Help with financial aid packages?

Paying for College
1

<p>Hello! I'm trying to decide between two financial aid packages, and I'm unsure which is considered better or even affordable. </p>

<p>School 1:
Total COA: $20870
Direct Sub Loan: $3500
Direct Unsub Loan: $2000
College Grant: $1253
Scholarship: $3090
Parent PLUS Loan: $11027</p>

<p>School 2:
Total COA: ~$42000
Scholarship: $23950
Direct Sub Loan: $3500
Direct Unsub Loan: $2000
Work Study: $1139
Unmet need: ~$11000</p>

<p>EFC is ~$6000.
My parents have adverse credit history in the past (about 3 years ago, since then have been working on correcting it). I'm afraid they will not qualify for a PLUS Loan, but they have not filled it out yet because I was told that you wait until you decide on a college first? Or do we go ahead and fill it out and see if we are approved?
Thank you for any help! I really appreciate it.</p>

2

<p>As you see, the cost to you will be very similar. One gives you some work study. You will not be able to get this gap filled through more loans to you unless your parents get denied then you get 4k extra in loans. You can probably make a bit in the summer toward it and put more hours into a p/t job during school. Why would your parents take on so much in loans if they are on shakey ground financially? That would be a cost to you of 27k and another 44 to them. Don’t you have more affordable options?</p>

<p>Is School 2 a lot better quality than school one because of that coa difference?</p>