<p>So, this question has probably been asked before but I cannot find any answer using the Search feature. I am relatively unversed in the financial aid area of colleges, but I still have a general idea. At this point I have decided to attend UW (Washington-Seattle), but I did not recieve any scholarships and I applied after the deadline. I am also out of state which makes the tuition cost go up even more. So as it stands now, my EFC is around $5500 - with no scholarships (At the moment) - I also recieved a federal Stafford subsidized loan for $3500. My parents filed bankruptcy about 5 years ago and they cannot cosign any loan for me for the next 2 years. I have no clue where I am going to get the $26000~ in loans without a cosigner. I know this amount seems ridiculous for ONE YEAR of undergraduate studies, and it probably is. Is there anyway in this world I will be able to get a private loan to pay for this? I am hoping to get maybe $1000 to $5000 in outside scholarships and work a summer job as well. </p>
<p>Do I need to come up with the ENTIRE years tuition the first day I go to college or will I be allowed to pay only the first semester while working a job to pay the next semester. (My parents make decent money, about $80,000, and they will be helping me pay any loan off, but at this point they cannot cosign for me to get any loans).</p>
<p>You only have to pay the first semester's tuition, and some colleges offer monthly payment plans. But you've just explained in very good language why it is that my d. tossed her admission letter from UW in the trash. She (and I) did not realize at the time she applies that UW gives NO grant aid to out-of-staters. </p>
<p>Have your parents apply for a PLUS loan -- they will be denied, but once that is denied, you will be eligible for an additional student loan -- not for the full $26K, but between student loans and your summer earnings plus a part-time school year job, if your parents can manage about $20K a year with a monthly payment plan (figure 10 payments @$2000 each) -- you should be able to swing it. With an $80K income that's really tough, but not impossible.</p>
<p>My parents don't understand that is it difficult to get scholarships/grants from UW to begin if you're in-state, and they don't understand AT ALL that its impossible to recieve any aid if you're out of state. They think the bulk of money from scholarships comes from private scholarships. Almost everyone in my high school has recieved the majority of their scholarships from the school they are attending (Not from competitive scholarhips). Although some people do recieve $10,000+ in outside scholarships is it normal for a student to only get $1000 from outside scholarships? My parents keep mentioning about how other kids they know got large scholarships from the school they are attending. Then they go and lecture on some bull$hit subject about how I am irresponsible (As if taking 6 AP classes - out of 5 periods - is not enough of a courseload, they expect me to find the time to do extracurriculars while winning $20k scholarships). ARGH! Sorry for the rant, my parents are dumb.</p>
<p>Anyway, calmom. Thanks for the advice. I emailed the UW Financial Aid off requesting advice as well. Does this sound plausible?</p>
<p>My brother has decent credit, probably in the 600's (He is only 23) - would I be able to apply for a small student loan with him cosigning? Maybe $3000 or $4000?</p>
<p>Another $3500 from the Stafford subsidized loan</p>
<p>An additional $4000 from the Stafford unsubsidized loan.</p>
<p>Working a summer job ($3000 dollars?).</p>
<p>Working part time during college (Possible another $3000 for the academic year? - Maybe more?)</p>
<p>And finally $1000 in outside scholarships.</p>
<p>That would leave around $16,500 - which hopefully my parents would be able to pay for in monthly payments.</p>
<p>Solsek, there's not much more I can advise you. If I had realized UW's aid policies, I would have saved the $35 and told my d. not to bother applying in the first place. (I'm still ticked off at myself for the wasted application fee, a year and a half later. It was my job to research financial aid and I messed up.). If you had posted 3 weeks ago, I would have told you to turn down UW and opt for another college. You can't really afford it. </p>
<p>I realize that you have made a deposit and probably are stuck with your choice. Unfortunately, the "how to pay for it" part is a discussion that should have taken place between you and your parents before you opted for UW. I don't know what you can do to raise the money now unless your parents are willing to pay a big chunk of it. </p>
<p>I'm sorry to be so blunt. If you were my kid, I wouldn't be allowing you to attend... but I certainly would have told you that before May 1st so that you could have put down a deposit on an affordable school.</p>