<p><<<
concern is what guarantee do you have that the philanthropist will loan you the money EACH year? What is the plan if he changes his mind?
<<<</p>
<p>excellent point!</p>
<p>this person could have a financial setback (business/investment loss, need to retire early, health issue) and suddenly not be able to lend for later years. You’d have a lot of debt and no degree.</p>
<p>take the gap year and re-apply.</p>
<p>Taking the other side of this for a moment…and I’m not advocating $60,000 in loans over 4 years…BUT, you do have a generous offer from this dad…<em>and</em> you may end up borrowing much less…perhaps you can get UT to come through with aid in later years…perhaps you can have good summer tech jobs…perhaps you can take off a year between sophomore and junior year, make money, and then return. When I went to college one million years ago, I had zero plans on how to pay for it. And, yes, i get it, college is incredibly more expensive. But I just started fall quarter and figured it out as I went…and my niece (at current dollars) is doing the same…she made it through freshman year & sophomore year…and will likely take a year off starting in August and working…but then back after that…</p>
<p>sorry, but that ^ is too risky.</p>
<p>the student needs to take a gap year and get the appropriate aid. </p>
<p>think about it…when it comes time to pay back those loans, the student will be annoyed realizing that if he had just delayed school by one year he wouldnt have those loans.</p>
<p>btw…how much were you also given in federal loans? is the private loan in addition to full federal loans?</p>
<p>I was given the full amount of federal loans (subsidized, unsubsidized).</p>
<p>And yes, I’d rather wait a year to reapply for UT (and for schools of similar or greater caliber that meet full need, eg. privates and potentially UVA and Ann Arbor).</p>
<p>See with your friend’s dad: will the zero-interest loan still be there if you apply for the Spring? For Fall 2015
(investigate both situations)?
Are you a permanent resident or a new citizen, or are you just considered “in-state” for Texas (ie., due to HS graduation)?</p>
<p>UT does not give much out overall. A&M is better known for helping financially in Texas.</p>
<p>Don’t go into much debt, if any. I’d recommend the gap year in your case.</p>
<p>Ask your friend’s dad to give you a job for a year.</p>
<p>OP, you have not answered any of my direct questions about your PARENTS’ residency, citizenship and the loophole that allows you to get in state tuition. </p>
<p>My guess is that the student is getting in state tuition due to Dream Act type loopholes. Though he is a citizen, provisions from that also pertain to him. I think that schools in states that are finding kids in that category are costing them unexpected amounts, are finding that they have to be very strict in deadline and when money runs out that’s it They are not interested in giving OP any financial aid. He missed the deadlines. He should check out the state aid programs and see if he’s still eligible for money there, and what he can get He may be too late.</p>
<p>The problem he has is that a gap year means another year, staying at a relative or friend’s house, and my guess is that it’s time for him to move on, and to get accepted the following year to those same schools may be a problem, particularly UT Austin, and the classmate’s dad’s offer may well disappear if he doesn’t grab it right now. </p>
<p>@cptofthehouse I wouldn’t mind taking the gap year. Also, while UT admissions are strange as hell, it wouldn’t be the only school that I’d be applying to.</p>
<p>^ I agree with Hunt: ask your friend’s dad to give you a job (any job he wants, makes you apply for, etc) and earn money that you set aside for college.</p>
<p>Your plan to apply to 100%need colleges is a good one.</p>
<p>Based on your friend’s father’s willingness to help you, I’m assuming you were an excellent HS student and he feels you’re worthy of the investment. So, the work during gap year plan is doubly good: you may get better aid than at Texas publics (financial aid is pretty bad - I can’t believe they encourage loans rather than grants… loans on top on loans!), you’ll get valuable experience, you’ll make money, and if your friend’s dad is happy with your work it may lead to a renewed offer of a “loan” or internships.</p>
<p>cptofthehouse: Any student who graduated from a TX HS is considered in state for tuition purpose. It’s not a loophole.</p>
<p>The Dream Act is of undocumented individuals, not US citizens. If there is a ‘loophole’ it is not through the Dream Act.</p>
<p>Original question was should he take the private loan, and if he wants to go to UT-A this year, that’s probably as good a plan as any. </p>
<p>@MYOS1634
Called him, he told me the loan would still be available if I were to take a gap year for work.</p>
<p>Did you ask for a job so you have a chance to earn money before taking on a loan?
