My parents told me they will not pay the EFC, What do I do?

Paying for College
41

<p>Grad schools often accept from a variety of related majors. </p>

42

<p>OP, what is the deal with your parents? Do they not care if you go to college? Or they don’t think they should have to contribute? Or do they want to save money by starting you at a CC?</p>

<p>If you won’t go to a CC, I think that is short sighted. It is a way to afford some lower division coursework. My friend started at a CC and went to a CSU and caltech for grad school. Lucky she wasn’t as short sighted as you.</p>

43

<p>I’d be paying off the loan though, wouldn’t I? </p>

44

<p>I need to consult a financial aid specialist about these things before I make any commitment. </p>

45

<p>

</p>

<p>My thoughts exactly…especially since OP has to take out PLUS or private loans to completely cover their EFC.</p>

<p>Have you asked your parents about loans yet? Most that I know wouldn’t want to get swallowed up by their child’s debt…</p>

46

<br>

<br>

<p>what? why?</p>

47

<p>I will talk to my parents and see what I can come up with. I will also need to talk with my high school counselor or anyone else who is savvy with financial aid. I have talked to my parents about loans, and they say that I will need to take them out and pay for them myself. Those are the facts. </p>

48

<p>

</p>

<p>The fact of the matter is, nobody’s going to give you a loan without a cosigner. The $27k TOTAL in Stafford loans is all you’ll get.</p>

49

<p>Okay then, I will try to figure out what I can do. This thread is no longer helping me, please stop commenting. </p>

50

<p>Sorry but these threads exist so others can read and learn something too and we all are allowed to comment. You got helped by finding out something you didn’t know.I suggest your read the Financial Aid FAQ pinned to the top of the forum you can understand more of these basics.</p>

<p><a href=“Financial aid FAQs - Financial Aid and Scholarships - College Confidential Forums”>Financial aid FAQs - Financial Aid and Scholarships - College Confidential Forums;

51

<p>One of your other threads says you have a 4.0 GPA and 1880 SAT score.</p>

<p>Assuming that your GPA is unweighted, <a href=“http://automaticfulltuition.yolasite.com/”>http://automaticfulltuition.yolasite.com/&lt;/a&gt; lists some scholarships for you at schools with mechanical or aerospace engineering:</p>

<ul>
<li>Prairie View A&M: full ride with 3.5 GPA and 26 ACT or 1760 SAT; residual cost $5,324.</li>
<li>Tuskegee: full tuition + books with 3.5 GPA and 26 ACT or 1180 SAT CR+M; residual cost $11,064.</li>
<li>Florida A&M: full tuition with 3.5 GPA and 27 ACT or 1800 SAT; residual cost $13,096.</li>
<li>Howard: full tuition with 3.0 GPA and 26 ACT or 1170 SAT CR+M; residual cost $15,754.</li>
</ul>

<p>A higher SAT or ACT score can open up more possibilities:</p>

<ul>
<li>Tuskegee: full ride with 3.7 GPA and 29 ACT or 1300 SAT CR+M; residual cost $2,664.</li>
<li>Howard: full ride with 3.5 GPA and 32 ACT or 1400 SAT CR+M; residual cost $3,462.</li>
<li>Louisiana Tech: full ride with a 3.0 GPA and 32 ACT or 1400 SAT CR+M; residual cost $5,229.</li>
<li>Alabama - Huntville: full tuition with 3.5 GPA and 30 ACT or 1330 SAT CR+M; residual cost $9,592.</li>
<li>Alabama - Tuscaloosa: full tuition + $2,500 with 3.5 GPA and 30 ACT or 1330 SAT CR+M; residual cost $10,622.</li>
</ul>

<p>You can take a federal direct loan of $5,500, so residual costs below that can be handled with just that loan. Higher residual costs can be handled by adding some work earnings plus some parent contribution (if they will contribute at least a few thousand dollars, even if well short of typical financial aid EFC).</p>

52

<p>There are also competitive (as opposed to automatic) large scholarships listed here:
<a href=“Competitive Full Tuition / Full Ride Scholarships - #46 by ucbalumnus - Financial Aid and Scholarships - College Confidential Forums”>http://talk.collegeconfidential.com/financial-aid-scholarships/1461983-competitive-full-tuition-full-ride-scholarships-p4.html&lt;/a&gt;&lt;/p&gt;

<p>If your EFC is significant, but your parents’ won’t pay anything close to it, then your college search strategy will likely have to favor large merit scholarship schools (full ride; full tuition may work if your parents contribute something, even if far short of EFC).</p>

53

<br>

<br>

<p>You are confused. This thread is HELPING you. It is clearing up misconceptions that you have. You thought you could borrow a lot. You cant. You have asked your parents if they will borrow or cosign, they have said no. So you have learned that borrowing beyond Stafford amounts isnt an option for you.</p>

<p>You have learned that you need to study and retake the SAT and ACT and hopefully get scores where a near full ride can be found.</p>

<p>There was a thread by momfromtexas who had two children who needed full rides. One had good, but not top stats. She was still able to find him a free ride. It wasnt at a popularly known school, and it may have had a lot of commuters attending, but he got to go for free…which is what their family needed. </p>

<p>If you can get your family to pay SOMETHING…even if it is the amount that they would get from Tuition Tax Credit that they will get on their taxes …plus the amount that they will save not feeding you at home…then with some strategy and better scores you will have some choices. </p>

