Need advice on my aid package

Paying for College
1

<p>So this is the most generous aid package I received of all schools (from URochester) but I still feel it would leave me in alot of debt in the end. Is this a good aid package or should I just go to a community college (which would be the most affordable).</p>

<p>This is for both semesters (1 year)
Rochester National Grant : $31,100.
NYS Tution Assistance Program: $500.
Federal Work Study Eligibility: $3,500.
Federal Direct Subsidized Loan: $3,500.
Federal Perkins Loan: $2,000.
Federal Direct Unsubsidized Loan: 2,000.</p>

<p>Considering that estimated costs are ~ $54,000, would this package suffice? I'm not quite familiar with loans either, when do these have to be paid back? Also, I'm hoping to attend medical school after my undergrad =/
I was also considering transferring to a school by sophomore year that would help me financially, any suggestions?</p>

2

<p>Cost Breakdown: 2010-2011 Item Expected Cost
Direct Cost (Tuition and Fees) $40,282
Room and Board $11,640
Indirect Costs (Books, Supplies, & Misc.) $1,250
Transportation $500
Other expenses $1,058
Total $54,730 </p>

<p>The direct (billable) costs are $51,922 and you have grants and loans of $39,100. Will your parents be able to pay the other $12,822? Since you already have $7500 in loans in your package, you do not want to be responsible for making up any more of the balance. You might be able to reduce your loans a bit with your summer earnings but will also have to have money for books and personal expenses. I see you have a work study award, so you may not need to save up for both semesters.</p>

<p>Keeping in mind that costs will inevitably go up, and you are eligible for even higher loans in subsequent years, I think this package is too debt heavy. The big question, though, is how do your parents feel about it? Can they cover that amount and help reduce your loans? Do you have a choice in between UofR and a CC? Did you apply to any SUNYs?</p>

3

<p>This is for both semesters (1 year)</p>

<p>Rochester National Grant :… $31,100.</p>

<h2>NYS Tution Assistance Program:… $500.</h2>

<p>Free Aid…$31,600</p>

<p>Self Help</p>

<p>Federal Work Study Eligibility: …$3,500.</p>

<p>Federal Direct Subsidized Loan:… $3,500.
Federal Perkins Loan: …$2,000.</p>

<h2>Federal Direct Unsubsidized Loan:… 2,000.</h2>

<p>Self Help (7500 in loans)…$11,000</p>

<p>Self Help aid…$11,000</p>

<h2>Free aid…$31,600</h2>

<p>…$42,600</p>

<p>COA…$54,730</p>

<h2>minus aid…$42,600</h2>

<p>Parent contribution…$ 11,730</p>

<p>The loans are high considering the med school issue. Can your parents pay for the EFC? Can they more than their EFC?</p>

<p>What is the school that you’d transfer to as a soph? If you’re considering transferring as a soph, then go to a CC first. </p>

<p>However, is there a SUNY you could quickly apply to?</p>