URI is my state school.
And yes UNH is in reach because of my scholarship. @JessiesGirl
Long, but I’ll split it.
Most of the adults here do have some experience with fin aid. Many of us were intimidated, at first. It’s part of the reason we try to comment. There is much we don’t know here, that we would need to give more precise answers.
All we know right now, via OP, is this: Your parents have jobs that usually require some education (could be tech school, could be college, could even be advanced degrees- but it suggests they know the value of post-secondary schooling.) You have a sister at an OOS (out of state) school and that, so far, they took out 20k in parent loans, she got 6k in (presumably) student loans. And that you live in a nice area of RI.
We don’t know their income, whether they have substantial assets that would prevent/limit finaid (but took the loans for other reasons,) whether they saved anything in a college fund or if they have other financial obligations that interfere with paying (something) for college. We don’t know if your sister did get any financial support from UMass or what year she is (ie, how much longer the debt/loans related to her need to go) - or even whether she lives on campus or commutes.
We do know OOS at UMass runs about 40k/year, incl tuition, room/board and fees. So the addl $14k (40-26) had to come from somewhere.
We know that state schools are not usually among the most generous with finaid, for OOS kids.
The usual starting point is the Fafsa EFC. It gives the first (somewhat neutral) idea of the minimum one will be expected to pay- then what you actually pay depends on how much the school can give and does give. You run it for each kid in college at the same time.
We don’t know if they ever ran it for Sis (ie, have an idea how their financial position is viewed.) If they did- and it looked like their portion was high, maybe they assume it will be the same for you. But when two are in college, it usually drops down substantially for each. Remember, this is only a starting point. If the school can’t give much, in the first place, you aren’t guaranteed finaid.
Contd. A school like Yale could be more generous from the get-go. They have the funds and a generous policy re: aid. Also, many “meet full need” colleges will try to offer support. But again, this depends on your family’s picture, as the colleges see it. As I said, we know so little about what that picture is, that we have no footing.
In addn to Fafsa , the private schools are also going to require the CSS Profile, which delves into more detail about finances/assets/expenses of different sorts. That’s a rub. Some privates can be more generous, but the CSS is going to reveal more about your family situation and, as the college sees it, what you “should” be able to afford.
You won’t get aid from a Yale-type, without the needed finaid applications- Fafsa and CSS. Some colleges insist you mark the check box on the application itself: “applying for financial aid.” You have to go to the colleges’ FA web pages and see the instructions.
When a kid applies early (ED or EA, or rolling,) some schools don’t tell the need-based aid when they admit you. They allow themselves more time to process everyone. But if you didn’t submit the right paperwork, they have nothing to go on, you aren’t even standing in line. Again, look at their web info.
There is noting inherently wrong in a hard-working kid making a stab at Yale or Tufts. But you have to go into this informed.
That’s why you’re getting some kick-back from some parents here. At this point, the issue isn’t feelings- it’s triage. For your college choices, get on the web and see the requirements for FA, incl deadlines. Then get your Fafsa number. Then we can maybe give some productive responses.
Right now, as I said, it’s triage time. URI tuition and R/B looks like about 21k. Check it. As a high performing in-state kid, you may get some merit money.
Op,
I haven’t read the whole thread. But yale will often give fin aid to families who earn $200k per year so it may not hurt to apply and find out what kind of fun aid you get. To receive fin aid, your parents must fill out the CSS form and the Fasfa form using 2014 tax return numbers. The sooner after 1/1/15, the better.
Coming in late, because I have been traveling, but just wanted to add my opinion.
lookingforward has been giving you excellent advice. Your family should take the appropriate steps to find out what financial aid is possible for you at each college.
Of course you are not a “spoiled brat” for wanting to go to a selective school. However, it is possible that you might have unrealistic expectations, depending on your parents’ actual financial status. The loan that they are already taking out for your sister’s college expenses, plus the anticipated need to contribute to your brother’s college expenses, may make it financially burdensome or impossible to pay as much as needed for a selective school for you. (Or, it might work out.)
I don’t agree with an earlier poster who (in essence) said that you had earned the opportunity to go to a more selective school by your hard work. Often things just do not work this way in real life. If it turns out that your family cannot afford the cost of a selective school, they cannot afford it. Have you never wanted anything before that your parents could not afford to give you?
Student loans are not dischargeable by bankruptcy, unlike virtually all other loans. If the parents take them out or co-sign for them, as I understand it, they are not dischargeable even if the student dies.
It is often difficult for someone who has not dealt with the details of a family budget to recognize the difficulty of handling large educational loans.