<p>OP…you have another thread about disrespect to your parents. Do you think this disrespect might be contributing to their lack of desire to help you pay for college? </p>
<p>Many folks get jobs, share apartments with friends (or rent rooms in a house) and work to save money for college. Some attend college part time for many years. </p>
<p>NOT every child has the four year…residential college experience. </p>
<p>You may need to readjust your expectations.</p>
<p>@mom2collegekids Yes that’s what I’m saying. I’m not allowed to live at home come August this year no matter what. Also in regards to the state school, the problem isn’t just funding, it is about if they have space and that fact that I have already completely enrolled in the private one already. </p>
<p>@thumper1 Not really if you read that thread completely you would understand there is a pattern to their behavior, this should have been expected. My main problem with that plan is that going the pre-med path while switching around is really difficult. </p>
<p>@Everyone I had a heart to heart talk with my parents (individually). I learned my dad’s credit is much better than I thought (not perfect but still good). He agreed to cosign and wants me to just go head with this year since we went through all the trouble to get to this point. During the year I’m going to look for scholarships and stuff and then decided if next year if affordable or not.
My mom agreed to use the PLUS, she doesn’t want to put the money on me first year, after than probably. </p>
<p>I’m probably going to go with my Dad’s plan. Thank you all for your advice though. Thank you :)</p>
<p>“During the year I’m going to look for scholarships and stuff and then decided if next year if affordable or not.”</p>
<p>The problem with that plan, is that there are almost no scholarships for returning students other than the small ones offered by the college/university itself or through your own major department. If this year is unaffordable, next year will be unaffordable too.</p>
<p>If you and your father decide to go the co-signed route, on your way to the bank to arrange that loan stop off at his insurance agent’s office and take out term life insurance on each other so that the loan can be paid off if anything terrible happens to the other one of you. Remember: co-signed loans are on both of your credit records until paid off or until both of you are dead. There are many sad cases of parents (and even grand parents) paying off co-signed loans for students who have died before earning one cent.</p>
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<p>An example, see [Grieving</a> Father Struggles to Pay Dead Son?s Student Loans - ProPublica](<a href=“http://www.propublica.org/article/grieving-father-struggles-to-pay-dead-sons-student-loans]Grieving”>http://www.propublica.org/article/grieving-father-struggles-to-pay-dead-sons-student-loans)
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<p>There are many sad cases of parents (and even grand parents) paying off co-signed loans for students who have died before earning one cent.</p>
<p>Oh yes. There is a student on this forum whose older sister “disappeared” (the boyfriend is suspected). The family is devastated by her disappearance, but to rub salt in the wounds, they have to pay for her co-signed student loans…which they cannot afford.</p>
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Never said I believed next year would be affordable. I already got it in mind that I’m probably going to have to transfer next year. </p>
<p>On the life insurance thing…yeah I would rather not bring that up. I’m pretty sure we both already have it though. Real sure actually…</p>
<p>If you are already planning now to transfer in a year, then maybe you shouldn’t be starting college this fall. Financial aid for transfers is rarely as good as it is for freshmen. Affordability clearly is an issue for your family. Talk the “wait a year” option over again with both of your parents. Yes, you don’t want to do it. But realistically, it may be your very best option.</p>
<p>As for life insurance: you need a policy on your co-signer, and you co-signer needs one on you, for the amount of the loan. If the beneficiary is someone else, that person can walk off with the money and the surviving co-signer can be stuck with the debt. So, double-check the beneficiaries.</p>
<p>Thank you everyone for the advice, however it is very objective. At this point, due to all the time and effort spent just getting to this point and enrolling in this school there is no way my parents nor I would agree to the gap year. The state school’s tuition in itself is affordable for us. All I am doing is doing down a path, I really don’t like the transfer game so I’m going to do my best to stay in this school and I’m going to act like I’m going to be in this school no matter what next year. With that said, however, I understand that the probability of me actually going through with that plan and finding the money to stay is pretty low. I don’t back down though, I’m determined to make this happen against all odds. </p>
