<p>*A lot of the rest addressed in your post… I can’t say I can respond very confidently to. I was under the impression that government loans (Stafford and Plus are two I’m semi-familiar with, but I understand there is a LOT that goes into the specifics of such loans - much of which I’m not an expert on) would be able to cover much of it, something I would be able to take on through my parents as well as myself.</p>
<p>And I was counting on some aid to come through as well. Even if schools weren’t able to meet 100% of demonstrated need, I expected that some would be provided for, even if that came in the form of loans. *</p>
<p>See, the problem is when you don’t know specifics, it’s hard to make informed decisions.</p>
<p>On one hand, you’re now saying that your family’s income is low enough for reduced lunch. That suggests a lowish income.</p>
<p>On the other hand, you’re talking about big loans - which would require your parents’ co-signing or taking out Plus loans. How will lowish income people qualify for these loans? </p>
<p>I was under the impression that government loans (Stafford and Plus are two I’m semi-familiar with, but I understand there is a LOT that goes into the specifics of such loans - much of which I’m not an expert on) would be able to cover much of it, something I would be able to take on through my parents as well as myself.</p>
<p>Stafford loans are limited to the amounts that I mentioned above. As for Plus loans…you need to talk to your parents about those. Many, many parents won’t do those (because THEY are responsible for paying them back) and many parents can’t qualify for them year after year (some parents qualify the first year, but then don’t qualify for years 2, 3, and 4. These loans accrue interest while you’re in school. </p>
<p>There aren’t just a few schools that are good in Physics. Certainly there must be at least one NC school that has a good program…isn’t there? </p>
<p>*The cautionary tale you seem to be conveying is indeed frightening. Does “my list” as it stands leave me open to such a trap of financial difficulty? If so, what other (schools) should I look into that would be more manageable? *</p>
<p>I’ve been on this forum for a long time (my start date does not reflect when I really joined). EVERY year we hear some students refusing to consider finances when compiling their lists. Then, spring arrives, and then we hear the tales of woe from students who now have been accepted to their schools, but have no way to pay for them. </p>
<p>Lowish income students need a strategy. You need to apply to reach schools that YOU KNOW would meet “determined need” without big loans. And, you need to apply to your state schools as financial matches (since your state gives good aid). And, you need to apply to some schools that will give you BIG MERIT for stats for your financial safeties. </p>
<p>So, take NYU, Penn St, Rutgers, and (maybe) BC…since those schools aren’t going to help you pay for your education.</p>