Do you have the list of 100%Need schools (there are only 61 in the entire country)?
What are your stats - we could direct you to schools that have good merit aid for those stats, etc…</p>
<p>1) I’m applying to summer jobs, at the local H.E.B. or BestBuy or something.
2) I do know of a few that meet full (or almost full) financial aid.
3) SAT 2080, ACT 33. Rank and GPA are now 12/105 and 3.9 respectively, but they’re subject to change (improve) by the end of this year. Also, during my year off, I would intern at a local engineering firm to still show an interest in education.</p>
<p>From the automatic full tuition/ride list, Louisiana Tech University caught my attention. It seems like a great alternative.</p>
<p>With your ACT and GPA you get an automatic full tuition scholarship, Honors College, $2,500 stipend, Honors Dorm, Research, priority registration at UAlabama’s Engineering (and you can compete for the competitive honors on top of it: Stem-MBA, Computer Based Honors…) The program is very popular with OOS kids and has a very active forum here on CollegeConfidential, check it out.</p>
<p>Send your ACT, not your SAT since ACT is better.</p>
<p>You’re competitive for a lot of full ride scholarships: Cincinatus at UCincinnati (a cool city in Ohio), Johnson at Washington&Lee, Robertson at Duke (very very competitive), Cornelius at Vanderbilt (very very competitive too)…
If you’re URM and are interested in International Relations or Political Science, Frederick Douglass Scholars at American University.</p>
<p>It’s pretty certain you’d get UT Dallas and U Houston’s full scholarships, as safeties.</p>
<p>This is a website for 1st generation students; they list all 100% need colleges:
<a href=“Colleges with Need-Blind Admission for U.S. Students”>Colleges with Need-Blind Admission for U.S. Students;
<p>Also, I meant ask your friend’s dad for a job (I assume he owns or is high up in a company in TX) for the upcoming year. Although interning at an engineering company is a great way to spend a gap year.</p>
<p>Implications of the Dream Act hit citizens as well as illegal aliens. Was not implying that the OP was either, but that the Dream Act may have been instrumental in getting instate tuition.</p>
<p>"This option for establishing Texas residency is available to citizens or permanent residents of the U.S. and to international students.</p>
<p>To establish residency through high school graduation, you must</p>
<pre><code>Graduate from a Texas high school or receive a GED in Texas; and
Live in Texas for the 36 months immediately before high school graduation; and
Live in Texas for the 12 months immediately before the census date (usually the 12th class day) of the semester in which you enroll at UT Austin (or another college or university).
</code></pre>
<p>If you are an international student seeking residency through high school graduation, you must submit a Residency Affidavit stating that you will apply for permanent residency when you are eligible to do so."</p>
<p>OP’s issue is that parents do NOT live in Texas, but outside of the country, but he meets the above requirements. However, parents who claim child as a dependent and live in another state, are still not allowed to have TX instate tutition despite this requirement. THe loophole may be, and I am just guessing, is that they do not file US taxes and/or they do not live in this country OP himself stated that instate tuition status was attained through a loophole. </p>
<p>Community College is, unfortunately, not an option - if I suggest it, my parents will probably throw me out of the house or something.>>></p>
<p>It sounds like he lives with is parents - in TX as he said in the next sentence.</p>
<p>Sorry, I should clear that up.
I’d been living with my godmother (who resides in the country) for some time, but my parents would likely make her throw me out of her house*
My parents do not in fact reside in the country.
I attained my “in-state” residency for tuition by appealing to UT and stating my reasons for being in the country, even though I had filed the FAFSA with my parents’ data.</p>