<p>Dont think that this thread isnt helping you just because there isnt a quick fix…like taking out huge loans. Those kind of quick fixes are an entrance to hell. </p>

54

<p>momfromtexas original thread: <a href=“http://talk.collegeconfidential.com/parents-forum/148852-what-i-ve-learned-about-full-ride-scholarships-p1.html”>http://talk.collegeconfidential.com/parents-forum/148852-what-i-ve-learned-about-full-ride-scholarships-p1.html&lt;/a&gt;&lt;/p&gt;

<p>updated thread: <a href=“Update on What I learned about free ride scholarships - Parents Forum - College Confidential Forums”>http://talk.collegeconfidential.com/parents-forum/291483-update-on-what-i-learned-about-free-ride-scholarships-p1.html&lt;/a&gt;&lt;/p&gt;

55

<p>Our beloved BobWallace has generously given his time and efforts to create some fabulous threads and lists, including this list that you should look over…</p>

<p><a href=“http://automaticfulltuition.yolasite.com”>http://automaticfulltuition.yolasite.com</a></p>

56

<p>What you are saying makes little sense. Your parents will BORROW to pay for your college costs, but not pay them??? IF they are borrowing to pay them, they are paying them. If they don’t have the savings or the current income to pay them, or don’t want to use those sources to pay your college, but will borrow to pay it, then well and good. I borrowed heavily to pay for my oldest’s college. Just paid it all off 15 year later. </p>

57

<p><a href=“http://www.ncat.edu/admissions/financial-aid/aid/scholarships/new-fresh-sch.html”>http://www.ncat.edu/admissions/financial-aid/aid/scholarships/new-fresh-sch.html&lt;/a&gt;&lt;/p&gt;

<p>National Alumni Association Scholarship
The National Alumni Scholarship recognizes exceptional academic talent and ability. This scholarship represents the Alumni Association’s pledge to assist the university in attracting quality students. Minimum qualifications include having a 3.0 or higher cumulative GPA and a 1000 or higher SAT (verbal and math only) or 22 ACT score. This award covers full tuition, fees, room, board and books for four years as long as the students meet the yearly requirements. It must be postmarked on or before January 15th.</p>

<p>Lewis and Elizabeth Dowdy Scholarship
The Dowdy scholarship covers full tuition, fees, room and board renewable for four years contingent upon meeting yearly requirements. Students are required to complete the Free Application for Federal Student Aid (FAFSA). Minimum qualifications include having 3.75 or higher cumulative GPA and a 1200 SAT (verbal and math only) or 26 ACT score. It must be postmarked on or before January 15th</p>

<p>Students receiving scholarships will be officially notified in writing. There is no application process for scholarships for the College of Engineering.</p>

<p>Depending on available funds, the minimum scholarship requirements for the College of Engineering are outlined below: </p>

<p>Have a 3.5 cumulative weighted grade point average*
Combined SAT score of 1150 (Verbal and Math only) or Composite ACT score of 26 (excluding the writing component)*
Complete the Free Application for Federal Student Aid (FAFSA). This form can be completed online at <a href=“http://www.fafsa.ed.gov”>www.fafsa.ed.gov</a>. Our school code is 002905. The priority date for completing the FAFSA is March 15th each year.
The university-level scholarships are awarded primarily on academic merits with some consideration given to the student’s financial need. If you have additional questions concerning university-level scholarships, you may contact the Scholarship Office at (336) 334-7973.</p>

<p>Major:
We offer a Bachelor of Science, Master of Science, and Doctor of Philosophy Degrees in Mechanical Engineering. Our undergraduate degree program has an Aerospace Option for students who are interested in aerodynamics, aero-propulsion, avionics and aero-structures. An Honors program is available for those students with a strong academic background and research interest.</p>

<p>The program of study leading to the Bachelor of Science in Mechanical Engineering (BSME) degree is accredited by the Engineering Accreditation Commission of ABET, <a href=“http://www.abet.org”>http://www.abet.org</a>.</p>

<p>Kat</p>

58

<br>

<br>

<p>@cptofthehouse‌ </p>

<p>It does make sense…to them. We see this often here on CC. Parents who agree to borrow Plus loans or cosign student loans…with the firm agreement that the student is to pay them ALL back.</p>

<p>Of course, if the student cant pay them back, the parent’s credit is hurt if the parents wont pay. </p>

<p>Tons of parent have such agreements…sadly.</p>

59

<p>I know, Mom2, and agree. I see parents preferring to go the cosigned route rather than PLUS with the mistaken idea that it’s more protection for them, not understanding that the benefit is almost all to the lender, not the parent. With PLUS there is an insurance aspect included in the loan–it’s forgiven if either parent or student should die, and there is a lot more flexibility, Usually the interest rate is about the same too. It can terribly hurt a young person’s employment prospects to have a huge loan outstanding on the credit report. There are financial institutions, govt jobs and companies that don’t want to touch some one so terribly in debt without the income to pay it off.</p>

60

<br>

<br>

<p>Right. I think those parents think that since the STUDENT’S name is on it, that means the student (not them) has to pay.</p>

<p>I think with Plus, if either the parent or child dies, the loan is cancelled. Is that right? But not with private cosigned loans. </p>