Not even sure anymore what to do.

<p>I intended to transfer to UT Austin this fall, and I was just absolutely counting on merit-based scholarships and grants to make attendance possible. I honestly didn't want to take out any loans to finance my undergrad. Well, I finally got my aid package yesterday (yes, in June) and I got $0.00 in scholarships. I'm not sure what to say or do anymore. I'm officially shut out of affordable choices this fall. </p>

<p>I'm a Texas resident, intend to major in engineering and my GPA is 4.00. What can I even do? I have money saved up but not nearly enough. Pretty much going to any public university in-state, I'm going to come out with over $50,000 in debt.</p>

<p>I've gone to speak with transfer adviser after transfer adviser for what I can do for scholarships and it's just literally falling apart here at the end. I've read all the guides here on CC that I can about financial aid, but pretty much all guides apply to high school seniors about to go into their freshman year of college. That doesn't exactly help me anymore. I've even read a lot of the transfer guides and from what I understand, financial aid for transfers is grim. I'm lost. Stuck. Any ideas?</p>

<p>is there a tx public univ that you can commute to?</p>

<p>it sounds like your efc is too high for aid…what is it? are your parents paying for any costs?</p>

<p>My EFC is closer to around 22,000. I would say the nearest university that I could commute to would be two hours away. And I asked my family two years ago if they could help with university costs. They had to calmly sit down with me and explain to me that it was either scholarships or loans. That there was no way we could afford to send me to college ourselves. Thus I tried my hardest in high school to get scholarships. I ran into this same predicament back then. Here we are now, same thing.</p>

<p>We have a high EFC but my family has a major financial obligation that we ethically cannot drop. Theoretically if we dropped that one expense, we could pay for my college education, but unfortunately it’s unethical to do so.</p>

<p>Have you thought of going to a community college, doing all your general education, and prerequisites and then you can transfer? You’ll still be spending some money but at least you won’t have your debt up to your eyeballs Some colleges have merit based need scholarships, I would look into those. You can find that information on their websites.</p>

<p>50K in debt is a bit high, but serviceable if you get an job as an engineer. You’d avoided the weed-out classes at a big public, and you aced all the preparatory stuff, so you should be well-prepared for engineering. You’re also past the point where kids suddenly have a change of heart on majors and you’re clearly motivated, so you’re very likely to graduate with an engineering degree. I say that betting on yourself is worthwhile. What engineering major, BTW?</p>

<p>Also, when does the family’s major financial obligation end? Does it end?</p>

<p>Oh, and can you still apply elsewhere? South Dakota Mines is pretty cheap even for OOS. Still, you’d have to carry a decent amount of loans.</p>

<p>West Texas A&M seems really, really cheap. You definitely wouldn’t have to carry 50K of loans if you go there for 2 years. Limited number of engineering majors, though.</p>

<p>Personally, I think 50K in loans is fine if you’re smart and motivated (which you definitely seem to be) and going in to engineering. </p>

<p>Also, going to UT-Austin in engineering should give you opportunities. They’re one of the top publics around and well-respected in TX.</p>

<p>Also, many federal loans can be income-based now:</p>

<p><a href=“https://studentaid.ed.gov/repay-loans/understand/plans/income-based”>https://studentaid.ed.gov/repay-loans/understand/plans/income-based&lt;/a&gt;&lt;/p&gt;

<p>In fact, while education loans are generally non-dischargable (the income-based ones may be forgiven after 25 years), there are actually many options if, God forbid, you graduate and are unemployed:</p>

<p><a href=“How to Get Rid of Student Loans | Nolo”>http://www.nolo.com/legal-encyclopedia/how-get-out-student-loan-debt.html&lt;/a&gt;&lt;/p&gt;

<p>“A deferment excuses you from making student loan payments for a set period of time because of a specific condition in your life – such as returning to school, economic hardship, or unemployment. Interest will not accrue on subsidized loans during the deferment period.”</p>

<p>Federal loans at these amounts just aren’t that scary for an engineer. Plus, as someone who has carried (and continues to carry) a Stafford which I am in no hurry to repay, I can tell you that if you pay on time every month, the interest eventually goes down. The interest on my Stafford loans now are essentially nothing (< 1% a year).</p>

