’t offer what I want to study.
I was thinking about sucking up to a year’s debt of $24,000 and then transferring someplace else like USC, Penn, Georgetown, Cornell.</p>
<p>I feel so tormented by this. Thanks for everyone’s insight.</p>
<p>If none of your state universities offer what you want to study, you need to find out which regional tuition exchange agreements your state participates in, and find out which cooperating public universities in those other states offer that program. </p>
<p>For MA residents, this would be the New England Board of Higher Education:</p>
<p>"Well right now… I’m applying for scholarships totaling up to $10,000. & I’ll continue in college. I just spoke to my parents about this… they’re okay with $5,000 a year. But the thing is… they barely have enough to even pay the monthly mortgage bill.</p>
<p>I’m trying to request Michigan to reevaluate my financial aid because I don’t think they saw my family’s decrease in income of $6000…"</p>
<p>Your parents obviously are struggling, so I think it would be a bad idea to take money from them for your college.</p>
<p>Michigan doesn’t guarantee to meet 100% of students’ demonstrated financial need.</p>
<p>It may be wise to take a gap year, work, and apply to some 4-year colleges that you know that you can afford (because, for instance, they meet 100% of students’ demonstrated need).</p>
<p>Another option would be to live at home while going to community college to get your associates degree, then transfer to a 4-year school that you know you can afford.</p>
<p>What do you expect to earn right out of college?</p>
<p>$1,700/mo is $20,400/yr AFTER TAXES. Let’s say you make $50,000/yr (which is a great salary for someone just out of college), that is about $40,000/yr after taxes.</p>
<p>Rent is about $1,000/mo
Utilities/insurance/etc $300/mo
Food $200/mo
Transportation $150/mo
Total: About $1,650/mo, or $20,000/yr</p>
<p>I hope you don’t mind not buying any clothes, visiting the family out of town, going out with friends, etc.</p>
<p>If you were going to be an accountant or engineer, it might be possible. I doubt a pre-law type degree will get you there.</p>
<p>THis is insane. An adult needs to give you a reality check here. That much debt will cripple you for the rest of your life. It will affect when/how you get married, what jobs you can get, graduate school, buying a house. It is absolutely not worth it. I am a recruiter for a large law firm. The industry is contracting violently right now and it may not come back to where it was for many years, if ever. You won’t be able to pay off those loans.</p>
<p>I’m confused…I thought the OP wanted to attend Law School after undergrad. There are HUNDREDS of majors at UMass that would be relevant to someone wanting to go to law school. Furthermore…some law school applicants apply to law school with undergrad degrees in music or something similarly unrelated to “law”. You can major in ANYTHING as an undergrad and go to law school…do very well on the LSAT and have a VERY high GPA.</p>
<p>Surely UMass has SOMETHING that is suitable in terms of a major. AND the cost is much better.</p>
<p>It’s no easy feat being accepted as a transfer to G’town or Cornell. I don’t know about USC.</p>
<p>I want to major in (East) Asian studies and possibly even double major.</p>
<p>I’m being pretty realistic now… I’m actually thinking about not going to school and redoing everything next year. But thanks. I fear I won’t be able to pay off my debt too… but my parents doesn’t seem to see the issue in having a debt of 80,000 dollars–they’re actually pushing me to go. They probably just don’t understand though.</p>