<p>the standard package is $19,000 in Sub STaffs and $8,000 in unsub Staff, that comes with interest on the unsubs to about $29,000 or so after 4 years. Colleges can give the student perkins on top of that and some do. Some colleges also loan the student some funds from the college. So it is possible for the student to borrow over $35,000 directly either from the gov or the college combined. That is not an unusual situation. The idea that a low income kid can go away to college without borrowing, actually without heavy borrowing, is no longer a reality for most low income kids.</p>
<p>Here in SE Pa many students will stay local and go to Villanova, St Joes, LaSalle, Widener etc.Low income students going to these kinds of schools invariably end up with very high loans. Here in Pa the larger State schools, PSU, Pitt etc are not accessible to low income students at their main campuses first two years. The op’s daughter even with her relatively high scores would not financially be able to go. The lower level states are still accessible. The student in question would get around $9,000 in state and fed aid and probably a small scholarship maybe $2,000. With loans, work etc she would probably be able to attend but would end up with the $29,000 loan package. It’s pretty standard stuff. The privates know that and they compete against the states on those terms. If accepted to places like Dickinson, Gettysburg etc to which the student is more than qualified, she would likely have her 0 EFC met or close to met, but still have the standard loan package or perhaps a little higher. The advantage is that so many other things are paid for - you can go abroad etc. But really at $33,000 income, it’s a very challenging proposition. At that income level the vast majority of students are commuting to a local state or cc, going ROTC, joining the service or something like that. The college game has become so complex and competitive that even having scores in the top 10% is no longer any guarantee of college access, which is primarily based on income.</p>
<p>As of last year, I had four kids in private universities, with a sticker price of Just over 200,000 per year. If I had read the posts on this forum I would never had allowed my kids to apply to the schools they had. There was no way that we could have afforded that kind of money. So once again, I would recommend to the OP to inform your daughter to get the fee waivers from her guidance office at the highschool and let her apply to some of the schools that have a close to 100% need met. This is why I keep mentioning the Ivys or high ranked schools. </p>
<p>We still do not know if this kid has even taken SATII’s, has a job,involved in anything interesting, or has taken any AP classes. If you gave a better picture other people may be able to direct you in a way that may actually make both you and your daughter happy.</p>
<p>Just thought I would mention that applying ED is not always a bad idea. It depends on the school, and whether you fall into the extreme need or are wealthy enough to pay full price. The schools your daughter is considering for Ed would NOT be wise. This is why I suggested the schools that I did providing she has an interesting resume.</p>
<p>"This is why I keep mentioning the Ivys or high ranked schools. "</p>
<p>You keep mentioning those schools, but thus far, the OP hasn’t posted any indication that her D has the stats, ECs or other factors that would make her a very attractive applicant to those schools. Just being a low income student isn’t going to boost her in. She’s also from N.J., a state that tends to be overrepresented in top schools.</p>
<p>Sorry if this is redundant, I haven’t read the entire thread, but with those stats should should be offered merit aid at American and BU. PM for more info</p>
<p>Just to keep things in perspective here, this particular student with a SAT score over 2000 and a 3.9 gpa coming from a family with an income of only $33,000 is a very unusual student.
