I really need some advice

Parent Cafe
1

<p>Okay here goes. </p>

<p>I am a graduating senior. I live with my single mother who is a bus driver (my father passed away four years ago) and my dependent uncle. I have helped being caretaker for my father while I was still a preteen and now I help take of my uncle. I help pay my moms bills and deal with her problems. When I graduate, I will have taken 8 AP classes and have a accum. GPA of 3.9. I work full time at a low paying job to make money to survive. I am recieving s.s money but that will be dropped next month. My entire life the only thing I wanted was to go to NYU. I applied ED. and was accepted. I knew this is what I wanted. In order to attend, I would have to put about 30,000 more. I planned to take a heafy loan out and work this summer. I also was accepted to my state school but because of immaturity on my part, I did not give them my fafsa as I was already accepted to NYU ed. My EFC is also high because I recieved approx. 16,000 last year and will no longer recieve that. I got no grants even though my mother makes close to 24,000 a year. Right now, I don't have many options. I plan to take out a large loan to go to NYU (which I know every single one of you will dissaprove of but let me go on). I did not realize I would not get the s.s after next month so I thought I had a way to pay for Ohio State University if I could not go to NYU but I do not. Not without loans. I could attend the c.c but this too is complicated. I cannot live at home as my mother is moving into an apartment and cannot afford a bedroom for me w/o my s.s money. My job does not make enough to support myself and I cannot rely on the hope that I can just go out and find a higher paying job. My sanity is also at stake. I have dealt with problems that an 18 year old should never have to experience. Losing my father was the beginning of the blows. I've gone from living with an abusive brother to last week coming home from school only to find that I had to save my uncle as he was unconscious from his illness. Living here, I pay my moms bills and deal with her struggles. I need to get away and experience college like a normal teenager. I know loans are never advised but I feel that for me personally, this is my only option that would guarentee mental stability (I understand financial stability is at risk) for the next few years of my life. </p>

<p>While I am mostly made up about my taking out loans, I could still use advice for any other options out there. </p>

<p>Thank you for reading-
Ashley</p>

2

<p>Ashley:</p>

<p>When you say you would need to put out $30k more to attend NYU, I hope it's over four years and not per year? It is still a large chunk of debt. Have you tried talking to a financial aid officer? Mention especially that the ss income will dry off as of next month.</p>

<p>If things don't work out financially, I would take a gap year. Since you were accepted ED at NYU, you must be a very attractive candidate to lots of schools which give better financial aid than does NYU. Look for one that has most of the things about NYU that you like but gives better financial aid or merit money and apply in the fall. I hope, however, that things work out for this year. Good luck!</p>

3

<p>Unfortunately, that would be per year. Now, I hope that amount goes way down next year as my EFC will change (I know NYU won't give more money but I should be eligible for the Pell Grant which is only 4,000 but every penny helps) and I will apply for MANY MANY more scholarships. I also planned to transfer out of NYU my first year if I ever felt it was not worth every single penny of loans. </p>

<p>I understand a gap year is advised by many but in my situation, I just cannot handle it. I know how much money this is in loans. I grasp how much I will end up paying with interest and how long I will be paying. I know I will not find a single person on this board that is going to agree with my one choice of taking out loans but unless I find another way that I can attend a college this fall, I think it is what I will end up doing. I am not looking for someone to agree with me. While I may should immature and stubborn, it really isn't the case. Unless I can get away from here during my gap year, I just cannot mentally handle it.</p>

4

<p>Ashley: </p>

<p>No college is worth getting into debt for $120k. Pell grants will only make a very small dent into the amount of debt you will be accumulating. </p>

<p>I understand that you want to get away from your current situation. There may be ways to have a paid gap year that allows you to do exactly that. I just hate to see you get into debt to the tune of $30k from the get-go and stake your future on getting scholarships. It's actually easier to get financial aid when you are applying to colleges than after you have done so. </p>

<p>I hope other posters chime in with advice of their own.</p>

5

<p>If I could find a paid gap year program that I could manage, I would definatly be interested.</p>

6

<p>Ashley-- you sound like you've dealt with a lot and have a lot of maturity as a result.</p>

<p>Don't go it alone here.... I don't think your plan is a realistic one. Who is going to lend you $120K without a co-signer? </p>

<p>I would suggest asking your guidance counselor if there's a social worker close by with experience in higher ed. I think someone needs to advocate for you w/NYU fin aid to explain that your SS is going away and what the family situation is. There may also be community resources that you're not aware of that could help bridge the gap, or at least give you access to other services.</p>

