"Miscellaneous expenses" WHAAAT

[ccole93]

<p>Hi everyone. I'm attending Mercy College in Dobbs Ferry this fall. I have a piece of junk car and was strongly considering begging them to increase my CoA but decided it's not worth it. I called to ask about refunds, like whether or not I get anything back. I have a job (have for three years now) but they cannot transfer me. I'd really like to simply focus on school anyway, considering I've been working like a mule.</p>

<p>She said something about "miscellaneous" and "other" expenses totaling up to $2000 a semester. When I pressed her for more info, she was really vague. Are those things that will be refunded to me? I had a short stint in community college and was refunded ~$600.</p>

<p>I burst out laughing when they said they expect my family to contribute $15,000. I wish my CoA and EC weren't so damn close.</p>

[mom2collegekids]

<p>I don’t see how you’re going to be able to afford this school since they expect your family to pay $15k and they won’t pay that much.</p>

<p>Misc expenses can be “personal daily expenses,” transportation, etc.</p>

<p>Also, since you do have a big family contribution, you won’t get any kind of refund. Instead, you’re going to owe.</p>

<p>Did you check to see if this school was affordable before deciding that you’d be attending this school?</p>

<p>What is the COA for this school? (increasing the COA at this school wouldn’t do any good since they don’t meet need and you have a high EFC).</p>

<p>This school doesn’t promise to meet need.</p>

<p>What exactly is in your aid pkg?</p>

<p>Where else did you apply, since this school isn’t likely affordable?</p>

[ccole93]

<p>The COA is ~$33,000. I received $6500 in Direct Loans. No scholarships. I still need to pick up the slack on $27,000.</p>

<p>I am locked into this school. They offer a dual vet tech/pre-vet degree with guaranteed admission to Ross in the Caribbean. I have been accepted into their honors program. I fully understand that it’s extremely expensive but I have made my decision. I’m already facing $300,000 in vet school. </p>

<p>SUNY Cobleskill offers a similar degree but I don’t like the school. Mercy is VERY small and all their classes are in one building that’s a five minute walk from the dorms. I absolutely love it. They offer tons of internships and experience with vets, which is crucial to being accepted. If I go to SUNY Cobleskill I’ll save a ton of money but I will not graduate with the same opportunities or the same degree.</p>

[brendank21]

<p>How do you plan to pay $27,000 per year? </p>

<p>Are your parents willing to take out parents Plus Loans which they should not because you would have way to much debt.</p>

[MommaJ]

<p>

I still need to pick up the slack on $27,000. I am locked into this school.

So…which bank are you planning to rob? But seriously, how are you going to come up with the funds? How will you pay for Ross?</p>

[ccole93]

<p>Private loans. Discover loans, specifically. They cover everything left over and send the money directly to Mercy. My parents don’t mind signing Plus loans but they’d prefer not to.</p>

[njmissy13]

<p>I would think you would need a co-signer for those private loans. Are your parents co-signing? Do they realize they are responsible if you don’t pay the loans? Do they know it will affect their credit rating now?</p>

[ccole93]

<p>My grandfather is cosigning. I have religiously paid for my past four semesters of college out of pocket. They already took out loans for my sister so yes, they understand the consequences. My grandfather is ecstatic that someone in the family is going on to grad school so he’s more than happy to help me.</p>

[mom2collegekids]

<p>cosigning. I have religiously paid for my past four semesters of college out of pocket</p>

<p>??? Sounds like you paid with Financial Aid and you got a refund. </p>

<p>This kind of debt is insane.</p>

[SlitheyTove]

<p>OP, I urge you to reconsider your plan. Please read the following NY Times article on how high debt and falling demand are creating a disaster for many new vets:</p>

<p><a href=“http://www.nytimes.com/2013/02/24/business/high-debt-and-falling-demand-trap-new-veterinarians.html?pagewanted=all[/url]”>http://www.nytimes.com/2013/02/24/business/high-debt-and-falling-demand-trap-new-veterinarians.html?pagewanted=all&lt;/a&gt;&lt;/p&gt;

<p>

Some vets and professors say [Ross], which is owned by DeVry Inc., a publicly traded educational company based in New Jersey, is a vivid example of all that has gone haywire for aspiring doctors of veterinary medicine, or D.V.M.’s, as they are known.</p>

<p>When you factor in cost of living and commuting costs, Ross is one of the more expensive places in the world to get a degree.

</p>

<p>And most frighteningly:</p>

<p>

If getting in is easy, staying in is surprisingly hard. About 20 percent of Ross’s first semester students won’t make it to graduation, say administrators, an exceptionally high rate of attrition. (At American schools, it’s typically closer to 2 percent.) About half of those students are bounced for poor academic performance. Dean Watson says most students flunk out early on, in the first and second semester. But some fail much later. In 2006, Diana Reyes was ejected in her sixth semester, leaving St. Kitts with $160,000 in debt and no degree.

</p>

<p>Ms. Reyes is now working as a vet tech back in the states, earning under $20 an hour. She’s flat broke, and will never get out from under that debt. Her family has to help her with the loans. </p>

<p>The loans you’re proposing taking out aren’t dischargeable in bankruptcy. They could utterly destroy your grandfather’s retirement if you aren’t able to pay them back. I suspect that your grandfather isn’t truly aware of the risk he’s taking in his great pleasure in helping you out. I would never, ever want to expose one of my loved ones to this type of financial risk. </p>

<p>One of my close relatives is a UC Davis trained vet who graduated within the last decade with debt of just under $100k, typical for the school. He was fortunate to find a government job that included debt forgiveness as part of his compensation package. Meanwhile, many of his friends from vet school have been hopping from one vet clinic to another as they are hired and then laid off. And that’s at Davis, which is far more highly regarded than Ross. </p>

<p>Finish your degree, work as a vet tech, and then figure out what to do next. Taking out massive debt for Ross is a bad, BAD idea.</p>

[mom2collegekids]

<p>Slithey is right. Ross is a bad risk…for you and your grandparents. </p>

<p>I also hate to see students borrow a lot for undergrad as premed/prevet/predental majors since so few of these prehealth frosh ever make it to professional schools because they can’t make it thru the weeder classes of bio, gen chem, and orgo.</p>

<p>mercy is mostly a commuter school. Can you commute to save money. It’s not a good idea to borrow for R&B anyway.</p>

[brendank21]

<p>Mercy is mostly commuter. The room and board cost alone is over $12,000. The tuition is only about $18,000 which is low for a private school. If you really want to go here see if it possible to commute. </p>

<p>Also you said went to community college. How many credits will you be transferring over?</p>

[mom2collegekids]

<p>*I’m already facing $300,000 in vet school. *</p>

<p>I’m curious…how much do you think you’ll be earning as a young vet?</p>