<p>So I just got my financial aid notice from GW yesterday, since I had sent in the CSS Profile way late. I basically got no need-based money; no grants whatsoever. In addition to my $20k engineering scholarship, I got $2100 from some other university award, $2100 work study, and $3500 sub stafford loan. Tuition + room and board = about 50k (I'm not counting books and stuff). </p>
<p>Basically, it would cost me about $26,000 to go to GW freshman year. My parents have $10k to pay per year (40k over 4 years, but they're saving as I go along, so it's not like I can just take the whole 40k and use it for one year). So basically, it would be about $16,000 to borrow, and that sum includes the $3500 stafford loan. I know if I reapply for financial aid next year, I should definitely be getting more, since the reason I got screwed over for 08-09 is because I totally didn't send in the CSS. </p>
<p>Is it worth it to already be in debt $16,000 my freshman year?</p>
<p>What are your other choices? I am choosing GW of UDel honors which is way less expensive. My reasons are.... GW is a better school, DC is GREAT and I like the dorms, and I feel it would be a great broadening experience.</p>
<p>If your other choices don't put you into debt, I would choose somewhere else. You can get a good education at a lot of places if you put your mind to it. It takes a long, long time to pay off $16,000. You could always try to transfer and get more money next years. Just my two - sensible - cents.</p>
<p>My other options are UMBC (where I'll graduate debt-free cause of scholarships), UMCP (where I would be about $6000 in debt every year), and BU (which would cost a little bit more than GW).
I would basically be going to College Park, where all my other friends are going. There is really nothing I like about that school; I just applied there because it's in-state and the best school in the MD system. I hate how big it is, the gross dorms, the bad town it's in, the social life (GREEK GREEK GREEK), the fact that my group of friends want us to cling to each other for dear life through all 4 years (am I the only one who thinks that's weird?), and I didn't get into any programs like Scholars of Honors. On the other hand, GW has been my first choice since maybe sophoore year of high school... </p>
<p>Is there any chance of me receiving more money after May 1, like from the people who decided not to attend GW so their aid packages are unused?</p>
<p>My daughter got a package (merit & need) similar to yours. She is a freshman this year. She is going to be a "House Proctor" next year and for that she gets a free room plus $4,750 stipend, which will help to reduce her debt by > $13,000 for this year. Those type of opportunities are available as a sophomore, junior and freshman - so you could conceivably keep your debt down to ~$25,000 total for four years if you are willing to take on these positions and able to get them. The positions are quite competitive - so keep up your grades (that is a factor in the application process).</p>
<p>happyflowers, is the reason you received no need-based aid because you applied late? If that is the case, maybe you could call GW and ask about your chances for need-based assistance sophomore year. If you can access aid your second year, it may be worth it.</p>
<p>Engineering is a tough curriculum at any school, so you may as well be happy where you go instead of unhappy.</p>
<p>Also, you could call GW and explain the situation. Even if you missed the deadline, as they get a better sense of how their yield is going, there may be money freed up.</p>
<p>If you got a $20K scholarship, they obviously want you. So I definitely think you should reach out to them. What do you have to lose?</p>
<p>University of Maryland is a big enough school that you could totally find a whole new scene there. But I do understand your reluctance to go someplace that feels too familiar. </p>
<p>Why don't you what Hayden and others suggested: Call GW and tell them how much you want to go there and how money is the only thing holding you back. </p>
<p>But you should think very seriously about taking on $16,000 debt in one year. You can get as fine an education at UMCP if you want it. As far as the social life, it's an enormous school - you'll find what you're looking for.</p>