<p>Hello, Alabama! I’m a high school senior hoping to attend UA in the fall - I’ve already been accepted and awarded a presidential scholarship. My family is in a very tight spot financially, however, and my mother doesn’t want me taking out any loans. Are there any housing scholarships available to undergraduate freshman?</p>
<p>If it helps, here are my test scores and GPA.
GPA: 4.20 (weighted, 7point scale. this should improve.)
SAT: 2210 (800CR, 660M, 750W)
SATII: 800(Literature), 760(U.S. History)
ACT: 32</p>
<p>edit - I read through another thread with a similar topic, and I feel like I should mention that I’m coming in with quite a few AP credits.</p>
<p>There are very few other opportunities for “housing money.” There’s the NMF scholarship, the Academic Elite award, but that’s associated with University Fellows, and the Crimson Alumni award, but I think only one OOS student gets that. </p>
<p>For those who are eng’g majors, they get an add’l 2500 a year.</p>
<p>For those who aren’t NMF and who get selected for CBHP, then often they’re given a $2k-4k per year award.</p>
<p>As for student loans…To take a Direct Student Loan doesn’t require parent signature. Those are solely the student’s loans. Your mom may not want you to take them out, but for many students it’s the only way to afford college. Schools don’t award more money just because students won’t take the offered fed student loans. Your mom may have to rethink that, and frankly, you don’t need her permission to take them out as long as you fill out FAFSA. You may find out that for ANY school to be affordable, you’ll have to take out those loans. Graduating with $20k-30k in student loans is manageable unless your future career will be extremely low paying. </p>
<p>What is your intended major? </p>
<p>Have you figured out what your FAFSA EFC will be? Will it be low enough for a Pell Grant? </p>
<p>If you have an EFC that is unaffordable (your parents can’t pay it), then you really need to sit down and talk to mom. If they can’t pay their EFC and she’s still against you taking out the $5500 student loan, then she really isn’t being fair.</p>
<p>Lastly, you can write a polite note to Mary Spiegel and tell her your concerns and see if she can throw you some merit money. <a href=“mailto:mary.spiegel@ua.edu”>mary.spiegel@ua.edu</a> It’s a longshot but I’ve seen her do it for some high stats students…when she has some extra money.</p>
<p>Just remember they way UA applies scholarships, if you get any outside they will apply those to tuition first and what ever is left over from your presidential will go towards other expenses (i.e. room & board). So the more outside scholarships you can get will also help defer the overall cost.</p>
<p>I understand what you’re saying, but I must admit, I’m a little put off by it. I worked hard to earn the money for that vacation - besides, as I’m staying with a cousin, the only large expense is the plane ticket. $700 will not pay for a full year of housing. The laptop, on the other hand, is entirely for college purposes, and while it may not be necessary, it’s incredibly helpful.</p>
<p>Thank you for all the responses! I’ve always been a little frightened of student loans due to my parents’ massive debt, but the amount that I need is perfectly feasible. I’ll definitely consider it. :)</p>
<p>I intend to major in Finance & Economics, ironically enough. Obviously I’m much better at the theory than I am with the practice.</p>
<p>Definitely look for outside scholarships (your guidance counsellor may have a list of scholarships in your area or your parent’s employers may offer scholarships) - they may only be for small amounts and may only be for freshman year, but every little bit helps. My son got 4 small outside scholarships which totaled about $7500, which covered a large part of his housing for 1 year.</p>
<p>Also as a business student, consider doing a co-op in later years. You would alternate semesters of work with semesters of school and can use your earnings from the semesters you work towards your expenses for the semesters when you are on campus.</p>
<p>Work study if you qualify or a part time job if you don’t can help to cover other expenses - books, food, travel.</p>
<p>If you do have to borrow money, as long as you only borrow up to the government limits for student loans the payments should be manageable (and try your best to only borrow up to the subsidized loan limits since then no interest will accrue while you are in school). Do not take on any additional private loans - that’s where many people get into financial trouble.</p>
<p>I only mentioned putting the hawaii money towards housing. I never suggested doing that with the computer money.</p>
<p>Yes, I understand that you’ve worked hard for the money, but in life, we make choices as to what we’re going to do with our money. My dad used to say, “you can’t spend a dollar twice.” </p>
<p>So, when students say that they need money for college costs, they often have to put their earnings towards those expenses…and they have to put off other fun things. It’s great that you can stay at your cousin’s home while in Hawaii, but unless you stay in the home 24/7, there will be other touristy expenses adding to that $700 plane ticket. </p>
<p>I wasn’t implying that the cost of the Hawaii trip is the same as housing. However, if you’re trying to cobble-together scholarships and things to pay for Room and Board, then everything “extra” should be on the table.</p>
<p>Do not take on any additional private loans - that’s where many people get into financial trouble.</p>
<p>I agree. However it sounds like the federal Direct Loans are her only options since her parents wont qualify for Plus Loans or to cosign private loans.</p>
<p>You may not know this but if your parents apply for a Plus loan and are denied (which sounds likely), then you get to borrow another $4k (so $9500 for frosh year). I’m not a huge fan of this because it will mean eventually graduating with about $40k in debt total</p>