<p>so now that somewhat of the middle of march has approached i have started to get finanncial aid reward letters. my dad is the only working person in the house hold of 4 making 79k and to make it short and sweet, most of the colleges that have sent back financial aid letters came back as mostly all loans of 14k-20k loans a year (the usual fed direct loan, fed direct unsubsidized loan, PLUS loan, etc.).</p>
<p>so am i stuck to paying od loans for the rest of my life?</p>
<p>Sounds like you applied to a lot of expensive schools. Did you apply to any financial safeties - that is, schools you know you can afford? What about your state flagship?</p>
<p>Financial aid, for the vast, VAST majority of people, is meant to supplement parental contributions, and only a tiny number of people get full funding for undergraduate studies.</p>
<p>You need to sit down with your parents, find out how much they can afford and figure out where you can go based on that number.</p>
<p>those Plus loans are your parents responsibility. If they aren’t willing to take out those loans and pay them back, those schools won’t work for you.</p>
<p>Did you apply to any affordable schools?</p>
<p>You’re not screwed for college–but you may have to radically rethink your strategy. In the state of California alone, nearly 300,000 students are enrolled in the cheaper alternative of community college. It is simply mistaken thinking for students to assume that “every” student can afford to go straight to a 4-year college. Private colleges are out of reach for most students, and even in-state public 4-year colleges can be too much money, especially if the student can’t live at home to save room and board costs.</p>
<p>So, no, not screwed. Just need to look at your alternatives. Hopefully you can line up something before next fall. If not, a gap year of working and reapplying might be your best bet. Good luck.</p>
<p>It all depends on where you sent your application and got accepted as to what sort of financial aid package that you receive. Your family income puts you out of PELL eligibility range so getting anything from the federal government in the way of grants is out. Many of the state programs are tied to PELL or are close to it, so there may not be anything there for you either. That leaves loans, some of them subsidized, and PLUS for your parents to borrow if they are so inclined. The only other sources are the colleges themselves and merit scholarships. If your choice in schools are those that meet close to full need with grants, you have a better chance of getting an affordable package.</p>
<p>Which schools are involved? What is your FAFSA EFC? That can give you some idea of what you might be getting in awards.</p>