Financial situation

Paying for College
1

<p>Ok here's the situation.</p>

<p>Total cost of attendance $16,000</p>

<p>Parents can pay $ 3,000
Subsidized Stafford $ 2,331
Unsub Stafford $ 294
TAP $ 500
Total= $ 6,125</p>

<p>16000-6125= $9875</p>

<p>Now I'm gonna need to take that out in private loans. The school suggested a PLUS loan but those loans are high interest and I dont want to burden my dad with that. So if I go private loans are they also no interest while youre in school or is that just federal? Also what is the going interest rate if anyone knows? Last question, my dad has a REALLY poor credit rating, will he still be allowed to co-sign my loans? Thanks a lot.</p>

2

<p>If your parents are not eligible for a PLUS loan, you can get an increased, unsub stafford loan up to 4000. However it wont be enough to close the gap.</p>

<p>Question,</p>

<p>Is your EFC 3000 or is your EFC higher, and your parents can't afford the EFC.</p>

<p>If your EFC is only 3000, where is your Pell grant and I would think that you would have gotten a larger TAP award.</p>

3

<p>My EFC is $12k and my dad cant even near to pay that</p>

4

<p>unsub stafford you will have to start paying interest right away. I am sure any private loans will have interest during college whether you can find one that will accumulate it until you graduate and how much it is going to cost you it is another question.
Any other options for you- two year community college? Commuting?</p>