Very helpful! Thanks everyone!
Just to make sure, are you aware that you can only borrow $5,500 your freshman year, and slightly more the next few years after that? Any other loans need to be co-signed by an adult (like a parent), and usually aren’t advisable if you have options you can afford.
So… given this statement, it sounds like price IS an issue. Hence the recommendation that you probably will find in-state public colleges the most affordable. It sounds like you live in Connecticut, so you should be looking at those schools as your first option if you need significant loans to attend college.
Do you know if it hurts my credit if I don’t pay the debt that is forwarded to my co-signers?
Not sure what you’re asking. Do you mean that your parents will borrow, but will expect you to start paying the loans back after graduation? If they take out a Parents Plus loan, that is completely their responsibility to repay, meaning that the loan can’t be officially transferred to you. You can make whatever informal agreement works for your family about repaying. I think that private lenders will offer loans to you with your parents as co-signers, which would make the debt legally yours AND theirs – but interest rates will be higher than the federal loans.
If you can list your family income, # of students in college and in the household, and what amount your parents are willing/able to pay for each year of college (from their savings and/or present earnings), many people here can help you figure out what you might be able to afford.
But I’m not obligated to pay any loans until after graduation, correct?
It depends on the loan. And some will be accumulating interest while you are in school.
You don’t stand a good chance to get into Babson or Bentley with your SAT scores and GPA. Not to be mean or Debbie downer, just the facts.
You might have a chance at Bryant.
You’d have a better chance of going to state school for a few years and transferring in when your GPA is better and ou have proven yourself a bit in college. Good luck!
Thanks guys!
For U Conn, looks like both Stamford and Storrs Campuses have Business classes for undergrad major.
Also take a look at Fairfield Univ. in CT.
Stay away from private school loans. The government issued ones - the Stafford Loans can be structured with payment plans tied to your income, etc. Research them. Also, research the FAFSA that you will need to fill out. If you are a rising senior I believe you can begin filling them out (with your parents) in October.