<p>I didn’t quote the NYT so don’t have the link. Sorry, it was a different poster.</p>
<p>It was my post…</p>
<p>I can’t find the original link, but here’s another NYTimes article that says the below…</p>
<p><a href=“http://www.nytimes.com/2008/08/24/business/24loans.html?scp=7&sq=student%20loan%20debt&st=cse[/url]”>http://www.nytimes.com/2008/08/24/business/24loans.html?scp=7&sq=student%20loan%20debt&st=cse</a></p>
<p><a href=“The%20average%20debt%20among%20the%20two-thirds%20of%202003-4%20college%20graduates%20who%20use%20loans%20is%20about%20$20,000,%20according%20to%20the%20College%20Board.”>I</a> *</p>
<p>This one even suggests that debt is lower than the other article, because this one says that 1/3 don’t have any student loans at undergrad graduation, and the 2/3 that do, average $20k.</p>
<p>Thanks everyone for the links. Interesting reading.</p>
<p>Maybe I’m not comprehending what I’ve read in these links, but my interpretation is that these average debt figures are estimates based on information that some colleges voluntarily provide. Wouldn’t it be in a college’s best interest to under-report student debt? I can’t see any repercussions that result in the college making themselves look better than they actually are. How about the colleges that don’t report at all…is their average student debt so high that not reporting is preferable to outright lying? Even the colleges that may be attempting to provide as accurate of information as possible may not have access to all of a students actual debt…never mind the debt the parents have incurred. </p>
<p>I would not be surprised to find these “estimates” are grossly understated. Just my opinion…</p>
<p>From CollegBoard:
“College Search profiles are based primarily on information supplied by the colleges themselves in response to the College Board’s Annual Survey of Colleges, with some data provided via federal and state agencies”</p>
<p>I don’t have the book in front of me, but I’m pretty sure that the U.S. News and World Report: Ultimate College Guide has the average amount of debt listed for each school. I’ll have to check when I get home. </p>
<p>This is an interesting website with data and reports on student debt: [Project</a> on Student Debt: Home](<a href=“http://projectonstudentdebt.org/]Project”>http://projectonstudentdebt.org/)
The most recent report is for the class of 2008 but there is an interactive map showing debt by state.</p>
<p>My projected EFC was around $600 not $6, my apologies.</p>
<p>$6000, ah can’t type very well.</p>
<p>To one of the above posters, I applied to schools not understanding how much acollege cost. My brother started out at a community college due to grades thus my family never advised me on where to apply. I guess I would label my safetys to be my in state school, Illinois, or Missouri, which I received a scholorship of $4000 from. Even these schools are mid to upper 20 thousands.The other schools I applied for regular admission and didn’t receive a scholorship.</p>
<p>So…</p>
<p>Am I reading that right? UIUC is your in-state safety?</p>
<p>If so, then UIUC has a COA of…</p>
<p>$25,988, U ILLINOIS for instate students.</p>
<p>Can your parents pay their EFC? Can they pay more than their EFC? Have you talked to them about it?</p>
<p>How will you pay for the rest? </p>
<p>If you don’t know, the it’s not your financial safety. </p>
<p>Can you commute to UIUC? If not, have you applied to a state school that you can commute to?</p>
<p>With an EFC of $6,000, that is too high for a Pell grant.</p>
<p>Yes, University of Illinois is my in state school. My parents can most likely pay my EFC for a few years with my college savings. The last two years is a toss up with how’d I’d pay for it.</p>
<p>Is UIUC the only Illinois public that you applied to?</p>
<p>Can you commute to UIUC if necessary?</p>
<p>If not, is there a public uni that you can commute to?</p>
<p>What is your likely major/career?</p>
<p>Does anyone know how generous UIUC is with in-state students?</p>
<p>If your parents are going to pay for their EFC for the next 2 years out of college savings, then can’t they spend the next 2 years setting some money aside for the EFC for junior and senior year? They’d have 2-3 years to come up with $12k.</p>
<p>I applied to various publics in the Midwest as I mentioned earlier. I live about 45 min away from UIUC but commuting isn’t a likely possibility at all. I actually want to do something in the medical field, such as dentistry. From what I’ve heard UIUC isn’t very generous and it almost seems like a priviledge to go
there around my parts. I’m
sure my parents could somehow come up with $12000 but from my understanding I doubt I’d have to pay just my EFC. That’s the part I’m confused about, and if UIUC isn’t generous with meeting aid, then community college may be the option to take. You read stories with people taking out huge amounts of loans to pay for college but I’m scared to take out that many loans. It just seems weird to go to a community college with my above average stats for my school.</p>
<p>* actually want to do something in the medical field, such as dentistry. From what I’ve heard UIUC isn’t very generous and it almost seems like a priviledge to go
there around my parts. </p>
<p>I’m sure my parents could somehow come up with $12000 but from my understanding I doubt I’d have to pay just my EFC. That’s the part I’m confused about, and if UIUC isn’t generous with meeting aid, then community college may be the option to take. You read stories with people taking out huge amounts of loans to pay for college but I’m scared to take out that many loans.*</p>
<p>If you’re going to be going into some medical field, such as dentistry, you really can’t take out many loans for undergrad since you’ll need your borrowing power for Dental school (or whatever professional school). </p>
<p>I agree with you. I don’t think you should go to a cc. </p>
<p>Maybe the approach/strategy should be this.</p>
<p>Live on campus for the first year to establish some bonds.</p>
<p>Then, for subsequent years, find a cheap off-campus apt to share with a campus friend. That might save you for room and board.</p>
<p>Try to work part-time now and full time in the summer and save as much as you can. 
