Im transferring in from a community college to the University of Connecticut and I’ve been awarded 11.9k In grants plus the option of 6.5k in loans per semester. Is that typically the amount you get at a university? Im just wondering if thats enough to cover the costs of everything. Tuition is 16k per semester (not including books, meal plan, student fees, housing, etc) I don’t have parents who can help me so Im guessing Im expected to take out more loans, is that possible?
Your best bet is to call and talk to the financial aid office since you’ve already been accepted.
You can also run the Net Price Calculator for your specific campus, here:
http://financialaid.uconn.edu/pricecalc/
I’ll try contacting them. I tried the Net Price Calculator and for some reason it said “Estimated total grant aid: $23,275” when they only gave me half of that…
It looks as if you have been accepted to UConn as an OOS. Your package is probably correct because the goal of a public school is to provide an affordable option (UConn tuition is $10,524/ year for in-state residents).
This means if you want to attend UConn, then you will either have to write a check for the difference or apply to a school in the state where you live, which may be a more affordable option. You will not be able to get loans to fill the gap. The max you will receive is your $6500 + an additional $4000 as an unsubsidized loan. UConn is not an affordable option for you.
There is no amount that people “typically get at a university”.
If your parents can’t pay the difference or won’t co-sign private loans for you then that school isn’t affordable. The taxpayers of Connecticut won’t be paying for you to attend.
What schools in your own state did you apply to for transfer?
I applied to Baypath, Aic, Brandeis, Boston University, Clark, UMass Amherst, and Smith. Heard back from a few, wasn’t interested, now waiting to hear from the rest.
For the parent loan, that doesn’t have to be repaid until after I graduate right? Although it is technically a “Parent” loan it would be me who is repaying it https://postimg.org/image/jfjekpl7b/
Yes, any “loan” needs to be repaid. Any I believe you said your parents are not helping so, you wouldn’t even be able to get that loan.
Is the loan contingent on my parents agreeing to pay for it? What If I want to pay for it instead?
They have to qualify for the loan and sign that they are responsible for paying it. They are the ones legally responsible for the loan. Some parents are willing to do this for their kids with the “understanding” that the student will pay the loan but there’s no way I would let my kids get into that much debt. Don’t forget that loans have interest and I believe that parent loan payments start right away and are not deferred until graduation.
The additional $4,000 is contingent on your parents not being eligible for a plus loan. Your parents would have to qualify each year for a PLUS loan. They are ultimately responsible for paying for the loan regardless of any deals that you cut with them. Are your parents will to go over 80k in debt?
Most public schools will not give need based grants above what the student qualifies for with federal aid and state grants (at instate schools).
Instate schools have lower tuition most of the time than OOS schools.
MA public schools are just as good as CT public schools.
You might not be interested in some of the MA schools, but you need to go where you can afford to go.
Well hopefully I get accepted to one of the schools in Massachusetts so I don’t have to worry about this problem. What interested me in Uconn was their psychology department and some of their other things. I can afford uconn if I stay at home which is what Im most likely going to do. I’m getting 18k in financial aid with loans and tuition is 16k.
Psychology requires grad school I believe, so you will have more loans.
Well that Is what I plan on doing after graduating…
OOS COA at UConn is $49, 422/year or $98,844 for the minimum 2 years you will be there. This will be contingent on how many credits from your CC will be used toward your degree.
You have $32k in aid over the next 2 years. My bad, your parents will only ask to borrow 68k. Still way too much $$. I would never, ever even remotely consider taking on that kind of debt because it is fiscally irresponsible. they would be paying approx $821 a month over the next 10 years and over 30k in interest. Your majoring in psychology, which is pretty much available at any school in the country, will require grad school (as your parents will still be paying these loans while you are in school).
What is so outstanding at UConn that you cannot find at UMass?
from what i know, you actually can defer loan payments until grad school…
Not parent loans
I don’t plan on getting a parent loan. I have already stated that my parents are not planning on helping out with loans. Which is why I said my package includes 18k and tuition is 16k so that should get me by with me living at home. I screwed up a lot during my first two years at a community college. The only way Im going to get into a phd program, is to go to a school that has a massive focus on psychology and research. Uconn is known for that. Ive toured Umass and their labs, met their professors etc. They don’t have what I’m looking for.
not what you said in post #6