<p>I was accepted to my dream school - UC Berkeley. Unfortunately, I live in NY so even though my parents' EFC is only around $8,000, they only gave me $14,000 in "gift aid" to a $54k per year school. I discussed it on the phone and also went to an orientation for NY students. The problem is that there's a $23,000 non-resident fee that is added on after you get the net cost. And California pretty much sucks in terms of their economy right now, which we all know. I was thinking that if my parents do decide to get the parent loans for me and allow me to go to a school that is absolutely perfect (for me), then I'd try to graduate in 3 years to save on tuition. I also will get credit for several AP and college classes (It looks like they'll take at least 6 classes worth of credit) as well as taking summer classes to save $. I also have a job at Trader Joe's and would transfer to the one in Berkeley, as well as probably take the work-study job (if I can handle it.) I also would apply to become an RA to save on room and board, and would apply for scholarships year-round. </p>
<p>Right now, I don't have any other financially feasible options.
NYU is notoriously expensive, and BU didn't help much either. Each would end up costing my parents $30,000 in loans per year. So given these options, it makes no sense to me to not just go to my dream school. We tried to get private loans in my name but my parents credit scores mean i don't have a cosigner. </p>
<p>However, I am on the waitlist for Vassar. I think that my parents' biggest concern for Berkeley is that their credit is mediocre and they think they just barely got approved for the parent PLUS loan, so we're worried about what our chances are for loans next year. I know Vassar is better with financial aid. I guess I have to keep my fingers crossed, otherwise, worst-case scenario, my parents will make me go to a state-school and then allow me to transfer. I can't emphasize how much of a nightmare it is to me to fathom staying home for college, when I'm so independent and got into my dream school. I'm majoring in linguistics by the way, and Vassar doesn't offer that..which is another problem.</p>
<p>I'm not really sure if I'm asking a question, but wondering if anyone has any comments or could give me feedback like, "What I would do..." or suggestions or anything. I'm sort of getting desperate considering I have to submit a deposit in 2 weeks.</p>
<p>“Each would end up costing my parents $30,000 in loans per year.”</p>
<p>Unless your parents are able and willing to take on this kind of loan burden, you have to find some place that is affordable.</p>
<p>This may entail enrolling in your financial safety school (I assume you have one because you mention a "state-school), applying to places that have late and rolling admissions dates ([List</a> of Late Deadline Schools- Locate Colleges with Late Application Deadlines at Petersons.com](<a href=“http://www.petersons.com/college-search/late-deadline-schools.aspx]List”>http://www.petersons.com/college-search/late-deadline-schools.aspx) ) hoping for decent financial aid from one of the places that doesn’t fill up (watch for the list coming in May at [NACAC</a> Homepage](<a href=“http://www.nacacnet.org/Pages/default.aspx]NACAC”>http://www.nacacnet.org/Pages/default.aspx) ), taking a gap year and reapplying to a list of affordable institutions that offer your major, or moving to California on your own, finding a job, supporting yourself for 12 months while you wait out the time required to acquire in-state residency, and then reapplying to Berkeley for admission in about 2013.</p>
<p>Sit down with your parents and run all of the financial aid offers that you have received so far through this calculator: [FinAid</a> | Calculators | Advanced Award Letter Comparison Tool](<a href=“Your Guide for College Financial Aid - Finaid”>Your Guide for College Financial Aid - Finaid) Right now it looks like none of the institutions on your short-list are remotely affordable for your family. But, I may be wrong.</p>
<p>danielese…Congrats on your acceptance to Berkeley and on an obviously successful HS career. I hope things work out for you and you’re able to attend, but I have to point out a couple of things from your post.</p>
<p>“Right now, I don’t have any other financially feasible options” - If this is the case, you violated one of CC’s cardinal rules of thumb…“Love thy safeties”. Being from New York you’ve got an abundance of SUNY’s and CUNY’s that would’ve accepted you willingly and probably offered you a good amount of aid.</p>
<p>“Each would end up costing my parents $30,000 in loans per year. So given these options, it makes no sense to me to not just go to my dream school.” - Really? Do you really think it makes sense for your parents to take out $120K or more in loans?</p>
<p>“We tried to get private loans in my name but my parents credit scores mean i don’t have a cosigner” and “their credit is mediocre and they think they just barely got approved for the parent PLUS loan” - I understand and appreciate that you think Berkeley is your dream school, but are you really willing to mortgage both your and your parents financial futures for it?</p>
<p>“I’m majoring in linguistics” - What do you think the average starting salary is with this degree, and what do you think the monthly payment will be on those student loans?</p>
<p>I don’t mean to be harsh, but you’ve got to get realistic. Sometimes parents get blinded by wanting to do everything they can for their kids, and while that’s admirable it also be financially tragic. Run the numbers yourself, and I don’t think you’ll see any way that it makes sense. If attending a state school is such a “nightmare” then consider taking a gap year, re-assessing your list of schools, and trying to find affordable OOS options. Good Luck.</p>
<p>For what it’s worth, my son was also accepted to Berkeley last year and we couldn’t consider it because of the cost. Even though we had an EFC of $25K and were willing to pay it, that was just too big a gap for us to pay essentially full freight of $54K. IMHO, out of staters who aren’t willing to pay the full bill should probably not bother applying there. </p>
<p>Did you apply to any other schools than those you mentioned?</p>
<p>I agree with Wolverine. You may have to take a semester off. There are several SUNYs and CUNYs with linguistic programs. Many of these schools also have Honors programs.</p>
<p>If your parents income is such that your EFC is $8,000 then please do not make them feel they should take out $30,000 a year in loans for you for any school. That is much to much in loans for someone with that income level to take out. it is also very likely that they will not be able to keep borrowing at that level and you will not be able to stay at the school. </p>
<p>You need to get realistic and find a school that is affordable for your family.</p>
