<p>My absolute dream school is the University of Missouri. I've ran the net price calculator for 1 year OOS and 3 yrs in-state (Missouri residency is easy) and it came out a total figure of $68000. $10000 of this will be paid for by my parents, and i could probably get another $10000 in outside or departmental scholarships over those 4 years (3.9 GPA, 33 ACT). My question: Is $48000 in debt manageable for an engineer? Planning on chemical or computer engineering (heard you needed master's for bio to get a decent job).</p>
<p>$48k is a lot of debt. You’re going to have Stafford loans on top of that. So, about $75k in debt total.</p>
<p>I don’t think Mizzou is worth OOS rate for eng’g. It’s a nice school but not worth OOS rates.</p>
<p>You have the stats for a good amount of merit at other schools.</p>
<p>who will be cosigning those loans? Your parents??</p>
<p>I’m curious as to how you got those numbers. The OOs cost for one year is $35k. do you know what your FAFSA EFC will likely be?</p>
<p>Also, did you know that if you get residency, you forfeit the OOS scholarships you’ve been given?</p>
<p>We went to Meet Mizzou day in May and went to the residency meeting. The stipulations didn’t seem to tough and i would be willing to stay the summer to save 10000 dollars. </p>
<p>As much as I hate the idea of going to another school, here are my other options:</p>
<p>Will be applying to Notre Dame (hope to be getting a 34 or 35 tomorrow to boost my chances) (~14000/year cost)</p>
<p>SEMO in cape girardeu (butchered that haha): Full ride pre-engineering 2 years, 2 years mizzou (visiting there in next month or so, will see how it goes)</p>
<p>Alabama: full tuition + $2500 / year (mom isnt too hot about that [9 hours away])</p>
<p>Northern Illinois: 22,500/year scholarship (doesnt have my specific major)</p>
<p>UIUC: expensive!!! more so than even mizzou</p>
<p>SIUE: Full ride… (too close to home, everyone from my school goes there, only computer engineering)</p>
<p>And to be honest, I know very little about student loans.</p>
<p>*Recommend colleges for me
Hi I’m from Illinois looking for a school with a decent engineering program, preferably bio or chem. 33ACT 3.9 GPA. Kind of want to go OOS because I hate illinois. But I can only pay a COA around 15k a year. </p>
<p>My parents are only giving me 2.5k a year and the rest is up to me. So I am definitely looking for some good merit money and hopefully some FA as well (50k income). So Purdue is out of the question haha. I’ve been looking at mizzou, missouri s&t, NIU (22.5k a year automatic) and vanderbilt ( I probably wouldn’t get in though).
*</p>
<p>From the above, it doesn’t sound like Mizzou is your dream school. It looks like you’re open to a variety of schools with good eng’g that are affordable. With your ACT 33 and GPA, you could find some more reasonably priced schools that as good or better than Mizzou.</p>
<p>For eng’g, Alabama would give you free tuition plus $2500 per year. Your remaining costs would be about $12k per year. Beautiful campus and new Science and Eng’g Complex…gorgeous and state of the art. </p>
<p>Many Illinois students are at Bama.</p>
<p>It IS my dream school though. I was trying to stay somewhat objective so i could get good suggestions from people instead of being lectured (which seems to happen here quite a bit lol). anyway i would definitely consider Alabama if my mom would even talk about it. She is worried about medical issues and not being able to see me (empty nest [her baby]). Bama would put me around $25-$35k, probably closer to 25.</p>
<p>*We went to Meet Mizzou day in May and went to the residency meeting. The stipulations didn’t seem to tough and i would be willing to stay the summer to save 10000 dollars. *</p>
<p>I highly doubt that you could earn/save $10k over the summer, especially since you’d be paying for rent, utilities, food, etc. You haven’t figured the costs of those 3 months. </p>
<p>Even if you earn $10 an hour during the summer, that’s only $400 a week. For 12 weeks, that’s only $4800 (minus taxes, FICA, etc)</p>
<p>The Net Price Calculator does NOT figure in the costs for summer months.</p>
<p>Apply to Bama this summer and submit the scholarship app to have that as a back up.</p>
<p>As for student loans…your Stafford Direct loans that were figured by the NPC are taken w/o cosigners. But, you’re considering add’l loans, which will need co-signers.</p>
<p>mom isnt too hot about that [9 hours away</p>