<p>Keep us posted and good luck....</p>

7

<p>I have another alternative for you - though I don't think you will like it. </p>

<p>I've looked over your past posts to get an idea of what has happened. I gather that you applied to NYU ED - that you were accepted to the GSP program; NYU gave you an early estimate of financial aid but later substantially reduced the amount that they had initially offered. In the meantime you were accepted to Ohio State U. but turned them down, thinking you were bound by the ED contract.</p>

<p>The first thing I want to point out is that I do not think you are or should be bound by the ED contract. In the first place, I don't think it applies if you are only offered a GSP spot. Even if it did, I think NYU's reduction in financial aid would be reason enough for you to get out of the contract.</p>

<p>Here is what I suggest. Every year, there is a report published on line of colleges that have still have space for students, here:
<a href="http://www.nacacnet.org/MemberPortal/ForStudents/2006SpaceAvailabilityResults.htm%5B/url%5D"&gt;http://www.nacacnet.org/MemberPortal/ForStudents/2006SpaceAvailabilityResults.htm&lt;/a&gt;&lt;/p>

<p>You can search there on your own for colleges all over the country. I don't know what you want in a college, but I figured you probably want to live in New York. </p>

<p>I found a college in Manhattan that has space:
Marymount Manhattan
<a href="http://www.mmm.edu/learn/quick.html%5B/url%5D"&gt;http://www.mmm.edu/learn/quick.html&lt;/a&gt;&lt;/p>

<p>This is a liberal arts college located on the upper west side. It is much less expensive than NYU, and they claim to meet full need of 95% of their students who qualify for aid. They also offer merit aid. In any case, I'll bet that even if they didn't offer you grant aid, it would probably still cost less than NYU - their tuition $18,748/year, housing $10,090 /year. </p>

<p>I believe that you mentioned somewhere that you were interested in studying photography - Marymount offers a minor:
<a href="http://www.mmm.edu/cgi-bin/MySQLdb?MYSQL_VIEW=/study/programs/view.txt&currentdept=1067%5B/url%5D"&gt;http://www.mmm.edu/cgi-bin/MySQLdb?MYSQL_VIEW=/study/programs/view.txt&currentdept=1067&lt;/a> </p>

<p>You also said that you were pre-law -- the school does offer a majors appropriate for prelaw. According to statistical data reported on the US News college site, 16% of Marymount grads who pursue graduate study go to law school. </p>

<p>I'll be honest -- Marymount is a lower-tier college and you aren't going to impress anyone by going there. But it's also a place where you will have small classes and closer interaction with the faculty than NYU -- and of course you know that the GSP program at NYU doesn't have the same level of prestige as CAS. Given the financial situation, it may be hard for you to complete 4 years at NYU in any case -- you may find that you simply can't afford to continue after 2 years at GSP. That would be the absolute worst thing: a lot of debt and no degree. </p>

<p>The NACAC list also says that Fordham has limited space availability, so you might also check there. Fordham obviously is an excellent college. My daughter applied to Fordham and they gave her an aid package that was far more generous than NYU's. But I don't know what "limited" means -- that could mean they only have space for students in certain majors. </p>

<p>Keep in mind that if you start at a college that is not challenging enough for you, you can transfer, applying to colleges which are known to give better financial aid. </p>

<p>Again - I understand that your heart has been set on NYU for a long time. But it is also obvious to me that you have had a rough life and you need to attend a college where you can realistically manage on your own -- and NYU has shown that they are essentially heartless. So you might find it valuable to at least call around to some other colleges and explain your situation -- you may find out that in the end you are better off in a more supportive environment. So at least do yourself the favor of exploring those options.</p>

8

<p>You might want to consider Americorps for a gap year. Depending on the position, you will have a living allowance, possibly housing, and be eligible for an educational award to apply toward college when your commitment is done.</p>

9

<p>Thank you so much for your help. I will definatly look into these options. I even planned on applying to Fordham if NYU didn't work out back in October.</p>

10

<p>I like the Americorps option. </p>

<p>In PA, I see that Drexel (Philadelphia), Moravian (Bethlehem), and University of Pittsburgh all have limited openings. While none of these are in NYC, they are located in cities. </p>

<p>This late in the game, however, financial aid may not be available. Is there any way you work full-time this year but keep your mind academically challenged by attending community college? Also, some companies (I think Wal-Mart and Wegman's) give college scholarships to their younger employees. It won't be a lot, I'm sure, but you might be able to get money beyond what you earn if you get a job in the right place.</p>

11

<p><a href="http://www.umbc.edu/%5B/url%5D"&gt;http://www.umbc.edu/&lt;/a&gt;&lt;/p>

