<p>My sister was all set to transfer into a new school for the fall. She is registered in the new school, and everything is ready to go. The bomb drops today. They want her to take a $13,000 loan to cover her remaining tuition. She received a scholarship to the school, as well as additional grants, but the remainder of the bill is $13,000. I think that is a terrible idea, especially considering she wants to go to law school after college.</p>
<p>Another problem is she is withdrawn from her old college. If she decides not to take the loan and go to the new college, she will not be enrolled anywhere in the fall. </p>
<p>Any advice out there?</p>
<p>How could the bomb just drop today (unless she just got her aid letter today). In any event, the way the aid letters are set up, you can pretty much do the math (add the EFC, grants, scholarship, and loans ) to see if this number equals the cost of attendance (usually this total amount is also indicated on the FA award letter). If the 2 numbers are not equal then yes, there is a gap and your sister would have to come up with the money the best way she can.</p>
<p>Was the financial aid better at the other school?</p>
<p>Did she file for financial aid for her other school in the event that she did not get admitted to a transfer school?</p>
<p>Is going back to the old school still an option? IF yes, then she should be able to go back to the registrar and pay the fees to be reinstated.</p>
<p>the reason she left the old school to begin with was that the program she is in, criminal justice, is very limited. They were only offering 1 or 2 courses a semester in her program. Since she withdrew from the college, they are not sending her a financial aid package for the upcoming year. Last year however, she only needed to borrow $6,000, which was a lot more reasonable.</p>
<p>just take the loans, 13K a year aint alot,</p>
<p>yeah, 13k isn't a lot, but multiply that by 3 more years, and thats $39k. Then whatever she needs to borrow for law school, and that's a huge amount of money.</p>
<p>I don't think one should put themselves in such a hole.</p>
<p>I am glad that everything has worked out for her. She should keep in mind that she does not have to major in criminal justice in order to go to law school. She could major in just about anything (make sure that she takes courses that will provide her with great reading, writing analytical and critical thinking skills. If she majors in something she enjoys, get the best possible grades, and does well on the LSAT, that is more than half the battle..</p>
<p>as it looks now, my sister will not be in college this coming fall. The transfer school will not offer anymore grant money, and she does not want to take a $13k loan. She will be looking for a new school come the fall, and hopefully will resume in the spring semester. It is killing her not to be in school this fall when she has already completed her freshman year.</p>
<p>I am sorry I misread one of your responses, I thought the new school reduced the loans down to $6000. Your sister should definitely contact her old school and explain what has happened and see if she can come back. The school still has time to reinstate her finanical aid because even with loans, they are not distributed until the fall.</p>
<p>Il be in that type of hole. But who cares, I surly dont. You pay for what you get.</p>
<p>if It stafford and perkins loans then itrs not that bad, if its alternative loans then yeah i wouldnt take them either.</p>
<p>I'm very wary of taking on debt b/c if my own situation. It did take some time for me to get a job right out of school. I graduated May '05. I know how it is to get the bills for the loan payment, and not have the money to pay it. I worked at the supermarket for $8/hr b/c of not being able to find a "real" job, and know what its like to get huge bills one cannot pay. </p>
<p>I think also its very easy to take out loans, and not worry about the future. Then the future comes around all too fast, and one finds themselves in a deep deep hole. I know of people in their late 30's still paying off student loans that total over $80k, and can barely keep their heads above water. I think when students take out loans, they really do need to consider the ramifications said loans will take on their adult post college lives. </p>
<p>I would not be concerned about her taking stafford or perkins loans either. But in her case, she would max out a stafford loan, both sub and unsub, then have to take a private loan besides that. My parents cannot help out, and are not eligible for a parent loan. I don't think undergrad debt totals are worth $50k, especially when one wants law school.</p>