<p>This is when diversifying your application should could have been helpful. That is applying to other affordable public schools in Texas and private schools known to offer great financial help in or out of Texas.</p>

<p>This student has a big problem that he had an unaffordable EFC. Applying to pricey privates that give good aid wont work because he will still have the uncovered family contribution.</p>

<p>it is too bad this student didnt apply to schools that give great merit to incoming frosh…those awards would have been for all four years…he may have been able to get huge merit from Texas Tech, LA Tech, Alabama, Miss State, etc.</p>

<p>Merit for transfers is rarely ever good enough to overcome an unaffordable efc.</p>

<p>I know that you have already gone to a CC, but are you a rising soph or junior? If you are a rising soph, then go to the cc another year. if you are a rising junior, then ask UT if you can delay enrollment for a year and earn some more money. (You need to make sure that you can finish at a univ in 2 years)</p>

<p>You have $25k saved. If you could save another $15k or so while taking a gap year, you might be able to squeeze by with that money plus 7500 loans each year. </p>

<p>If you do take a gap year, also apply to TAMU and Texas tech. They may have some merit or lower COAs. a few thousand dollars at a cheaper school can make a difference. Companies will recruit from all three and WILL PAY each new-hire THE SAME WAGE…SO NO BONUS SALARY FOR GOING TO UT…AT ALL.</p>

<p>

You could borrow up to $15,000 in Direct Loans. Your parents can borrow the remaining $35,000.

In an ideal world, yes; but …</p>

<br>

<br>

<p>???</p>

<p>why is that? You have $25k saved. You need to transfer when you know that you can complete in 2 years. </p>

<p>I really dont believe that your parents cant contribute one red cent. they may not be able to pay their EFC, but with Tuition Credits on their taxes, and the savings from not having you at home, they should be able to contribute a couple hundred a month. you need to sit down and talk to them about that.</p>

<p>Go back and look at the tuition costs at all the Texas publics with accredited engg. also check their transfer scholarships for engg students. There are tuitions that are lower than UTs. </p>

<p>I suspect that the ethical obligation is sending money to a relative(s). If so, then they need to consider cutting back that support a bit, or figure out a way to earn more money so that this obligation (no matter what it is) doesn’t prevent them from paying anything at all.</p>

<p>tech tech transfer scholarships
<a href=“http://www.financialaid.ttu.edu/forms/sch/TransferSP14.pdf”>http://www.financialaid.ttu.edu/forms/sch/TransferSP14.pdf&lt;/a&gt;&lt;/p&gt;

<p>I wish you had posted here months ago. we would have told you that UT merit was unlikely (UT has moved away from merit)</p>

<p>

That is American Opportunity Tax Credit (AOTC) See <a href=“You Can Get $10,000 Per Child In College Tax Credits, Thanks To The Fiscal Cliff Deal”>http://www.forbes.com/sites/troyonink/2013/01/16/american-opportunity-tax-credit-pay-for-college-and-pay-less-tax/&lt;/a&gt;&lt;/p&gt;

<p>^^^</p>

<p>thanks…couldnt remember exactly what it is called. from the EFC, it sounds like the family would still qualify.</p>

<p>Well, here is my predicament that led to this whole ordeal…</p>

<p>The financial obligation is that we have a family member who is severely disabled and cannot care for herself. Ordinarily, you would assume she’d get disability pay or the government would provide financial assistance. Because of a careless clerical error on her part, she accidentally underreported her income and was caught. Thus, the government rescinded all financial assistance to her. We’ve tried appealing multiple times, but have been unsuccessful. Well, my parents are too nice and so they decided to pay for ALL of her expenses themselves. This includes apartment, cable, water, food, etc… It also doesn’t help that rent has skyrocketed in our area because of the oil boom here. So why doesn’t she just live with us to save money? We tried that several times but simply put, she’s an absolute handful and she and my parents DON’T get along. We spend probably $1,500 on her each month. </p>

<p>I do have $27,000 saved up thankfully. But the problem is that the degree track for engineering has me bottlenecked where I can only complete a degree in engineering in a minimum of three years instead of the two like I would hope. I suppose what I could do is attend UT Austin anyway and just pray that I can apply for scholarships while I am there, but I don’t like the uncertainty in going and still running into this stall-out at the end of this fall. </p>

