Can a family with a 20 thousand dollar income afford to pay 7000$ a year?

Paying for College
21

<p>Your package is standard. If you don’t want to take out the loan, particularly the unsub portion, you have to work and earn the money so that YOU make it up. You probably should work some more than your Work Study job too. </p>

<p>I’m glad that you are aware of the risks of loans, but yes, that is a typical package and if you want to go away to school, that is about as good as it gets for you. SUNYs do not typically even meet need. They pretty much have and did not even try to fob off an PLUS (parent loan) as aid to you, for which I give them a thumbs up. </p>

<p>If you don’t get a job, you will be in a tight situation, because you need to pay about $10K upfront for the first semester and the same for the second in January. Half your financial aid, less your workstudy award will be credited each term. You don’t cough up the rest, you will be in trouble. You don’t get work study money until you get the job, work the job and get the pay check about 2 weeks after your pay period, so that’s really pocket, laundry, toiletries, money to get you through the term. Remember, you need to buy books, get there, buy some suppies for college too, you know. And that all has to be done before you start class. So yes, you are in a tight situation unless you get a job, or get some nice graduation gift checks, I would say.</p>

<p>Also, SUNY schools require health insurance. If your family doesn’t have you covered, you will be hit up with that cost. You have to show coverage to them or they will auto cover you and add it to your bill. </p>

<p>And yes, this is really typical of getting full need met, and better than most kids get when going away to a state college or any college that does not guarantee to meet full need. Even Harvard has a required student contribution from their students. And that amount goes up each year. Each student is pretty much expected to EARN some money towards their college costs. </p>

<p>Seriously, you need to find a job.</p>

22

<p>Once more with vigor…you or your parent can pay the interest on that unsub loan each year. This will be a small amount but will prevent the interest from accumulating in your balance. </p>

<p>Personally, I think this would be a better thing for you to do than to expect a parent with a $20k income to contribute, </p>

<p>To be honest, even IF you can’t pay that interest annually, YOU would be responsible for this unsub loan, not your mom who real,y can’t afford to help you.</p>

<p>Just take the $5500 year total Direct loan. After four years of college, you will have about $27,000 total in loans…and a college degree that you might otherwise NOT be able to afford.</p>

<p>Accept the work study as well. NO you can’t use money earned for the fall semester, but you can use it towards the spring bill.</p>

<p>I’m not sure I see another choice for you. It’s either that…or attend a community college close to home where you can commute. Or delay your entry to college so that you can work.</p>

<p>I know you are concerned about the direct loan debt…but it is will provide you with the needed funds to attend…assuming you also have a summer job!</p>

23

<p>I thought from your original post that you had a gap of $7000 after your aid. This is a pretty good package and looks pretty doable. A lot of students have to take out loans and the max in direct loans (which is what you have) is a good maximum to have. Anything over that is when it starts to get too much. </p>

<p>Where will you get the $2,000 if you do not accept the unsubsidized loan?</p>

24

<p>From the looks of your package you were accepted to SUNY through the EOP program. All of you financial need has been met. It just means that you have loans in your financial aid package so you are not going to school for “free” as you have loans that will have to be repaid.</p>

<p>I agree with scm, that you have a good package as it looks like the base cost of attending suny (tuition, room bard, fees) are covered…</p>

<p>BEFORE you reject the unsub loans, you need to look at your direct cost (tuition, fees, room and board) to make sure that these cost are covered in your FA package (as this is what you will need to have covered before you walk on campus)</p>

<p>You cannot count work study, because you do not have a job and have not earned this money</p>

<p>Your tuition is covered by TAP and the SUNY credit</p>

<p>EOP, SEOG, Pell will most likely be credited to your room and board</p>

<p>I would recommend that you get 1, maybe even 2 summer jobs because you are going to need start up cost (XL sheets, comforters, sundry items, book money (unless you are getting a book voucher), pocket money, travel expenses, etc.</p>

25

<p>It’s a doable package. You should accept the full loans for this year and take the work study. Then work as much as you can over all summers and so you won’t need much in loans in future years.</p>

26

<p>If you cannot get a job, and your parents can’t help you out an iota, if the idea of loans is too repugnant to you, then you can look at some local state schools. You will get enough from TAP, PELL that you can commute to college for free at a SUNY, and not have to take out a dime in loans or work a single hour. Full COA would be covered between the two programs. </p>

<p>But you want to go to sleep away college, then you gotta pay, though loans, workstudy and/or getting a job. My kids ALL work during the summers as soon as they could and even really before to help pay for college. They worked at college some too. So it’s not just for financial need kids. Students are expected to pay for some of their college through PAST, PRESENT and FUTURE income. You got no saving, then you have to work more in the present and borrow more from the future income.</p>

27

<p>OP has been accepted to SUNY as an EOP student. Unless he has also been accepted through SEEK at CUNY (if NYC resident), OP is not going to get a better deal. I would advise him to take the deal (or release his seat, because I have students on the wait list for EOP).</p>

<p>Op must also remember if he turns down EOP and goes to a non-EOP school, he loses the opportunity. If he does extremely well, he can transfer perhaps to a HEOP school, where he may get a better package. He has to also remember that he will get free tuition for grad school if he attends SUNY/CUNY. His package is not a fate worse than death.</p>

28

<p>OP, sounds like a good deal to me.</p>

<p>Sybbie, even without SEEK, would he not still get TAP and PELL and if commuting to a state school, could go tuititon free with those award amounts?</p>

29

<p>OP would get Pell because it is a federal entitlement. Op would only get TAP, if he attends a school in NYS as it is a NYS entitlement (if he leaves the state, then he loses NYS aid). Student does not have to be eligible for an opportunity program to get the aid. </p>

