<p>Hello!</p>
<p>I'm currently a prospective student thinking about attending Tulane. I've seen numerous threads like mine, but feel the need to explain my situation in order to get some possible advice. So here's my current situation and I was wondering if anyone could help me in figuring out how I'm going to pay for such an amazing school (I'm the oldest so my parents have never gone through this process before):</p>
<p>Total Cost of Tulane: $61,166 per year * 4 $244,644
Merit Scholarship: $25,000 per year * 4 -$100,000
Federal Loan:
$5500 first year
$6500 second year
$7500 third and fourth year -$27,000
In-State (TOPS) -$14,544</p>
<h2>Family Contribution -$75,000</h2>
<p>Grand Total: $ 28100
Grand Total / 4 years $ 7025</p>
<p>I have no clue where to come up with the $28100. I'm not including local scholarships because that may be $3000 here or there. My parents have expressed that they don't want to take out private loans. Will working in the summer/during the year be able to cover this amount? Are private loans really that bad of an option? I'm just very new to all this, and could appreciate any advice. I'm getting very stressed because I really love Tulane and would hope to be able to attend. Thanks!</p>
<p>So I am assuming you already submitted the FAFSA and CSS and this is the need based aid package Tulane offered? Or are you making certain assumptions?</p>
<p>Yes I visited with the Financial Aid Office today. As of now, this is exactly what I’m working with.</p>
<p>OK, that helps to know. Are you certain they are not offering you any need based grant money?</p>
<p>You are obviously including living in the dorm as part of the expenses. As a New Orleans resident, you do have the option of living at home. Obviously you don’t want to and I personally think that is not a good idea, but I would be remiss to not mention it since it would save you over $7500 a year most likely, or at least close.</p>
<p>Otherwise, it is hard to come up with where you might come up with that money. Having a summer job and a part-time job during the school year would get you about that much, possibly, or at least close. Otherwise there is little choice but to take out private loans or to go to LSU or some other less expensive option.</p>
<p>I feel your pain, and have wondered myself.</p>
<p>Private loans of $28k in your name if you can get them I think would be quite with it. Graduating from TU with under $60k total is high value for you. One piece of math you didn’t count for however is the fact that costs are still going up about $1.5-$2k per year, so you will incur about $6k more than you noted for the last 3 year’s increases.</p>
<p>If you are already 18 years old, you can go online and see what any major bank would lend you. With and without a parent cosignature (also lowers interest rate) Best of luck.</p>