<p>I am going to the University of Missouri Columbia this upcoming fall. When you add up tuition, room and board, books and other fees, my family and I are looking at $35,000 per year. I know that's not nearly as expensive as it can get, but my parents have only saved $30,000 for my college, so I'm not covered even for my first year.</p>
<p>I applied for two quite substantial scholarships this winter and got to the interview level on both. One of them I was completely sure I'd snagged, and it would have cut my college costs by two-thirds. My optimism about my scholarships, plus my belief that my parents' high income would prevent me from getting any federal aid, led me to <em>not</em> send in the FAFSA. The deadline for my school was March 1. </p>
<p>However, I did not get either scholarships and right now I'm looking at getting zero aid from the school. I feel like its too late in the game to do anything about this -- am I just going to have to suck it up and go get some outside bank loans? Or is there something I can still do?</p>
<p>You may be right about your FAFSA for this year but... assuming you use the $30K for school by next year when you fill out the FAFSA again, you'll be in a completely different situation.</p>
<p>For you to know whether you're making a mistake, find out how much U Missouri typically gives in scholarships, i.e. what proportion of students' EFC Mizzou usually meets. Normally, state universities don't meet 100% of students' EFCs, and state U's also expect students to take out relatively high loans because public universities don't have the scholarship $ available that top private colleges have.</p>
<p>The US News premium edition has that info and you also probably can get it from Mizzou's financial aid officers.</p>
<p>If the news isn't good, choose a cheaper school to go to. There probably are rolling admission colleges that you can gain acceptance to still or you could take a gap year and apply next fall.</p>
<p>father: Are you recommending I use all my college funds for my first year and just try to get some financial aid for my sophomore year? Am I looked at differently because I didn't do the FAFSA this year? My parents have a pretty high income - what if I don't get any aid?
Northstarmom: Going to another school is not an option. Mizzou is absolutely the only school I can see myself going to. I'm majoring in Journalism, and it is one of the best, if not the best, J-School in the nation. </p>
<p>Is there really not any other options than simply going to a different school, or getting a lot of loans?</p>
<p>Go to College Board, look up your school, financial aid section, and you'll get a sense of what % of need they fill.</p>
<p>Go to FinAid and use the calculator to see what your EFC would be with, and without, your 30K in savings (to see how your EFC will change from the first year to the second if you spend it down the first year).</p>
<p>If your parents have very high income (over, say $150K or so), your EFC will probably exceed the 35K Cost of Attendance, regardless. Still probably a good idea to fill out the FAFSA anyway. But below that income level, the amount of savings you have (and whether it's in your name or your parents') can impact whether you'll be eligible for aid.</p>
<p>Not sure if you're committed to the one school at this point, or not. But since you didn't get the scholarships you'd hoped for, I'd broaden your view and look at what other schools you've been accepted to, if you can't afford your first choice. That's just life-- we often can't afford what we'd like.</p>
<p>I would still go ahead and complete that fafsa now, expecting nothing. I have read on cc that a freshman should just always fill it out, as family circumstances can change in the future.</p>
<p>Missouri has cross tuition (recriprical agreements) with some states.
I would check this out.</p>
<p>Folks if he doesn't fill out the fafsa he can't even get an unsub stafford loan this year. It's $3,500 for this year.</p>
<p>He's got $30K, plus $3500 fafsa plus summer earnings, gets him thru freshman year. I think it is fool-hardy myself since he doesn't believe that fafsa will generate any grant dollars in years 2,3,and 4 based on parent income. The only thing the OP can count on is the $30K, the unsubsidized Stafford loans, and his summer earnings. Certainly not enough to bite off $140,000 in college costs. (When did Mizzou get so expensive? That's more than Wm and Mary OOS.)</p>
<p>Without shaking money out of the 'rents, co-signed notes, outside scholarships, or the Powerball I don't see this headed in the right direction. Time to have a serious set down with the folks. Good luck.</p>
<p>I just checked the Mizzou website and the actual numbers as of 4/13/06 for 2006-7 are </p>
<p>Instate room + board, tuition and fees = $18,030
OOS " " = $27,612
Uptick for Journalism @ $1,000-$1200 (xtra $37./hr) </p>
<p>Try as I may, I can't get $35,000 out of those numbers. It's bad, but it's not $35,000. That helps. A little.</p>
