<p>I feel bad, I guided my daughter away from her dream school. She had applied to mostly PharmD programs and was accepted to every college that she applied to. Her choice was to attend Northeastern in the City of Boston, but it would cost us over 5 times our EFC. Having to take a loan for $28000 or more each year is staggering, multiply by 6 and you have a huge debt. I had to make her realize what burden that would be on her, she decided to send her deposit into Albany College of Pharmacy. It will cost her $13000 a year living on campus, but also have the ability to live at home in the later years if need be. We live 20 minutes away. She is afraid she won’t get the college experience or diversity of a large University. I hope she thanks me when she is repaying her loans because I feel bad I can’t help her more financially now. just had to vent.</p>
<p>She will get the college experience if she wants it. She’s living on campus, right? I think you just need to convince yourself that you won’t show up too often, and don’t encourage her to come home either. Let her have the experience. </p>
<p>She WILL thank you later, that kind of debt would cripple her for years.</p>
<p>I know someone going there. And it’s a great program. =] </p>
<p>She’ll thank you eventually.</p>
<p>Take this a year at a time. Perhaps leave off the lines about how she can live at home soon since you’re just 20 minutes away. Once she’s learned to live independently in a dorm, she might really enjoy living off-campus with 3 other upperclass or graduate students in a cool apartment, learn to cook together, split all their bills and utilities. She can have a very independent collegiate experience if you don’t keep broadcasting about how she can rush back to the nest ASAP.</p>
<p>It’s very hard to have to make them understand the “big picture” regarding the amount of student loans, especially when they have their heart set on a particular school. We were in the same boat last year - D had been accepted EA to her dream school, Emerson College, but when the FA packages came in, their offer paled in comparison to what Hofstra offered her. As we did not qualify for any need-based loans, the difference was in the merit $$ and they offered her double the amount that Emerson did. So, after many discussions about the differences in just paying back Stafford Loans over the 4 years, to that plus other loans, she “saw the light” and chose to go to NY. Bottom line - she is very happy there and has had a wonderful year and hopefully, will have 3 more without the extra-added burden of taking out more loans. Good luck and congratulations to your D for being accepted at EVERY school she applied to. She will eventually see “the big picture” as well. Although it would have been nice to have her only an hour away instead of 4 hours - we all feel that she made the right decision.</p>