<p>I am in desperate need of some financial advice! I have recently emerged partly sane from the college admissions process. My high school record is kind of average and I got a 1890 on the new sat's and 800 on the english sat II's and a 690 on the Us history sat II's. I was accepted to my first choice American University and I was ecstatic. However, my joy soon evaporated when I opened my financial aid, they gave me 10,000!! in loans and federal work study. Mind you this school is 43,143 a year!! I have always wanted to attend American because they have a great Intrntl. Relations program but it seems this will be impossible unless I take out a loan for 33,143 because my parents aren't helping me at all. Is this advisable? or should I just rule American out and consider a lesser school??</p>
<p>~ 130 K in loan is too much for an undergraduate degree. If your parents don't want to help you, you may have no choice. Did you talk to your parents before you applied? It is always a good idea to understand how much of a college cost your parents are willing to share, run through free aid estimators and get some idea of the total cost before you apply.</p>
<p>and you will not ruin your life if you go to some other school.</p>
<p>Well to be frank my parents were never interested in the whole college thing for me.... so I always pretty much knew they weren't paying for anything. My other choice in college is George Mason which gave me alot more money and is like 20k cheaper but I feel like I won't get a good job in my field (International Relations) if I attend George Mason. Is an undergraduate degree that important or do employers look at your master's?? Thanks for your advice.</p>
<p>Last degree counts lot more.</p>
<p>A lady I know said her daughter got married, stayed out of school a year, and when she applied a year later, was eligible for plenty of aid. I don't know if this works for single people. Anyone know here?</p>
<p>Being married would qualify the above student as independent. Being single does not. So NO this would not work for a single student.</p>
<p>Financial aid decisions can be appealed. Write a letter (not an email) to American University and explain your situation. If they want you, they might boost your financial aid package. I know someone who sent two letters and got an additional $10,000 after each. (Granted, that was Yale, and they have lots of money. But it may work at American as well.)</p>
<p>
[quote]
However, my joy soon evaporated when I opened my financial aid, they gave me 10,000!! in loans and federal work study. Mind you this school is 43,143 a year!!
[/quote]
</p>
<p>We just can't objectively look at this as your just getting $10,000 (loans & work study) because your package is all relative and there are missing pieces. </p>
<p>You need to tell your full story as there is a big difference between only getting $10,000 in loans because your EFC is $30,000 ( where getting a 10,000 package at a school that only meets 68% of your need then that is a good package). and having a 0 efc and only getting $10,000 in loans (which you should take as an admit-deny; academically you cleared the bar to be admitted, but they are not giving you any money).</p>
<p>There is also a big difference in having a big EFC and your parents can't/won't pay it and are saying they are not going to spend/ go into debt for this kind of $$ and are telling you that you need to borrow.</p>
<p>You mention the loan and work study portion, but did you get any grant/scholarship aid?</p>
<p>remember that :</p>
<p>Cost of attendance -EFC = demonstrated need.</p>
<p>In addition </p>
<p>the school only meets 68% of your demonstated need</p>
<p>has a ratio of 56% grants scholarships and 44% loans</p>
<p>the school also gives Need-based aid, which is determined by:
Academics
Leadership </p>
<p>Sounds like preferential packaging .</p>
<p>
[quote]
My high school record is kind of average and I got a 1890 on the new sat's and 800 on the english sat II's and a 690 on the Us history sat II's.
[/quote]
</p>
<p>Your package could be as a result that you probably not at the top of the applicant pool.</p>
<p>If your loan component most likely consists of :</p>
<p>Stafford loan of 2625
Maybe a perkins loan of 4000
Work study of 3375 (almost 1700 per term)</p>
<p>
[quote]
I know someone who sent two letters and got an additional $10,000 after each. (Granted, that was Yale, and they have lots of money. But it may work at American as well.)
[/quote]
</p>
<p>There had to have been some really extenuating circumstances that the student was able to document in order to get the money (that s/he is just not divulging all of their family business to you) because they did not get an increase just by asking.</p>
<p>You can and should request a financial review. However, unless you have some really extenating circumstances (parents lost a job, unpaid medical expense, second kid in college or private high school, or something that they overlooked when calculating your package) I highly doubt that American is going to raise your package by $10,000 so your best bet is to move on.</p>
<p>Thanks for the really honest answer... I needed that. To clarify my efc is 11K. So I think perhaps they gave me an admit-deny. I think I will attend George Mason..I guess. Thanx.</p>
<p>Last year a representative from admissions informed me that they are typically looking for over a 3.5uw, and over a 1300 (old sat) for merit $. There were a few who posted in the past with lower stats that did receive merit $, but I noticed a number of these applicants were from California/west coast.</p>
<p>I don't think that you have anything to lose, but I would not count on this school. Look at your other options. Even if they offered 5,000 it would not put a real dent into the bill. Why not just give it a try though, as there is nothing to lose by discussing your finances and asking.</p>
<p>George Mason is a good place. U will do fine</p>
<p>BornConfused...take the previous advice from Sybbie, as that is right on the money (sorry for the pun!) This is far from the end of your life. Don't put all your eggs in one basket. Have you and your parents discussed college and what they are willing to pay? Are they supportive of you attending college in the first place? If the answer to those two questions is "no", then you must be realistic in your choices in regards to how much money you can afford to take out in loans. Also, if your parents are not willing to help pay for college, shouldn't that enable you to get more since you are paying for it yourself? That was a question I do not know the answer to; perhaps someone else can answer for us. I wish you the best.</p>
<p>Thanx I am really trying to reconcile myself with George Mason. I tryed filing for independance since I am paying for college myself but the rules are very strict when it comes to that you have to be 23, or married...etc.. which makes it almost impossible for me to file independant. Meanwhile I really think I will be attending George Mason since they gave me practically a free ride. I am still a bit scared that it's not that great of a school for my major but we'll see what happens.Thanx for your help.=D</p>
<p>Congratulations on getting a free ride at George Mason. Why are you afraid that it may not be a good school for your major?</p>
<p>Thanx=) Well all I hear about it is that it's for people who got rejected from UVA and American, and that it's a commuter school,etc... unfortunately I have not been able to visit because I do not live in the area.=( I intend to major in International Relations and I feel like perhaps Mason won't offer me the same opportunities as American or George Washington U..</p>
<p>you could get married with a friend who'd be willing to help you out, just so that they can base your financial aid on your income, and hopefully your efc drop, making you qualifiable for more need aid.</p>
<p>george mason had a great final four run this year.</p>
<p>I don't know about the marriage thing... I mean it sounds good in theory but I am not really sure how well that would work out with me...marriage freaks me out real or fake.</p>