Senior's College Choice

happymomof1
Tue, 10 Apr 2012 20:28:09 +0000

The only loans that you can take out on your own are the Staffords. Everything beyond that will require a credit-worthy co-signer OR that a parent takes out PLUS loans. If your mom and step dad aren’t chipping anything in, and your dad is limited to that $15k, it looks like Xavier can’t work for you.

You need to look up the total Cost of Attendance for Xavier and AZ U, not just the Tuition and Fees. Then run the aid offers here: [FinAid | Calculators | Award Letter Comparison Tool](Award Letter Requirements - Finaid)

Right now, the entire cost of attendance at U of AZ appears to be covered. What your dad would pay would take care of room and board, the scholarship and a Stafford Loan would cover the tuition and fees, and you yourself can take care of the books, materials, travel, pizza, etc. with your own savings and what you can make with a summer job and school year job. That is a really good deal.

Remember, the total cost of attendance is likely to go up about 5% each year. You need to find out what happens with your scholarships. Do they increase along with increases in tuition and fees? Do you have to keep a certain GPA to keep the scholarship? That information will help your family decide too.

Wishing you all the best.