i have to pay 24,000 for college. which relatively isn’t that bad but my dad says that will double to 40,000 because of interest rates. I applied to many scholarships but so far I haven’t gotten any. I didn’t receive any financial aid either.
HELP
You can only borrow ~$5500/year, so if your parents won’t pay for UConn, you can’t afford to go there. Did you get a financial aid package from the Univ. of Hartford yet? What are your parents saying about how much they’ll pay?
My parents will pay for UConn but they want to pay less. ( of course) UHart gave me a 23,000 scholarship. However, if it still costs me alot even if i commute. @austinmshauri
The best aid generally comes from the colleges. You can’t borrow more than ~$5500/year.
You can use a [federal loan calculator](Loan Payment Calculator - Finaid) to see how much interest would be added to the federal student loans (~$27k over 4 years). If you had a $27k loan balance and the interest rate was 4.3% and loan fees were 2%, after 10 years of $282/month payments you’d have paid $34k (the total Interest paid would = $7k).
The [University of Hartford](Admission - University of Hartford) COA for commuters is $37k. If you got a $23k scholarship, your net cost is $15k. That’s $60k for 4 years.
The [url=<a href=“http://financialaid.uconn.edu/cost/%5DUConn%5B/url”>http://financialaid.uconn.edu/cost/]UConn[/url] OOS cost is $54k. That’s $216k over 4 years.
Are your parents really willing to pay ~$50k out-of-pocket for UConn every year when they could pay less than half as much for you to commute to Hartford?
What is your intended major?
Computer science @thumper1
What is your financial aid package for the upcoming year?
@thisizmyyear2016 The rooms are fine but they are on the small side. Uhart is known for it’s arts. The art school is great. The maths and sciences are good but not great.
I don’t know about the clubs but I know that it’s a “dry” school. There are parties with drinking and all that but they aren’t that great. I don’t know why but most people don’t go to the parties. I didn’t hear about any issues with people getting too high, so I would assume it’s not bad.
I think the 56K per year includes the scholarships and the loans, but I’m not sure. You should email them.
We need to know your price per year and breakdown of loans.Copy and paste the cost and aid data from your letter and we can help you understand it. We don’t need to know the 4 year discount, that number is pretty meaningless. Are you going to be in debt 24k for the total of 4 years or is that per year? Here is the repayment on 24k total… However if you are in medical school then the interest continues to accrue for those years unless you pay it annually.
Loan Balance: $24,000.00
Adjusted Loan Balance: $24,000.00
Loan Interest Rate: 6.80%
Loan Term: 10 years
Minimum Payment: $50.00
Monthly Loan Payment: $276.19
Number of Payments: 120
Cumulative Payments: $33,143.28
Total Interest Paid: $9,143.28