got accepted..now what?

Paying for College
1

<p>I just find out that I got accepted to college for the 2012 school year! Wooo!!
This is a little off topic..but what exactly do I do now?</p>

<p>Second, the estimated cost of attendance is coming to 24000, according to what is on the school website.
Its an out of state school, which for 24k, a good deal.
My parents are in a chapter 13 right now, which is not going to help me out at all because they have absolutely no money to spend for college next year, and they will not be able to cosign on any loans-which means no private loans and no parent plus loans.
My GPA is not that great... so I don't think I will not be able to apply to a lot of the scholarships that are for the students with exceptionally great gpas.
But I REALLY want to go to this school...I will have probably around 4000 in my own savings by that time... but I am worried about the federal help.
Because my mother and I did a practice FAFSA, and our EFC is around 20,000 which is IMPOSSIBLE because they are in a bankruptcy. Does the fafsa take in account that sort of situation? can anyone help me now? I have a year because I start colllege but I NEED to be prepared.</p>

2

<p>Is the school going to give you any aid?</p>

3

<p>Thats what I don’t know yet…I just found out I was accepted on Saturday. When will I know if I get any aid or not from them?</p>

4

<p>Call them up and ask.</p>

5

<p>No, the bankruptcy will not change your EFC or aid. Schools don’t care about that.</p>

<p>While I offer congrats on acceptance to this school, since it is an OOS public unless your stats are high for this school and they give you a generous merit scholarship, this school will not likely be affordable.</p>

<p>Are your stats high for this school? Does it give big merit scholarships?</p>

<p>If not, then you need to come up with a strategized list.</p>

<p>*our EFC is around 20,000 *</p>

<p>Unless you get big merit scholarships from a school, your parents will be expected to pay their EFC.</p>

<p>You can borrow 5500 and if your parents get declined for a Plus loan, then you can borrow $4k more. But, be aware, that is bittersweet…the more you borrow, the harder it will be to pay back.</p>

<p>Obviously 9500 is not going to pay for many schools. </p>

<p>What are your stats?</p>

<p>What state are you in?</p>

<p>How much are your instate publics? Is there an instate public that you can commute to as a safety school?</p>

<p>What is your likely major?</p>

<p>(You have to be very careful as to where you apply. That unaffordable EFC is going to be an issue at all schools where you don’t get large merit or has low tuition and you can commute. Even privates are going to expect you to pay your EFC…unless they give you huge merit.)</p>

<p>I will have probably around 4000 in my own savings by that time</p>

<p>that is for one year. And some of that will likely be needed for some other costs and daily personal expenses. </p>

<p>Again, you won’t get any free money from FAFSA application…at most, you’d get 9500 in loan (after parent plus rejection).</p>

6

<p>Check with the admissions officer for your region and ask. You can’t file FAFSA until January and most colleges will process freshman first. Most often the financial aid letter will be sent to you in the spring. Read the website before you call or send an e-mail so you don’t ask questions that are already answered. Look for automatic scholarships based on your GPA and ACT or SAT scores. Then look for scholarships for freshman. Look for scholarships for out of state students. After that ask your admissions officer if you have any additional questions. You can apply for local scholarships, your guidance office should have information on those but remember those might only be for one year and you need to think about 4 years. </p>

<p>You will be able to take a federal loan in your name for $5500, if your parents apply and are denied a Parent Plus loan you will be entitled to borrow I think another $4,000. Some financial aid offices will allow you to appeal aid in which case you could appeal and see if they will adjust for your parents bankruptcy, but this is at the discretion of the college…there is not hard and fast rule how this would be handled.</p>

<p>You will have enough between your savings and federal loans to attend a community college or perhaps a public college where you can commute. Perhaps a couple years will allow your parents to get back on their feet and help you some. </p>

<p>[FinAid</a> | Professional Judgment | Bankruptcy](<a href=“Your Guide for College Financial Aid - Finaid”>Bankruptcy and Financial Aid - Finaid)</p>

7

<p>

</p>

<p>Actually that is not completely true. Some colleges will do a special circumstances consideration and make a professional judgement. HOWEVER…not all colleges will do this…it is handled by each school. You need to find out IF this college handles these sorts of things.</p>

<p>Were your parents recently laid off from their jobs? Will their income be below $50K per year for 2011? These are things that could potentially help you with federal aid if the answer is yes.</p>

<p>In the meantime, while you love this school (and congratulations on your acceptance), you might want to consider applying to some other schools where either you would get some merit aid OR where the prices are in keeping with your family finances…</p>

<p>Good luck to you…and I hope your family financial situation takes a turn for the better.</p>

8

<p>*Actually that is not completely true. Some colleges will do a special circumstances consideration and make a professional judgement. HOWEVER…not all colleges will do this…it is handled by each school. You need to find out IF this college handles these sorts of things.</p>

<p>*</p>

<p>Yes, I could see some schools with a healthy amount of aid to give doing this, but I doubt a FAFSA-only OOS public would reduce a $20k EFC simply because of a bankruptcy…unless it was because of medical expenses or maybe job loss. </p>

<p>Maybe I’m reading too much into this, but it appears that the family still has a decent income (hence the potential $20k EFC), but won’t be able to contribute for college because of the restructured debt payments from the Chap 13.</p>

<p>I think you still have to have a regular and good income for Chap 13. </p>

<p>This student can certainly ask, but she needs to protect herself and assume that it will not work out and find schools that will. And, because of her circumstances (an unaffordable EFC), she needs to carefully apply, otherwise she could have a handful of unaffordable acceptances.</p>

