<p>Hey everyone i have some questions regarding financial aid for me as a potential transfer student. I'm currently on an athletic scholarship along with an in state grant for out of state students with some loans still. I want to transfer because the school is seriously not a fit in so many ways but my mother being the sole funder of my college believes that if i transfer i will lose the amount that the athletic department is giving me and not be able to afford another school. If i do in fact decide to transfer i will be "walking away from my college education" is how she puts it. So after saying that i want to know what can i do to ensure that i can afford a different college in terms of taking out loans if i do transfer? Are there private loans that are subsidized until after graduation that can be taken out from companies (ie Astrive) or other ways to get money to put to education short of getting a job which i dont have time for until the summer? I am sure i will receive athletic aid in some form wherever i choose because from my large list of schools i have been recruited by several so it just comes down to making up the difference of what my mother pays and what i can get from the school in terms of athletic and and grants. Any help/suggestions would be highly appreciated thanks.</p>
<p>Also, I know it sounds like i have a good situation financially where i am which i do but the school is borderline unbearable for me just in case anyone was wondering why i want to transfer.</p>
<p>“I am sure i will receive athletic aid in some form wherever i choose because from my large list of schools i have been recruited by several.”
Are you CURRENTLY being recruited by any college coaches?</p>
<p>Isn’t transferring as an athlete complicated? Isn’t there a period you need to sit out? And has your college athletic performance been such that other colleges will give you scholarships?</p>
<p>Approaching this by looking for loans is probably not your best bet. </p>
<p>Have you contacted coaches at colleges of interest to assess the chances of a scholarship? Do you have a co signer lined up for private loans? Have you run calculators to see what colleges will expect you to pay?</p>
<p>Unfortunately, especially as a transfer, money has to be where you start i determining where to look. You don’t want to graduate with huge loans. even moderate loans need to be weighed against what you can plan to make given your college and major.</p>
<p>I have gotten in contact with other coaches through my high school coach and many from my list have showed a great deal of interest but per NCAA rules they cant speak about more than their level of interest. Some have said they have low athletic funding which i have crossed off the list so the ones left presumably have funding. As for receiving aid it is very early in season so it is difficult to recruit off college performances so the coaches have been given my high school information.</p>
<p>Would my best bet to be just to decide to transfer (must be decided through a requested athletic release from the school so that i can be allowed to talk with other coaches/schools without losing athletic eligibility) and choose a school that suits me best with what kind of aid they offer? Also i assume my mother would be the co-signer depending on the loans offered/taken.</p>
<p>Also i assume my mother would be the co-signer depending on the loans offered/taken.</p>
<p>Considering that your mom isn’t happy about you leaving your present scholarship situation, I don’t think assuming that she’ll co-sign any loans is a good idea. </p>
<p>She may say, “no.”</p>
<p>She may agree for the first year, but then not qualify for any following years.</p>
<p>Co-signing loans will negatively affect her credit and her ability to borrow while your loan is outstanding (more than 10 years). </p>
<p>Your mom may need to get a loan in the near future (car loan, whatever), and she may not qualify since she’ll have your student loan as a liability.</p>
<p>Before you do anything. Find out how much you’d need to borrow for each year of your education and then ask your mom if she’ll co-sign. </p>
<p>If she agrees, be sure to look at how much your payments will be - and consider how much you’ll be likley earning at that point. </p>
<p>If you end up borrowing $50k, your monthly payments will be about $600 a month for 10 long years. That would be a huge burden during your 20s and early 30s.</p>