<p>EST State Work-Study
Fall 2012: 1350 Spring 2013: 1350 Total: 2700</p>
<p>EST Ford Fed Sub Loan
Fall 2012: 648 Spring 2013: 648 Total: 1296</p>
<p>EST Ford Fed Unsub Loan
Fall 2012: 2102 Spring 2102: 2102 Total: 4204</p>
<p>EST Ford Fed PARENT Loan
Fall 2012: 8231 Spring 2012: 8231 Total: 16462</p>
<p>COA: 24,662.00 with housing, books, transportation, etc. This cost should be lower, but it is an estimate.
EFC: 20,666.00
Financial need: 3,996.00</p>
<p>My parents was wondering what is the best pay to pay for this? My parents can contribute around 12k per year.</p>
<p>The school is not giving you a thing. Not one red cent. Not only that, they cannot guarantee that you get the Ford Fed Parent Loan, otherwise known as PLUS. Your parents have to apply for it. That is just an option for borrowing for them that they have thrown out there and they could borrow that amount or more or less if they are thinking of borrowing. </p>
<p>The work study is not guaranteed; you’ll have find the job(s) to fill the hours and that’s about 500 hours there. You get the money as you earn it. </p>
<p>I hate it when colleges package things this way to look like they met need. Very deceptive.</p>
<p>Your parents are to be congratualted, in being able to come up with $12k for you. Hopefully, you can come up with some money too, to get started in the school year. Save up from summer earnings plus whatever you have in the till already. Then take out your loans–you’ll get half each term, and work off the rest. It’ll be close, but if you can get a decent hunk of change together from your savings, it’s doable.</p>
<p>As far as your parents taking out the loan, that is up to them. It has an origination fee, the interest rate is not that great and it starts accruing interest right away. </p>
<p>Look at some local commuting optins and think about whether transferring to the school after sophomore year is a better, more affordable option.</p>
<p>thanks for responding! </p>
<p>what is the best loan company that parents should take out of? They want something like take 12k loans, and pay 12k a year. </p>
<p>I will graduate in three years since I was a student here this year as a PSEO student, so my parents want me to finish up my UG at the U of M. Of course, I will work this summer and will live off-campus during my remaining years. My parents advise me to live on-campus at least the first year.</p>