<p>I did try applying to a few schools back when I was in high school, but again back then I didn’t have money to attend. I couldn’t apply to many because application fees were very expensive and we didn’t qualify for application fee waivers. I got a few top 10% scholarships, but nothing significant. And back then, I had probably $5 saved up. Lol.</p>

<p>I did apply to Texas Tech and got accepted for this fall, but I didn’t accept their offer because advisors kept telling me that I definitely would get a better offer from UT. Sadly, I think that might have been a bad assumption. </p>

<p>I am just hesitant to take a gap year because who’s to say that I won’t fall into this same trap next year? I probably wouldn’t have trouble finding a job either, I just don’t know if I can find a high-enough paying job to help pay off loans once I graduate.</p>

<p>I really do appreciate the help you guys are offering. People might and probably do call me crazy for letting strangers on the internet help me with this horrible college mess, but I just thought I would get a little insight from other people who might have more experience with this before I make a hasty decision.</p>

<p>

</p>

<p>Do not assume that this will work out. Odds are very, very small that it would. Assume if you go that you will have the full burden of loans to pay back. One thing you could do is call Texas Tech now and ask if their offer is still available. If it was a better deal financially, then you should consider switching. You would lose your Austin deposit, but if the cost difference is substantial then it is worth it. Colleges often will say yes if you make this call now (early June), so get on it if Texas Tech was more manageable financially. Your "advisers’ who said you would get a better deal from Austin were off the mark, but you may be able to salvage that offer if you call.</p>

<p>Have you considered part-time work and school? It might be the only option at this point (especially if your parents aren’t willing to take out loans). Unfortunately, it doesn’t look like you’ll be able to avoid taking out loans entirely-- you’ll probably have to take out some loans.</p>

<p>You might also want to consider ‘smaller’ schools which would reduce your loan debt- Lamar University in Beaumont (which has a top-notch engineering program) has tuition pegged around $10k/yr. Add in room and board ($8k) and you’re looking at $18k/yr, for three years, which would be $54k, minus any savings you have. I have friends who went through that program who also received high-paying co-ops and internships that helped them offset costs.</p>

<p>UT Austin how you’re thinking about it (as a full-time student) without any loans and a $22k EFC is just not possible.</p>

<p>@mom2collegekids‌:</p>

<p>“If you do take a gap year, also apply to TAMU and Texas tech. They may have some merit or lower COAs. a few thousand dollars at a cheaper school can make a difference. Companies will recruit from all three and WILL PAY each new-hire THE SAME WAGE…SO NO BONUS SALARY FOR GOING TO UT…AT ALL.”</p>

<p>This is true for the same company, but a bit misleading as I certainly expect UT-Austin to attract more and better companies than, say, TTech. To put it another way, I’m almost certain that there are more companies who recruit at UT-Austin and not TTech than the other way around, and some of those are the companies with higher upside (management consulting, software startups, etc.)
That’s why knowing the engineering major the OP is considering is somewhat important. If it’s civil engineering, for instance, then you may be able to make the case that the OP would get just as good opportunities at TTech as at UT-Austin (I frankly don’t know), but if it’s anything computer-related, I’m 99% certain that there would be much better opportunities available to a UT-Austin grad than to a TTech grad.</p>

<p>To the OP: Yes, it too late to get big merit scholarships; it’s a pity that your parents or someone didn’t realize to tell you that a bunch of $50 application fees (and there are a bunch of schools with no app fees) can be a worthwhile investment for a kid with high stats when they can net you full-ride or full-tuition scholarships.
But the past is past.<br>
Going forward, look at my links about loans. Most federal loans aren’t as scary as you seem to think they are. What are you afraid of, exactly? Also, what types of loans are UT-Austin offering?</p>

<p>Still, it’s hard to let go just how valuable good advice during HS could have been for you. Your parents certainly could have cut off cable to the relative in order to fund your app fees, for instance. Also, “didn’t have money to attend” just doesn’t sound like a good reason in this day and age for a kid with high stats. Did your parents make less than they do now (though that would have meant more fin aid)? What advice did your HS guidance counselor give? Did he/she point you to schools that give large merit scholarships? Did you apply to UT-Austin from HS?</p>

