Stuck in a financial dilemma...

Mwfan1921
Fri, 19 Apr 2019 02:29:17 +0000

A $7K EFC on a salary of $70K doesn’t seem unreasonable in terms of the calculation (reasonable in terms of reality is another thing entirely). Losing the Pell grant is obviously material, I assume your parents’ income , or yours, increased in 2017?

Regarding student loans, the maximum a student can take over the 4 years of undergrad is $27K ($5,500 freshman year, then $6,500/$7,500/$7,500). Additional loans can be Parent Plus Loans (taken out by the parents), or private loans in the parents’ and/or student’s name. But a student private loan requires a co-signer, which is typically a parent.

One way to cover the loss of the pell grant, is for you to work full-time this summer, and part-time during the school year. You should be able to earn $6K doing that.