No financial safety

Paying for College
1

<p>I don't have a financial safety, and I fear that I am doomed. </p>

<p>This October, I sat down with the application for my financial safety, the University of Tennessee at Chattanooga. I lifted a trembling pen to the line where I was supposed to put my first name, and I focused all my willpower on placing it on the paper. But I couldn't do it. I just couldn't. By now the deadlines are long gone.</p>

<p>In-state public schools do not strike fear into the hearts of Virginia, North Carolina, Vermont, or Wisconsin residents, but in Tennessee higher education is literally falling apart. I once drew a red line on my wrist to indicate that I would commit suicide before going into the UT system, lottery scholarships or no lottery scholarships. I refuse to be some Jude the Obscure languishing in the waterstained lecture halls of a crumbling party school. </p>

<p>I am crying as I write this because my family only makes $40,000 a year. </p>

<p>My solution right now is to apply to eleven private schools, nine of which are admissions matches, and wait to compare my aid and scholarship packages. Some people have told me that this is a terrible strategy, others have told me that it will work. My schools are known for good aid; it's not as if I haven't researched everything. However, I wouldn't be posting this if I weren't terrified. </p>

<p>Agnes Scott College
Beloit College
Clark University
Earlham College
Grinnell College
Guilford College
Hendrix College
Kalamazoo College
Maryville College
Smith College
The College of Wooster </p>

<p>(I'm applying to some of them under nonbinding early action, but, flawed as I am, I am not stupid enough to apply anywhere early decision).</p>

<p>My two questions are:
(a) Am I an idiot?
(b) What will the outcome of all this probably be? </p>

<p>I anxiously await your replies.</p>

2

<p>Have you considered checking out some of the state schools in Missouri next door? For out of state, they have some real bargains and some excellent schools.</p>

<p>But separate of that, have you done an estimate of your expected family contribution (EFC)? I would bet your’s will be very manageable and give you very good opportunities for help at a number of the schools you have already applied to. I recognize a few of those schools on your list and know they have very generous track records.</p>

3

<p>Very few of these schools meet need. Given the endowment troubles, most will be more need aware than ever. Given that you sound like you need a full ride, you need a drop dead safety. If your stats are over the 75th percentile for these schools you will probably be OK, but these are tough times and you shouldn’t take a chance.</p>

4

<p>Depending on your major, you may be able to attend an out-of-state public U for in-state tuition and fees through the Southern Regional Education Board Academic Common Market. Read about it at [Academic</a> Common Market/Regional Contract Program](<a href=“http://www.sreb.org/programs/acm/acmindex.aspx]Academic”>Academic Common Market - Southern Regional Education Board)</p>

<p>You find no public universities worth attending in your home state. What shape are the community colleges in? Can you do two years at one of them, and then transfer elsewhere? If that wouldn’t be an option either, you need to come up with a clear Plan B. If you don’t get into a college/university that you and your family can afford, what will you do? Will you enter the workforce now? Will you enlist in the military? Will you take up a volunteer commitment as a Gap Year project and reapply next year? Think through your options and come up with a Plan B that you can live with if you find out that you need to.</p>

<p>If you haven’t run an EFC calculator yet, there is a good one at <a href=“College Board - SAT, AP, College Search and Admission Tools”>College Board - SAT, AP, College Search and Admission Tools;

5

<p>Have you run one of the EFC estimators?</p>

<p>ETA: cross posted w/happymomof1</p>

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<p>MissPick: <em>hug</em> If one or some or all of those schools don’t scoop you up, they’re flat crazy.</p>

7

<p>I recall when UT-C was on your list and assumed you had the finances to handle Maryville when that became your safety. Since that isn’t the case, you’ve got some decisions to make.</p>

<p>First, it looks like you can apply to UT-C all the way up to June (though you might miss out on scholarship opportunities - need to apply by 2/1/10 for those), so that avenue isn’t disappearing by following your current strategy. If you truly can’t bring yourself to attend a TN state school, and you find your other options are too expensive, you have to come up with other options.</p>

<p>Two schools to consider which seem to fit your wants and are relatively inexpensive for OOS students are Minnesota-Morris (has an application fee) and Truman State (free!). Apply to both by 12/15 for scholarship consideration. Figure out if you can swing the COA. Again, if not, you’re back to the current strategy, state schools, or…</p>

<p>What about a gap year? Having Aspergers, taking time to work on independent living skills isn’t a bad idea. Though DS didn’t go that route, it would have given him time to work on his deficits before piling on the demands of college. As it is, he’s struggling, but the hope is that as long as he keeps his head above water, he’ll be all the stronger for it in the long run. It’s not a disaster to wait while you earn some money and further develop the areas you’ll most need help with when away from home.</p>

<p>A bit of a compromise is community college. You still keep your “head” in the academic world, but without quite getting thrown to the wolves yet, and at a lesser cost. If you believe you’re ready to try striking out on your own, though, and you can financially afford to do so, I’d look at this as a lesser option, as FA for transfers is typically less generous than for incoming freshmen.</p>

<p>Whatever you do, please have a financially viable alternative. You can make this work! Don’t rely on hope and wishes. Even if UT-C is far from your first choice, I doubt it’s as bad as you fear, and it wouldn’t be the end of the world to start there. Good luck!</p>

