Cost of Grad School

mom2collegekids
Sun, 31 Aug 2014 12:29:33 +0000

@comfortablycurt‌ Your info is VERY wrong. Sybbie is correct. A frosh can only borrow $5500 in federal student loans…and some of that 5500 is UNSUB.

Erin’s Dad…I was about the write the EXACT same thing about a flaw in the plan and putting the cart before the horse. lol

@pidap001‌

You first have to come up with an affordable undergrad list because YOU cannot borrow whatever you need for undergrad. If your parents can’t pay much or enough, then schools that won’t give you enough in merit scholarships will NOT be affordable for you.

I know that is frustrating, but as you have said, you won’t qualify for much/any FA. You need to find out EXACTLY how much your parents will pay. (BTW…if you have a NCP, his info will also be needed for need-based aid app at the top schools that give the best aid.)

Having an unaffordable EFC can be dealt with a couple of ways. Once you know how much your family will contribute, then your goal will be one of the following:

1) attend a school with a COA that is below what the family will pay (that doesn’t sound likely)

2) attend a school where you will get HUGE merit, so the remaining cost is about the amount that your family will pay plus a 5500 student loan. For example…if your parents will pay $10k per year, and you borrow 5500, then you will NEED a full tuition merit scholarship so that the 15,500 will pay for room, board, books, fees, travel, misc.

3) commute to a school where the tuition/books/transportation is within the family’s budget.