So I’m having a hard time understanding if because a financial aid packet includes direct parent loan, does that mean my parents are required to take out that loan in order to attend? A parent loan is not possible for me so if that’s the case then I can’t go to the school I wanted to go to really badly.
For more specification I’m a New York resident and I was planning on going to New Paltz. However in my financial aid it says the direct parent loan would be $6,986, which is something my parents cannot afford to take out at all. If it means having more debt on myself then I’m okay with that. But I cannot give my parents that financial burden.
Also, is it possible for me to appeal my financial aid award? Another SUNY was offering me a scholarship to attend their school and although it’s only a couple thousand dollars I was wondering if I could try and see if it’s okay to ask New Paltz for more money?
Really not sure what to do so any help is appreciated !
No, your parents are not required to take out any loans. That is just a suggested way of coming up with the $7K that still remains after any other financial aid has been accounted for. If your parents can’t pay that, then you need to either figure out an alternative way to come up with the money — or else go to the SUNY that offered you the scholarship instead.
And yes, you can appeal – they can tell you no, but that doesn’t mean you can’t ask. I think in general rather than using the word “appeal” it’s better to request that your award be “reviewed”.
Keep in mind that not all of the costs of attendance for a college need to be paid in advance – you’ll have to pay tuition and room and board costs in advance, but some of your award includes incidentals that are an estimate of the costs you will incur over time. So you might want to look at the costs on a spreadsheet and see what you would need to pay at New Palz to enroll vs. what you might be able to pay over time. Depending on your major and your own level of discipline & work habits, you may or may not be able to take on additional part-time employment during the school year to earn more money.
The Parent PLUS loan is a parent loan.
You can only borrow ~$5500/year (~$27k over 4 years). An additional $28k in PLUS loans is too much.
Can you tell us what’s in your package at each school? Did you get any grants? SUNYs generally don’t have a lot of aid to offer, so you can ask for more but you might not get anything more. Do you qualify for the Excelsior tuition grant? Is there a SUNY you could commute to from home?
So my financial aid for New Paltz is:
Federal PELL Grant
$6,045.00
NY State TAP
$4,432.00
SUNY Tuition Credit
$1,626.00
Federal Work Study
$1,800.00
Direct Loan Subsidized
$3,500.00
Direct Loan Unsubsidized
$2,000.00
Direct Parent Loan
$6,986.00
Total
$26,389.00
The other school was SUNY Oneonta and I’ve been having difficulty accessing the aid online but I received the Presidential Award for Diversity and Leadership, which offer $6,500 a year. Problem is the school is too far from home. I have a gpa of 97%, which translates to a 4.0. My parents make 36k a year, which made my financially eligible for EOP but not academically eligible. Today I just learned about the Excelsior tuition grant so I was planning on checking that out some time this week.
If New Paltz doesn’t work out then seems like I’ll have to settle for a CUNY, which sucks but it is what it is.
OP’s direct cost at New Paltz is $22.5. Her package incinerated loans is $17,777 leaving a balance of 4.7k in direct cost.
You are not eligible for Excelsior because your tuition is covered by TAP and PELL. Excelsior only covers tuition and only kicks in if TAP and Pell does not cover your tuition.
If you are getting $6500 (whic is 4 year renewable) from Oneonta along with your TAP, PELL and your loan, then that is your affordable option. That is where you should get excited about attending.
Ahh, I really liked Oneonta’s campus when I visited but 3 hours seems overwhelming for me. I guess I’ll have to take the time to warm up to it. As someone from the city, New Paltz seemed like the perfect place but not anymore. New Paltz also invited to join their SMP program, which is a mentorship program and I think you get paid. Let me search for my Oneonta financial aid award.
No, it does not suck, it is what it is. While New Paltz is a short train ride away, it is not a fate worse than death if you don’t attend.
At the end of they day, you need to go where your money can take you. With your parents making 36k, they cannot afford to pay 7k in cash or loans. You will not be the first person from NYC at Oneonta, nor will you be the last.
If you are stuck staying in the city, go to CUNY and live at home because a lot of other people will be doing the same.
Presidential Diversity Schol.: $6,500.00
Federal Subsidized Loan: $3,500.00
Federal Unsubsidized Loan: $2,000.00
Oneonta Promise Scholarship: $1,000.00
Federal Pell Grant: $6,045.00
SUNY Tuition Credit: $1,798.00
New York State TAP Grant: $4,432.00
Total: $25,275.00
Really starting to see which is the obvious route in terms of affordability. Like you said sybbie719, I need to go where the money takes me.
Also, in advance I just want to say I just learned how to read a financial aid award today so I’m kinda slow at figuring this out. I want to thank everyone who took the time out to help me, this is really tough to figure out on my own with no assistance at home.
I’m not really sure yet, I applied undecided. When I visited a student told me there’s like a nice town like five to ten minutes from the campus. If I’m being honest part of the reason why I’m hesitant is because of the lack of diversity over there and how far it is from home. I understand that diversity in general is an issue across the board for most colleges but when my school took me to visit New Paltz I was able to see more people like me which made me feel comfortable.
So I’ve definitely narrowed down my SUNY choice to Oneonta, now I just need to figure out what works out best for me. Thank you all for responding, I didn’t think anyone was going to reply but your help really did offer more clarity. Despite knowing that I’ll most likely not be able to attend New Paltz, I should focus on what options I do have. I think a SUNY will offer me that college community I really want which I won’t find in a CUNY, but again its something I need to think about.
Congratulations on that very fine package from Oneonta! It is a privilege to get the money to go away to college. Most students go to college part time, commuting, rather than going away to school as a full time student.