So my parents are divorced and neither parent will pay anything out of pocket for college. I could manage to meet the EFC with government loans, savings and 529 for my Custodial Parent(17k). However, I could for my non-custodial parent of around whose EFC is 12k. I know for a fact that neither will pay anything extra, neither will co-sign private student loans and neither has good enough credit anyways.
I really, really, really, really, really, really, really, really, really DO NOT want to go to any of the schools in my state, the best school in my states culture is just so far from what is ideal. All the people I know who are alumni are all around the people who I try to avoid and I know a lot of them. I also know professors from this school once again people who I try to avoid. I also have visited the school many times and it just rubs me the wrong way. I am not trying to hate on them or the school but it is just not where I should go if I want to have some sort of mental stability.
I will also possibly be applying to college during a gap year.
Is there a way to find other student loans without a cosigner or a credit score?
I am not really informed about student loans but it seems that a lot of people have them but I don’t know where they are getting them from outside of the government.
I wanted to apply ED to my dream school (which says the meet 100% of “demonstrated need”), l but I don’t know if that is wise.
I don’t think you have computed your ‘EFC’ correctly. Your NCP doesn’t get a separate EFC. YOU get an EFC after filing FAFSA using the income and assets of your custodial parent. All that gives you is a picture of the federal aid you will get (Pell and the student loans). You don’t even know if the loans are subsidized until a school gives you a financial aid package.
Your parents have given you a budget (your 529 and no other money?) and you have to live within that. There are inexpensive schools in other states (S. Dakota, Missouri, Wyoming) but those might not be what you want either.
If you take a gap year you can establish a credit score (you probably have one now, it’s just not very high), but that won’t get you a loan without co-signers. To get a loan, you need to have income to pay back the loan
If you have run FAFSA calculations for both the custodial and non-custodial parents, and the figure is significantly lower with the non-custodial’s figures, you could consider taking a gap year and living with that formerly non-custodial parent enough days so the that parent becomes your custodial parend for financial aid purposes. During a gap year you could save some money toward your future college expenses, re-take the ACT/SAT in the hope of raising your test scores, and devise an entirely new application list focused on affordability.
Then…you will need to find a full ride at an OOS college…and that is NEVER a slam dunk. NEVER.
It’s not wise! You have very significant financial constraints. VERY SIGNIFICANT. That being the case, you need to cast a broad net and hope for nearly a full ride someplace. Since you can’t count on your parents…and you WILL need to include at least your custodial parent…you need to look for very very substantial merit awards.
Your dream school WILL expect your parents to pay their family contribution every single year. In addition, most colleges that meet full need are very costly.
Apply regular decision…so you will have options to compare.
So…what is your SAT or ACT score. What is your GPA?
And I’m going to say this too…drop the “dream school” idea. Your dream should be to find a college that you can afford to attend, not some expensive dream school with little chance of being able to pay for four full years of study all by yourself.
And that might just be instate. Maryland is your instate option. You know…you just might get enough merit aid to make UMD-CP affordable. I found your stats on another thread…they are fine. But no one is a slam dunk for admissions to those elite schools…and I’m going to repeat…your family WILL be expected to pay their family contribution.
I’m going to eyeroll at a student who can’t find a desirable in state option in MD. There are states where I could sympathize, but MD isn’t one of them. Cut out the drama. Attend one of your strong in state publics.
What do you want to study in college? Which of the public universities in Maryland offer that major? That place is your safety if the CC where you are dual-enrolled has an articulation agreement. You could conceivably finish your bachelor degree in two years since you expect to have completed your AA along with your HS diploma. Then you could get out of Maryland and get on with your life. Think about that option too.
OP- I promise you- your adult life is going to be filled with people who grew up in various places and went to a local college, then got the heck out of dodge, never to return (except for Thanksgiving). And you can be one of them. Figure out the best possible option for you in Maryland, work your tail off, and get a job someplace else where you will be surrounded by people who did the exact same thing you did- they left Omaha for Chicago, or they left Chicago for SF, or LA for Boston, or Dayton to Atlanta. There are the people who leave rural Vermont for NYC, or the people who grow up in NYC who high tail it to Vermont. You are focused on the wrong things here.
It stinks that your finances are going to dictate where you go to college and it stinks that your parents can’t help you. But that makes you like thousands and thousands of other high school kids, and can be a powerful motivator for you to overcome the financial limitations and do really, really well in college.
Big hug. And do not apply ED. When the college says it meets full need, it means that your parents will be expected to pay something commensurate with their incomes and assets, which is likely not zero. So if they are planning to pay zero, you will NOT be able to afford even the most generous college, even with your loan, even with working part time and summers.
So take the time you’ve spent pining after schools you can’t afford, and figure out which of the MD options make the most sense for you based on what you want to study. And I promise you that you will meet inspiring professors wherever you go.