I don’t have a job at the moment and my parents are not going to help me that much with college, give or take a few 100 here and there. My parents have bad credit so the PLUS loan isn’t much of an option(also my parents have been sleazy in the past with money that belonged to me and my brother, so I wouldn’t trust them with that loan anyhow) and I’m not too educated on loans so I don’t know how much money the loans directly given to me. All I know is the perkins loans allows up to $5,500 and the Stafford loan allows $3,500 with $1,000 increases every year until the third year. The unsubsidized Stafford loan may not be much of an option for me seeing as I believe they want you to pay the interest while in school, and I’m not sure if I could do that.
As an example I looked up buffalo state(this is the cheapest of the state schools I can MAYBE get into), Their average net price is 11k-14k after all aid not counting the excelsior scholarship which would just finish the tuition payment after the pell grant and NYS tuition assistance program. Is this a gap I can pay with additional private loans and scholarships, or am I kind of screwed?
I’m wondering if I’m better off going to a CUNY 4 year or community college for 2 years while (hopefully) working and saving up money to transfer to a state school. Possibly old westbury as I could commute from home to there and back. The reason I’m set on going to a state school is because i’d prefer a campus environment(although buffalo and old westbury are partially commuter schools). Am I too worried about the college environment, is saving money more important? Any advice would be greatly appreciated. Thank you for reading.
You are misinformed about a number of things:
- As of September 30, 2017 Perkins loans are no longer available.
- Stafford loans start at $5,500 for a freshman and increase to $6,500 for sophomores and then $7,500 for juniors and seniors.
- Interest on the unsubsidized part of a Stafford loan accrues while you are in school, but you don't need to start paying until you are no longer a student.
The excelsior scholarship (which only covers tuition) is a last payer.
The scholarship does not kick in until after you have used your TAP (NYS aid that covers tuition) and Pell. If you have any left over tuition after applying your TAP and Pell, then you can use the excelsior scholarship.
Even if you get full TAP, Full Pell and use your $5500 loan, you will still need about $4k just to meet your direct expenses. You still need to get to buffalo, buy books and have sheets on your bed.
Were you eligible for EOP? Did you apply to any schools through EOP/HEOP?
If you are a NYC resident, of course you are better off going to a 2 or 4 year CUNY. It will be less expensive because you will be able to live at home. Did you apply to CUNY? Did you apply for SEEK/College Discovery?
If you don’t have the money for room and board, you can attend not a school where dorming is required.
What is your GPA/SAT?
I didn’t apply at all yet since I need my high school transcript and I want to figure out costs first. I’m not eligible for EOP nor SEEK unfortunately. My gpa/sat is 2.2/1020 on the old SAT. So my grades are not so great either, which is why I was considering 2 years, saving up and transferring.
I think you should consider the community college option. Is there a reasonable commute from your home?
You may be better to apply to a two CUNY school through ASAP. this way, your tuition will be paid, you will get free books and a free metro card. Depending on your EFC, your TAP may cover the tuition and your will receive your PELL as a refund. RIght now, what you need to do is put some distance between you and your high school grades. ASAP can help you build on the skills that you need to be successful. In addition, every 2 year CUNY has articulation agreements with 4 year CUNY and SUNY schools.
If you do well at the 2 year CUNY, it is even possible that you can be accepted into the CCTOP at NYU, which minimally gives a half tuition scholarships and some very generous fiancial aid (when NYU is known for not being generous on financial aid).
I will definitely look into everything you mentioned. I have heard about ASAP so I really appreciate the info you’ve given me. And yes, I plan to do as well as I can if I go this route. I messed up in high school due to personal issues and I’m ready to make up for it.