<p>i'm a high school senior and still haven't committed, i've gotten into boston college, tulane (honors), mcgill, university of washington, usc (honors), and berkeley. i really want to go to berkeley but the overall price comes in at about 53,000 (it's the housing costs that kill me, tuitions only about 35k). my parents have only offered to pay 33k a year (as much as it costs to go to u of illinois, in state). they're afraid to cosign a loan because apparently it'll lower their credit score and i was wondering if anyone knows more about the real risks of cosigning a loan, or if anyone else is facing this problem and has a solution? thanks a lot</p>
<p>Kind of late for a reply, but oh well. I had my Mom cosign a loan for me, with the promise that I would pay for it every month. If you don’t pay for it on time, your cosigner’s score will go down. However, if you’re responsible and can afford to pay it back, it won’t have an effect on them. Also, it will help you build credit so that you won’t necessarily need a cosigner in the future. </p>
<p>My parents told me I was on my own with paying for everything, but they were happy to cosign for me. Luckily I was able to get a nice grant from cal, so I only have to pay about twenty thousand a year.</p>
<p>@jumpingjulia, i have about 25000/yr in loans for berkeley and there arent many out-of-state students I now going to UCB. Any advice on how to reduce cost amount for my next three years there (living off campus, etc). I already have the maximum amount of work study offered but i doubt my parents can pay for even a margin of the cost.
Any advice AT ALL would be really appreciated :)
Thanks!</p>