Even if you got a $20k grant your gap would still be $40,000 per year. You said your parents can’t pay, and you can’t borrow it. So where’s the extra $40,000/year coming from?
Just got my financial aid package back. Depressed and disappointed. Need help understanding if true.
And yes, it’s true. At the bottom of the second screenshot, they estimated your parents ability to pay at 5648 per year. They know you don’t have much money. They just decided not to fund you.
When you call the school, I suggest you ask if they received your CSS Profile information. I read the info about aid available to non-residents and you are not excluded, based on what you have shared.
It is a good idea to seriously consider UAH and other options while you work on UW. Don’t let the deadlines pass you by. Seek the affordable option. Without some aid, UW is ridiculously expensive for your family and your parents would be fools to take on the private debt that would be needed.
@austinmshauri My parent’s CAN’T pay, regardless if I go in or out of state. However, I can take out loans. It’s not the most desirable thing, but for 40k a year I’ll consider it at least. But for 62k I just don’t know 
Have you actually found a financial institution willing to loan an 18-ish year old with little to no income and assets 40K per year?
When we say you can’t borrow that much, we mean you can’t borrow that much. The exception is if you have a cosigner with good credit who will be equally responsible with you for paying it back. Your parents would be nuts to sign for that much, and you should not ask them to do so.
…this sucks 
No one will loan an 18 year old student $40k.
You can get loans from the federal govt for a max of $27k over a 4 year period. That’s it.
Fresh 5500
Soph 6500
Junior 7500
Sr 7500
No, you can’t take out major loans.
You can only borrow $5500/year. Where’s the other $35k/year going to come from?
It doesn’t stink, actually. What would stink is if 18-year-olds were allowed to cripple themselves with debt.
Can your parents pay anything? If not, you may not be able to attend residential college at all. Are there any schools within commuting distance of your house?
@monkey288195 - I was born and raised in Michigan. I moved away and live out of state. My entire family still lives in Michigan. I knew my daughter would be full pay OOS if she applied to UM. That’s just how it is. I fully expected that to be the result.
This mistake is made all the time. I was stunned how many of my daughters friends did the same thing. I told my daughter she could apply to as many IS schools as she wanted. I explained to her that should she apply OOS, she needed to focus on the privates. Even some OOS public’s if they offered reciprocal tuition or had scholarships based on test scores. The privates are often better OOS options based on how privates want to attract top students and have the money to offer good financial packages.
Even then, I told her we could evaluate the possible offers and compare them to the cost of in state schools. If you were accepted OOS at UM, you must have top stats. It’s unfortunate that you didn’t (or did you?) apply to privates with this in mind. That being said, UF is a very well regarded school.
“If you were accepted OOS at UM, you must have top stats. It’s unfortunate that you didn’t (or did you?) apply to privates with this in mind.”
Yes, I did apply to privates. It’s just sad that I lost UM after everything.
@“aunt bea” his dad owns his own business which will mean that the NPC calculator won’t be accurate for his family. Also, just a word of caution for those that say your GC should have told you this or that. Not all high schools have GC counselors that are involved in college planning that way. My kids attend/ed a very large public high school and our GC’s have given zero advice on how to apply, where to apply etc.
If the OP had done their homework on U of Michigan they would know that they have a history of not providing financial aid for OOS students. Especially for the college of engineering(although the engineering website says for merit consideration your best chance is if your app is turned in by Nov 1st @Monkey288195 did you meet this date), there are other colleges on campus that do offer merit for OOS students such as SMTD, the funds for those awards come from private donors and alumni.
“turned in by Nov 1st @Monkey288195 did you meet this date”
I believe I did. I also applied for the LEAD Scholarship which will help, but I don’t think it will be enough if I get it.
How much can your parents pay without borrowing?
@austinmshauri I’m not sure. They can probably pay a small bit but I’m not willing to take it from them. I’ve spoken with them and I morally don’t feel right putting them in more debt. They have done a lot for me and everything they can to give me a better life.
So basically they can give a little, which even then it won’t help, and I’ve promised them that they shouldn’t have to worry because it’s all on me.
In another thread you reported a 26 ACT and a 1250 SAT. That would make merit aid at Michigan impossible. Did you retake those tests?
@TomSrOfBoston Oh yeah those are my old scores. My scores and stats are very different.
Are you an NHRP finalist? That would provide you with major merit aid at many schools, but not Michigan.
Unfortunately no. I would be if I focused more on the SAT/PSAT instead of the ACT
If your parents can’t pay, your budget is the ~$5500/year student loan + whatever you can earn over the summer (~$3k). Are there schools you can commute to in FL for that amount? Did you qualify for merit at any of your state schools?
Yes, I got merit aid for my in state schools. Money for in state is not a problem. It’s just out of state that hits hard.