Got my financial aid package, not too great...

ramsfan911 · 03-01-2007, 10:21 PM

Hey guys. I recieved two financial aid forms today from two of my top schools. I was, for some reason, expecting a lot less loans, but here is what i got.....

School A
Total cost: 31255
Parent cost/year:4100
Loans/ year: 5500

School B
Total :34555
Parent/ year: 5625
Loans/ year:6250

I dont really like this at all seeing that my EFC was 3100. The idea of at least 20,000 in loans doesnt sound so hot....at all! And frankly my mom can't pay over 4500 a year, so school B is basically out of the picture. What is normal for loans coming out of college. If it doesnt get better than this for the rest of my schools, i'll be dropping my priv. college LAC dream and going to my state college

Money is most def. an issue w/ me and my family, and I'm going into teaching or public service so there wont be much of a paycheck there. Any ideas or am i just making to big of a deal out of it? Thanks.

collegebound_07 · 03-01-2007, 10:24 PM

Do you mind stating which schools specifically?

hazmat · 03-01-2007, 10:28 PM

and your summer earnings will go toward what? Have you been awarded work study funds? You may want to research some of the teaching options that remove some of the loans. There are such programs.

ramsfan911 · 03-01-2007, 10:33 PM

summer earnings are already included in the cost for "travel, personal expences" and that comes to near 2000 which seems high for me. I've got a 2000 work study at both but that doesnt drop my loan any. i'll look into the teaching options some more. I dont really want to name the schools specifically, sorry.

hazmat · 03-01-2007, 10:36 PM

http://studentaid.ed.gov/PORTALSWebA...p?tab=repaying