However, there is a difference between colleges where you simply declare your major then, and between those where there is competitive secondary admission to the major.
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I have a really weird family situation. my family income is about 60k in a household of 3. but my parents said they will provide me with any aid I need if I ended up at any âgoodâ colleges, which in this case is emory, NYU, USC and other you know âtopâ schools, I personally would be happy as long as the school provides me good education and isnât a ghetto so at least i can stay safe.
How can they ensure that, if income is 60k?
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I genuinely donât know, thats the part I am also confusing at.
I provided NPCs. This isnât that hard. Fill them out with them.
You may qualify for need aid. However l, they may have assets to use to pay. We wonât know until you do this.
If they make $60k a year and donât have more assets, how will they pay ?
I have news for you - a $100k, as you call it top schools, guarantees you no more success in life as one that you think isnât top.
In the end, you, not your school, will make your long term success.
Going to a college, no matter how reputed, you cannot afford - guarantees to strain you or your family financially because loans have to be paid off. And in addition to interest, they have fees so you get a $100k loan, you are not borrowing $100k.
That said, all your family can borrow now is $65k. If their income is that small, someone may not lend them that amount.
In the end, you need a budget. You said $40k.
Thatâs what you have although on $60k Iâd think less unless they have assets. And I wonder if they even have $40k.
As it is, youâve brought up communication and business - so you are not even sure.
You are trying rank to future success, something many immigrant families do. In reality, your true budget has to drive your college choice - and yes, some will help you. Thatâs why you need to fill out the NPCs.
Iâd suggest you stop that. You will be the determinant of your future success - not Emory vs Elon.
They probably think they can take on a loan for you - but PARENTPLUS loans have been capped by the current administration (probably a good thing BTW).
What state do you live in?
Run the NPC on Emory, for instance. Whatâs your ânet costâ result?
Whatâs your SAI?
https://studentaid.gov/aid-estimator/
If your income is 60k for a family of 3 you would likely get a lot of need-based aid at private universities that meet need.
Based on my experience, youâd likely get max or close to max Pell, a federal grant that doesnât need to be repaid.
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Here is a list of schools that meet need. Some of them are a little easier than Emory admission wise but each calculates need differently. All are OUTSTANDING.
You and your family need to open their minds to other opportunities you can afford and that will admit you.
It sounds like your parents have wishful thinking but unless they have many assets, hope is not a plan.
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OkâŠyour parent income is about $60,000 a year. If they borrow $100,000 to send you to college, they will have loan payments of over $1000 a month for at least ten years.
Here is my suggestion. If parents think they can afford $1000 a month loan payments in addition to their current expensesâŠimmediately open a separate bank account and deposit $1000 a month into that account. See if that is sustainable. If itâs not, then borrowing that amount isnât a good idea.
Some private loansâŠrepayment starts immediately after they are disbursed. There is no grace period when there are no payments. Something else to check.
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I donât mean to be dire, but I have observed several cycles now, and every time there are kids whose parents promised something like this without really explaining how it was supposed to work financially, and then it proves not possible. Sometimes the parents end up admitting that, sometimes the kid preemptively realizes the family canât afford it, but either way it doesnât work out. Unfortunately, though, sometimes this is only clear long after the main RD deadlines, sometimes indeed only after offers come out, and then the kid may be left without options they could have had with more timely and realistic discussions.
I know it can be really tough for some kids to work this out in advance with their particular parents, but it is something you should at least be aware of. If you can ultimately guide your parents into fully transparent discussions, even better. But you can at least protect yourself by doing the work to make sure you are applying to a robust list of colleges you find exciting and that would be comfortably affordable for a family with your means, as per their NPCs.
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Thank you for your advice! I went to the NPC for NYU, and it saids I inly have to pay 33,000 for one year! do you think the NPC is usually accurate?
Your parents, not you, should fill it out. It will be accurate if it was filled out accurately. It probably asks things that you canât answer.
It should be - but - you still need to apply to an assured school - assured for acceptance (NYU isnât) and budget.
The trick is - to ensure you apply to one you know will 100% hit cost - just in case.
Many families find out the the amount theyâre being charged isnât what the NPC said. My guess is many families fill it out wrong and when you do the CSS and send in your statements, you get a different number.
Reach schools are easy to pick - and youâve picked a bunch.
But what are the assured to hit cost schools that youâll assuredly get into.
What state do you qualify for in-state tuition?
If your parents make $60K, how will they afford $33K? They have to live too.
Thanks
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NYUâs NPC isnât very accurate because it asks very few questions. In addition, 33k for a 60k income is wayyy too much.
The max net cost you should see should be in the 10-15k range (and even that is likely pushing it).
What State do your parents live in?
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Use it as an estimate.
My parents are separated, but the werid part is they report tax as a family. my mom and I lives in georgia my dad lives in california
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So you qualify for in state tuition in any state ? Thatâs the question.
You need a true discussion on cost. Not wishful thinking.
You need to get a true $$ amount. I canât imagine making $60k a year (b4 taxes) and spending $40k on college - unless they have a lot of money set aside.
You only want to look at what you perceive as higher rated schools.
You need to change your mindset to focus on budget schools or you may end up with no school to attend.
If they are still married, itâs fine to file a joint return.
Okay. Thanks for providing this information, itâs very important.
You should be considered instate in Georgia, which means Hope+Zell Miller and excellent universities such as Georgia Tech (reach), UGA (target/likely), GA State, GA College, Kennesaw (safeties).
Then, lots of excellent private universities for which youâd need to run the NPC, starting with Agnes Scott and Emory (Spelman if interested in HBCUs).
Emory would likely be the least expensive choice for you - itâs very hard to get into but worth applying to.
Read why->
Calculate yourself
At Emory, they have no straight Communication majors but a well recognized Media major - youâd have to major in Media with a Media Management concentration or a Professional Writing concentration.
With either
Or
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Thanks for the resource! I applied to UGA and hopefully (figers cross) they will let me in with my below average GPA lol. for emory, I am deciding whether I should apply as a marketing major or film/media major. I am pretty bad at math (which is a big thing in biz major, i didnât take in hs), but on the other hand, emoryâs media major is pretty film heavy? so idk if they will let me in because I have 0 film related things on profile, my profile is more marketing, digital media, journalism and communication focus.
You didnât take math in HS? You made that comment about business.
What will you do with a film degree?
Iâd think you have a good shot at UGA but you need a Kennesaw or Georgia State or Georgia Southern or W Georgia or Valdosta as a sure thing. Or U of Alabama, which for you will cost, $22K or so a year - very inexpensive.
If you want business, apply to one of those as a business major.
A film major may be difficult job wise.
So UGA is a great start - but now you need a safer school.
Good luck.