@thumper1 we are saying the same thing. I said he should anticipate ABOUT 80% of his need met. And a donut hole of about 20%. It could be slightly better or much worse, those are the averages. Many neglect that key statistic and think here is what I can afford the college / government does the rest. NOPE at most schools.
Dicey. Too much has to line up and run like clockwork, IMO.
When we’re young, we presume clockwork is the natural order of things. By the time we hit 25 or 30, we genuflect and do a little dance any time a plan isn’t interrupted by some crisis or other.
Expect some crisis or other, make sure your plan doesn’t unravel with a bad snowstorm or a transit strike.
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Are there any loans that are forgiven if you teach in specific places? NY has a few like that.
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Loan forgiveness kicks in after you work 10 years and make 10 years of consecutive student loan payments. it is public interest loan forgiveness and you don’t have to work in NY to qualify.
What more money do you think Loyola will give you beyond the institutional grants? Also, any scholarships you get will reduce your financial need.
@thumper1 I’ve asked the financial aid office and they said that if an award is <5k your aid will not be reduced as a result of accepting the scholarship. There are a few 1st year institutional scholarships that I qualify for, which are all below 5k and can be stacked. I’ve also heard from current and past students everyone is usually offered one of Loyola’s larger merit scholarships (Damens, Trustee, Presidential, etc) and those range from 13k to 20k. I am pretty sure that is part of the estimate I quoted in the original post though.
IMHO focus your efforts more on the ‘sure thing’ - both financially (affordable!) and a good academic fit.
You have a lot of ‘ifs’ pieced together to try to make Loyola ‘work’.
Certainly put in all the applications that you are eligible for, Questbridge etc. Do those ASAP before you get ‘busy’ with senior year.
ACT 27 - did you do any prep for it, practice testing etc? With a little money spent with a good test tutor, you perhaps can raise your score. This may be important for OOS Black historic colleges that may give you enough merit so your finances will work. If you apply to enough of these schools that are a financial fit, you perhaps may have some options to look more closely at.
To be financial sound, the most on student loans should be what you can take out on loans by yourself. Think about first year salary out of school and how big a piece school loan repayment will be. You do not want to be paying on a student loan (and all the generated interest) for years and years.
You may not be interested in schools that are a financial fit, but do you go to an un-affordable school and then run out of money? If you do not receive enough 4 year scholarship money at a 4 year institution, perhaps it would be wise to attend a local CC and live at home, then move on to the 4 year university. Building up money with PT job and summer work. Industrious kids find enough time to study and stay focused on their goals.
Also if your GPA was higher then the double major would be more feasible. You will want strong GPA in college, which is harder to achieve than in HS for competitive schools and courses.
There are many schools where you can concentrate your time and energy which will be a sure thing on affordability and provide the degree you are seeking.
Certainly apply for the special merit programs you can.
My two kids did concentrate on ACT test taking first semester senior year because they could gain higher automatic scholarships at their chosen in-state public schools. First semester senior year hopefully you will have the time to do all you need to make all the college applications and scholarship application deadlines. I agree IL has higher cost in-state schools.
It sounds like you are needing to do a lot of the searching w/o family guidance? It does help to have caring adult input on what is realistic in your situation. CC can give you ideas/suggestions, but to know you and your situation, and what opportunities are out there within your reach to realistically focus on…
Do you have family that live in other parts of the country, or experiences with other schools/programs that may be a fit for you?
A friend had a student who wanted to go to a school where she had 66% tuition scholarship; parent advised going to the black historic school where she would have 100% tuition and other scholarships. Older sibling went there and is now in medical school, so foundation at that particular school was sound. These parents said college was the student’s financial responsibility. Some parents don’t have a choice and cannot help with college expenses. However if you are doing it on your own, hopefully you can make wise choices along the way and also value the opportunities you have.
A zero EFC middle stats applicant can’t be so picky about where to go to college. Better to focus on a college that is willing to help you get you through all four years than one you prefer geographically.
Agreed, as stated in reply #1 listing some full tuition or better scholarships that the OP’s stats will give.
You brought up “loan forgiveness” Which a lot of kids do these days. Just keep in mind that you can be making payments for 20 years before that loan actually goes away. Waiting until you are in your 40’s to have full access to your teaching or non-profit paycheck… Well, that’s a long time to wait.
You asked if this is a “sound” plan. The answer is no. A “sound” plan does not rely on so many if’s and maybe’s. It doesn’t rely on your selling bodily fluids twice a week or committing to working in schools or non-profits for 20 years (you really don’t know what opportunities will come your way or if your desires might actually change in your 30’s.)
This is a wish and you are allowed to have it. Certainly apply and hope you get all the funding you are counting on. Just make sure you have some truly “sound” and realistic alternatives. These would be schools you can afford without planning the inability to pay off debt, selling plasma or locking yourself into a career for 20 years.
@turtletime I guess sound was not the best term for what I was intending to ask.
@prospect1 I guess it would have been better to say “viable” or “will it work”. And if it felt I was being picky I didn’t intend to make it sound that way. As I stated earlier, I wouldn’t force myself into a situation if it wasn’t a smart move, I would definitely take a cheaper school over Loyola if it meant I wouldn’t be saddled by loans for the rest of my life. I guess that you could say Loyola is my “dream school” mainly because of Chicago. I’m just trying to make up ways for it to work, but I guess it is starting to become pretty clear it is not the greatest choice. I’ll keep it in mind, but I guess I shouldn’t count on it.
Chicago is not going anywhere. I can always go there after graduation.
“Chicago is not going anywhere. I can always go there after graduation.”
Absolutely. And just about any of the teacher-training programs you might enroll in elsewhere in the state of Illinois would have some contacts there that would help you get a job there after graduation, if not a student-teaching semester there before that!
Maybe also applying for something like teach for America in Chicago when you are a senior. A former student of mine did that in Baltimore, and it helped pay for Master’s, I believe.