<p>I agree with Swimcatsmom and Wolverine - and I suspect that you need to take a deep breath and detox from the comparisons and one-ups-manship of senior year that makes you willing to consider this kind of debt for a degree that is useful only as a stepping stone to further degrees (and debt).</p>
<p>It doesn’t sound to me as if you have to stay home/commute for college; you just need to go to a SUNY. Buffalo and Stony Brook have fine linguistics programs. If you didn’t apply to a safety, go to cc for a year and then transfer.</p>
<p>Vassar’s financial is not so generous for those waitlisted. I would not hold my breath. You are a New Yorker like I am, and the SUNYs and CUNYs offer great value… Call Buffalo and see what they can give you. You might be eligible for an automatic scholarship based on your stats.</p>
<p>danielise, i completely understand your situation-for what it’s worth. i am at usc (southern california) right now and am on this website because i have been posting on one of the transfer pages. i have been here for two years and absolutely love it but am now facing the harsh realities of my decision, forcing me to transfer back to a school in fl, where i am from. i know it’s so hard to think this way when you still have all of college in front of you, but trust me when i say that the cheaper option is the better way to go. back when i was applying/deciding, nyu and bu and all those schools gave me nothing as well, so i understand your dilemma. but consider perhaps the suny schools or something at least closer to home because travel costs will eat away at your loans like nothing else unless you plan on spending every thanksgiving and christmas with a friend in berkeley. </p>
<p>try and take some of the advice of these kind sounding parents/citizens above me because they have great suggestions :)</p>
<p>OP, you cannot afford this amount of money for four years. The degree will come from the college from which you graduate. Find a Plan B…either two years commuting then transfer to a brand name university or find an alternative that you can afford for 4 years.</p>
<p>Well…I didn’t post on this thread…but FWIW…I agree with those who say that asking your family to assume $30,000 in debt per year is very unreasonable. There are numerous other options for undergrad school that will keep your debt down to a manageable amount…if any. Please consider exploring some of the other options presented here. </p>
<p>The UCs are experiencing some of the worst financial situations they have experienced. Funding is being cut and costs are expected to increase. Graduationg in four years may not even be possible which would just add to your costs. </p>
<p>Think of other options…please. It would be one thing if your family had the resources to fund this huge expense…but they don’t.</p>
<p>Your plan to work two jobs, plus be an RA, and still manage to finish in three years, at a university that may well be looking at cutbacks in class offerings, is unrealistic at best. You are in panic mode at the moment and not looking at the situation with a cool head. That is understandable. Big disappointments take a while to digest at any age.</p>
<p>It is my prediction that a few years from now you will look back and wonder how you could have even contemplated asking your parents to take on such a loan burden. </p>
<p>Attending one of your own public universities is not the end of the world, even if it is the end of this particular high school dream. If I knew you, I would strongly suggest you come up with an alternate plan that does not saddle anyone with an outrageous loan burden.</p>
<p>In addition to adding to the chorus of voices that say that asking your parents take on $120,000 of debt, especially with an EFC of only $8,000 is insane, let me add this: it’s not a good idea to become an RA just to get free room and board. First of all, it’s not guaranteed: at schools where RA work covers room & board, there are usually more applicants than there are jobs. Secondly, RA selection processes are usually pretty good at weeding out the people who are obviously grubbing for the money. Thirdly, even if you do get the job just to pay for R&B, if that’s the only reason you are doing it you will hate it. I was an RA in college and I loved the job, but you have to be willing to do the work. Also it’s not feasible to hold an off-campus job while also doing work study and RA work - work study and RA can work fine together, but RA jobs require you to give up weekends fairly often and work at least one night a week all night long, not to mention planning programs and doing the actual work of being one.</p>
<p>I’m a New York resident myself and we have some awesome public universities here; pick one. I graduated from college 3 years ago and I turned down a more prestigious school I couldn’t afford for one where I had a full ride. I do not regret it one shred - I had a great time at my undergrad, and I’m not facing a massive monthly payment when I graduate from graduate school. If you are as independent as you say you are, it’s not going to be a “nightmare” to live at home and commute to school. You’ll branch out on your own, do what you want and make the most of your college years.</p>
<p>I’m hoping good things for Vassar, but I don’t think you should even consider taking Berkeley’s offer.</p>
<p>You need to realize that much of the college information, planning, brochures and application process that you’ve been going through is like crack for the young and ambitious. It is alluring, addictive, all consuming - and it has a down side no one wants to talk about while you’re on the magical quest for admission. But your financial reality will make this your personal nightmare if by some chance you or your family are able to go into hock for this far away school. Your debt will limit your options more than your school choice will be able to open the door of opportunity - what seems difficult now, because it is disappointing, will feel like the best decision of your life later on when you are still able to make choices and pursue your own goals rather than struggle to make a payment.</p>
<p>It is fine to pursue your dreams, your efforts toward admission are not wasted, they are a part of your path to making a wise and mature decision. But if you allow yourself to be sucked into debt you will have a hectic and troubled path ahead of you for many many years. I have friends who are still paying off their college loans now that their kids are entering college -and believe me, that wasn’t their plan!</p>
<p>I am faced with the same situation. I was accepted to Berkeley and am faced with OOS tuition fees. I have almost all the same numbers as you. I have talked about it with my parents and many adults that I know, and going into that much debt would literally imprison you for more than a decade of your life. The only real solution is to get instate tuition by becoming a resident. it is extremely difficult, but not impossible.</p>