<p>Your parents are being realistic about their long-term financial situation. Thank them for this. </p>
<p>You need to talk with your parents very specifically about the amount of money that is available for your education. If they haven’t already run some of the EFC calculators, have them do so. There are good ones at [College</a> Calculators - savings calculators - college costs, loans](<a href=“College Board - SAT, AP, College Search and Admission Tools”>Calculate Your Cost – BigFuture | College Board) and at [FinAid</a>! Financial Aid, College Scholarships and Student Loans](<a href=“http://www.finaid.org%5DFinAid”>http://www.finaid.org) Ask your parents how much student debt they are willing for you to take on, and talk with them about how much money they expect you to make for your expenses by working during the school year and summer vacations. Until you know about your individual financial situation, you can’t start to make realistic plans for your future.</p>
<p>There is a lot of good information to be found in the Financial Aid Forum and in the Parents Forum about merit-based and need-based aid. Take a bit of time to read through some of the threads in those two forums.</p>