<p>…but my parents insist that they are not paying for anything. How do I close the ~$35k/year gap between what loans, grants, and scholarships cover and my cost of attendance?</p>
<p>Many students discover they can not afford to go away to college, attend private universities, attend the college that is their first choice–all because of that gap. The gap can only be covered by the conventional means, of which for most students, is not enough.</p>
<p>Student loans are limited as you probably know. Summer work and part-time savings will only get you so far. Scholarships/school grants (reserved for students with the very top stats, and those are still rare as well) may be hit or miss for you. Perhaps if one has a co-signer who has robust credit, some loans could cover part of that gap–but that route usually doesn’t work for huge sums of money over several years.</p>
<p>Look to community college plus transfer, colleges you could live at home commute to to save money, and less competitive colleges where your stats would stand out and perhaps garner a good college based grant.</p>
<p>What year are you? I don’t think you’re a senior yet.</p>
<p>You only have a few options.</p>
<p>1) get high stats (high test scores and high GPA) and apply to the schools that give HUGE scholarships for stats. These won’t be ivies or other top schools, but many are very good schools. The merit scholarships have to be HUGE…such as free tuition PLUS…so that your remaining costs can be covered with a student loan and summer earnings.</p>
<p>2) commute to your local public if a 5500 student loan and your own earnings can cover the rest.</p>
<p>3) start at your local CC, save your earnings, and then go someplace you can afford for your last 2 years.</p>
<p>I realize that your parents can’t pay $25k, but is there a reason why they won’t pay one dime?? Are you sure that they won’t pay a few thousand to help out?</p>
<p>YOU can only borrow the following amounts:</p>
<p>5500 frosh
6500 soph
7500 jr
7500 sr</p>
<p>Private scholarships are not likely going to work since most are for small amounts, are hard to get, have a “need” component, and are ONLY for FRESHMAN year (one time only awards for frosh). So, you would be short for your other 3 years. </p>
<p>The large scholarships (which you need) are from the schools that give them.</p>
<p>If you become a NMSF/F, then you can get a free ride somewhere.</p>
<p>If you’re a soph or junior in high school, get a job now and in the summer and start saving. You’ll need that money for “day to day” personal expenses and books when you’re in college.</p>
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<p>If you are going to have a $35,000 GAP after you receive your aid, and your parents will not pay for your schooling, you need to find some less expensive school options.</p>
<p>Look for schools whereby you would receive significant merit aid, or where the costs are modest enough that you can work and pay as you go. </p>
<p>And look at schools where you are guaranteed scholarships that are merit based. Remember that if your parent contribution is $25,000, at most places even merit awards will not reduce that parent contribution…merit awards will reduce your need.</p>
<p>You’re not going to close that $140,000 gap. Colleges won’t make up the difference if your parents just won’t pay. You need a whole different strategy. </p>
<p>From your other posts, I see that you want ibanking. Some ideas.</p>
<p>1) Merit Scholarships</p>
<p>If you look at the WSJ list of feeder schools, you have to go pretty far down to find schools that offer merit scholarships, and those are really hard to get. The schools that offer a lot of great merit scholarships are not on that list. </p>
<p>2) Service Academies</p>
<p>West Point, Annapolis. They pay you. Of course you have to serve as a military officer for something like 5 years. This definitely qualifies you for a top MBA though. </p>
<p>3) This one is hard, but doable if you’re determined enough
a) Go to an affordable but well regarded school, study engineering. Ace it. For example New Mexico Institute of Mining’s list price is around $20K/yr. Cooper Union is even cheaper and you’d be in New York.
b) Go to graduate school at a feeder university so that you get access to the recruiting. Get a master’s degree in engineering.