8

<p>misspickwickian (love your screenname!)</p>

<p>Why are you saying that all of your safety deadlines have passed? What were the deadlines for UT-K and UT-Ch? Is it really too late just to submit an app?</p>

<p>Does your state have any agreements with other states for in-state tuition?</p>

<p>What are your stats? Maybe they’re high enough for in-state at schools like Clemson that waive OOS for high stats kids. I am thinking this…a school like Clemson who might waive OOS, could then more likely meet need.</p>

<p>So, are we to understand that you essentially need a free ride somewhere.</p>

<p>I know Vandy wouldn’t be a “safety” but it does meet full need w/o loans.</p>

<p>What about Mt Holyoke? Again, not a “safety” and I dont’ know your stats, but doesn’t MH give a lot of aid/scholarships???</p>

<p>I wouldn’t recommend a “gap year” if you’re also looking for merit $ along with FA for a financial safety. Some schools have gotten very picky about insisting that “in-coming freshmen” merit be for those who just graduated. </p>

<p>I also wouldn’t recommend a CC for you (unless it’s a super good one) because I think that you’re too intellectual for most CCs (no offense to anyone.)</p>

<p>{{{{ hugs }}}}} This can all work out. :)</p>

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<p>I don’t have a financial safety either and I have a efc of zero.</p>

10

<p>^^^^</p>

<p>Cool…</p>

<p>Since I know or remember your stats, do you qualify for any merit money for schools in Mich or elsewhere?</p>

<p>For you, what would be a financial safety?</p>

<p>Would it be a school that you could commute and your tuition/books would be covered with grants?</p>

<p>Would it be a school that you could get merit plus grants to cover much/all of your expenses?</p>

<p>Would it be a school that you’re quite sure that you’d get admitted to that will meet all need (preferably without a LOT of loans)?</p>

<p>What would you like your financial safety to be? :)</p>

<hr>

<p>ok… :slight_smile: back to the OP… :)</p>

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<p>I’m the first to admit that I can be, shall we say, dramatic. I’m a bit of a Chicken Little (“the sky is falling! They won’t accept me! I won’t be able to pay! I’m too delicate for a state school! AGHHHHHHH!”) Just understand that it is a function of an anxiety disorder, not malignant narcissism. </p>

<p>No, I have not run an EFC calculator. However, my family is relatively debt-free and our EFC, though low, will not be zero. I could probably pay for my own books and transportation, though paying full tuition at any private college is out of the question. </p>

<p>Thanks for the information on UT deadlines; my guidance counselor said that if I wanted to go to a UT campus, I had better apply in October 2009. I don’t know why she said that. I guess I’ll just apply in January, when I’m a little calmer. </p>

<p>To everyone who payed me compliments: thank you—it means a lot to me during this stressful time.</p>

<p>@mom2collegekids—an ideal financial safety is a school that I would be admitted to that has a lot of grant aid. Since I don’t have an admissions safety either, this is a problem.</p>

12

<p>^
A financial safety for me is a school I would not have to take out any loans, a second type of financial safety would be a school I do not have to take out the max set of loans I would consider. In addition it also has to be a school I like and have been accepeted into.</p>

13

<p>My financial safeties are admission matches or reaches. That is the nature of the beast for EFC 0 students. My best safety or low match is only able to offer me $30,000 or less in debt. I doubt my offers from GW or BU, with tuition/room and board increases considered, will be able to do much better. However, some of my matches are quite solid. I don’t know what I’d do if I were an EFC 0 students not competitive at top 20 schools. I can scarcely imagine a worse situation. Good luck!</p>

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<p>^
Yeah, its like if only I had the stats than I could virtually not owe a penny. Though actually anyone with great stats can seek out merit scholarships at a university that may offer a full ride.</p>

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<p>^^</p>

<p>Cool</p>

<p>Are there any Mich colleges that you like that are within commuting distance? (I know, probably not desirable.)</p>

<p>Do your stats qualify you for high merit anywhere? I recently saw a couple of schools on the East coast that gave great merit for good stats.</p>

<p>There are also a couple of Catholic U’s on the west coast that give a lot of merit.</p>

16

<p>Coolbrezze, you do have a financial safety. UMich and MSU would both pay full freight for you so don’t give us that crap.</p>

17

<p>Coolbreeze is deferred at UM, I believe. I think he also said he doesn’t want MSU. There are other options in Michigan that are great, though, so he really CAN get a decent deal if he is willing to settle for a non-flagship or an LAC.
Sorry if you are not a guy, Coolbreeze. I just assume you are, for whatever reason.</p>

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<p>Is Coolbreeze not even going to apply to MSU as a financial safety? Just for a “just in case”? That seems short-sighted, unless he has serious reasons for not EVER going there. :)</p>

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<p>MissPickwickian :)</p>

<p>My sweet magnolia blossom, you picked the wrong financial safety. </p>

<p>Get your rear off the veranda, put down your fan, pour yourself a non alcoholic mint julep, and look up UT Knoxville for financial safety purposes.</p>

<p>'Lest you get the vapors, please keep in mind that UT Knoxville is “it” in terms of public universities in our great state of Tennessee. And, you surely do need a financial safety.</p>

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<p>No they are not…see below.</p>

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<p>It’s NOVEMBER…how about getting that application done sometime in the next two weeks.</p>