Current College freshmen Financial Dilemma

Paying for College
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<p>Hey, I am a current college student, a freshmen in a 3 year program.</p>

<p>I have a problem is paying for summer classes. My summer session bill comes out to $10,000, and I am ineligible for finaid. My school is very strict with scholarships, so this money must come from somewhere else. I need this in order to graduate on time. </p>

<p>I am a:
Bio Major
3.75 gpa
involved in research and volunteering (700 hours)
No Financial Need based off of FAFSA</p>

<p>I need some kind of outside scholarship or program that helps pay for summer classes. Based on my info, could you guys suggest what I should do/some awards I should apply for?</p>

<p>I need this info soon because registration is starting.</p>

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<p>Is the reason you are ineligible for FA because you have already used your FA max for the year? Even if you are not eligible for FA based on your EFC you can get an unsubsidized Stafford loan (if you are a US citizen). If the issue is that you’ve used your FA for the year you can consider moving from a three year program to a four year program negating the need to take summer classes.</p>

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<p>Hey, Thank you for your response.</p>

<p>The reason I am ineligible for FA is because EFC is too high (although i am paying for my college on my own, but oh well). I also am a US citizen by no unsub loan. </p>

<p>I am trying to pay off as much as possible via scholarships and jobs. Thats why I need help; I am going to try and contact the FA office but they offer no summer scholarships. And due to a private condition, the 3 year program cannot be changed. </p>

<p>Any advice on scholarships to go for?</p>

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<p>Erin’s dad…some schools do not allow financial aid to be used during the summer. My guess is this is the school’s policy for the OP.</p>

<p>OP…is there any reason why you can’t just do this during the following fall term when you would be eligible for financial aid?</p>

<p>Edit…Perhaps someone associated with the OPs “special three year program” might be the source for finding out about financing the summer. What DO kids do if they cannot fund the summer portion of the program?</p>

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<p>hey thumper;</p>

<p>The reason I can’t do it because I am in a medical program and need to take summer classes. I will have around 300k in debt by the time I am done, so anything less = great sucess. Thanks for reading and helping!</p>

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<p>az1698…it sounds like the summer classes are part of the program. You need to talk to them about how students can fund this. </p>

<p>Another thought…if you’ve been paying your own bills all along…maybe your parents will help you with this last part.</p>

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<p>@ Thumper - yes, the summer classes are part of the program; however, since it was competitive to get into, they don’t offer aid. all that they offer is loans w/ high interest rates. I did know about this before, but I am hoping to lower the amount of loans I have to take. </p>

<p>My parents have been contributing to my situation as much as possible, but they can’t do it anymore (economy, retirement money, ect.). Thus, looking for scholarships.</p>

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<p>OK…I will ask another question…you are currently a college freshman and already you know you need money for this summer. You will also need money for next year…and the following. And is summer required between your second and third year also?</p>

<p>If so…I think you need to figure out your finances ASAP. The reality is that even in your major (I won’t post what it is because I got that from other threads of yours), you are going to be graduating with STAGGERING debt. BUT most important…is that right now you don’t have a way to pay your college bills. If you have $300,000 in debt, you will be paying AT LEAST $3000 a month in loan repayment for 20 years. The interest on that amount of loan money alone is huge.</p>

<p>The reality is that you or someone is going to have to pay these bills. If they are not paid, you will not be able to attend classes. If you have an outstanding bill and decide you want to transfer to a less expensive or different option, you will not be able to get your transcript released from your current school until your bill is paid in full.</p>

<p>Since you knew the financial obligations of this program and the requirements to study in the summer(s), I would hope that you also thought of how this was going to be funded.</p>

<p>As I’ve said previously…there is NO tuition fairy out there.</p>

<p>Financial aid for summer school is not as plentiful as for study during the regular academic year. In many cases, summer study is viewed as a choice. Many (if not most) colleges do not provide financial aid for summer study. That has to be paid for by the student.</p>

<p>If you are paying for this schooling yourself, perhaps you can look for some funding for the school year (next fall) that would free up some of your funds to pay this summer bill. </p>

<p>Remember that many of the private scholarships also consider financial need as well as merit. Because you have no need (as you’ve stated) this could be a problem for you in getting outside scholarship funding.</p>

<p>Talk to the folks in your program to see what they have to say. If they don’t have any leads for you, go to the regular finaid office at your university and discuss this with them. While they may not award aid, they may be able to point you in the direction of who might be able to help you.</p>

<p>I hope you don’t think I’m being too rough with you…but you knew these costs when you enrolled in this program and it also sounds like your parents never committed to paying the full freight for it.</p>

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<p>Hey thumper,
No no, I dont think your being rough at all. I did know about the costs and Have Secured a loan, but saving every little bit helps. </p>

<p>In total, I will be in around 220,000 debt (lol, not good but better then 300,000) due to my parents. And as it is a medical program, I will be getting out with a MD so the payments will be hard, but eventually doable. </p>

<p>I know there is not fairy, but any little bit helps. I am a really good writer, so writing a essay for a contest or something is not bad. I am trying fastweb but as you guys prob know, its not the easiest. Thats why I was looking for scholarships CC’ers have won that are not that impossible. In the long run, will a $1000 make a big difference? No, but every little bit helps.</p>

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<p>Not understanding the no unsub loan … huh??</p>

<p>Did you not file the FAFSA? Or does this school not participate in federal Title IV aid (like Stafford loans, Pell, etc)? ALL students are eligible for unsub loans if they fill out the FAFSA, complete any requirements such as verification, are not in violation of any federal rules that would make them ineligible for aid, attend a school that participates in Title IV aid, are taking at least a half time course load (maybe that is the issue here???), and are not awarded over COA (which you would not be, it sounds like). Or possibly the summer program is not actually degree-related classes?</p>

<p>I am not sure I understand why you wouldn’t be eligible for your unsub loans in summer if you didn’t use them during the academic year.</p>

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<p>Where the holy heck do you go to school, OP? </p>

<p>Something here makes no sense.</p>

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<p>kelsmom, the OP is trying to fund summer school without loans, is what I’m getting here, because he/she is going to have over $220,000 in loans – more than the cost of my current house and my previous house added together – already, without the summer classes.</p>

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<p>Unfortunately, it’s highly unlikely the OP will find summer scholarship money and I’m hoping this debt has been well thought out.</p>

<p>There are no 3 year programs in the US that leave you with an MD, which is why I’m really confused. What is the real total debt to become a doctor, and is it reasonable starting where you are?</p>

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<p>I believe the OP is in a combined BS/MD program. From what I can gleen from other threads…it is a seven year program being done in six years.</p>

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<p>I realize that the OP is trying to do this without extra loans in the summer. What concerns me about the OP’s posts is the fact that he/she said “I also am a US citizen by no unsub loan.” Other statements about only high interest loans bother me. I just hope the OP knows that unsub loans are most likely available … and they are preferable to higher interest loans. It sounds like perhaps higher interest loans are also necessary to make ends meet, but I just want to make sure all lower-interest options are understood.</p>