my situation, please respond.....

<p>Ok, im ending my second year at Penn State University. I might have 3 years still to graduate. My parents both dont work- my father retired about 2 years ago.</p>

<p>The costs of tuition/room and board is around 20,000 a year, i am a Pa resident. The reason my dad retired is because my relative left me money when he died and that is what is funding me right now to get through school. I currently have about 50,000 in a savings account, so if what i plan comes true and im there 3 more years, that would be around 60,000, that does not include if there are any more significant tuition hikes in the next few years. SO i would be 10,000 in debt upon graduation.</p>

<p>my gpa for this semester might be 4.00 and this comes true then my cum gpa will be around 3.40( i did not do well 1st semester).</p>

<p>Is there any sort of combined need/academic scholarship i could obtain. Or could i get some sort academic scholarship based on 3.4cum gpa. Also, because there is no present income coming in because both of my parents, would that qualify me for financial aid just based on that or do they look heavily upon your savings/investments. I know my pop has alot of stocks, Ira accounts and such, so this might discourage them from offering me any sort of assistance.</p>

<p>Please give me your thoughts</p>

<p>any retirment funds are not looked at to determine your efc. i know that for sure. sorry about my lack of knowledge in other areas. by the way, im sure u can get scholarships from outside scources. but ud have to get a lot to cover 10k</p>

<p>Sure, i wont be in tremendous debt for sure and i may sound selfish when many people have no money to go to college and are on loans entirely.</p>

<p>THe thing i worry about is being able to obtain and own a house ASAP upon graduation. Sure i probably will live with my folks for the first 2-4 years after graduation, pay them a small amount of rent- just to show responsibility LOL! And with the rest, save it all to eventually put a down payment on a house.</p>

<p>I know too many people that get involved in the viscious cycle of renting apartments after graduation. Because they have a decent job, they have enough money from their job to rent a decent apartment but dont have enough $ to put any sort of down payment in ownership of a house because the money they had precluding college was completely depleted and gone to pay for tuition. Or to go a step further, they had no money for college at all and now are over $100,000 in loans now your in a big mess paying off your loans when you are a old person in a nursing home, its really sad.</p>

<p>Also renting just discourages and removes the prospects of ever owning a house because the money you could be saving to eventually use a down payment for house is being wasted and thrown away to pay for the rent, renting is the worst thing because you have no equity. I guess your other option is you could live with your parents until you got married or in your 30's but not's not real desirable either...</p>