Totally lost, need guidance!

mom2collegekids
Sat, 22 Dec 2012 11:47:51 +0000

You’re a senior and it’s late in the app season. If you were a soph or jr and just coming up with schools to consider, then maybe not considering money is ok. But, unless your parents will pay all costs, then ignoring the financial aspect this late in the season is VERY unwise.

You may be thinking that you can borrow whatever you need. WRONG.

YOU can only borrow the following amounts:

frosh $5,500
soph 6500
jr 7500
sr 7500

As you can see, those amounts won’t go far…certainly will not pay for a private school or even a “sleep away” instate public.

More to the point, your stats won’t get you admitted to the schools that give the best aid. So, the amount that your family will pay along with a 5500 student loan will largely determine where you should apply and where you’ll be able to afford to attend.

So…since it’s late in the app season, AND submitting apps takes lots of time and money, it makes no sense to be considering schools that will not work.

Certainly you don’t want a handful of unaffordable acceptances this spring…do you???