Paying for private college w/o loans?

<p>Hi,</p>

<p>It seems likely (though it's not certain yet, and I don't want to count my eggheads before they crack :-) ), that I might be accepted to Emerson College in Boston for the fall of this year. If I am accepted, I absolutely plan on going, but of course, it's a private college and the $$$ is way more than anyone "regular" could afford out of pocket. I'm 24 and filed the FAFSA independently (EFC = $0), which means I'm eligible for the max amount of the national Pell Grant and the in-state "MassGrant" as well. But that's only a drop in the bucket for a ~$40K college; if I don't get any of the scholarships I've applied for, I'm either SOL and will have to attend a state school (not being snobbish, but none really have the focus on creativity in liberal arts like Emerson does), or take out a substantial student loan that I'd most likely be paying off until I die, or the world ends, whichever comes first :-( (And longevity runs in my family -- well in upwards of 80 years! -- just so you know.) I've never held a job, and it's not likely I ever will, due to chronic anxiety that prevents me from working; however, I refuse to be "on welfare" for the rest of my life (I did apply for SSI/SSDI in the past, and after some time, was accepted, but turned it down because it's just "not me" to be on the dole). </p>

<p>I really would be miserable going to a state school, and none are really a good fit, but my parents are in way over their heads paying for renovations on my/our house (we had severe flooding in New England a year ago, and the house is old and wasn't well-built to begin with, so we're still trying to put things back together again...hey, there's Humpty Dumpty, the original cracked egghead ;-) ). So there's no way they can pay; I can't do work study (again, because I can't work); I'm really going for the study of creativity, and the networking aspect rather than potential "career" applications; anyone familiar with the poem "A Dream Deferred" (if not, Google it), or anyone who can get the basic gist of the title, should be able to recognize why I can't let go of my aspirations or put them off :-( </p>

<p>Any advice? They do offer a payment plan (i.e. month-by-month), but I mean, ~$40K is like an above-average car, and was the price of a house, by God, about 30-40 years ago! I can't receive grants if I default on loans; would the payment plan be a little easier to manage, and if so, how to convince the 'rents to be paying for my..."rent," so that I can go to a school for creative professionals (not just boring, stuffy, wannabe English professors, which I don't "wannabe"), and maybe write the next..."Rent"? :-)</p>

<p>Emerson is not a school that tends to meet full need, particularly with grants, and there are not all that many huge merit awards to pay that kind of bill. If you have issues about working, and have not been successful in getting a paying job, taking out loans is going to be very dangerous for you since you will have to make money to repay them. Unless your parents or other relatives decide to lend you the money to go to school, the prospects do not look good to me for you getting a big chunk of money.</p>

<p>Your best bet is to take the PELL money and find a program that you can afford with that and the Mass grant. It is a serious commitment to take on the amount of loans a private college education complete with room and board costs.</p>

<p>Borrowing that much is likely impossible–unless you have a co-signer with excellent credit, it’s hard to imagine any lender that would provide you with the sums you’d need, since you have no income, no job history, and no plans for a career that would allow for repayment. Time for Plan B. Please also seriously consider whether chronic anxiety so severe that you are unable to work will not also be an obstacle to the demands of a college curriculum and lifestyle.</p>

<p>*I really would be miserable going to a state school, *</p>

<p>You’ll only be miserable if you tell yourself you will be.</p>