<p>@PurpleTitan‌ @mom2collegekids‌ </p>

<p>Here’s a little back story as to what happened to me back in high school…</p>

<p>It’s not my intention to play the blame game here. What’s done is done and I unfortunately cannot take it back. My high school years were actually similar to my college years: I basically had straight As throughout high school. What probably caused my financial-aid downfall was the fact that I had extremely low SAT scores. I took the SAT once my junior year and once my senior year. My junior year, I was actually horribly sick and running late to the testing center that morning. (emphasis on horribly, not just a casual “I felt sick for 5 minutes so that means I’m going to miss the whole day”). My concentration was just absolutely shot throughout the test and I had to skip lots of questions. I ended up with an average score–one that got no merit scholarships anywhere. My junior year though, I didn’t understand how important the SAT was for merit aid. When I took the test again my senior year, it was June just like now and I was in a panic for merit aid since I wasn’t getting any from any of the schools I applied to. I was told by the universities that I applied to that if I could get a higher SAT score despite being so late in the summer, I would qualify for those merit scholarships and thus I would be able to attend those universities. I ended up taking the last SAT available in June until October that same year. I felt absolutely prepared for that exam. When I got to the testing center though, I ran into a little trouble with the test proctors. Before the exam started, one of the exam proctors came around to check our workspaces to make sure everything was in order. He got to my desk and noticed my calculator was totally different from any other calculator he’d ever seen. It was a new type of calculator which I was positive was allowed before I brought it to the testing center. Rather than privately and quietly discuss with me that he couldn’t allow me to use the calculator, he purposefully tried to belittle me in front of everyone in the testing room by yelling at me as loud as he could, saying “Did you even READ the directions for the SAT before you came here? Are you that stupid?” Not only was he incredibly rude about it, I was scared and heavily panicking at this point. All eyes in the testing room were on me and I was trying to tell him that my calculator was, in fact, approved and that he needed to check his list of approved calculators. He just continued to yell at me after that and I was just so frightened and scared, I didn’t know what to do. He then took up my calculator and I didn’t get to use it on the test. For the remainder of the morning, I absolutely could not concentrate during the exam at all. In between breaks, people were just giving me these disgusting looks and whispering in the background, “hah, that cheater got caught!” For the duration of the entire test, I was just sick to my stomach from how embarrassed I was. After the exam, I complained to collegeboard and weeks later, they ruled that I was right and the exam proctor was wrong. And they gave me two options: cancel my scores or release my scores. I didn’t know what to do at that point: fall semester was quickly approaching and I wasn’t any closer to getting any freshmen merit-aid scholarships. If I canceled my scores, I would not be able to take another SAT until October that year, thus forcing me to take a gap year. So I took a risk and decided to release my scores to see what they potentially were. They were worse than the first time I took the SAT. When I found that out, I didn’t know what to do. I reached out to family and friends for help/advice and they kept telling me, “Just go to community college, you’ll save so much money.” I was eventually contacted by my local community college with a full ride offer that summer. I had no other options at the time, so I decided to take it. I was in hopes that proving I can do well in community college would mean I would get even BIGGER scholarships if I could manage to get straight As and do even more extra-curriculars.</p>

<p>Here we are, two years later. I feel like I’m in a worse situation than I was back then. Like I said, I pretty much got straight As throughout high school. I had lots of shining letters of recommendation from my teachers for admissions panels and scholarship committees, and tons of extra-curriculars and prestigious awards. But the problem, in hind-sight, was the fact that if you have a bad SAT score, you’re not getting ANY money no matter how well you did in school.</p>

<p>I pretty much went through the entire college application process alone my senior year of high school. Family couldn’t/didn’t want to help. And it was tough to get an appointment with our college counselor at our school since she was usually booked two weeks in advance, thus you could usually only see her once every two weeks or so. This time around, I tried to make sure I didn’t go the entire college application process alone, asking faculty, friends, family, and advisors all for help. But it just apparently isn’t working out.</p>

<p>You can criticize me for the above story if you want, but there’s almost nothing that can be done now. I’ve tried my best to learn from my mistakes.</p>

<p>

No, most schools award fewer scholarships to transfer students.</p>