What should I do?

What colleges can you commute to from home? If you transfer to a community college for the next 3 semesters you can save a lot. In state tuition in NJ is ~$6k/year. If you work summers you can probably raise a lot of that. Can your parents pay anything without borrowing?

In state tuition at New Jersey state colleges is about $14,000 per academic year. The College of New Jersey is at $17,000 for tuition & fees plus $14,000 for room & board. If you can commute, it is affordable.

Rutgers tuition is $15,500 for New Brunswick. Room & Board is about $13,200. Add $1,000 for books & supplies. Total = about $30,000 per year.

OP: You need to ask about financial aid & scholarships & work study at each New Jersey school to which you apply.

And here’s another thing (and I apologize, OP, if it feels like we’re ganging up on you…we’re really not…I’m actually truly concerned about this and I am so so happy that you are smart enough to realize this in your first semester. ) It sounds like your two older siblings are also going to be $160,000 in debt…that means that there is zero chance that anyone in your family will be able to step up and help you…all the more reason why you need to change direction now.

You can absolutely do this…please PM if I can help you with any letters or correspondence that you would need to send out.

I just reread post #13 which shares that her two siblings each already have over $160,000 in student loan debt.

I agree with others that the debt is too much. You have some great options in-state in New Jersey. I have worked with and in another case (graduate school) studied with multiple Rutgers graduates and they have at least all made it clear that people can be very successful with a degree from Rutgers.

@sadcollege person Did you have the HS grades and rank to qualify for Stars? If so, community college tuition would be free in NJ. If you earn above a 3.25 GPA at community college, then there is additional scholarship money to help pay the costs to complete a four-year degree at eligible NJ colleges and universities.

https://www.hesaa.org/Documents/FactSheets/NJSTARS/FactSheetfor2019HSGrad.pdf

Should I transfer?

http://talk.qa.collegeconfidential.com/college-life/2141857-should-i-transfer-or-do-i-hate-my-college-or-am-i-just-depressed.html

@austinmshauri Just a correction, instate tuition in NJ is at least $13K.

OP, come back to NJ. It will work out.

NJ has an excellent community college system. Most of the credits transfer to nearly ALL instate colleges including private ones. If you’re in south Jersey then you can go to cc for 3 years and only need one year at Rowan for a degree. It’s not for all majors. Please don’t burden yourself with so much debt. Even financing $30,000/year for 4 years is a lot of money.

thank you so much everyone for the advice I really appreciate it!! im still trying to convince my parents to let me transfer but they’re still kind of iffy about it regarding how many credits will transfer over because they dont want me to lose an entire year of classes

Finish up this semester and then withdraw. Don’t go into debt for next semester at Penn State.

It would be pretty surprising if most of your classes from this semester don’t transfer because they are probably intro classes. Even if, worst case scenario, none of the credits transfer, you would still be better off financially by switching to an in-state school.

Respectfully, since you are the one who will be making the payments, this is your decision, not your parents’.

IMO your parents aren’t good resources in this situation, as they seem to have got you here. Are they not US citizens? I am not sure why you would be paying over the odds for your current school. They don;t seem to have a good grip on how this all works. IMO get your transfer ducks in a row ASAP. Look at the option of not returning for spring semester, you may lose some housing money but you will not have paid tuition. See if spring start is possible at any of your instate options. If not, you can get a job while applying for fall start, maybe you can take CC classes. Did you have acceptances at instate schools?
What were your stats?

If your siblings already have that much debt with your parents as cosigners, it’s not even a foregone conclusion that your parents would continue to be approved for all of the Parent Plus loans you would need to finish at PSU.

All of the advice above is correct - withdraw from PSU after this semester. You have fine options in New Jersey; don’t take on crushing debt for no reason. It’s a blessing that you’re not in love with a school that you realistically cannot afford.

This is what I would say if you were my child:

“Sweetie, it’s okay for you to transfer. You are not your brothers/sisters, and this is not high school, where you have to go to the same school together. That you are considering the finances, shows your concern for us.”

I really don’t understand how your parents think they will be able to pay off these debts because, eventually, if you can’t, they have to. They need to understand that their credit scores are now impacted by these loans.

Eventually your parents will no longer qualify for any more loans they’ll just be tapped out. Then what happens?

The posters here want you to get your education and then:
-buy your first car on your own,
-freely socialize without budgetary thoughts about where your next meal is coming from,

  • Live away from your parents or not live with them for 20 years,
    and, to qualify for a home loan.

You know you can always go back to the closest uni near your home, or send an email and ask for suggestions.
Take care and let us know how everything is going.