<p>University of Maryland Baltimore Campus has openings and I believe they also offer a degree in visual arts.</p>

12

<p>Thats what I'm worried about, fin. aid this late. I think all scholarship money will already be accounted for and I will end up paying the same amount. I already emailed the Fordham and Drexel person they had listed so I am very much looking into these options.</p>

13

<p>I also think that if I take the year off and work full time, I will get FAR less money next year as my own EFC will be much, much higher.</p>

14

<p>Please consider your options. NYU is out of reach for even many families with solid upper middle class incomes. NYU has a well-earned reputation for being weak with financial aid. My D was accepted with substantial merit aid and it still did not appear that NYU was worth the costs. You need to find better, cheaper options. That may mean community colleges or lower tier schools because your options for next Fall are somewhat limited. If you cannot tolerate the prospect of a gap year, you can still find a more reasonable option and then work on a better option for a transfer.</p>

15

<p>An option for a year off to reapply would be to find a live in job as a caretaker for someone elderly or disabled or as a nanny. There is demand in all different parts of the country, New York City being a huge mecca for nannies. There are many agencies that could help you find a job.</p>

16

<p>Ashley:</p>

<p>If you work even for a whole year, you wiould not be able to make the $30k that NYU is expecting to come out of your pocket now. Your EFC will be lowered somewhat (maybe, I'm not even sure whether it is true everywhere), but at other schools, you will receive enough financial aid that you will not be short of $30k per year! And, as someone else posted, no bank is going to lend that much money to an 18-year old without a co-signer.
Personally, I'd take a gap year, sign up for evening classes at a community college, work part-time, re-apply to less stingy schools that give good financial aid or merit money. If you work part-time, you should be able to rent your own place. It can't be more expensive than room and board at NYU.</p>

17

<p>Ashley
Find a Gap year experience that includes housing so you can change your living situation.Americorps sounded like a good choice,as did being a Nanny (live-in).Spend the first part of the year researching colleges that will give you merit aid or need aid based on your circumstances and stellar academic record.Look for a school where YOU ARE WANTED.If it must be NYU or nothing at all, use the gap time to work with their financial aid people to structure an aid package for you that is livable and viable.
Best of luck..you deserve better than the way NYU is treating you at the moment and there are plenty of places out there that would love to have you.Break the ties to NY and the whole world awaits!</p>

18

<p>I'm not a parent, but one of my friends is in a <em>very</em> similiar situation as you (she never worked, though) and she's planning on taking out the loans to go to NYU in the fall. It's her dream, and she thought it was worth that. I wish she was older so I could tell you how it worked out, but . . . </p>

<p>Best of luck in your choice; congratulations on being accepted to such a great school given a harsh background. Few people can manage that and it says a lot for your determination and persistence.</p>

19

<p>My big worry about Ashley working full time if she should take a gap year is that the money she earns will definitely raise her EFC(as any money earned over about 2700 is going to be assessed at 50%) then she may have to borrow just to meet the EFC. To me she would be placing herself in a vicious circle. </p>

<p>If Fordham still has FA available, it could be a very affordable option for Ashley.</p>

<p>I think that Cathymee & momwaitingfornew suggestion about americorps is a great idea as some americorp opportunities will also give you $$ for college.</p>

<p>Since you are a really good student, next year you can cast a wide net to schools that have offer great need blind financial aid. Don't rule of the women's collleges(barnard, smith, wellesley, mount holyoke, bryn mawr) where your grades and scores are the range and could be very affordable options for you. </p>

<p>No matter what happens's next year her mother's EFC will be zero and she will definitely be in a position for better need based aid.</p>

<p>Having a dream is one thing, but it is never too late to dream new dream and there are better more affordable options out there.</p>

20

<p>Sybbie:</p>

<p>Yes, the money earned will raise the EFC. BUT I am assuming that Ashley will get a lot better financial aid or even merit aid if she re-applies next year to a school that is not as stingy as NYU.<br>
And if an 18-year old works full-time, how much can she earn? It will most likely go to room and board. The same as paying NYU room and board--but minus the $30k per year of debt. </p>

<p>Harvard Extension School: courses cost between $600 and $1500 (I haven't checked, but it seems in the ballpark, and the more expensive courses are lab courses). Four courses per semester (unlikely) would come to $2400-6000. Semester tuition, room and board at Harvard or NYU: $20k+</p>

<p>If a student has to borrow $30k, that student is better off borrowing to attend a community college for one year then seeking to transfer, or taking a gap year, and working while maybe taking a couple of courses per semester--or working for americorps. Anything but borrowing $30k per year.</p>