<p>IDK,our school seems to have a lot of discretion over how much grant money they award, and you could imagine all kinds of things going into their decision. Also FAFSA does not incorporate the value of the family home or retirement accounts or grandparental contributions which the college may not know you have. </p>
<p>Often, though, those scholarship offers (talent and/or academic merit aid) are extended before the school ever sees a FAFSA. </p>
<p>Many schools use CSS for the reason Jkellynj17 describes–it gives a better picture of overall finances. But I agree, there is a gigantic difference between $20K and $200K. One is possible, the other is not!</p>
<p>There are also some loan forgiveness provisions to Stafford loans that don’t exist in the commercial market. </p>
<p>How do kids pay for NYU if parent won’t pay? Can they get loans for 200K?</p>
<p>I don’t think they can. No one is going to make an unsecured loan to an 18-year old for $200,000. </p>
<p>Probably, they would start with smaller loans and scramble to find enough money from semester to semester eventually not returning to school. I do know of one such student. He is now attending an online college and working at Starbucks. </p>
<p>this is driving me crazy!!! My son is waiting to hear from Pace… they are notifying MT and film and screen, but we’ve not heard anything for BFA acting. Every day that goes by it gets harder and harder to have not heard from any of his top choice schools. I’m feeling the pressure of helping him visit a school if need be but with NO INFORMATION, it’s impossible to move forward. The date for the campus visits keeps creeping closer though and the prices for airline tickets keeps creeping up… </p>
<p>I know what you mean…we are traveling the week of March 24th to NYC and would love to know if we need to make a trip to Boston or not…</p>
<p>Yes, it’s parents who take Plus Loans. </p>
<p>@Jekllynh17, I noticed this year’s FAFSA did require you to report gifts from grandparents. The interest rate on Plus Loans has dropped a lot recently, by the way. When my oldest daughter started in 2003 I think they were below 5% (I should check that) but they went up to 7.9% when my middle daughters were starting. Now I think they are 6.1%. When they were 7.9 we remortgaged our house to pay them off, which will save a lot over the years. </p>
<p>FAFSA does not ask about your debt. But you can write a letter to the FA office and explain it. Some schools will not budge, but many will reconsider if you lay out your circumstances. </p>
<p>In my opinion, no student should be making a decision which will result in $200,000 in debt, and probably least of all, one planning a career in the theatre. There is no way, even if they were able to secure that amount in loans, that they could ever make the monthly payments through performing. It just wouldn’t, and couldn’t, happen. </p>
<p>Students at NYU who come from families with financial need do receive aid, although it can come in various forms. Many have parents who pay their costs, and many others have parents taking out loans to pay the difference between what is offered in aid and what the costs are. </p>
<p>As others have said, it’s always wise to wait and see what aid your student is offered prior to making a final decision.</p>
<p>@glassharmonica, you’re undoubtedly right. I haven’t really looked at PLUS loans since last year. My problem with PLUS loans is that they make it so easy, and I don’t think people realize what the monthly payments will be. $20,000 is like a car loan, not ideal, but not insurmountable either. Has anyone had any experience paying down Stafford loans while your kid is still in school? I’m getting a tax refund and I wouldn’t mind knocking his balance down a little, especially off the unsubsidized one. Who do you have to contact and/or send a check to?</p>
<p>^That’s an interesting question, and one that might be worth seeking advice about before you proceed. One thing my daughter found when she started paying off her school loans was that it helped her to establish a credit rating. I wonder if it’d be a better use of your tax refund to invest it in a way that your son could have a jumpstart on paying his loans off when he graduates? Or just to set aside for the coming year’s tuition so that he has to borrow less? I don’t know the answer, just think there are probably a variety of options and somebody out there can probably advise you on the best thing to do. By the way, the loan info has always been sent directly to my kids, but at their home address.</p>
<p>That’s the problem. I don’t even know who the servicer is. We do have a college fund, and I could put it in there. I’ve just always hated owing money. </p>
<p>The subsidized loans are a pretty low rate, so it might be better to put that money forward into tuition.</p>
<p>Just got my rejection letter from Ball State.
I knew I wasn’t accepted because everyone got their calls last week. It’s ok, I wasn’t head over heels with it anyways.</p>
<p>So sorry. Good luck with the rest of them. </p>
<p>I am sorry, nomester. Even when expecting the letters, they are still hard to read.</p>
<p>Needing some good news so here is some (not acceptance related 
My daughter will be turning 18 while we are on our trip to NYC. This trip is what she wanted for her birthday. Our friend told me yesterday that she got her tickets to see Phantom and Les Mis and back stage tours of both!!! My daughter is going to die… </p>