<p>I’ll bet your original school would allow you to return if you are in good standing. $35k for 2 to 3 years is too much to borrow on a private loan.</p>
<p>Okay, we have cosigned on direct loans for our kids, with caveats, but there is no way we would ever borrow $35K for them! </p>
<p>Per year, you want your parents to borrow $35K per year? That is a LOT of money. Can you even earn and pay them back $35K per year, after you have graduated and found employment? If, you find employment.</p>
<p>We’ve cosigned on loan amounts that equal what we expect our children to earn in summer jobs. By the end of their summer job, they’ve paid off the loan. </p>
<p>Aren’t sound technicians used more frequently than sound engineers? Aren’t job prospects for audio engineers limited?</p>
<p>Your parents have “done the math” and realize that Audio Engineers do not get paid that much as new hires…not enough to pay for their own living expenses AND big loan payments. That is likely why they’ve changed their minds.</p>
<p>You never should have withdrawn from your school. That didn’t have to happen at that point.</p>
<p>Contact your old school and see if you can still attend.</p>
<p>What school do you currently attend and who/what is paying for THAT? Do you have any loans from attending your old school?</p>
<p>$70k in loans is way toooooo much for undergrad. And if you have other loans, then it’s really way tooooo much. </p>
<p>The COA for Belmont is more than $35k per year. Are the rest of the costs being covered with a $7500 Direct Fed loan?</p>
<p>How much would you be earning upon graduation? </p>
<p>How much will your loan payments be upon graduation?</p>
<p>Is your plan to work in Nashville?</p>
<p>Actually good and experienced audio engineers can make an excellent salary…but not usually right out of college. The key is getting excellent internships, and mentor opportunities. That is where the bulk of your experience needs to lie.</p>
<p>You are a transfer student to a college thwt does not guarantee to meet full need for anyone. It is highly probably that transfers are at the bottom of the food chain with regard to institutional aid.</p>
<p>Call Belmont and ask.</p>
<p>ETA…what is this “other school” that you are leaving?</p>
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<p>Yes…but it’s the time period where income will be more modest that probably scares the parents. And, the student may also have full federal loans by the time he graduates…so debt level will be more than $100k by graduation.</p>
<p>Single people get hit hard with taxes, so whatever new-hire salary this person starts with will have a much lower net. Once FICA, taxes, health insurance and other work-related deductions occur, the “take home pay” my only cover living expenses…with not enough to make regular $1000 a month student loan payments. </p>
<p>There’s also a possibility that the parents have learned that they have a credit issue and they won’t qualify to co-sign $70k of loans.</p>
<p>If you are in state, MTSU’s audio production program has state of the art equipment and MTSU is much more affordable. I have read several comments here on CC suggesting MTSU is a U to consider.</p>
<p>If you are out of state, the tuition is only slightly less than Belmont, which doesn’t help you at all.</p>