<p>Right now my family is struggling to figure out how we could possibly pay off our high EFC ($15,396). They believe that I will have to sign out of enrollment because they do not believe that our financial situation can properly pay off our issued EFC.</p>
<p>I’m under the assumption that the only expenses I should be considering at the moment is tuition and housing fees. As an in-state, that will cost me about $27,321. That doesn’t include extra expenses like textbooks, school supplies, and living necessities.</p>
<p>My financial aid package is posted at $12,413, so I still have a gap of $14,908 to pay. If I apply for the Deferred Payment Plan, that comes out to roughly $1,655/month. My family’s doubts stem from the fact that after our expenses are deducted from our family income, we are only left with $850/month to use. Even if my family saves up all that money for the month, it still wouldn’t be able to properly pay off this year’s tuition.</p>
<p>I’m trying to convince my family to cut expenses and budget a little, but it still seems unrealistic to reach that target $1,655/month. We attempted to apply for a Parent PLUS loan and were rejected for it without a co-signer, and no one close to us is comfortable with co-signing. I was also denied private student loans without a co-signer as well.</p>
<p>We also understand that Davis provides additional unsubsidized loans ($6,000) to students whose parents were rejected the PLUS loan, but even that wouldn’t leave us in a comfortable position to pay off college (that still leaves a hole of $8,908 or $990/month). Should I expect to pay as much as I have estimated? Is there any hope in assuming that my total fees may be much less than what I have already estimated? Do upperclassmen have an easier time with paying off tuition and possible room & board?</p>
<p>It seems realistic that I consider the possibility of registering to a JC for the fall semester, but I want to know what my options are before I fall back on my last resort.</p>