<p>I will be attending a top 15 school and I received a scholarship that said that they would guarantee me not taking out a loan to pay for college...it covers everything but $3,896. I have outside scholarships that bring that cost down to $2,246....my family makes about $62,000 a year so I guess the scholarship covered everything but what they thought my EFC was?
anyway, would it look petty to complain about paying $2,246? should i just speak to my parents about it?
ALSO (this is the important thing) my mom took out a loan for my brother but is currently not paying it...will she be able to take out one for me? can you take out more than one loan?</p>
<p>That is not your family’s EFC they left you with. It is your (the student’s) share. The expectation at most schools is the student has to work for their portion of the tuition. Summer jobs…</p>
<p>A top 15 school for 2,246? That is awesome! Do you not have the job availability in your area to be able to cover this (I am not being insensitive- I realize that in some places there really are NO jobs for students). Or a job at the university during the year to cover it?</p>
<p>As mentioned…most of these top schools ask for a STUDENT contribution. Sometimes they offer work study to students to help them with this. Some schools expect their students to work to earn this contribution during summers, vacations and with part time work during college.</p>
<p>It sounds like this school gave you almost $50,000 in aid. That is VERY generous.</p>
<p>It sounds like you got an AMAZING financial aid offer. Apply, apply, apply for jobs to cover the left over amount. Otherwise taking out an extra $3K a semester in loans is not a big deal in terms of college cost. Talk to your school to see if you can still take out a federal loan. If not, you might have to look into alternate loans and then get a job to start saving up for the rest. Even taking out private loans in small amounts can add up with interest after 8 semesters.</p>
<p>And yes, you should be able to take out more than one loan. It will just depend on credit history and all that. But technically I think it can be done.</p>
<p>Congrats on your financial aid package!!</p>
<p>We only make a few thousand more than your fam, we literally have no assets, and although my D got great fin. aid scholarships and grants, our EFC was close to 7000 and we are paying 11,000 for the year to the school. They were also the most generous of all the schools that offered aid. You got a great package. I would not complain about paying $4000 when that is not even 10% of what your family makes. There are students much worse off than you - be glad!</p>