And that is UW gpa
Well, I consider them safeties in the sense that I am fairly confident that I will be accepted. Not the money thing…which is more difficult.
I’m fairly confident that my parents will co-sign on a loan…they just won’t pay any of it.
And quick legal question:
If my parents and I co-sign, and then like 3 years into school, I get killed in a car crash, are they liable to finish paying the loan?
@project21 it is not 36K. That is what you are short. You cannot borrow that 36k yourself is what everyone is trying to tell you. All you are allowed to borrow your freshman year is $5500. That is it. Anything beyond that must be borrowed by your parents either in their name alone or cosigned with you. Are they on board with that? Are they willing to take on 143K in total debt in their name? It would be their debt even if you make a side agreement that you will be paying it. If you don’t pay it, they will come after your parents. Are you really sure they are willing to sign up for that kind of commitment? Have you talked to them about it? You say they can only contribute a few hundred dollars here and there and have a high EFC. If they already have a lot of debt they may be quite unwilling to take on more, or may not qualify for the loan depending on their situation.
20-30 hours a week working is not a good idea for a decent gpa and internships may or may not pay, may require you to travel to get to that internship, negating much of the earnings. If your parents are willing to do this for you that is certainly their option and yours. It is not financially wise at any level. There are more affordable options out there that can give you a great education, get you out of the sun and not put you in a situation of starting out your career in serious debt. Even if you did CC for 2 years and then went to Boulder you’d be in a far better situation.
Well how are parents paying for their children’s education then, if not by loans? I find it hard to believe that the majority of parents have upwards of $100k in cash…
What is your non-superscored ACT? You may not even get into most the schools you’re looking at.
You physically can NOT borrow 36k a year by yourself. What bank is going to trust an 18 year old with no credit history or income (at the time of loan) 143k.
Like dude, I’ve tried to get a credit card after two years of consistent payments on my car and I get declined for that with a 1k limit on it??? How on earth do you expect someone to hand you 143k?
Your parents would have to cosign, meaning they would be responsible if you do not make payments. Most parents won’t cosign that much, let alone be aproved for that much.
Did you fill out your FAFSA? If so, what was your EFC (estimated family contribution)?
Re #81
Yes, they would have to pay a cosigned loan if you are unable to, even due to death or disability.
Re #83
- Many students go to in state public schools.
- Many students follow the money by choosing the cheapest net price after scholarships and financial aid.
- Many students commute to local schools since it is cheaper for the parents to support them at home than pay for costs to live on their own at an away school.
- Many parents do have money saved up to help their kids with college costs.
NAU (Northern Az Unv) has the Lumberjack Scholarship if you have a 3.5 GPA in core classes and no grades below a B in the same. I believe it is full tuition. Then you can borrow and work for dorm/food etc. Even then you may not have enough money but make sure you have an in state option.
Non-superscored is 30, but a couple of the selective schools do superscore.
I am either average or slightly below average in most of the selective schools(except for Duke and UMich). I have friends who used to work in admissions, and they have told me that ACT scores are simply a check on a box. If your ACT is above a certain level, then you will be considered based on the rest of your application. The rest of my application happens to be what I am most confident of.
College Confidential is KNOWN for putting way too much emphasis on people’s scores, and not nearly enough emphasis on real world experience.
Anyway…I know I cannot borrow that much money by myself, but I am going to pay for it by myself.
Yes but it is in AZ, and I wish to be outside of AZ.
My EFC=013919
Re #90
What does each school’s net price calculator say?
You’re convinced you can pay off $160k in 4 years, but you don’t think parents can save up $100k in 18 years. Do you see the contradiction? Most kids go in-state or if they go OOS or private, they get enough aid to bring the price close to that of the in-state flagship.
I get it. BUT 1. it’s Flagstaff which is totally different than us flatlanders and 2. You may be choosing between that and nothing you can afford. So. It’s worth having options.
As an Az person myself I will say that I have always thought NAU would be the funnest place to go to college here. 4 seasons. Up north. College town.
That’s why so many kids go to CCs for 2 years and then transfer in-state. I really don’t think there are lots of people taking out $160K in loans for undergrad.
Yes…if they cosign…they will bear the responsibility for repaying these loans if you can’t…for any reason.
Don’t forget interest. Unless loan is subsidized it begins accruing interest immediately from what I understand even if you don’t have to start paying back until graduation. (Correct me if wrong!) so if you borrow 40k/year, you don’t just owe 160k.
How do families do it? They send kids to in-state schools (move away after college) or they start at community college or they live at home and commute or combination. They apply to schools where stats put them in top 25% of applicants to increase chance of money. They use any in-state perks.
For instance in SC residents with at least B average get 5k a year for college, top students get more. If choose starting at community college that 5k covers it for those years. State flagship is around 11k for tuition for instate. If you can commute and get the 5k a year you get down to an amount to could actually pay as you go. But it won’t be your dream OOS school…it will however get you an education without debt. Or you obviously can be so smart you get a full ride but that’s a long shot.
As someone who grew up in upstate New York, I love copious amounts of snow & ice, which AZ just can’t offer. I’m not happy in the climate of Arizona, and location played almost as large a role in my college selection as academic rigor.
@EveryoneElse
Well, it seems I have been mistaken. I always thought that people graduate from highschool, and then immediately attend the best university that they are accepted into. This is the first I’ve heard of people going to a CC and then transferring halfway through.
I think my best bet is to cosign with my parents, and then pay it off after graduation(hopefully on a subsidized loan)