<p>Sorry if this seems like I’m turning against everyone’s advice. You all helped me understand how bad this school can be for me and encouraged me to talk to my parents about it. I’m extremely grateful for everyone’s advice. Thank you all :)</p>
<p>Good luck, Zombie. I knew a student in a similar situation. He and his parents took on substantial debt to attend a private college. They couldn’t do it for the second year, so he ended up transferring to a state university. He did well academically in both schools, and graduated from the state university with honors. The dismaying thing about all that first year debt, was that he paid (and will be paying it off in the future for some time to come) for an expensive school from which he did not receive his degree. Wouldn’t it have made more sense for him to go to the state univ. for a couple years and then transfer to the private that he perceived as more prestigious and actually gotten his degree from there?</p>
<p>You are set on a path, and I wish you luck in it. I’m glad you’ve come to an understanding with your parents. I think it’s good though that you look at this realistically, and it seems you are open to that.</p>
<p>Just one question. You keep saying you have “completely enrolled” in this private school. What does that mean? You paid the initial deposits for housing and a “seat” in the class, right? Beyond that, have you paid the first tuition bill? If not, you really haven’t committed much,a nd you have the right to go elsewhere. You would lose those deposits, but that is a lot less money than what you will lose taking out loans to attend a school you can’t afford only for one year and then having to transfer anyway. I think you want to make it sound like you are in too deep, but unless you have already started classes, and the first week has gone by, you can still get tuition refunded and go elsewhere.</p>
<p>I’ve made so many deals and arrangements with everyone I feel so messed up if I just leave. Plus there was some summer assignments for some of my classes and I’ve already completed them and talked to my professors about them. Either way, only time will tell. State school is done with this class and I don’t have time to start from step 1 again.</p>
<p>^even in this case, you are not in so deep that you cannot make the choice to forfeit your enrollment deposit and unenroll for the fall. </p>
<p>I am not saying that is what you should do, just that bit is a viable option that could save you LOTS of money in the long run, and allow you to either try to enroll at the state school for the fall, at a community college, or take a gap year and reapply to a list of schools where you may qualify for significant merit money.</p>
<p>You do not owe anyone at this university your attendance. Every single year students don’t turn up fior registration in the fall for any number of reasons.</p>
<p>A simple note to the professors you have been corresponding with will suffice:</p>
<p>"Dear Professor X,
Due to unexpected financial conditions, I will not be enrolling at your university this fall. I have enjoyed the summer work immensely, and wish to express my sincere appreciation for your kind efforts on my part this summer.</p>
<p>Best regards,
Zombie"</p>
<p>Exactly.</p>
<p>You don’t owe anyone at this school your attendance. As a matter of fact, if you were to go and run up that debt, when it came time to pay it back, you’d be smacking yourself for letting your “feelings of obligation” pressure you into taking out ridiculous debt.</p>
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“All the time and trouble” is nothing compared to what you and your parents will go through to pay off the unnecessary loans.</p>
<p>I understand you are attached to the private school and the professors there. However, next year or the year after when your family absolutely cannot borrow anymore money to make this happen, the school’s bursar’s office will not be friendly about helping you to attend. They will not allow you to enroll, will not help you find a way to make it happen, and if you owe money, will not release your transcript so you can transfer to that affordable state school. If you are not enrolled in school, your loans will come due and how will you and your family afford the payments then?</p>
<p>You will find out very quickly how kind everyone is and accommodating when you shut off the money faucet. Right now you are PAYING to go to the school. Loans are all future payments that you have to make at a premium that the school and all those in it are living off of RIGHT NOW. So of course , they are very good to paying customers.</p>
<p>If you and your family cannot pay for this school with a reasonable amount in loans, and by “reasonable” I mean the Student Direct Loan amounts, you really should take a leave of absence and find a local college that you can afford with that loan amount, and look for some part time work to defray the rest of the cost. </p>
<p>If this wonderful school and those working there can help you come up with Grants, not loans but grants to pay for going there, that is a whole other story. Let them know your plight and see what they can come up with for you. But I suggest you look for other options while you wait for their responses.</p>