<p>My family makes just enough money a year that we don’t qualify for need based (think just over 100,000 pre-tax), but it’s not enough that $50,000 a year for tuition won’t set us back a lot. Although with my SAT and GPA, I could probably get scholarships from many state or lesser-known schools, I feel like if I’ve worked this hard throughout high school, then I want to go to a great school (if I get one) to show for my efforts. Should I go to a lower-ranked school like SUNY in order to get financial aid, or take out a student loan to pay for one of my dream schools, like UPenn, JHU, or Columbia?</p>
<p>There are many OOS students who would be thrilled to get accepted to some of the SUNY schools. I guess the grass is always greener!</p>
<p>I would suggest that you apply to one or two reach schools…but just make sure you have a good safety where you will be accepted, can afford to attend, and that you like. That way you will have a good safe, affordable option. If the finances don’t work out at the reach school, you’ll be all set anyway.</p>
<p>I also strongly suggest that you NOT fall in love exclusively with schools that might not be affordable.</p>
<p>My DD got accepted to Johns Hopkins but we didn’t get a dime. So she went to SUNY Buffalo on a full ride in engineering. She was happy with the choice and loves the school. PLUS she won’t be in debt for $240K. Think rationally.</p>
<p>You don’t have all the information so you can’t make a decision yet. First, talk with your parents about how much they can afford. Then, go to some school’s websites and try out their Net Price Calculators to see how much, if any, aid you can get. Apply to a range of schools-- affordable in-state options, schools that might give you scholarship money and, if they exist, any schools where you may qualify for aid. Then see the results. Obviously, if your parents say they can afford $20K and the school costs $60K and gives you no aid, you can’t go. But you may find that the gap is much smaller or that a private with merit is less expensive than a state school. Then sit down and make a decision with your parents.</p>
<p>YOU can’t borrow that much. YOU can only borrow 5500 for your frosh year. To borrow more than that requires qualified cosigners. If your parents earn around 6 figures, they won’t likely be willing to cosign a huge amount of debt. Plus, they would have to requalify each year. Each year that they cosign their credit takes a big hit so they may not qualify during one of your later years in school and you’d have to come home. Besides a lot of debt is crazy. it will ruin your life.</p>
<p>You need to ask your parents how much they’ll pay each year. That’s going to determine where you can go to college and where you should apply.</p>
<p>Please “get over” the idea that you’ve “worked hard” and deserve a top school. Many, many students worked just as hard as you (or harder) and have suceeded in school and in life by going to other schools. </p>
<p>Hopefully you have already applied to safety schools and those that will give you large merit. Many schools that give large merit scholarships have deadlines that have already passed.</p>
<p>Are you a NMSF?</p>
<p>edited to add…</p>
<p>I now see that you’re a junior. Good. Yes, you will make NMSF, I see your PSAT score.</p>
<p>You need to sit down with your parents and ask how much they’ll pay each year. As for borrowing: YOU are restricted to low amounts and to borrow more (BAD IDEA) requires co-signers. If your parents won’t cosign then that idea is off the table and you have to accept that.</p>
<p>Your parents don’t earn enough to likely be able to pay full price for college unless they’ve been saving. With that income, paying won’t just “set them back a lot”, it would mean not eating, not paying their regular bills. lol</p>
<p>First off, please dont look at SUNY as a lesser school. As a NY resident I am constantly amazed at people who think it is somehow worse than any other state sponsored school system. OSU is a state school, PennSt is a state school, MichSt. Fla St. Obviously the list could go on and on. Nearly 500,000 students at 64 campus’ call SUNY their school. Many SUNY schools are currently more selective and have higher student stats than 50K private schools. ie Bing, Geneseo, Oneonta, NP, Buff,SB. My daughter will graduate this spring from a SUNY in 4 years, with a BS, accepted to a Masters program, and having received 4 years of a presidential award, which effectively meant our contribution was room and board/incidentals. She had acceptances to several well known privates, but this one screamed SMART CHOICE!!!. My son is a sr in HS planning for next year, sure he has dilluisions that his dream private, currently 60k COA, will match a SUNY price. Of course that wont happen and he already has a couple SUNY presidentials in his pocket too. Once again, bringing the cost of undergrad to a R&B. We are in the same boat as your family. 150k salary range, with extremely hardworking bright kids. So bright in fact that they realize the value of education as an investment, not a medal. Good quality at a lower expense should be your primary goal, and will result in a much happier future.</p>
<p>^^</p>
<p>You’re right…there’s nothing wrong with SUNYs. :)</p>
<p>This student is lucky because he has high stats. That means he’ll have a number of choices for great merit scholarships…even at some schools ranked higher than SUNYs…so SUNYs won’t be his “only” merit choices. </p>
<p>This student seems to think that “working hard” in school would be worthless unless he attends a tippy top school. That’s just naive thinking. </p>
<p>Track…what is your career/major interest? If it is medicine, then you really don’t want debt for undergrad years. PLUS, you’ll want to be one of the top students at your undergrad to get the best grades and LORs.</p>