<p>Its low income in comparison to most people that I know. When I first stated my family doesn’t make alot of money, what did you guys expect? 20k a year? Ive been in contact with Kelley at Indiana and actually a majority of their interns get paid, on average finance interns there get 21 an hour. </p>
<p>Baruch seems very smart financially, but I did some research on it and it doesn’t seem to be that strong of a business school.</p>
<p>Honestly… you are not that strong a student, and you seem to have very little common sense when it comes to borrowing for college. $100K for St. Johns is just as crazy as $160K for UI. You need to either go to community college and then transfer someplace fairly affordable, or take a gap year and try again at cheaper colleges.</p>
<p>If you have a paid internship, you MIGHT get it within commuting distance of where your parents reside. Then again…you might not. We know some students who had excellent summer internships in NYC, but when they added in their housing and food costs for the full summer, their net wasn’t enough to pay for half a semester of tuition only.</p>
<p>Like I said, you need a personal finance course. </p>
<p>
Either you’re serious and your research is flawed, or you’re pulling our leg.</p>
<p>In any case, Zicklin is better than St John’s, and cheaper. It would lead you to Wall Street more certainly for less money.
<a href=“https://zicklin.baruch.cuny.edu/programs/undergrad”>https://zicklin.baruch.cuny.edu/programs/undergrad</a>
<a href=“https://zicklin.baruch.cuny.edu/programs/undergrad/zuhp”>https://zicklin.baruch.cuny.edu/programs/undergrad/zuhp</a>
Mean GPA for the regular program at Baruch was 3.6 and average SAT CR+M was 1258. Zicklin scholars are closer to 3.8/1360.
St John’s: mean GPA 3.3 and average SAT CR+M 1080.</p>
<p>Lower income is typically under 60k so I think everyone expected that.
The information regarding loan eligibility still holds. Families with incomes in the 80-120k bracket are vulnerable after 2 years instead of one but in that scenario you still end up in debt to your eyeballs and without a Kelley degree. If you really really want Kelley and no other school then it’d make more sense for those 2 years in debt to be your last two years at Kelley, not your first two.</p>
<p>You understand that your take home pay is not going to be $21, right? And that won’t be what you get as a freshman?</p>
<p>First: have you deposited at Kelley?
Second: how do you intend on finding the loans?
Third: is the idea of a gap year unthinkable?
Fourth: what is your SAT math score and your grade in precalculus? Have you taken calc already?</p>
<p>Median household income in the US is around 50-52K/year, so it wouldn’t be surprising that people would expect a “low-income” family to be one that falls below the median.</p>
<p>The biggest issue I have here is this student’s notion that his low income parents should,either cosign or take loans in a huge amount for his college education. I’m sorry, but that is beyond selfish. They do not have the resources to shoulder this kind of debt…and certainly not for ten years after he graduates from college. </p>
<p>The financially responsible thing to do is NOT to expect anyone to share in this debt. </p>
<p>I would pay off the entire debt myself so I am at a pause to where the selfishness is? I didn’t ask for this burden. In all likelihood I will probably not go to Indiana my first two years. I would like to think that after I pay off my debts I could help my parent out as much as possible and help solve their financial issues as well. Hopefully I can land a career where that its possible to support them on top of myself. The one thing that I can not argue with for a second is that I would much rather go to Kelley my second two years of college than my first two. I have sent a deposit to Indiana and my parents are looking into the Parent Plus loan. After I informed you guys of the actual salary range for my household, do you still think that I won’t qualify all 4 years? </p>
<p>You’re not getting “better” ideas because there are no better ideas. Everyone has said it and it’s the absolute truth.</p>
<p>Go to a CC. Transfer in 2 years and no employer will ever care that you started at a CC. </p>
<p>And trust me, if I had a good second option I would use it, but unfortunately I don’t. The idea of a GAP year seems pretty radical to my parents and me. Even if I was okay with that I don’t think they would be. That leaves me with Indiana or community college. It is too late to create any other options. That is why I need to entertain the idea of both Indiana and CC. </p>
<p>Parent Plus loans are not based on debt ratio. They are based on good credit. If your oarents have paid all of their bills in a timely fashion, they will likely qualify. But there are no guarantees that they will qualify for all four years.</p>
<p>However, that doesn’t mean it’s a good idea to take on that much loan burden. The loans you are asking them to take annually exceed their annual take home income. That is way too much to be asking them, in my opinion.</p>
<p>And yes…given that, I think it is very selfish. </p>
<p>You are putting yourself ahead of your whole family in this financial thing.</p>
<p>And think of this. If your parents have all those PLUS loans for YOU, they will NOT qualify for any loans for things THEY might need or want. </p>
<p>So…yes, I think you are being selfish.</p>
<p>You are asking for this burden- on yourself and on your parents- and affecting any siblings.<br>
You can’t predict- not about finishing school, getting a good job or being able to pay on time. Or staying healthy. Your parent loans will be on their credit report, as their debt. All of us will tell you the same thing. You want what you want. You apparently didn’t research financial aspects when you looked at schools, nor when you applied. I’m not sure you have now. And somehow you still say, “I’m not budging on this.” That’s not “determination.” Not this late in the game. At this point it, is wishful thinking. And as you said, desperation. </p>
<p>My parents were the ones who told me not to worry about the expenses of college because they assumed we would be getting a lot of money. Nobody advised me that would be getting this little amount of money. So no I didn’t ask for the burden of not having very much assistance from my parents. How am I being selfish when I JUST SAID that I probably won’t go to Indiana now anyway?</p>
