<p>How does everyone feel about student taking on 27K max. stafford loans to be able to attend OOS private LAC which allows S to continue to play football? As parent we stated that we would pay for t/r/b up to 25 k per year but S would have to pay for books/supplies/campus exps. We laid out plan when S would need to work all summers to support his exp. and to at minimum pay interest back on loans thru 4 years. He also has w/s at 2.5k a year to help with fees and loan paybacks hopefully.
Does this seem "very’ doable for S? hoping worst case would be 15 -20K loan balance at grad but potentially better if he gets a good intership at some point in 4 yrs.
We told S all along we would pay everything if he would stay local and go JC and then transfer to dream school of UCB. But his desire to play sports and have the 4 yr. experience he has chosen this partnership and will attend OOS lac in fall. Feedback if this seems (27k max. loan but hopefully) better seem reasonable? Thx</p>
<p>The Stafford maximum is set at a figure that someone has decided is reasonable. Most parents here would advise not to go past it. If the budget is workable with no more debt for anyone than the Staffords, it would have been acceptable in my household.</p>
<p>We did the same thing for S#1 who was able to attend a top LAC and continue to play hockey. He recently graduated with 15K in student loans which we feel is quite reasonable. He was expected to work every summer and pay for all his school living expenses, including books, food outside the dining hall, etc and did so</p>
<p>He was able to get an entry level position in his field of interest. He lived at home for 9 months after he graduated and was able to pay down his loans to about 8K now…he just moved into his own apartment with friends and is saving his money for part time grad school this fall so he is not paying his loans as aggressively now</p>
<p>DS is doing it for baseball. He has a nice merit scholarship and it taking out a Stafford loan and we’re paying the rest. I think as long as you don’t go beyond the Stafford max, it should be okay.</p>
<p>Depends on the quality of the LAC. Amherst, Williams, Swat or a dozen others, yes. But honestly, if it’s not a high ranked school I’d hesitate as UCB will be much better for jobs than an average LAC if his future is in CA.</p>
<p>We decided that the Staffords are up to our kids as to whether or not they want to take them. We put down on the table what we can pay each year. The difference has to come from them.</p>
<p>They have each learned that going up to the wire in what one can pay is not a good idea because each one has had things happen where the cost was higher than planned. Without leeway, it can be a rough go. My younger one is borrowing this year, something he originally was not going to do but some opportunities, problems and situations have made it a necessity. We and he are just grateful that the option is there.</p>
<p>thx for the feedback.
Waverly, yes I’m concerned about that also as the LAC he is going to is not of the level your stating, but none of those schools play a brand of football that allows S to possibly compete for D3 national championship. Having football networking/alumni can have its benifits also. Also there is price to be concerned about also an our current UCs which he was excepted to would of cost more to attend than LAC. We sure hope S has good opprtunities to work off loan prior to graduating.</p>
<p>We let each of our kids make their final decision and supported them when they made them, though none were what i would have picked for them. It ‘s a great gift and a valuable thing to have the kid having made that choice. A gift to him/her and when things get rough or go wrong, which happens, he will have the knowledge that this was his choice. It’ gets very nasty fast if the choice was foisted on them</p>
<p>I would not expect any kid to work off loans while in college. Especially not one playing a varsity sport! I don’t think Staffords should be hard to pay back. They are modest. But if he’s going to be a football playing history major as opposed to an engineering or accounting major, and it’s a mediocre LAC where you don’t think he’ll get a high enough GPA for a top grad school, I’d seriously consider the UC route. There are many top LACs with D3 football. I’d feel much better if it were one of these.</p>
<p>I guess we can disagree. I think students working a few hours a week is good for them. S will be studing econ and I am confident as a current 4.0 gpa student he will do well. Lets face it, it only gets tougher after school in the real world.</p>
<p>I think most kids can work a few hours per week for spending money. But to start paying on loans is unusual.</p>
<p>It only gets tougher after school? It depends on where you go and how you do…</p>
<p>Looking at your post, you seem to be talking about Linield. That is not a school I’d want my kids taking loans for. The football team may be fun, but it won’t get him anywhere in the future, nor will their academics compared to even a low tier UC.</p>
<p>Wav, i would b interested how you base your opinion from? Do u no grads from the school? Curious how you can be so confident that a linfield grad cant turn provide great oppotunities.</p>
<p>Some jobs are made for study time. Like checking ids or work in a gym. You bring your books and study.
But my son had to quit his job this year because he ran into some problems with his courses and needed the hours to spend studying and going for extra help. An unexpected research paper assignment just cinched it for him. He did not feel he could keep up the grades with the work commitment. so he sadly let the job go. He was so happy and proud to have gotten it and it paid well, IT was not an easy decision. </p>
<p>You can’t count on working, you can’t count on straight A’s. You give it all a go, and if the kid can manage it, fine, otherwise you try something else.</p>