Yes well the plan for me changed when it was stated that it had the be repaid right away. Hence Post #12
The tuition at UConn is 16k per semester or 32k per year
http://financialaid.uconn.edu/cost/
the net price calculator explicitly states that it is an estimate and does not constitute a legal contract. Your your going to financial aid stating what the net price calculator says will not get you anywhere.
Its basically the same thing. There’s two semesters in a year… It says “the annual amounts described below may be divided by two to attain estimates for a single semester”
Your 18k a year will come out to 9k a semester. Where is the rest of the money coming from?
Please re-read your financial aid package. What is the complete break down of your package? I doubt if you are getting 6k of loans a semester.
Are you a sophomore or a junior? As a sophomore you can only borrow $6500/year from the federal government. Is Uconn backing the other $6500? It is also highly unlikely that you receive 11k per semester in scholarship aid as an OOS. You will not be eligible for any need based aid other than Pell (if you are Pell eligible)
Thats not what I was planning on doing. I was only going to contact them and get suggestions on what the next step might be. My schools financial aid’s website offers scholarships and things like that but you have to contact them in order to get more information about them so that is what I was planning on doing about Uconn. Contacting them and seeing if they had any ideas on how to receive any more aid.
its 18k for the spring semester only. I am a sophomore. My package includes, 11,907 in grants, and 6500 from loans. I know what im doing.
How do you plan on paying for years 3 and 4?
Do you currently have loans at your CC? The amount of money you will be able to borrow will be adjusted by what you have already taken out. If you have loans this semester, you need to deduct that from your $6500
I would strongly advise calling them to make sure that you are getting this package. While you will have to file the FAFSA every year, you need to know if you will be getting this grant every semester for your remaining two years. Get the answer in writing.
No, I do not have any loans taken out this semester. Everything was paid for by grants. I will make sure to contact them and get the answer about the grant.
You are OOS for UConn. It is very likely that this school will not be affordable for you.
Is there a four year public university in Massachusetts where you can commute from home? Hat would be your most affordable option, most likely.
The closest would be Smith College. Im really hoping to get in but I still haven’t heard back. Why is it very likely that this school will not be affordable for me?
If you get into Smith, you might be able to afford it…if they meet your full need. So what IS your full need?
I don’t know what that means exactly… I did their "estimated net price calculator, and it came out to total student contribution: $1,850
@AvPsychologyGirl you are just going to have to wait and see what sorts of need based financial aid packages you get when you get your acceptances. Then you will be able make a decision about affordability.
Personally, I would wait for Smith, even if they cannot admit you as a transfer until the fall. Over the long range UConn will not be affordable. You will be stuck with no where to transfer or you will have to do additional time (which may exhaust your aid).
@AvPsychologyGirl I too looked into my son attending UCONN as an out of state commuter. What I found is that it would be very expensive akin to private school. I am unaware that UCONN offered the numbers your talking about. I commend you for obtaining those amounts from UCONN.
The math is pretty easy. You start with the cost to attend UCONN out of state which is north of $30k. Then subtract the amount of free grant money they will give you. The result is what you will have to pay. If you cannot pay, then you can borrow the money and use that loan money to pay what you owe. As was stated, the max you can borrow on your own as a young adult with no credit rating will be $6,500 (federal Stafford loan) for your second year in school. Any other loan will require someone else (with a good credit rating) to co-sign the loan with you so that they are liable for the loan in the event you do not pay the loan. Do you have an adult with a good credit rating wiling to do that? If not, then you will not be able to raise the funds needed to pay your bill. If you cannot pay, you cannot attend.
Do not feel bad if UCONN is unaffordable. Every student goes thru this. You will find a college that will work out for you financially.
Good luck.
Well, out of everyone in my family, I’m the one with the best credit score. Out of all the colleges i’ve been accepted to Uconn is the best one, except for University of Miami which I cannot attend right now. So I do believe in this scenario the pros out way the cons.
Even if you have the best credit in your family, you have no work history and it is highly unlikley that you are going to get a school loan without a qualified co-signer. I totally understand that you really want to attend this school, but you are setting yourself up for a financial train wreck.
What do you mean no work history? and You don’t have to worry about loans. I don’t plan on getting any… I just found out I received another grant so thats $600 more I’m getting per semester.
I live in CT. You are not going tomreceive taxpayer institutional,aid to attend UConn as an OOS student.
For loans above the Direct Loan, you will need a qualified cosigner. Will your parents do that for you?
$600 is not going to cover the gap you will have.
What gaps? The only thing I have to worry about paying is tuition and books, which my package is enough to cover for.