Hopefully, you’ll get some work-study or a regular part-time job while in school for some pocket money. :)</p>
<p>Try to buy your textbooks used, and if possible, from other sources than the school bookstore. To get the best prices, don’t wait til the last minute. Resell unneeded textbooks after you’re done with them.</p>
<p>Do you know how generous UIUC is with resident students? Does the state provide anything?</p>
<p>The COA is $24k. you need to get a firm idea of how much your parents will pay. If they will pay half, and you get some help from UIUC, then this might be doable with a small loan each year and some earnings of your own.</p>
<p>
</p>
<p>In olden times, it didn’t cost the equivalent of a house to educate a child. Inflation in higher education has far outstripped general inflation over the last 20 year or so.</p>
<p>I agree that the cost of college is ridiculous, and it just keeps on rising.</p>
<p>I plan on visiting U of I again here soon, so I may speak to the financial aid office if it’s possible and see what they have to say. So if I’m understanding everything, out of state schools don’t provide much aid to nonresident students? I know the mission of state publics is to educate the state’s residents that pay taxes to the state government, but University of Missouri, with a $4000 a year scholorship totals at around $26k a year out of state. All in all, I just want the best education for undergrad with the fewest loans possible and I agree that the heavy loans should be reserved for graduation school. Thanks for all of the clarification!</p>
<p>So if I’m understanding everything, out of state schools don’t provide much aid to nonresident students? I know the mission of state publics is to educate the state’s residents that pay taxes to the state government, but University of Missouri, with a $4000 a year scholorship totals at around $26k a year out of state.</p>
<p>University of Missouri’s OOS COA is
Fees…$8500
Room/Board… $8,100
Books/Supplies …$1,020
Personal/Transportation Expenses…$2,980 </p>
<h2>Out-of-State Fees*… $10,350 </h2>
<p>Total, Out-of-State:… $30,950 </p>
<p>Minus $4k scholarship :)</p>
<p>Compared to UIUC COA - in-state</p>
<p>Tuition and Fees… $11,614 (range varies by major - this is highish end)
Books and Supplies… $1,200
Room and Board
(most popular meal plan)… $8,764 </p>
<h2>Other Expenses …$2,510 </h2>
<p>Total …$24,088</p>
<p>* All in all, I just want the best education for undergrad with the **fewest loans possible **and I agree that the heavy loans should be reserved for graduation school. Thanks for all of the clarification! *</p>
<p>While it may look that the cost of UIUC and Mizzou will be the same for you, UIUC is more likely to include institutional grants in your FA package since you’re in-state. Do you qualify for Illinois MAP? </p>
<p>Plus, you won’t have much travel expense at holidays and school breaks with UIUC, since you live within 45 minutes. When you get your FA packages, you can see which will work out best for you.</p>
<p>Are you leaning more towards Mizzou over UIUC for any particular reason? I don’t know how far you live from Mizzou, but it’s much further than UIUC, so you will incur transportation expenses.</p>
<p>Good luck! :)</p>
<p>
</p>
<p>Mom2CK, I don’t know if you misread or mistyped. I think with the OP’s intent to go to dental school the CC is a great choice. Keep those undergrad costs low.</p>
<p>*Mom2CK, I don’t know if you misread or mistyped. I think with the OP’s intent to go to dental school the CC is a great choice. Keep those undergrad costs low. *</p>
<p>LOL…no, I didn’t misread - altho I understand your point. If going to UIUC would require a significant amount of debt, then a CC would likely be better, and then a transfer (especially if during that 2 years the parents could save more towards college.)</p>
<p>But, if she can go to UIUC with little to no debt (like $8-10k total), then she should go to UIUC. Don’t you think?</p>
<p>I think $8-10K total is certainly manageable. $8-10K/year is a different story.</p>
<p>swimmer, </p>
<p>Look to see if your state has grants. Many do but they may only go to kids who get Pell Grants. Try to get current information because many states are cutting these funds. (Your guidance counselor or even local congressman’s office can tell you where to turn.) </p>
<p>Also, look for local scholarships. Many will just be $500-$1000 but that will be money you won’t have to take out in loans. </p>
<p>Also, is it possible for you to take a few community colleges this semester and/or summer? Since it’s all in the same system, the community college will know how the courses transfer to U of I and you could knock out some requirements. Have you taken any APs? Those could help you shorten your time at U of I. If you can graduate in 3 years, you’ve saved yourself 1/4 of the college expenses. Remember, you don’t have to take the AP course; if you can self-study and pass the test, you will get credit. (I think science tends to be an exception to this. My kids’ schools required you take science AP class to fulfill lab requirements.) </p>
<p>[U</a> of I Admissions: Advanced Placement](<a href=“http://admissions.illinois.edu/academics/placement_AP.html]U”>Academics, Undergraduate Admissions, University of Illinois Urbana-Champaign)</p>
<p>Good advice above for some possible savings.</p>
<p>*I think $8-10K total is certainly manageable. $8-10K/year is a different story. *</p>
<p>Totally agree. I’d advice against a $40k undergrad debt even if she wasn’t going to dental school. :)</p>