When your parent was working, what was the occupation or annual salary?
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I live pretty well off, but recently both of my parents have become un-employed (one struggles to find a job for years and the other just got laid-off). This happened post the financial aid deadline so it just recently became pertinent to acquire a grant. If I call the school and explain this to them do you think it will be a valid reason to consider late finical aid?
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Also with the scholarship money I was granted by the school I have to pay roughly $38,000 a year. I have also been working diligently on 3rd party scholarships to try and earn more money (results TBA).
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What are your parents SAYING? Are they saying that even with BOTH parents unemployed, that they they still have PLENTY of money to pay $38k this year, and whatever they’ll have to pay in a future year? Is the recently unemployed parent CONFIDENT that he/she won’t be unemployed long??
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As for Michigan it is my dream school and I literally would do anything to go there. No amount of cost will inhibit my attendance. This may sound stupid but I will try to figure something out (hopefully my parents will be back on their feet then).
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Well, if your parents will happily pay $50k+ per year to go there, then super. If you have to borrow to go there, then that would mean an insane amount of debt…plus likely your parents wouldn’t cosign or qualify to cosign.
Yes you screwed up. Time to move on and do the right thing financially. That may mean cancelling your enrollment at case and enrolling at a community college in Jersey. Michigan may be your dream school, but it sounds like you will ruin yourself financially trying to start at Case. To continue pursuing Case is disrespectful to your parents situation and is an additional stress they do not need right now.
If one of your parents has been looking for a job for several years without luck and your style of living hasn’t changed, the likelihood is that they’ve been living off savings. I wouldn’t assume they can pay the $152k Case expects them to pay.
There are [several colleges in NJ](http://www.nacacnet.org/research/research-data/College-Openings/Pages/College-Openings-Results.aspx) still taking apps and many say they have financial aid available. If I were you, I’d look into some of them. The best aid goes to freshmen so you need to find a school that will give you merit aid for your stats (even if it means taking a gap year and reapplying to a new list of schools), or find one that’s affordable for your parents for all 4 years.
I wouldn’t depend on any school giving you ~$40k/year this late in the game, or renewing it for years 2-4 even if they do give it to you for the first year. If Case does give you a one time grant, you’re locking yourself into whatever school your parents can pay for out of pocket for years 2-4 unless you can get transfer aid (and most schools don’t give much aid to transfers) or one (or both) of your parents are lucky enough to find work relatively soon. If you want to go to school this fall, you’d be better off making a list of schools that are affordable given your parents’ current financial situation and picking your favorite from that than from the (probably smaller) list you’ll have next year if your parents don’t find work. Or, you could take a gap year to give your parents time to find work (and work yourself), then reapply when the financial situation is more settled.
Hey, guys thanks for all the advice, but I know my families financial standing. I am not as ignorants as you may think. I would appreciate if you would stop assuming things about my family and trying to tell what to do with my life. My question was pretty simple and it was answer a long time ago so unless you have some information about financial aid I really don’t need advice about ruining my parents and whether I should go to community college. Neither of those things need to happen.
Thank you for all the help but I can figure the rest out with my family
Frankly, you’re right. This is for your parents to decide. If they’re fine with dipping into savings/whatever to pay, then fine.
OP- if you don’t like the advice you’re being given there’s an easy solution- stop logging on and reading the thread you started.