Hello everyone,
I am looking for advice or suggestions on debt/financial aid.
Yesterday I was accepted to UC Santa Barbara (economics/accounting) which is one of my top three dream schools (USC #1, Berkeley #2 respectively).
After working hard for two and a half years at my CC I started to come down to earth after my acceptance and calculated my debt/financial aid. I calculated my debt to be around $30,000-$40,000 for two years at any of the three colleges (calculating on the high side with living expenses paid for).
My situation:
My EFC is currently at 3000 However, I was laid off at the beginning of last year and received unemployment (my CC changed my EFC for 2016-2017 to 0000)
So expected EFC for 2017-2018: 0000
I am 30 years old
I did not graduate high school and received my GED, ranked 125/125 (involved in gangs etc.)
No kids
Moved to California three years ago on a mission to get into a top tier school here.
I currently have around $7k in debt ($5k student loans and $2k of misc debt)
All said and done I am looking at $7k of debt plus $30,000-$40,000 of debt after my bachelors degree.
I am hoping to get into Marshall or Haas Schools of Business for (accounting/admin).
I am hoping to have a part time (very part time) job, hoping to make connections, intern, whatever I have to do to shave some that debt off.
I feel like any debt under $50k is reasonable given my situation. I started from the bottom and now I’m here, no pun intended. While the debt is huge, I believe it can completely alter my lifestyle given the schools I want to attend and degree I would receive.
Anyone have any input/suggestions/ideas? Thanks.