H4 kid - loan options

Applying to College
21

The issue is that most schools that meet need are need-aware for internationals. Some idea of gpa and stats would really help inform the parent what a realistic, affordable choice might be.

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22

Thanks, everybody, for all your kind advice. Let me digest all this info and ask relevant questions after that.

My elder one is a bright kid with a good GPA. Qualified for chemistry olympiad, physics F= ma, in ARML(maths) team, straight 4-5 yr winner of DVSF(state science completion) but getting into very top colleges like Ivy is very difficult. He is yet to appear for SAT.

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23

Thanks a lot !

24

For a high achieving student there are going to be a number of schools where they will qualify for big merit awards. I would encourage you to look into those options. Here’s a thread that might be of interest: Schools known for good merit aid

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25

Does he have a date booked? It is often better to apply early action where possible, so he’d want a result probably by October - earlier in case he’s not happy with his result and wants to sit again.

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26

Digest and then ask questions. Lots of people discover schools they’d never heard of. Include your state, his academic interests, budget, large/small, location preference, etc. Probably won’t get all wishes granted, but there are a genie or two on this list who are pretty good at finding those hidden gems.

My daughter ended up at a school I’d never heard of but whose name popped up 3 times in a month: in the WSJ in an article about schools with Newman center dorms, in a lacrosse magazine that the school was adding a women’s team (she had just become interested in playing in college), and that there was a chapter of my college sorority at that school. None overwhelming on its own, but three times? Took it as a sign to at least check it out. Turned out to be a good fit.

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27

He should try a sample test, online or through the college board app, for the SAT and ACT.
Both are accepted equally but they have different types of difficulty, so that some students do better on one than the other.
He shouldn’t go to a test site without practicing first.
Ideally he’d take the test he does best in (SAT or ACT) once in June (SAT deadline is May 22 if he doesn’t need to borrow a device from College board, May 6 if he does; ACT test June 14, registration deadline May 9) and again in August (23) for the SAT; the ACT has test dates in July, then in September and October.

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28

His SAT first time is tomorrow. He did take PSAT and scored good

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29

Since you live in PA, does the student qualify for PA residency for tuition purposes? Note particularly section IV.B of PA Tuition Rate Eligibility | Student Payment Center

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30

Thanks for the tag @DramaMama2021.

@sk_ks_1000, if you have a sufficiently long credit history and a strong credit score in the US, you may be able to take out a loan from a private lender like SoFi. However, it might be challenging to borrow the full amount you’re considering, and some lenders may require a co-signer.

Apologies if you’ve already mentioned this in the thread, but do you own a home? If so, and if you have enough equity, you could consider opening a HELOC.

I think college selection is very relevant since you may not be able to afford some of the schools you initially mentioned (like the UCs). It would be helpful to consider your state schools and schools that provide strong merit aid, making them affordable with no loans.

Good luck.

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31

Take a look at Univ of Richmond for example. Some merit scholarships, but also need aware for admissions

“ * University of Richmond Certification of Financial Responsibility.

  • Please be advised, all non-U.S. citizens and non-U.S. permanent residents must submit the University of Richmond Certification of Financial Responsibility for admission consideration.”

“International students, non-U.S. citizens and non-U.S. permanent residents may receive full consideration for all merit-based scholarships, with the exception of the Army ROTC scholarship program. For full scholarship eligibility, please submit your application for admission by the December 1st Richmond Scholars deadline.”

When you’re a permanent resident, the state of PA has a loan program

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32

Good luck on the SAT today.

If you do a chance me/match me post, folks her can give you some suggestions of colleges. That’s getting a little off topic here.

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33

Thanks for the good luck. He scored 1530. He can do better since this time he did not prepare anything from SAT pov in particular

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34

Thanks everyone for all your replies. I am preparing him gradually to understand that money too plays a big role. He seems to be getting it especially when he talks with his senior friends coming on vacation from their colleges.

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35

That’s OUTSTANDING!
If he manages a 1600 or a 36 on the ACT (a bit easier for students shooting for a 1550-1600) there are scholarships.

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