<p>Thank you for taking the time to review this!! I will be transfering to my dream university (Columbia) for the last two years of my BA and I need to figure out how to pay for it. I was able to get scholarships, grants, federal financial aid and will take some loans as well. However, I will need to take private student loans to cover the rest of the expenses and live (or survive) in NY/NJ (I might move to NJ and commute to the city, since it´s cheaper). My credit is good but I will not have a co-signer. I will need about $40.000 a year to cover everything. Any sugestions on banks/loans?? </p>
<p>Thank you again!!!!!!</p>
<p>Without a co-signer, there is just about no chance at all for you to get that kind of loans. And, to be perfectly honest, you shouldn’t. You are talking about $80,000 in debt which is almost exactly three times the maximum amount permitted with the Stafford Loans ($27,000 over the course of four years). This kind of debt will strangle you. You can’t afford Columbia. Sorry. You need to make an affordable plan for this fall.</p>
<p>Thank you for your advice. However, my plan for this fall is Columbia. I declined all the other offers, including full tuition and extra money to attend a public university in Florida. Last time I checked (about a year ago) my credit score was about 780 and my credit history dates back 10 years. My only problem is that during the last two years my income decreased considerably since I had to work less to be able to attend classes. Maybe I shouldn´t take out that kind of money, but it is the only way I could afford Columbia. This being said, I would appreciate any info on reasonable student loans/banks.</p>
<p>Thanks!!</p>
<p>Happymom is correct. That amount of loans is a terrible idea and no bank will loan you that money. You would need a current income and collateral. </p>
<p>That is reality I’m afraid. Turning down a free undergrad degree is never a smart decision. Where you get your undergrad degree does not matter in the long run. No one asks about it after you get your first job. </p>
<p>Grad school is worth taking out loans for a premier school. $80,000 for undergrad - nope. </p>
<p>Moot point I’m afraid, banks will not lend you that kind of money.</p>
<p>You turned down a full ride plus at FIU in favor of Columbia which you cannot come close to affording? And you want to go to law school?</p>
<p>You need to reconsider quickly.</p>
<p>How come Columbia didn’t give you better aid? Don’t they “meet need”?</p>
<p>Anyway…for a smart person, you aren’t making smart decisions…you can’t borrow that much ( and you shouldn’t )…and no one should have that kind of debt going into law school.</p>
<p>It was a very bad decision turning down that Florida scholarship. Bad.</p>
<p>Was that Bright Futures???</p>
<p>You are a nontraditional student who has been accepted to the school of General Studies which is does not meet need. So, yes, you will need about $58K a year to go there. I am guessing that you have already taken your maximum PELL and Stafford loans to bring you to the $40K level for this year. </p>
<p>The only thing you can do is get a private loan which despite your credit score is likely to need a co signer with good credit as well. Talk to your bank about what they have available in terms of student loans. That is an awful lot of loans, however. Any possibility of joining ROTC for a stipend and perhaps joining the reserves? That will get you some income. Coast Guard or Naval ROTC reserves is a possibility.</p>
<p>Oh…Columbia General Studies? </p>
<p>Well, that is soooooo not worth $80k+ in loans…no way.</p>
<p>If you want Columbia no matter what, can you move to the NYC area, get a job that will allow you to support yourself, and complete your degree by studying part-time? That will take longer, but in the end you won’t be stuck with something like $90,000 worth of debt for the equivalent of two years of college.</p>
<p>THANK YOU all for your advice, specially to those who offered some input on how to make things work, instead of saying I should say good bye to my dream school. I thought about it, applied and was approved for a loan at my bank. However, I will not need it, since I just learned that the university selected me for “a full grant and scholarship that covers all tuition and fees at Columbia University, and it entails performing 15 hours of service and/or leadership each semester.” It will not cover living expenses, for which I will use federal aid and loans.
I am very happy and grateful for the opportunity. Again, THANK YOU to all of you who offered solutions. God knows I was, and still am, ready to work while in school, live off of saltine crackers and water, and take those endless walks to save on the subway fare. THANK YOU!!!</p>
<p>Congratulations on the scholarship! That truly is excellent news.</p>
<p>Wishing you much success in all of your future endeavors.</p>
<p>Thank you Happymomof1!! And thank you again for your advice!! 
Best of luck to you too!!!</p>
<p>Congrats on your scholarship.</p>
<p>I know that you didn’t like to hear that you shouldn’t be borrowing $80k for undergrad…but…I promise you when you’re a new grad out there supporting yourself, you will look back and realize that you don’t have an extra $900-1000 a month to put towards that $80k debt.</p>
<p>Thank you!</p>
<p>Yes, it is a nice thought But I am sure it would have been worth every penny.</p>