<p>I was recently accepted to Seton Hall and they just sent me my financial aid award a few days ago. This is what it says:</p>
<p>Cost of attendance; 49744
SHU Need-Based Grant 436
Est. NJ TAG grant: 10468
Fed. Pell Grant: 5500
Fed. Stafford Sun Loan: 3500
Fed. Stafford Unsub Loan: 2000
Est. Private Loan/ TuitionPay: 27840</p>
<p>Now, tuition and room and board for the year at Seton hall is around $43K, so why does my letter saying close to 50k? That factors in transportation, food, supplies, etc. I didn't think I needed loans for that. I know I have to obviously pay for that stuff just not through a loan. Do I need to take out almost a 7k loan is my main question? Do you think this a decent package? I'm eligible for EOP at Seton Hall but my GPA fell short of the requirement so I got accepted into a alternative program, can I apply and get EOP my 2nd year when I get my grades up? </p>
<p>Your problem isn’t the Stafford loans…it’s the huge loan that is there.</p>
<p>Cost of attendance; 49744
SHU Need-Based Grant 436
Est. NJ TAG grant: 10468
Fed. Pell Grant: 5500
Fed. Stafford Sun Loan: 3500
Fed. Stafford Unsub Loan: 2000 Est. Private Loan/ TuitionPay: 27840 <- this is your bigger problem. It looks like they want you or your family to borrow nearly $30k…plus the Stafford loans.</p>
<p>Unless I’m reading this wrong, this is a horrible FA package for a low income student. SHU is only giving you 436…the other 16k is from taxpayers.</p>
<p>Yeah, I know. One of the admissions counselors told me that I can apply for EOP my 2nd year? I am eligible so would that be possible? That makes the loan not so bad since I wouldn’t be paying that for all 4 years.</p>
<p>No. What if you don’t get accepted? You’re talking about borrowing $33,000 per year, or a total of $132,000 for a degree. You can’t even borrow that much without your parents signing the loan. Even one year of that kind of loan is going to leave you owing $50,000.</p>
<p>Sadly, the admission counselor’s job is to sell you on paying the university a bunch of money, not give you reasonable advice about college costs.</p>
<p>Unfortunately, you can’t afford Seton Hall. Lots of people can’t afford exorbitantly expensive private colleges. I sure couldn’t. You’ll find a great school that fits your budget.</p>
<p>* One of the admissions counselors told me that I can apply for EOP my 2nd year? *</p>
<p>Hopefully, someone here who knows a lot about EOP can respond to this. I don’t know if EOP would cover that $28k per year in future years. (How much is EOP and where does that money come from?? AND…how hard it is to get/qualify for EOP…especially as a second year student.) It would seem to me if EOP covered $30k per year, there would be a whole bunch of low income kids getting that (those low-income kids with big loans at NYU come to mind). And…I’m just not seeing that. But, others who know more can respond.</p>
<p>But, even so…are your parents going to take out that $27k loan? you can’t borrow that much by yourself. No one will let a kid borrow that much without a co-signer. You’re already on the hook for $5500. Could your parents even qualify to borrow or co-sign that big of a loan?</p>
<p>And…even if you got a parent to co-sign for freshman year AND you got some kind of funding to cover that $27k per year in future years, that means that over 4 years you would borrow the following amounts…</p>
<p>frosh 5500 + 27k = 33,500
soph 6500
jr 7500</p>
<h2>sr 7500</h2>
<p>That’s about $55k total…that’s waaaaayyyy too much for undergrad.</p>
<p>Hmmm… I’m not sure you can apply for EOP the 2nd year. Usually, in order to get into a 2nd year of EOP at one school, you have to have done your first year as an EOP student. However, the usual grant amount that I’ve always seen published is around a max of $2K. I’m not sure that’s going to help you.</p>
<p>This is a horrible package. If the admissions counselor was the person who told you that it would cover full tuition I would make a complaint about him to the dean of admissions.</p>
<p>You can only get into EOP at Seton Hall as either an incoming freshman (you apply during admissions) or a transfer student from community college where you were an EOF student.</p>
<p>Thanks everyone for the answers. When I had an interview at Seton Hall the EOF covers the full tution, it was many times. A few year back my brother it accepted in EOF and could of got free tution if he took it, he justhad to pay to dorm. I was wondering, I got accepted into EOF by a small school called New Jersey City University. I could go there for free. Should I go there for say 2 years and then transfer to say Seton Hall? Would they accept my credits?</p>
<p>Yes, follow the money. If you got accepted to NJCU through EOF, go there and then transfer to Seton Hall through their EOP program. Speak to the advisor at NJCU, they should have a course equivalency for Seton Hall so that you will be able to see what courses you take at NJCU and their SH equivalent.</p>
<p>I find it difficult to beleive if you did not get the EOF or EOP money as a Freshman from Seton Hall, you would get it the following year. No harm in applying, but I wouldnt count on it.</p>
<p>A few year back my brother it accepted in EOF and could of got free tution if he took it, he justhad to pay to dorm.</p>
<p>??? What school was this for? It must not have been for a pricey private. The EOF grants “max out” at $2500 per year. Since your brother only had to pay for dorm and your family qualifies for Pell, that suggests that your brother only had to pay for dorm because Pell, EOP, and state/fed grants paid the rest. </p>
<p>If NJCU is a community college, stay the 2 years complete your degree and then transfer. You will have a better chance of all your credits cleanly transferring. In addition, you may find that in the next year or year and a half, Seton Hall may no longer be on your radar and you may want to transfer somewhere else. Those options will be open to you also</p>