Is it worth not going to a better college just to graduate with less debt? I’m worried that if I just choose to go to the cheapest college I’ll feel like I’m missing out on a better education or experience.
Not for education. Many, many, many, many, many colleges have fine Colleges of Education. It’s not difficult for a univ to have a good College of Education.
I don’t think you understand that new teachers don’t make a lot of money, so how would you afford to make the loan payments?
And really, most parents won’t co-sign loans because they can’t afford to pay them back…or they won’t be able to qualify. Your parents don’t have a high income. They may not qualify to cosign 4 years of loans anyway.
I don’t mean to be harsh, but think about this…you “guessed” that you/your family could afford to pay $45k per year, which wasn’t even close to being true. That suggests that you don’t have a grounded idea of what’s affordable or even if paying back loans would be affordable. With an EFC of $17k, it suggests that your parents income is about $80k…yet you thought that about half of their gross income would be an affordable amount for them to pay.
What are the results of the NPC for SIU? You’d have a full college experience at SIU.
My parent’s income is around $145k, not $80k. The result of the npc for SIU was $27k, but I also have a $10k merit scholarship, so it would be closer to $17k.
It’s not a good sign when parents won’t say what they’ll pay. It’s almost January. I’d have an honest discussion this weekend and ask how much they’ll pay each year, if they’ll borrow $30k/year for you, and if they’ll help you repay the loans.
Did the NPC for SIU include the federal student loan? If so, the net price is ~$23k ($17k + the federal student loan). The average starting salary for a teacher in Illinois is $39,000. The monthly payments on a $68k loan ($17k/year x 4 years) is $800. The repayment on a $27k federal student loan will be another ~$250 or so. If your parents can’t pay $1000/month on a $145k income how will you be able to on a $39k income? Before you commit to a school figure out how any loans would be repaid.
Do you have siblings? If so, how old are they? Any others in college or nearing college age?
The NPC for SIU didn’t include the federal student loan.
I have three siblings. One is in community college this year, one is a high school sophomore, and one is in eighth grade.
With 2 in college your parents’ EFC will be lowered, but they have 4 kids to help put through college. Sorry, but the cost of the schools you are considering seem unaffordable/impractical for you and your family, and will set you up for a lifetime of debt. Sounds like your older sibling’s plan is more practical for your family. Best of luck.
To help you answer if you will miss going to a better school what we are saying is that the good news is to become a teacher many schools can prepare you well. So your decision is really a financial one. Think about it: What does Alabama or UIUC have, that SIU wouldn’t have, to become a teacher that is worth you and your family paying $40,000 more ( over 4 years) over SIU? SIU started as Illinois’ second teacher college so I’m sure they really know how to prepare teachers. But look for yourself. Go on each school’s website and look at their college of education and see if there is a difference. Then decide if it’s worth it.
As for better experience, Alabama and UIUC will offer bigger football experiences and Greek scene, sure. Well UIUC football team isn’t so hot right now. Alabama will have a lot of school spirit because of the football national championship. You can always buy an Alabama t shirt for $20 and save the $9980. But is going there worth the extra money for your family with 2 siblings coming behind you? SIU offers Greek, clubs, football, career center, service opportunities etc. Since you’ve said you like all 3, at the end of the day the experience is what you make of it.
Concerned about bragging rights? As I told my kids unless the people you are trying to impress are donating to your education or giving you a job - um not caring. Besides I say bragging is for parents. And my husband and I proudly wear our NIU shirts and hats as much as we wear WashU stuff from our other 2.
When you apply for a teacher job, the focus is not on where you went to school. They want to know if you have a degree, did well in school, have a license in the state to teach, and gained some classroom experience. Why add more financial burden than necessary when you don’t have to.
Enjoy the fact you were accepted into some great schools. Congratulations on your scholarship at SIU. Now review your financial aid offers when you have them with your parents. Go into that discussion leading with your head and not just your heart.
As someone said above, you need to be having this conversation with your parents more so than with us. You need a clear answer to what they can/will pay, being mindful of the other siblings current and potential future college expenses.
- Don’t assume there is teacher certification reciprocity between your OOS choices and Illinois. At the very least, you will need to take the Praxis tests again. You will also have to show that you have met the ILLINOIS course requirements for teacher certification.
- Did you apply to Western Illinois University? If not, why? Maybe their cost would be more affordable. Just as a point...I got my masters there...and know a couple of others who did as well who worked with me outside of Illinois.
It’s getting late except for your instate publics. You need to go to talk to your teachers and maybe your HS principal. Find out where folks got their education degrees.
My parents don’t want me to make my decision about a college based on financial aid only. They said that they’re going to pay as much as they can, but they don’t know exactly how much that will be. I’m going to talk to them about it again after I get financial aid offers from all three colleges.
My older sibling isn’t going to get a bachelors degree and my other two siblings aren’t planning on going to four year colleges right now either.
I didn’t apply to any other Illinois school besides UIUC and SIU.
UIUC historically gives almost nothing for financial aid/especially with your profile They started a new program this year and do have more scholarships but wouldn’t count on those. Unless I am not ready correctly it seems your are contradicting yourself about what your parents are able to do. We had the same attitude with our kids but they knew merit had to be in play for some of their school choices. My daughter couldn’t go to her number one school since it wouldn’t be financially an option with kid two a few years later.
Why wait.? … Have the discussion today and start the new year off right… With knowledge to make a decision.
Ok, so now I see that you posted that you have a sibling in college. That’s why your EFC is that low.
I was estimating income based on one college student with that EFC. Sorry for the confusion. Needless to say, you were still way off on how much you thought they’d spend each year.
Oh good heavens.
Well, if they’re not going to figure out a number, then tell them that when it comes time to pick a school at the end of April, you are going to need that information!!!
What good would it do for you to choose UIUC or Bama on May 1st only to have your parents tell you in the summer that they’ll only pay $10k per year!
Try this…ask your parents if they’ll do an experiment over the next 3 months…ask them if they’ll see if they set aside $1000 or $2000 per month to put towards college. If they can only set aside $1000 per month over the next 3 months, then they may determine that they can contribute $10k-12k per year. If they can save $2000 per month over the next 3 months, then they may determine that they can contribute $20k-24k per year.
If they find that they can only set aside $500 per month over the next 3 months, then you’ll have that answer.
Is your older sister in her first or second year of community college?
@jym626 Second year
Is the $17k EFC at SIU with one in college or two?
@austinmshauri It is with two in college, but it’s the same for one in college.
No…your FAFSA EFC is NOT going to be the same with ONE in college as it is with TWO in college. It’s not.
Plus with $145,000 income…your EFC for one student would be closer to $30,000 a year. Not $17,000.
Something isn’t right with these numbers.
BUT your cost to attend SIU might be $17,000 regardless…because that’s where you got the $10,000 in merit aid…right?
@thumper1 From the npc for SIU, the cost I get is $27k, which would really be $17k including my $10k merit scholarship, whether I choose one kid in college or two.
My fafsa efc is $17k, and that’s for two kids in college.