<p>Hello, all.</p>
<p>For the past five months I have been accepted, received a little financial aid, and am planning on attending a private, four-year university in a major city about an hour from where I currently live. I would love to move down to the city and start my new life at that school, but last night I really got upset after something happened. </p>
<p>I looked at my bank account and the current balance. I then went on to think that every single penny of what I currently have in my account would be completely gone and that would pay for only one SEMESTER of classes at this private university, including all of the financial aid I have already received. So, I would definitely have to get student loans for the next three years.</p>
<p>My parents have offered to help out for the first year, but I would be really draining them and I absolutely do not want to do that. I feel as if it's my education, so it's my expenses. I love them for wanting to help, but I just can't drain their accounts as well as mine.</p>
<p>So, I'm in a major dilemma. I have already given the private school a personal five hundred-dollar scholarship that I was awarded and have already forked out $300.00 for a housing deposit. I would have to talk to the university about those, but should I be able to get most of it back? How much do you think of the housing deposit I can get back?</p>
<p>About three blocks away from my house there is a local community college with a tuition I could afford until I earn an Associate's Degree and still have money left over. Do you think this is the route to go? I am really second guessing myself now and my parents I am sure are now worried for me, too.</p>
<p>I also have about twelve credits at the local community college already. I'd probably have my AD in less than two years, yes?</p>
<p>Any advice or suggestions would be great. Thank you so much for reading.</p>
<p>All the best.</p>
<ul>
<li>C</li>
</ul>
<p>Although I don’t have much advice for you, I don’t think obtaining large amounts of debt is worth it.</p>
<p>You seem to not want to burden your parents with the finances, which is nice, but in all honesty, I think going to that college would be better than the community college as long as you don’t rack a lot of debt.</p>
<p>But it all really comes down to finances.</p>
<p>What I would plan to do afterwards is transfer to and finish up at a four-year university. My grades are near perfect and I am sure I wouldn’t have a difficult time transferring into another school.</p>
<p>I am at the very, very least getting my four-year degree in finance. I am planning on going to graduate school for my MBA.</p>
<p>The obvious solution is to go to community college, hopefully make Phi Theta Kappa (I think that’s the honors society) and then transfer after you get your associate’s degree.</p>
<p>Here is a tool that can help you analyze your numbers: [FinAid</a> | Calculators | Award Letter Comparison Tool](<a href=“Your Guide for College Financial Aid - Finaid”>Award Letter Requirements - Finaid) Even if you did lose both deposits completely, what you would save by attending the community college may be worth it. </p>
<p>You are absolutely correct: college is a four year expense. It will do you almost no good if all you can pay for is one semester. You need to have a plan to pay for your whole education.</p>
<p>Rather than stressing over this, talk to your parents. Surely they should have input on this important decision.</p>
<p>And is there no intermediate option between community college and a private 4 year school? - a less expensive 4 year state school with an honors program, for example? If you took a gap year and worked for a year, could you then afford to go to community college for just one year and then transfer to a 4 year school for the last three years? </p>
<p>The advice not to go deeply into debt for your undergrad degree is solid - but cc isn’t the only alternative.</p>
<p>Community college for two years, then transfer to a state university for two years to complete one’s bachelor’s degree is a common path for those who lack the money to attend all four years at a four year school. Some students who do this go on to top PhD programs in their majors.</p>
<p>If you have good enough grades and exam scores to qualify for solid merit-based scholarships, you may be best off if you take a gap year and then apply for fall 2013. Take a look at the merit scholarship threads in the Financial Aid Forum, and see if any of those work for you. You will get your best chance at good aid as a freshman applicant.</p>