<p>I’m headed to Elon in the fall, and the first tuition bill (part of a ten-payment a year plan) comes this July. I am about to accept a Subsidized Stafford Loan of $3500 my freshman year for a loan period of the fall and spring semesters. This money will come in two equal sums ($1750), dispensed at the beginning of each semester (August/Spring). So unfortunately, I will not be able to put it towards my first tuition bills. I have begun the loan application process to pay for the massive expenses I will incur over the next four years (The Stafford Loan will only account for a small portion of this debt.), and have acknowledged and accepted that I will have loans to pay off for 10-15 years after college. My parents have determined and told me what their contribution will be to my education ($10,000 per year), and I have recieved scholarships and grants the further reduce my expenses, but I still need to take out a large loan. While applying for a loan from Wachovia (for which my father will co-sign), and in researching student loans in general, I found that, as a 17 year-old, I cannot legally assume the debt of an education loan (at least in MD). I have to wait until I am 18. I turn 18 in early September.</p>
<p>If I cannot get the funding for my education until September, what am I supposed to do for the first few tuition bills? I feel a little lost. All help is appreciated.</p>