9

<p>If you’ve done the EFC estimate correctly, it sounds as if it is entirely unaffordable…but it will have a major impact on the awards you’re given. You definitely need to apply to additional schools, consider a gap year to work/save money if you’re in an area with jobs available, and also consider starting at a community college - that alone can save a bundle. I see that a few weeks ago you posted that you’re moving to North Dakota. NDSU instate rates are significantly lower…less than $14K in billable costs, including R&B and their freshman scholarship criteria is not terribly high. I think you’re going to have to do a combination of things in order to get the degree you seek - look for lower cost alternatives, scholarships that aren’t based on gpa, save all you can, borrow what you must (but try not to borrow much more than the Stafford max each year.) </p>

<p>Do you have a potential major in mind? What are your current stats?</p>

10

<p>I don’t know if the parents are moving or if the student is talking about her college move to that state.</p>

11

<p>I am not moving there I only posted that because I wanted to see what the city was like and the area. This is just terrible because I absolutely love the school and I really don’t want to do a gap year.
My major is nursing. I live in Oregon right now, and none of the big state schools have nursing programs. The only ones that do are expensive private ones. There is also a few smaller schools that do, but they are the same nursing program so I feel like it would be much harder to get in too.
How do doctors get all of their loans? Part of me feels like I don’t even care about getting lots of loans, all I want is to go to college and get my degree, and I would prefer to do it in ND.
My grades aren’t all that great… 3.2 gpa and 24 act. I am taking the sat next month.
I am going to apply to one of the cheapest schools in oregon with a nursing program as a back up school. I will do more research this weekend. There is nothing special about me, except my dad is a disabled vet. Any scholarships for that? I think he is 40 or 50 percent disabled.
I am just so upset, I am wanting to go to college like any other normal teenager right after I graduate. Not a year after and not to a community college. If any of you could help me find a school, cheap, doesn’t matter where… With a nursing program I would be grateful.
Thank you for all your responses.</p>

12

<p>I may not have done the EFC correctly… I will have my mom help me do it again tomorrow. And in january when I can fill out the fafsa, I guess I will be making my final decision.</p>

13

<p>Are private loans bad to take? The only loans I would be able to take is the 9500 one? How am I supposed to pay for any of my college any years? I can’t save up that much in one year… Minimum wage isn’t that high. :(</p>

14

<p>Private loans require a cosigner with good credit…but they may leave you (or your cosigner) with an unaffordable amount of debt after graduation, or your cosigner may not be willing to cosign year after year while you’re in school, leaving you with debt and no way to finish your education. Many people, including many parents, will not cosign loans for others due to the negative impact it can have on their own credit. I would be very, very cautious in using this approach to financing your education.</p>

<p>Does your dad have veteran’s educational benefits that are transferrable to you? I believe there are scholarships out there specifically for children of vets, but they may be competitive.</p>

<p>Schools and the government feel that paying for college is primarily the family’s responsibility and that funding should come out of past, present, and future earnings. This a problem for many families who are on the cusp between low income and middle income as they often have a difficult time making ends meet…but it’s what it is. Would you qualify for any state aid if you stayed in Oregon? </p>

<p>Since the first two years of most 4-year nursing programs are pre-nursing anyway, can’t you take those classes at a CC and then apply to nursing programs? Have you thought about doing an associate’s degree in nursing and becoming a LPN? That should give you a better income for a year or two while you save to finish your education. In my area even CNA’s, who often don’t have a degree but have completed an employer provided training program, make more than minimum wage. </p>

<p>A quick google search turned up this list of nursing programs in your state which includes several CC’s that offer direct entry to nursing programs at what appear to Oregon public uni’s:</p>

<p>[Oregon</a> State Board of Nursing Oregon Nursing Education Programs](<a href=“http://www.oregon.gov/OSBN/RN_LPNprograms.shtml#Baccalaureate_Degree_Programs]Oregon”>http://www.oregon.gov/OSBN/RN_LPNprograms.shtml#Baccalaureate_Degree_Programs)</p>

<p>I don’t know how selective 4-year nursing programs are in OR, but this might be a good option for you since your HS gpa isn’t as high as you wish.</p>

15

<p>How do doctors get all of their loans?</p>

<p>Loans for med school are very different. Those people already have BS degrees and once accepted to med school, the drop out rate is low, so the risk to loan money is much lower. </p>

<p>Your parents will not qualify to co-sign private loans…nor should they.</p>

<p>You have to understand that going away to college is a luxury. Most kids commute to their local school. </p>

<p>It really doesn’t matter if you are a little off with your EFC estimate. An OOS public like the one you’re considering won’t give you much aid, and your stats won’t get merit scholarships.</p>

<p>If you want to be a nurse, then don’t go into big debt for that. That is silly. Go to somewhere local where you can get your nursing degree. </p>

<p>Many CC’s have 2 year RN programs, so you could become a RN and then get your BS later.</p>

16

<p>Just a note about the LPN route… My mother is a RN and she says that LPN positions are being liquidated. They are a step above nurses’ aides. So even though it may be affordable now, in the long run your job prospects will be smaller. </p>

<p>My mother has an associates in nursing, and she’s an RN (going for bachelors and masters, her job pays for it).</p>

17

<p>Yes…</p>

<p>I don’t know about all states, but many states have RN degrees that only require an Associates Degree from a CC.</p>

<p>Sk8rmom may have a different situation in here state. Maybe there you can’t get a RN at a CC like you can in other states.</p>