<p>In your first post on this thread…at lunchtime today…you said you were NOT budging at all on going to Indiana for all four years. In addition, you said your parents were urging you to attend a community college for,the first two years. </p>
<p>These speak volumes. Your family is TELLING you that the cost of Indiana is too high. The folks on this thread have told you, the cost of Indiana is too high. </p>
<p>And now…just now…you are saying that you probably won’t go to Indiana. </p>
<p>If you sent an enrollment deposit to Indiana, I hope you can request a return ASAP.</p>
<p>Now…true story here. My husband went to community college and finished his general education requirements. He then transferred to a four year university to finish a degree in engineering. His DEGREE is from the four year school. We saved a huge bundle of money by having him attend a CC first. He has had a successful, and lucrative career in his field. Going to a CC for two years allowed him to work part time, and save money for his last two years (which were at a private university).</p>
<p>Keep an eye on your ultimate goal of getting a degree. You will get there!</p>
<p>I agree with Thumper. I never would have wanted my parents to have done this, and for all the issues my kids have, they never even brought up a hint of wanting us to do this either. </p>
<p>So that is one reason you might need to take a gap year and start over… you and your parents did not realize that (1) Public colleges give very little need based aid (and not a ton of merit) to OOS students; (2) you apparently did not know that all colleges now have a net price calculator on their website where you can get an estimate of the amount of money you might get from the college in need based aid. And your parents apparently did not save much for your college education, nor do they plan to pay for much out of current income from what I can tell (given that the OOS cost for UI is just over $43,000). Plus, you do know that the expense goes up every year, right? So it will rise each year you are in school. I would suggest that you go run the calculator now for Rutgers and The College of New Jersey and see what your likely costs are there. Consider either a gap year and applying to those, or 2 years at a CC and 2 years at one of those colleges, and you may come out with a more reasonable amount of debt that won’t mess up the rest of your life.</p>
<p>If you think you can do so well in college, put yourself to the test. A near 4.0 and good community involvement on campus can gain you opportunities. Then at least you will only have the larger expense for the last two years, and you will have some aid that is reserved for very top transfer applicants.</p>
<p>Ok…to the OP. There is no guarantee you will be admitted to the Kelley School. You do not meet the full criteria for a direct admit…so you would have to apply for admission as a student and meet those criteria…which are competitive. Below at the direct admission criteria. You have to meet them all. Your GPA does not meet the 3.7 cut off.</p>
<p>So…in reality, you could pay a LOT of money to attend IU this year, and NOT be accepted into their business school.</p>
<p>For fall 2014 admission, you will automatically be offered direct admission to the Bloomington Kelley School of Business if you have:
Been admitted to IU Bloomington and indicated business as your intended major. See above.
Earned a composite ACT score of 30 or SAT total score of 1270, including only the math and critical reading sections. The best available scores from multiple test dates will be considered.
Earned a cumulative GPA of 3.7 on a 4.0 scale during your high school career. Indiana University accepts weighted GPAs (if provided on the high school transcript). Please note that all GPAs will be converted to a 4.0 scale.
You will only be offered direct admission if you have met all of these requirements. Direct admission is offered solely on these stated criteria. If you meet the criteria for direct admission any time between August 1, 2013 and July 31, 2014, you will be offered direct admission to Kelley.</p>
<p>This entire story is a reminder of the importance of parents monitoring what their children are doing when it comes to college applications. How can a parent buy the “don’t worry; I’ll get aid” story? What meetings with the counselors did the parents miss at the high school where they explained all of the FA-down-the-rabbit-hole issues?</p>
<p>OP asked originally for recommendations from us for where she can get scholarships. At this late date I can only recommend a conversation with both the HS guidance counselor to see if anything is left out there AND a conversation with the university’s FA office to see if anything can be done for freshman year–or for subsequent years. I don’t recall seeing a comment that OP should do an appeals process WITH parent help. (Not too late for the parents to step in and DO something here.) Appeals are possible even now and the worst thing that can happen is that no more $$$ are forthcoming and OP goes to CC or does the gap year. Best thing is a reasonable plan and some additional $$$ relief for freshman year. </p>
<br>
<br>
<p>NJ schools are not so bad. What really sucks is that you did not get a better GPA and SAT and now you cannot afford to “export” yourself from NJ. Investment banks actually ask for SAT score - they believe that it is a proxy for IQ. Rutgers Business School is not well established but with a degree in finance or economics (especially with math minor) from Rutgers your starting salary will be considerably over 40K/y. A lot of financial companies have back offices in NJ and many offer paid internships to Rutgers students. If you had better stats Rutgers would through money at you. Even without merit if you can commute to Rutgers - it is pretty affordable.
So you should start at a CC and transfer to Rutgers. No point of taking a gap year as you cannot improve your GPA anyway. Taking a lot of loans to go to some average private school does not make sense for a Pell student. You may get a better college experience there but if you cannot afford this experience then why put yourself into the debt hole. Rutgers is actually a well known university strategically located near US financial capital and IU is not exactly Harvard and does not warrant 100K premium over Rutgers.</p>
<p>@laplatinum, betting that this student is male, not female. It is almost always the guys who fantasize about getting rich with IB jobs.</p>