Need help for creating school list for my son

aunt_bea
Wed, 21 Sep 2022 00:19:59 +0000

thumper1:

GAME_GO:

I need to borrow money though

Only you can determine if this is a financially sound decision for your FAMILY…ad yes I am yelling…because this decision isn’t just about your students college costs. It’s about your family financials.

Figure out how much you need to borrow. Then calculate the repayment amount. Right now, start putting that amount in a separate bank account. See if that is sustainable.

If you can afford $80K per year, you will NOT be eligible for a CalGrant.
If you are low income, however, then you should apply for a CalGrant. Please note that the CalGrants can only be used at a California university. The CalGrants are funded by the State of California for universities in the State.

I would not recommend that you take out a loan for $80K per year because your family will suffer financially if you cannot afford it.

If you think you can borrow $80K per year, and your income and collateral do not match, then you will have a problem because the banks and loan companies will only loan you enough money to cover how much your property/collateral can bring when sold.

The first and second year, you might get a loan. The third year, you may be rejected because you wont have enough “assets” to cover the loan. Your son wont be able to finish his degree because you will not be able to borrow more money.

With CS, it does NOT matter WHERE your son goes to school. Trying to get into a top school wont change his income. But if you want to brag about where your son got in, then that’s where you will pay lots of dollars for a piece of paper. No one cares where you go to school except the parents. The job is exactly the same job.