<p>Cur, It isn't 30,000, but it will probably cost 27,500 out of state. Many oos tuitions are now costing 30,000, or close to it. Many ppl find that these tuitions are still a few thousand less than the 42,000-44,000 private that gives 10-12,000 in merit aid, and nothing more (b/c of family income and/or assets, as well as the amount tacked onto the efc called student responsibility, and also lets not forget the schools that gap). It may not be fool hardy. It just depends on the strength of the student, and family efc.</p>
<p>The Op's number was $35K. $30K is what a reasonable calculation of COA would be for an OOS journalism student at Mizzou. But not $35,000. That $20K could be significant (of course we have to try to factor in increases also.) And Northeastmom, I'm not suggesting spending $30K on a great OOS public is foolhardy at all. Just to do so without a plan. </p>
<p>I just don't know if jumping off that high a cliff and hoping for a soft spot to land is the best idea. Where's the money going to come from if not the parents or co-signed loans?</p>
<p>Oh, I would not recommend going into huge debt for an undergraduate degree either! The OP states that the parents' income is high, and they would not qualify for financial aid. If there are cheaper solutions, they should definitely be looked at.</p>
<p>Gotcha, northeastmom. Now we are on the same page. Sorry I wasn't more clear. ;)</p>
<p>Start applying for more scholarships!!!!</p>
<p>I rounded up on the college costs because I am not working my first year of college, so my parents are going to give me $300 allowance monthly, and I'm also factoring in things like stuff for my dorm and travel expenses. </p>
<p>Everyone keeps suggesting to look into cheaper schools. I'm not going to go to any other school than Mizzou, so that is not an option whatsoever. I have already made this desicion. I'm enrolled, have my housing, everything. I applied to Middle Tennessee State and Western Kentucky as safeties but I am not the slightest bit interested in going there. I'm definitely going to Mizzou no matter what.</p>
<p>Some of you have suggested filling out the FAFSA but I am way past the deadline for school. I'm past the point of "fudging it" - I'm not going to get any federal aid this year. Like I said before, my parents have a fairly high income because of investments, so I very much doubt I would get any aid at all anyway.</p>
<p>CrazyApp said to start applying for more scholarships, but I have researched extensively and all the deadlines for the scholarships I qualify are past. I applied for every scholarship I qualified for.</p>
<p>I know I have enough money to get through my freshman year okay. I suppose later on this year and over the summer I should just bite the bullet and research what type of bank loans I should get. You <em>can</em> get good student loans, cosigned by parents of course, without going through the FAFSA, right?</p>
<p>I don't know much about finaid. But i'll try my best...
If I was you, I'd send the college finaid office that you wanna goto a letter, telling them how much you want to go to that college. Use some substantiated evidences to prove that you will not be able to afford all the tuition. The finaid officers don't have stone hearts, they are human too. So, I'm sure that if you be sincere and humble, they'd re-consider you for some grant (maybe?)</p>
<p>Plus, there's no deadline for finaid. Some schools say that b/c they have given out all their endowments. But if you check the departments that you'll enroll in or the finaid office, maybe they'll spare you some money that are left.</p>
<p>These are all "maybes" so i can't guarentee any financial aid...</p>
<p>Hope it helps!</p>
<p>If your parents are willing to cosign loans (and are creditworthy) and you are willing to pay them, I see no problem. I just don't think it's wise . Google private loans +college, but I bet the best source may be your local bank. That, outside scholarships and Stafford's are your only choice this year. You are not going to change that by ramping up anger at the system or at people who are in good faith offering advice. Good luck at Mizzou. </p>
<p>By the way, I'm still submitting FA docs that were due months ago and getting awards for my D this week.</p>
<p>Oh my gosh, what timing! My mom just called me and told me that I just recieved an unexpected award letter for $5000 a year, plus out-of-state tuition waived. All I have to do is keep a 2.2 GPA and I have it for all four years! That literally cuts my college costs in half. I don't need to worry about financial aid this year, because the money my parents have saved will now more than cover expenses for my first year.</p>
<p>I looked on the Mizzou website and all their need-based grants absolutely require submitting the FAFSA by March 1. I could still submit it, but the only reason I would do that is for loan reasons, and I don't need any loans this year. I will definitely submit it next year, though - lesson learned! </p>
<p>I am definitely relieved, even though I would have made it happen regardless, even if it meant a ton of loans. I'm sorry if I seemed angry at anyone. I was frustrated by all the suggestions to try another school when my question was how to pay for Mizzou, not college in general. But I very much appreciate everyone's advice. These boards have been extremely helpful!</p>
<p>send in the fafsa... most places accept em long after the deadline, only thing is... u wont get ur aid package before the acceptance date of may 1st</p>