Getting financial aid

Paying for College
1

<p>I will be starting my third year out of a six year program come next week. It is a private college (I only got accepted into private schools for my major and only one public school has it but I got rejected.) Practically my entire life, my parents assured me they will pay for everything. I was not really brought up to be independent even though my parents kept yelling at me to do so. I can't do it if they insist on babying me for everything. For the past two years, I have been forcing my way on aspects. For example, just yesterday they barely let me go to the library and Best Buy on my own even though I drive. </p>

<p>Okay so, my mom keeps saying they will pay for everything. My dad, however, wants me to take more and more loans or something. I got $5000 in scholarship per year guaranteed. I found out I could appeal this so I appealed and got a total of $5000 extra throughout the three years. (I need to re-appeal each year.) </p>

<p>Stupid me, last year I really wanted to help my dad so I took a $5500 subsidized federal loan. This year, I took it again but now dad wants me to take a COMPLETE loan for year 4. I am panicking a bit. </p>

<p>The total cost of this school is $52,000! After my scholarship, appeal grant, and loan, my dad will be paying $40,000 this year. My efc always comes out to be $46,000 but my dad keeps complaining that he has no money. </p>

<p>Frankly, he's worried that he will lose his job soon. Both of my parents work for United States Postal Service so a quick search will tell you that the job situation is very unstable right now. There was a rumor for a while he would be transferred but his work place didn't close and the rumor was false. </p>

<p>I'm so confused because I don't have a job (I tried this summer but failed.) Meanwhile, my mom keeps telling me they will pay all of it and not to worry. </p>

<p>How can I even get a $48,000 loan which is what the cost will probably be next year after my scholarships? I heard Sallie Mae does it and all my parents have to do is pay like $300-$400 a month until I graduate and all I have to pay is the principle. But that is like $150,000, jeez. </p>

<p>Is it possible I can get more at a lower interest rate if my dad writes a letter to the school saying he is refusing to pay the cost? </p>

<p>I want to find scholarships but I tried so many and I didn't get a dime..</p>

2

<p>

What is this 6-year program? In what year you’ll be considered as graduate / professional student? Graduate / professional student can borrow up to $20,500 (unsubsidized only) per year. See [Subsidized</a> and Unsubsidized Loans | Federal Student Aid](<a href=“http://studentaid.ed.gov/types/loans/subsidized-unsubsidized]Subsidized”>http://studentaid.ed.gov/types/loans/subsidized-unsubsidized)</p>

<p>Also, your parents may consider the Direct PLUS loans if your parents have no money. See [PLUS</a> Loans | Federal Student Aid](<a href=“http://studentaid.ed.gov/types/loans/plus]PLUS”>http://studentaid.ed.gov/types/loans/plus)</p>

<p>Good Luck!</p>

3

<p>I will be considered going to a bachelors degree until the end of my fourth year. Years 5 and 6 are graduate years. I am studying pharmacy. </p>

<p>My parents have money, they just don’t want to pay. They expect money to magically come down and make the cost of college like $10,000. Then again, if that did happen, they would think that was ridiculous as well…</p>

4

<p>You won’t be able to borrow more than the Stafford loan. Your parents would have to cosign for any loan larger than that. </p>

<p>It seems you mother and father are not on the same page. It also seems like your parents can’t really pay for this expensive school. You have to have a family meeting about this and map out what is going to be paid for or not, so you can plan your schooling and know how much personal debt you will have to take.</p>

<p>It seems to me that your parents should pay for the undergraduate years since that is what was agreed to. Usually the student pays for grad school. But you won’t get loans for the full amount either, your parents will have to cosign.</p>

5

<p>I’m sorry…but I do NOT think your dad’s request is unreasonable. He is asking that you take the maximum allowed Direct loan. You didn’t take it at all your freshman year, so your total for the first four years will be about $20,000.</p>

<p>What is your problem with this? Your dad is paying $40,000 PER YEAR which is mighty generous. I’m not sure I understand why you don’t want to contribute yourself.</p>

6

<p>Thumper, his dad wants him/her to take out a 48,000 loan. Dad doesn’t want to pay ANYTHING after this year.</p>

7

<p>

</p>

<p>I see it now.</p>

<p>OP…your dad or mom will have to cosign any loan beyond the Direct Loan limit for a college senior…$7500. Or THEY will have to apply for a get a Parent Plus loan which is in their name.</p>

<p>For your 5th and 6th years, you will be considered a professional school student. Gotta say…a lot of parents agree to pay for 4 years of college but not 5 or 6.</p>

<p>As a professional school student in years 5 and 6, you will be able to borrow significantly more in Direct Loan money.</p>

8

<p>I think that you are set for this year, are you not? For next year, you will likely find that you cannot borrow the amount your father wants you to borrow. So, at that point in time, some decisions would have to be made: 1) yYour parents will pay as they have in prior years 2) they will not or cannot pay, and you have to take off the year if some resoution is not found. Highly unlikely the school will give you anymore money, and there just aren’ tloans out there for students without a parent cosigning, so if your dad is adament about that, perhaps you have to take out a cosigned loan. Then you decide whether you want to just get your bachelor’s degree and call it quits or continue with your program, borrowing the amounts needed to get the degree. You call entirely. </p>

<p>You wil be able to borrow once you are considereda grad student. Maybe your program will classify you as such next year, though that’s not something I’ve often seen. You usuallly are given grad student status upon getting your ug degree.</p>

9

<p>

Are you sure? I thought it is 2 years undergraduate and 4 years graduate / professional. See [AACP</a> - Admissions](<a href=“http://www.aacp.org/resources/student/pharmacyforyou/admissions/Pages/default.aspx]AACP”>Admissions | AACP)

</p>

10

<p>Hey CC. I’m Khalid I’m from somalia but I live in UAE. and I’m going to be a senior student next year. And decided to search for scholarships & financial aids and the universities & colleges that offer it in U.S. I started early cuz I want save my time and get better chances. My major that i’m looking for is Civil Engineering. And I’m soo talented in soccer as well in educations. So if anyone has advices or universities or colleges that’s appropriate to me please acquaint me. And Thank you :)</p>

11

<p>I was told I have to say I am studying for a bachelors until end of year 4. Grad school for me is year 5 and year 6.</p>

<p>Basically, I am okay for this year. My parents do have the money to pay for college, I’d say. But for someone who finds it hard to buy even ice cream when the price rises a dollar, how difficult is it to pay $35,000 one year, $38,000 second year, and then $40,000 for third year with more increases to come? </p>

<p>The difficult part for me is that I hate the school and most of the professors just don’t care about us. Now I will need to take out ****ing $200,000 to fill their pockets…</p>

<p>I found out about Sallie Mae. I can apply for a regular loan there but the interest rate will be anywhere from 3% to 15% depending. I don’t know. </p>

<p>I wish I could get some scholarships based on merit or something but I just can’t besides my own school’s scholarship that I got at the beginning.</p>