How do I pay for college?

My parents make 200k+ annually but claims that he can’t help pay for my college much. This really messes me up, because colleges will charge more if your parents are making six figures. Without my parents help, and their paychecks weighing me down, how am I supposed to pay for college? I live in California so I could do the UC system, but I really would like to go to a University like George Washington University or USC. Should I argue that they need to help me? I’ve shown them statistics which show that most parents help pay for their kids college, but they won’t budge.

You need to sit down with your parents, find out exactly how much they are willing to pay each year, and then build your list around that. Both GW and USC are expensive schools.

Are you competitive for merit scholarships at these schools? Do your parents understand you won’t get much financial aid? Are they willing to pay for a public school?

They won’t pay entirely for any school. They understand I won’t get much financial aid, but it doesn’t change their opinion on the topic. My parents want me to take out a massive student loan, even though the average student loan is only around 7-8k per year.

As a student, you can only take out $27,000 for the 4 years. The rest of the loans have to be co-signed by your parents whom are responsible for those loans. (Parent Plus Loans).

Tell to look over this website along with spending some time on CC so they are better informed.

https://studentaid.ed.gov/sa/types/loans

OP, you’ve hinted that they will pay something. You need to know exactly how much. Then, you can start to figure out how much merit money you’d need to make it work plus loans you can take in your own name, etc.

You need to apply to schools that will give you merit aid. With your stats you will not get any at USC or GW.

My mom was the same way. She wouldn’t pay a cent.

I would do what the other posters suggested and find the school with the best merit aid/lowest total cost. Hopefully your GPA and test scores are academically competitive, which will afford you more options.

Are you a junior or a senior?

I’m a junior. The schools I want to go to aren’t schools where I’m in the upper percentiles, because I want to go to the most prestigious school I can get into

^^^Then you won’t get any merit aid. And you won’t get any need-based aid either. You can’t go to these schools unless a) your parents pay, or b) your parents take out loans.

@thecardinal12

Your original post hints that your parents are willing to pay something, probably sufficient for UC or other public univ., but not for a private one.

As a parent who lives in CA, I can tell you this: unless your parents have been saving money for your college very early on, making $200K/year (before tax) doesn’t mean they can pay $60K/year (after tax) for your college education, especially if you are NOT the only child.

Also, as a parent, I can tell you this: the responsibility of parents is to try their best to provide you with an education, not to provide you with an education at a (costly) private school.

I don’t know if your parents compare you to other kids. But that’s a no-no. Likewise, comparing your parents to other parents is an absolute no-no.

Now, if you can prove to your parents that there’s something wrong with UC or CSU, they may be convinced to pay for your education at a private school. But I think it’s very difficult to prove there’s anything wrong with UC or CSU.

Did I tell you that I didn’t like entitlement attitude?

@thecardinal12:

If you cannot get merit aid at these “prestigious” colleges so you can afford to attend, then you have to lower your expectations and look for some very good colleges that would be affordable.

Where you go for Undergrad will not define you, what defines you is how you take advantage of the opportunities you are given. My favorite quote: “Bloom where planted”. With 4,000 colleges in the US, you can find a school the “fits”.

Can you start (like today) an in depth regimen of studying/taking practice tests weekly to get your tests scores as high as possible? You have time to improve so that you can take the June ACT/SAT and the Sept. tests as well. I’d make test prep my focus of the summer (in addition to any service work you may be involved in).

What is your GPA and class rank?

You do realize, that the UCs are among the most prestigious schools in the world, right?

You have to play the cards you are dealt. Go to a UC or a CSU. They are plenty prestigious. It’s not just that you should incur a lot of debt, it’s that you can’t. You are limited to the Stafford loans ($5500 for freshman year) and what you can earn. Or a school that will give you merit.

Honestly, you are going to have trouble paying for a UC.

What is “much”? Is it nothing, is it something? You need to know the exact amount and then can plan from there. You can also get a job now and start saving.

If you provide your information (test scores, gpa etc) folks here will help you create a reasonable list but “the most prestigious school you can get into” is not an option. As everyone has mentioned, you cannot take out loans for it beyond the federal maximum, only your parents can and even if they were willing to do so (and it sounds as if they are not), it’s a terrible idea.

I agree, just because your parents make over $200K a year does NOT mean they can afford to pay a 60K plus price tag, even if they wanted to. And given that you are in CA, there is absolutely no reason they should. Depending on your stats you should have plenty of prestigious options to choose from, IF your parents will contribute something.

If however they will truly contribute zero, you need to recalibrate immediately and let folks here help steer you in the right direction of what options you may in fact have.

You have some choices to make here. This comment makes NO sense. If you are not in the upper %ile for these “prestige schools” your chances of acceptance are even smaller than the 10% acceptance rate these schools publish.

And many give NO merit aid at all.

And most cost in the $65,000 a year plus range.

So…you need to find out what your parents really will pay for you to go to college. Then you need to cast a broad net of applications to colleges where you will actually be able to afford attend if accepted.

Every college has a Net Price Calculator. Start there… but plug in ACCURATE financial information. See what the net costs would be for you with a $200,000 a year income. Don’t be surprised if your net costs exceed $50,000 a year.

There are plenty of good colleges that do NOT cost $60,000 plus a year. You need to find them.

Let’s put it this way…an acceptance to a prestige school with no way to pay for it…is like a rejection to that school. You won’t be able to attend.

3.5 weighted, 29 on ACT, <<<

    What kind of prestigious school is that going to get you into? What is the UW GPA? Is that GPA going to be a problem for most UCs? 

Yes, a GPA of 3.5 weighted if UC Weighted will be a problem.

Freshman admit rates for UC GPA of 3.40-3.79:

UCB: 2%
UCLA: 3%
UCSD: 6%
UCD: 11%
UCSB: 13%
UCI: 16%
UCSC: 47%
UCR: 64%
UCM: 80%

Parents are first in line to pay for college. Why should someone else pay if they have a high income? You are lucky you live in a state with a very strong public university system.