<p>Very, very true. And my parent(s) (probably only my dad) would only be able to possible contribute a few thousand, if anything at all. But actually, the estimate was speaking of only the grant, and a $7500 dollar loan after leaving me with the 10k gap. 17k a year in loans isn’t exactly ideal, far from it, but it wouldn’t be bad considering I do not have a college account and very little personal college savings after the purchase of a car to get to and from my job/ECs.</p>
<p>PS thanks so much for everyone’s insight, I really appreciate that you’re answering these questions :)</p>
<p>Not sure how you’re figuring $17k a year in loans, but that’s too much. In any case, a freshman can only borrow $5500 in their name alone. Your parents could look into Parent Plus loans but it doesn’t sound like that’s a good idea with their income levels and any private loans would require a credit worthy cosigner.</p>
<p>Well my dad makes 45-50k a year, but his info would not go on the FAFSA, correct? But he could still get a Parent Plus loan, right? Or could that affect my financial aid from the institution? And there have been kids from my school alone who have taken out more loans than that to fund their college education. It’s a lot, but it’s no insurmountable. So are you saying I should not bother applying to these schools, is any decent 4-year university out of the question?</p>
<p>And, while I’m not relying on them, scholarships are a thing too. I have decent scores and ECs so maybe these some institutions could give me merit $$</p>
<p>If any need based aid offered by a school plus any merit you would be offered leaves an amount to pay that’s less than or equal to the $5500, $6500, $7500, $7500 loans you can get each year plus the ‘few thousand’ you say you and your family can contribute, then that school is probably doable. The total federal loan limit is the most that most on this board consider reasonable to borrow over 4 years.</p>
<p>The NPCs are just estimates. You won’t know how much you’ll actually get from a school until you apply, are accepted and get your award letter. </p>
<p>What is your intended major and do you have hopes of post-grad or professional school?</p>
<p>Wouldn’t Max likely be eligible for additional government loans? In my day I had an extra loan called a National Direct Student Loan - I know it meant that my family had a lot less money than most of the other kids. I believe they’re called Perkins Loans now, but I may have that name wrong. In any case, I do believe there are additional loans that kids from lower income families can get.</p>
<p>I’m going to have to go over the federal loan limit for virtually every school @annoyingdad , so the only other loan available would be the Parent Plus if I needed anything over $5500?</p>
<p>And I do not know exactly what field I want to go into yet, I am either thinking Business or Engineering.</p>
<p>^^^I don’t think so Max. I think you’re likely eligible for a Perkins Loan. In any case, please keep your loans as low as possible. How would you feel about Temple University? You’d qualify for full tuition based on your stats and you may qualify for a Pell Grant. My guess is that between the Pell Grant, the Perkins and the Stafford Loans, you could meet your room and board payment.</p>
<p>Does Connecticut have any in state aid available to you? If so, UConn may be your best bet. I had the equivalent of Stafford and Perkins loans back in the day and let me tell you, it really stinks. My parents couldn’t and didn’t contribute anything. Keep the loans down as much as possible. They’re really a bear. Although in your case, you’re probably better off taking some on just to get that degree. Consider commuting if it can keep your costs down.</p>
<p>Uconn is the in-state school that I was looking at. However, after grants and potential merit money (WHICH I KNOW ARE JUST ESTIMATES) I would still possibly need like 13,000 dollars. Is there any way I can fund that without relying on scholarships? @annoyingdad @thumper1 @halfemptypockets</p>
<p>@maxnadelman41 - does that include the Pell Grant already? If so, then I think you are left with the Perkins and Stafford loans and whatever you can earn. Things will be really tight. You will find yourself running over to drop a class after receiving a syllabus because you can’t afford the books. Seriously, check out Temple. All you’re on the hook for there is room, board, and fees. (about 12k) If you get the Pell grant, and then the loans, plus whatever you earn in the summer, you should have enough left over for books and to travel back to CT. </p>
<p>I will. Are there any other schools like that in the New England region? I’m looking but can’t seem to find a lot</p>
<p>And also, can’t colleges give out loans themselves? It seems like loans and grants can come from more than just the government. And (please correct me if I’m wrong) since I’ll be using my mother’s and stepfather’s info for the FAFSA, it’ll say my family makes like 40,000. However, don’t some schools require a CSS? And if my father’s information is on it, combined with my mom and stepdad, will I be much less likely to get enough institutional grants to fund my education without taking out more than the federal loans? and are Parent Plus loans hard to get?</p>
<p>
</p>
<p>Not that I know of. Check out the automatic scholarship locked thread at the top. Alabama is the other big name school that would give you free tuition, and it would certainly offer a more traditional campus feel, but like Temple, you’d also be on the hook there for your room and board and I think the travel cost to Alabama from Connecticut would be prohibitive.</p>
<p>I do think there are some private schools that might be happy to have you and might bring your cost lower than what UConn would charge you. I’m not too familiar with Connecticut schools or how competitive they are - I think you’d be a top 5% student at Quinnipiac, Sacred Heart, and probably some other schools. Maybe try Fairfield - I think they’re a little more competitive, but they may also be more generous with the Financial Aid.</p>
<p>The direct loan is guaranteed. The Perkins loan is NOT guaranteed. There is limited Perkins funding given to each college. The college then awards this money, and NOT everyone gets the Perkins. It is for lower income families, but because it has limited funding, you can’t count on getting a Perkins Loan.</p>
<p>I hope some other people chime in here about the possibilities of the Perkins Loan and the Pell Grants. I’m just guessing - I don’t really know. Please don’t count on them by what I’ve said. I read here all the time that students are only eligible for $5500 first year without a co-signer. I don’t think that’s true for very low income kids. My understanding is that Perkins loans are like the old National Direct student loans, but I’m really not sure. And even with that, I’m not sure if your income for Perkins Loan and Pell grant eligibility would be counted as 90k (with your Dad’s) or just the 40k of your mom and step dad. </p>
<p>I remember thinking in college that only rich kids had co-signers on their loans. We poor kids could get plenty of them all on our own. LOL</p>
<p>I am aware of this. I’m not counting on the Perkins loan at all. But I feel that there is still a chance that I will be able to attend these more expensive universities through institutional aid (through my CSS and FAFSA). Is there any logic in that? NU and BU would be my top choice, so I kind of want to try. I know my best bet is to apply to schools where I will get merit money, and I’ll try to do that. This whole thing has got me stressed, I guess I just want someone to tell me that I’ll be able to go to a good school. </p>
<p>
</p>
<p>Do you know if the government dictates how it’s disbursed? i.e. does it have to go to the lowest income students first? If so, would both parents’ incomes be included or is it based on the number on the FAFSA? If it’s based on the FAFSA and it has to be awarded to lowest incomes first, odds are pretty good that @maxnadelman41 would qualify, although it’s certainly not guaranteed. (And I liked his chances better at 35k than at the 40k last mentioned). </p>
<p>Many children of my family’s friends have gone to colleges such as Drexel, UCONN, Keene St, and other pretty good schools almost for free. One kid went to UCONN with about 4,000 left to pay. Their families make about the same as mine. How is that possible??</p>