<p>My EFC is 0$. but on the FA calculator it said that only 9000$ will be covered and the rest is loans(33k$). My parents cant take loans, so can I take the loans my self? (Total Estimated Student Loan is only 5.5k). Can I go to a bank and just ask for a loan without involving my parents? how do people in my situation pay for college? what would be the best thing to do if you were in my shoes?
(community college and other colleges are not an option)</p>
<p>There is no tuition fairy. If your family has not been able to save and is unable to take out loans you will have to consider other options like community college, a less expensive school or taking time off to work and save. (Do you have any savings from summer jobs or work during the school year?) $5500 is the maximum Stafford Loan you can take as a freshman. A bank will not loan money to a student with no credit history, job or collateral.</p>
<p>creacher, there is more discussion here; you might find something helpful–
<a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/1276330-student-loans.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/1276330-student-loans.html</a></p>
<p>Ok all is good, I was asking about student lones, I can afford the tuiton. but is it normal to have a student lone of 100k at the time of graduation?</p>
<p>No, it is not normal to have student loans of $100,000 at graduation. It would be a horrible burden and have an impact on your life for many years.</p>
<p>The average student loan debt is around $25,000 at graduation. The recommendation is that your total debt not be more than your expected salary when you graduate. That would mean that an engineering grad would probably be able to handle more debt than an education major. slipjig is right; $100K is way too much debt for undergrad. If your EFC is 0, how can you afford he tuition?</p>
<p>No I meant take out a loan that is what all of my peers are doing. yes, 100K-150k for the whole time.</p>
<p>Not to sound totally like a mom, but if “all your peers” were jumping off the Empire State building, would you think that was a great idea? 
Six figures of debt for an education is a horrible idea. A big burden. Like buying a brand spanking new car every year for 4 years – you wouldn’t try that, would you? </p>
<p>Those are student loans equivalent to a house (in some places) that you are paying as soon as you graduate, for decades. On a starting salary. Go read some of the threads about finances and see how many people regret the debt load they take on. Because a bank or financial agency will allow to you take on that debt does not mean, in any way, that it’s a good idea.</p>
<p>greenbutton is right. there is no way that a penn state degree is worth $100K in debt. If that is your only option for paying for your degree, you would be better off going somewhere cheaper.</p>
<p>In addition to community colleges, take a look at colleges in the PA system of higher education (I’m assuming you are a PA resident), such as West Chester University of PA. </p>
<p>Where else have you applied besides Penn State?</p>
<p>creacher, who is going to c0-sign those big loans for you?</p>
<p>Oh only if I were a PA resident…But thank you all for your replies, as you can tell I am only trying to do everything I can before I give up. my aunt will co sign with me though. Now I heard that Penn state will consider instate after first year, if this is true my figures would drop to about 60k.</p>