The number of prospective students with those kind of stats and that level of income is probably only a few thousand, nationwide. So congrats to the OP’s daughter on her level of achievement, it’s quite an accomplishment. Where has her high school been in all this? These kinds of students don’t come along all that often, I haven’t heard anything yet about much support from the school or the guidance department.</p>
<p>“Just to keep things in perspective here, this particular student with a SAT score over 2000 and a 3.9 gpa coming from a family with an income of only $33,000 is a very unusual student.”</p>
<p>Her accomplishment is unusual and well worth celebrating. </p>
<p>I’m not sure how rare such applicants are, however, when it comes to top colleges. I have seen even immigrants from low income families with similar and higher scores. From other posts by the OP, I see the mom is a nurse, so the student does come from a family with some education. Could be, too, that the father has some education.</p>
<p>There isn’t a shortage of students from N.J. who are applying to top colleges. Some such students even are low income. The OP thus far hasn’t posted anything indicating that her D has had exceptional challenges or EC achievements – the kinds of things that the very top colleges factor into admission. Her SAT is above average, but are low for top colleges. Just being poor wouldn’t be enough probably to tip such a student into the top colleges that are most generous with their need-based aid.</p>
While its certainly true that the higher the family income the more opportunities afforded a student, the better the neighborhood schools tend to be, etc. $33K is not an rare income level. Whether that’s good or bad is another story, but according to a 2005 Census Bureau report just over 1/3 of the families in this country make $33K or less. </p>
<p>northstarmom - agreed on your comments - getting into the very top schools is a whole other story, but nevertheless, a very impressive achievement. One of the things that disturbs me about this whole college game that we play here on cc is that very bright hard working kids like this one often fall through the cracks mostly just due to low income.</p>
<p>Northstarmom- I agree with most everything you have said. Low income is not her daughters ticket to the Ivy’s and without knowing more about her stats no one could determine if this is even a slight possibility. The OP obviously does not want to provide the information so therefore all of the information that anyone has given her is useless.</p>
<p>She might have a shot at Claremont McKenna (her SAT Scores might be a little low, but 3.9 UW is in the range) which would fit well with her stated academic interests and is extremely generous with financial aid (I think they’ve gone no loan)…when I went to school there my parents made slightly more than your family, but my merit aid and financial aid from CMC meant that it was far cheaper for me to go there than to Cal or UCLA (other options at the time).</p>
<p>Hi. I have more info about my D’s other stats:</p>
<p>Our HS offers 5 AP classes, and students can’t take them until they are seniors. My D is taking 3 of them now (which she tells me are time-consuming), and she does plan on taking the AP exams in May. </p>
<p>She took the SAT subject test earlier this month . She told me that she doesn’t think she did well on them, so she’s worried that if they’re low, she won’t be able to apply to schools that have subject tests as an option. (She figures students still send them even if they’re optional in order to boost their chances.)</p>
<p>Here are her ECs: she did REBEL, she on an Academic Challenge Team, member of NHS, and participates in her HS’s drama club. She’s the president of the drama club this year. The only reward she’s won, besides the honor roll, was for an anti-drunk driving PSA. This past summer she did have a job (which she’s saved money from), and she’s done some volunteering for the Red Cross. Compared to the EC list of other students that I’ve read on this site, hers don’t seem as impressive. I don’t know if she’ll stand out from other applicants, especially at the Ivy-League level.</p>
<p>Well, Im not going to mention anything about colleges for a few days to D. A break is always good, and will hopefully lessen the frustration. </p>
<p>I am planning on showing her some campuses. It will have to be done on weekends, but she needs to see other ones besides GW. (We went to DC a couple of years ago, and walked through their campus.) Hopefully, there wont be any giant squirrels around to scare her. LOL.</p>
<p>Calmom: if she doesnt get into any schools, the local CC is available.</p>
<p>Longhaul: I never thought about prestige time, but what you posted does make sense. </p>
<p>Mom2collegekids: Im a recent nursing-school graduate, and Im trying to save some money to help her out next year. Im hoping for over $3K, but more if I can. That will at least cover books, personal expenses, transportation, and some of the numerous fees that colleges charge. </p>
<p>I also think it would be interesting to have a thread about how much college grads borrowed, their salary, and whether they are able to pay it off comfortably. I couldnt imagine having a loan payment of $460 per month on top of my other bills, so it bothers me that young adults, who probably earn less, have to pay that much. I would prefer no loans at all for her, but the less she has to borrow, the better. Also, I warned her about private loans, explained to her about compounding interest, and explained the differences between subsidized and unsubsidized loans.</p>
<p>Bundle,
you and your daughter really want the same thing.</p>
<p>What I would do is write your daughter a very nice email. Tell her how proud you are of her and how you want her to get everything she wants in life and how you will back her to the max of your ability.</p>
<p>And also, in writing, lay out the financial parameters that apply. Exactly. Specify how much $$$ she can expect to receive from you. Specify what you will do with regard to loans.</p>
<p>Fill out the Profile and the Fafsa.</p>
<p>Let her apply to a wide range of schools.</p>
<p>All with the understanding that she will be making some important decisions this spring. And, that depending upon the options she has selected for herself, that some of the decisions may have been made for her, because we can’t always have what we want.</p>
<p>And…congrats on becoming a nurse…awesome…there’s a special place in heaven for nurses! :)</p>
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<p>We had a similar convo with DS1 when he emotionally stated that “he didn’t care” how much the repayments would be There was no “getting thru to him” at that point. But, time fixed that after the “prestige” time went away and the fabulous $$ offers started coming in!.</p>