Non-Custodial Parent Contribution Penalization

notaprincess
Sat, 06 Apr 2013 11:55:44 +0000

I applied and was accepted to four schools. Our EFC is $13,047. Here’s my financial aid at them all:

OSU
CoA: $25452
Provost Scholarship: $3000
Fawcett scholarship (only for freshman year): $7000
Federal subsidized loan: $2825
Federal unsubsidized loan: $2675
PLUS: $9952

Case:
CoA: $57,928
University scholarship: $20,500
University grant: $8,000
Federal Work Study: $2,000
Federal Unsubsidized loan: $2,000
Federal Subsidized loan: $3,500
Federal Perkins loan: $1,000
PLUS loan: $6,110

Ohio University:
CoA: $25,442
Gateway scholarship: $2,000
Russ Vision Scholarship: $4,000
Federal Subsidized loan: $3,500
Federal Unsubsidized loan: $2,000

University of Akron (Honors College)
CoA: $21,934.48
Scholarship for Excellence: $5,000
Honors Scholarship: $3,000
Federal Unsubsidized Loan: $5,500
PLUS Loan: $5,978

My dad is undisciplined when it comes to spending. He would have a very hard time setting aside $13,000 a year, which is why he wants to do PLUS. I still don’t understand his reasoning exactly. His credit is also not great so he would have a hard time securing outside loans. My parents have no clue what to do about the whole situation. I bought them How to Pay for College Without Going Broke and they never even opened it. Not only am I lost but I have no guidance from my parents. My dad is adamant on me attending OSU. However, I try to reason with him in regards to PLUS loans and what will happen after my freshman scholarship is gone. He won’t even listen to me. I do not want them to have $40,000 in PLUS loans and all the interest built up over my four years.

Thanks for all the replies! And thanks dodgersmom, I will contact Case next week.