<p>Ok, so I have a high EFC. Don't hate me. I got accepted to Stanford, and that is by far my first choice school. The problem is that because of my high EFC, Stanford naturally gave me $0 in aid. But my parents, in all their wisdom, refuse to pay everything (they said they will pay one year's tuition). Assuming I go to Stanford in my current position, I will graduate about $120,000 in debt. What do I say to Stanford? Is there some way they can give me some aid despite the fact that I don't "need" it but I need it? Thanks guys.</p>
<p>Did you recieve anything anywhere else that you could send for them to compare ie free ride at state school etc. If it was ED then I would not get my hopes up. Do you have a sibling that may go to college in the next few years. That will make a huge difference. Congrads by the way- great school!</p>
<p>You can try to talk to Stanford, but I would get your hopes up. Talk to your parents and see if you can work something out. If not, you'll need to look at your alternatives and determine what is most important to you. What other schools have you been accepted to? Did they offer any merit aid? You might find that the top public in your state will be a much more cost effective alternative without a significant, if any, difference in education quality</p>
<p>u got some parents....</p>
<p>Getting merit aid for that much money will be nigh impossible.</p>
<p>Questions:
1. Can you get personal loans up to $120,000. If you can great. If you can't, better look real hard at your options.</p>
<ol>
<li><p>Be familiar with loan programs. Most people, young and old, don't really understand loan programs, let it be mortgages or credit cards. Can you talk to parents is getting PLUS programs instead of paying for 1 year tuition, cash. There are at a lot of variations of this theme such as you pay interest, they get tax benefit, combination of two, etc. </p></li>
<li><p>Talk to GC, lenders or Stanford FA people for other ideas.</p></li>
</ol>
<p>well im shooting for outside scholarships worth $40,000. My parents can pay another 40. So thats 50% tuition. I doubt I qualify for federal loans, but I guess $80,000 isnt that bad. I think if I dont go to stanford I will always regret not knowing what I missed. Yeah its worth it. Thanks guys :)</p>
<p>scholarships for 1 year or recurring?</p>
<p>If first year is paid by scholarships then parents pay 2nd year of school. 3rd year get unsubsidized or subsidized stafford load (currently $5500), and remain balance with PLUS and working. If you play cards right you will end up with $11,000 in stafford loads, and approx $60,000 in PLUS loans. Do a consolidation when you are in senior year of soon after graduation and your payments can be affordable for as long as 25 years (but can be much shorter depending on HOW you pay, not on interestor original setup), which is plus to you, not a minus.</p>
<p>Again you really need to study up on the loan programs. If you only look at the advertisements and don't get into the details- you can really lose a lot. </p>
<p>If kids and parents spend just 1-2 hours on getting knowledgeable concerning $$....rather than spending time in filling out applications and essays....</p>
<p>why dont you just go to a cc for two years and then transfer to stnadfor or the other ivies, if you cant afford them why put stress on your parents and yourself, its just not worth it, even with my scores and academic carrer i would of gone to a cc if my parents didnt have all the money they have, its just not worth it to make your parents suffer for your gain,its just one more thing they will hate you for later down the road when you become estranged, and i truly doubt a college name will get you a higher paying salary, and wouldnt you rather put 120k as a down payment on a new house for your family insted of on your education, i sure would............</p>
<p>Not I. My 17-year-old self has decided that I hate houses and never want to deal with the upkeep or spend the money required for a big house...</p>