<p>However, if student was applying to ASAP at the CUNY community college, they would have to be eligible for at least $5 in Pell (for accepted students ASAP will make up the short fall in tuition, not covered by TAP/PELL)</p>

<p><a href=“http://www.cuny.edu/academics/programs/notable/asap/about.html[/url]”>http://www.cuny.edu/academics/programs/notable/asap/about.html&lt;/a&gt;&lt;/p&gt;

<p>With opportunity programs, you can only be admitted as a first time freshman. However, once accepted, you can stay in all the way to grad school. Opportunity programs are interchangeable:</p>

<p>In NYC at CUNY it is </p>

<p>College Discovery (CD) at the CUNY community colleges
SEEK at the CUNY 3 year school
EOP at SUNY (both 2 yr & 4 yr schools)
HEOP at selected Private schools in NYS.</p>

<p>For example, </p>

<p>A student starts out at CD at LaGuardia CC</p>

<p>if the student transfers to Hunter (or any other 4 year CUNY), CD converts to SEEK
if the student transfers to Dutchess CC (or any other 2/4 year SUNY), CD converts to EOP
if the student transfers to Fordham, Marist, NYU, Columbia, Bard, Cornell, etc (or any other 4 year school with an HEOP program), CD converts to HEOP</p>

30

<p>Thanks guys but now I realize I’m even in a tighter situation. I have a stipend from my organization that gives $500 for freshman year and 250$ the rest which should cover my textbooks and stuff like that. But I’m in the Binghamton EOP program which they require me to go there in the summer for one month. Thats means I have less than a month of my summer vacation at home to work. In addition, I’m not even 18 yet so finding a job is going to be very hard. Any more advices you guys have?</p>

31

<p>@swimcatsmom
Probably I have to work in the summer for that. I don’t think my mom can afford that much either even though she is very frugal.</p>

32

<p>Look for a job NOW. Weekends and the little time you have before going there in the summer. Ask about any work opportunities at the school for the summer. Binghamton might have something. As if there are ANY more workstudy funds you can get. </p>

<p>I’m sorry that it’s a tough go, but it is. ALL kids should really be working and saving birthday, gift money for college. When I was a kid that was a norm. My family did not have much but we had to “save for college”. Kids don;t seem to do that these days. As Sybbie as said, however, this is about as good as it gets and there is a line for your spot if you don’t want it.</p>

33

<p>pwang128, write or call the EOP people at Binghamton. Everyone accepted to that program is in a difficult spot financially. The summer program is mandatory. It’s a great opportunity for you.</p>

34

<p>Not being 18 should not make finding a job hard. My son worked as soon as he turned 16. Started off at taco Bell. Not the most fun job in the world, but he worked hard and it brought in some money.</p>

35

<p>A classic example of the entitlement generation!</p>

36

<p>You still have 8 weeks to work. Work, McDonalds, Burger king, Gap, CVS, shake shack, or anywhere else hiring.Mow lawns, babysit, collect cans, be a handy person for a neighbor, bag groceries. But you have to get on your grind. </p>

<p>As you know if you don’t go to your summer program, you will not be in EOP and you forfeit the admissions. The good thing is that you will be on campus, getting the lay of the land, accumulating credits and getting a lead on work study/non-work study jobs.</p>

37

<p>Sosmenza, not really. I don’t think so, anyways. To come from a low income family, it’s going to be very tough to come up with the money. I prefer the OP’s sentiments about taking out loans over a lot of folks’, parents and kids alike, who are looking where to sign, never mind the terms of loans in 6 figures for college. My jaw drops at some of these posts.</p>

<p>But really, think about it. No money in a family, like not a cent extra, and you need to go up to Binghamton somehow for the summer and then come up with all the stuff one needs for college as well. No job, and have to find something now. Not always doable. So this is going to be a tough stretch for the OP and the family. NY gives it out “tough love” wise. A good deal, great opportunity, but the kids and family have to pound some salt too.</p>

38

<p>If the kid lives in the NYC, there are no lawns to mow. And it can be hard to find fast-food jobs–lots of competition from 18-year-olds who don’t need working papers and have no restrictions on the hours they work. Maybe not impossible but worth trying to pick up babysitting, dog-walking, stuff like that. There are jobs programs for the summer but he won’t be able to do them because of the EOP summer program.</p>

<p>OP, if you are in NYC, there are some school holidays coming up, half-days, that are very difficult for parents to cover. Maybe you can find some childcare work that way.</p>

39

<p>@oldmom4896 I live in Queens. If you can give me a couple of those jobs you mentioned, that would be superb.
@EVeryone Thanks so much for your information and advices.</p>

40

<p>Pwang128 - It’s “advice,” not “advices.” :)</p>

<p>And, as others have said, start looking for a job TODAY. Go to every business within walking distance of where you live. And, if that doesn’t work, take the subway to the next closest busy shopping district. Clean yourself up, dress nicely, and take a one-page resume with you listing your education and ANY work experience you’ve had (including volunteer positions). The resume should have your name and phone number. (Carry a couple of dozen copies of the resume with you, so that you can give one out at every business that might have an opening for you.)</p>

<p>Bring a pen with you so that if you have to fill out job applications, you’re ready. And get a business card for every store manager you speak with - that way, you can follow up in a week or two to ask if they’ve had any job openings.</p>

<p>(One word of caution, though: most job applications ask for your social security number. Don’t include that - just tell them that you’ll be happy to provide it when you start work.)</p>

<p>When you get home, start knocking on your neighbors’ doors. Ask if they have any odd jobs you might be able to do between now and when you leave for college. If someone says “yes” or “maybe,” write down their name, address & phone number - and give them a copy of your resume so they know how to reach you.</p>