c) Get a job that will prepare you to get into a top business school.</p>
<p>Why the engineering? One of the requirements of getting into a top MBA program is 2-3 years of good work experience. It’s really hard to find that experience if you can’t even get a decent job. Engineering will maximize your salary after a bachelor’s degree. </p>
<p>4) Drop out, start your own successful business, sell it for at least $140,000, go to college.</p>
<p>IDC, I also think you should discuss your “post high school” options with your parents. I would suggest that you bring information about a variety of colleges to the table…not just the most expensive options. Discuss with them what they hope to see you doing after you graduate from high school, and how/if they can help you reach those goals.</p>
<p>^^ It’s the idea that people “learn from experience, not education” that makes them feel the way they do.</p>
<p>So they prefer that you do not go to college? Then show them the stats where college educated population earns more than H.S. educated. Show them that your intended profession can’t be achieved without a degree (if applicable.) Discuss how having education doesn’t preclude learning from experience as well.</p>
<p>Are you saying they will not pay for any school at all? It seems reasonable to me that they would not pay for $100k worth, but not even state flagship?</p>
<p>Are you assuming that all of your efc of 25k will be covered by grants and scholarships? Many schools do not meet full need, so you may need more than 35k to meet your costs. Remember, the efc number does not mean that is all that your family is expected to pay.</p>
<p>Many parents are terrified of college costs. They may be barely covering groceries now and wonder where more money is going to come from. </p>
<p>Do sit down with them and consider if they are worried (one hint: anger. If a parent is furious at the idea of big bills, there may be fear underneath. Classic Fear/Aggression behavior). </p>
<p>Don’t loose your temper. Stay calm. Don’t fling their shortcomings in their face. Explain the limits that mom2 above posted. You, alone, cannot borrow enough to attend college. </p>
<p>But you can choose a much, much cheaper college. Most in-state publics are $20k if you live in the dorm. Maybe $12K if you live at home. Lay out the options </p>
<p>1) Stay at home and borrow $5,500. Would parents pay the gap to $12K?
2) Go away to college. Borrow $5,500. Would parents pay the gap to $20K?
3) Join military
4) Stay at home and work locally. Would parents be ok with this? Pay for any sort of community college?
5) Work (probably minimum wage) and live independently at the poverty level – is there any option they see for you that avoids this one?</p>
<p>What other options do the parents see? Be respectful – but do point out that college costs have exploded, so “working yourself through college” ended in the 1990’s. </p>
<p>Be respectful and do point out that what you learn for you will help for younger siblings (if any). </p>
<p>This sort of hard conversation is happening all around the country. You are not alone. (Maybe parents will support you pitching a tent at one of the protests. . . )</p>
<p>*Are you saying they will not pay for any school at all? It seems reasonable to me that they would not pay for $100k worth, but not even state flagship? *</p>
<p>But what if they live in Pennsylvania, where Penn State COA is $130k?</p>
<p>Then 2 years at a CC followed by 2 at Kutztown or Slippery Rock or Shippensburg etc., perhaps PT while working. Thousands of kids do it and go on to live successful lives.</p>
<p>If your parents opinion is that you learn by doing, would they consider funding a heavily co-op school such as Northeastern or Drexel if you agree to apply any earned income to the COA? </p>
<p>(PA also has many two-year regional Penn State campuses in addition to the the state u’s mentioned by annasdad. If close enough to commute, they often offer a smooth transition to main campus or even completion of a Penn State degree at a lower cost. Not as cheap as a CC, but a solid option and the degree still says Penn State).</p>
<p>annasdad - I was just pointing out the fallacy of BrownParent’s assumption that the state flagship costs less than $100k (he/she might be a few years out of game, or live in a state with better bargains). </p>
<p>Sadly, the days of cheap flagships are vanishing. Even though Penn St is the most expensive, there are a number of others over $100k - with more on the way.</p>
<p>annasdad – And please remember, PA has some really high priced CCs (mine is $141/credit +activity fees + books + parking). Most are not accessible by public transportation. It would require a car & insurance. We are pricing teen driving insurance now and getting $2100-2400 to add teen driver WITHOUT a vehicle. </p>
<p>I haven’t met anyone who was able to complete a CC transfer to a PASSHE school and graduate all within 4 years. </p>
<p>Moving out of PA is looking like a viable option for my family before my 2 youngest hit high school because of the costs of college.</p>
<p>OP - Do have a sit down with your parents and discuss their expectations after you graduate HS. See if you can live at home for free. Look at local colleges, commuting costs, etc. Consider a gap year to work. It isn’t easy, but it is doable.</p>