<p>My parents have decided they only want me to go to a small school like Amherst or Williams...yet not only do I dislike these types of schools, I've already applied to the schools I want to go to, like USC, Vanderbilt, etc.</p>
<p>My parents make a few mil in combined income so I don't imagine I qualify for any financial aid and didn't check the boxes or do that FAFSA financial aid form everyone's talking about on here.</p>
<p>I'm not expecting them to cosign any loans either.</p>
<p>What should I expect here? Will they get approved? What kind of interest rates should I expect?</p>
<p>I’m not sure what you’re asking…but if the question is “Can I get $50,000 in loans per year without a cosigner?”, the answer is probably NO…unless you have a huge amount of personal assets in your own name…and if that is the case you don’t need the loan.</p>
<p>To get a loan, you must have some collateral…something the bank or loan agency can sell or collect upon in the event that you do not repay the loan as promised. When someone gives you a loan for a house, they can sell the house and reclaim the lost funds IF you default on the loan. If you buy a car, they can do the same with the car. When you get a loan with your parents or someone as a cosigner, it is because THEY have the income and assets to support repayment of that loan. ANY loan agency (not including the Staffords…which ARE loans for college students…but not in the amount of $30K per year) would want to loan money to folks where there is a likelihood that the loan WILL be repaid. This means INCOME and/or ASSETS. </p>
<p>You have already sent your college applications in…and it sounds like you didn’t apply to the top choices of your parents. Did you even discuss your college plans with your parents? (Perhaps this is why the person said “grow up”). It’s important for families to have candid discussions about college plans. This is something you need to do ASAP. There is likely some school on your list that is acceptable to your parents…or maybe there is some school with a later deadline that will work. </p>
<p>Why do your parents want you to go to a small school? Why do you want to do something that is opposite of this? Perhaps you can explain YOUR reasons to them and they can explain THEIRS to you. It sounds like a compromise is in order.</p>
<p>Carrying $50,000 in college loans would be a big mistake because it would cripple your options after college. If you’ve got the stats to be considering applying to top LACs, far better to apply to some lesser ranked colleges where you might be able to get full ride merit aid.</p>
<p>That’s the thing. I flew out to visit all these schools, they were fine. Just the other day, my mom changed her mind and said she (meaning my father, in reality) wouldn’t support any of them.</p>
<p>I was floored, but what can I do except move on? </p>
<p>I’ve had all the conversations, I know. I think I have some options, though. I’ll see what happens.</p>
<p>The point is to grow up, just like I said. Your parents are offering to pay the way to several top LACs, and they even fly you out to visit them. Saying “this sucks” and “what can I do except move on” is ridiculous…there are tons of kids who would die to go to a top LAC without any debt afterwards, how bad can it be?</p>
<p>You’ve probably grown up getting everything you want, but because mommy and daddy won’t send you your specific favorite schools you “threaten” to take out loans. How will you feel getting out of college with $200,000 in debt making 50k or so A YEAR, knowing that you could’ve gone to Williams or something for free. Just from the colleges you’re looking at, I know you’re smart enough to know that’s not realistic. </p>
<p>Sorry if I stereotyped a bit, but I hate when people take things for granted and try to manipulate…</p>
<p>Most people aren’t a sure thing at Williams or Amherst. What other schools will your parents pay for? Have you seriously only applied to schools they won’t pay for?</p>
<p>raimius – if her parents make more than a million in income, filling out the FAFSA would have been a waste of time and given her no more options.</p>
<p>I am with the other posters who suggested that you see if you can reach a compromise with your parents. If they just gave you this bombshell and the application date is past, surely you can work something out.</p>
<p>Well then you didn’t read my posts or simply don’t understand the situation.</p>
<p>They flew me out to see the schools I wanted to apply to. They had no problem with my list. I narrowed it down and sent in my applications.</p>
<p>***After the application dates, my mom tells me she changed her mind and will only support small LACs. I didn’t apply to any and the deadlines for most have passed.</p>
<p>This isn’t my fault. I’m not “threatening” my parents with loans, I haven’t even mentioned it to them. And although now I’ve seen it’s impossible for me to do, I was very serious about trying. </p>
<p>You don’t know me or my family, so if you’re not going to help in any way, don’t bother making uninformed judgments about me. </p>
<p>"You’ve probably grown up getting everything you want, "</p>
<p>Really? You have no evidence supporting this statement. None. Stop making asinine assumptions about someone you’ve never met.</p>
<p>acarey - have you sat down with your parents and asked them what they want you to do as it is now too late for you to apply to the schools they have decided they would like for you to attend? It sounds like you really need to have a discussion.</p>
<p>About the only schools you can still apply to at this stage are those with rolling admissions which would probably not include any of the type of small school they are now saying they will support. Perhaps they are not aware of this?</p>
<p>If your parents will only pay for your attending small, excellent LACs, you may have to take a gap year because you’ve missed the application deadlines for virtually all schools that would meet your parents’ requirements.</p>