<p>Well, does your mom know that if you go to Mizzou, then you can’t come home during the summer except for a very short time?</p>
<p>Haha the $10000 would come from the ability to gain instate tuition, not working. But I would still have to work. And yes she is aware, but after your qualifying period you can do whatever you want. Meaning that I would have to stay that summer between fresh and soph year but after that I could do whatever.</p>
<p>If you do try to establish Missouri residency make sure you coordinate with your parents:
</p>
<p>This is slightly off-topic, but have you looked at Missouri university of science and technology? It has a different feel than Missou, but it is more prestigious for engineering and will have a better chance of job placement. I had similar stats to you and got really close to a full ride (OOS). Also, do you live in a state bordering Missouri? You have cheaper tuition to all Missouri publics if you do. Also, residency is very easy to claim in Missouri after even going to college there for a year</p>
<p>You might want to look at UIC as well as UIUC.</p>
<p>I don’t think It is off topic at all. But I did visit there, an I just did not like it. The people were pretty nice, but I just couldn’t see myself there.</p>
<p>Also mizzou has a 96% placement rate (grad school or job) so I’m not really worried about that part of it.</p>
<p>Sorry I misunderstood the $10k summer issue.</p>
<p>So, when you ran the NPCs, the results would have included full federal loans (about $27k total for four years). </p>
<p>So, you’re talking about borrowing another $48k. That’s $75k in debt. Too much. And, your parents may not want to cosign because they’ll be concerned that you won’t be able to afford the payments.</p>
<p>Mizzou’s npc does not include any loans, just federal, state, and institutional aid. It specified this directly. It is one of the non specific calculators that is really short. And I haven’t run one for Alabama. Nd’s didn’t include loans either I believe.</p>
<p>What federal aid did Mizzou’s NPC show?</p>
<p>the NPC is out of date:</p>
<p>****Academic Year: 2010-11</p>
<p>Estimated tuition and fees $19,690 (<strong><em>This may now be $23,666 per Collegeboard)
- Estimated room and board charges
(Includes rooming accommodations and meals)
$8,600 - Estimated cost of books and * *</em>supplies $1,070
- Estimated other expenses
**</strong>(Personal expenses, transportation, etc.) $3,110</p>
<p>Estimated total price of attendance: $32,470
- Estimated total grant aid:
(Includes both merit and need based grant and scholarship aid from Federal, State, or Local Governments, or the Institution)
$7,686</p>
<p>Estimated Net Price After Grants & Scholarships: $24,784 (does not include summer R&B)</p>
<p>tuition, fees, room and board costs are higher and will rise every year.</p>
<p>im guessing the federal would include pell etc.? not sure</p>
<p>Nick, absolutely include Mizzou on your list of schools. As well as ND, and Bama and any other schools that have features that catch your eye. Just make sure you have a couple of schools you konw you could afford and will take you. If Mizzou pans out with the numbers, congratulations, and it’s a go.</p>
<p>My friend’s DD went there. It cost a lot less those days. She got $5K right off the top from some OOS scholarship which back then lowered the cost to Illinois in state school costs for her. But these days, who knows, though with IL’s instate prices, it isn’t all that difficult to beat it OOS with just a little bit of sugar. I don’t know what is available these days, but certainly put your hat in the ring.</p>
<p>^^</p>
<p>It doesn’t sound like the student can even afford UIUC, so meeting or just beating the instate cost isn’t the real issue. </p>
<p>The parents will only pay $2500 per year. That and any UIUC aid wouldn’t come close to covering its COA.</p>
<p>The student says he’s looking for an out-of-pocket cost of about $15k per year. </p>
<p>It’s not likely that he and his family can come up with that much. He can borrow $5500, his parents will contribute 2500. That’s $8k. It sounds like he might get a small Pell Grant at that income (maybe $2k?), so that’s $10k. The student might be able to save a couple thousand over the summer working, but not if he’s having to pay summer rent in his college town.</p>
<p>It’s doubtful that the parents will want to cosign for extra loans each year. That’s a large risk and most parents won’t do it.</p>