Any tips on the college financial aid process?

[OneGrassRoot]

Now that it's the first of the year, I was able to start the application process at FAFSA.org for my daughter, who will graduate from high school this year.

I've put off even thinking about this process for a multitude of reasons: I dread her leaving, I dread more financial stress -- though my income status and lack of assets should FINALLY come in handy for once. ;)

Now I need to really get on the ball and am wondering if anyone has suggestions of where else I should be turning for assistance, beyond the traditional routes we know about.

We're in North Carolina but she's applying to colleges in various states. Other options may be dependent upon where she ends up being accepted, right? I should then check with that particular school's financial aid department for specifics?

I'm a negligent idiot about all of this.

:(

Thanks for any suggestions to point me in the right direction. If there's some sort of magical portal where All Things College Financial Aid can be found, I'd sure love to be pointed in that direction.

:)

Oh, Happy New Year to you DUers!

:grouphug:

[mmonk]

1. Be sure to check available scholarships in her field of study

at the universities she is looking into. Many well heeled estates and individuals that have been connected to a particular school give scholarship money by semester. My son at NC State received quite a few, even without applying and filling out a list of particular need.:hi:

[Posteritatis]

3. With the extra note that you should *regularly* check for available scholarships

There's a typical set of annual ones most places have, but a lot of universities have everything from financial need bursaries to one-shot windfall scholarships that come and go every semester.

[mmonk]

5. Agreed.

[OneGrassRoot]

10. Will do. Thank you both! :) n/t

[fizzgig]

2. check out fastweb.com

there are all manner of scholarships there. if she hasn't, have her go to the counseling office at school, they should have plenty of information there.

good luck to your daughter

[OneGrassRoot]

12. Thanks very much! :) n/t

[Statistical]

4. You should STRONGLY encourage her to go in-state.

She likely is dreaming of her "super school" and it likely isn't in NC. The reality is most education is the same. No employer is going to care other than she got a degree from a respected institution.
The out of state tuition prices will rack up tens of thousands of dollars worth of debt that will do her little good in the future.

Now there are excemptions to every rule. One college may be more expensive but offer private grants that knock the price down. Still generally speaking she is better suited going to school in state (NC has numerous good colleges), and graduating with tens of thousands less in debt.

[OneGrassRoot]

17. With the major she is pursuing, it's a little trickier...

Now, take a deep breath, because her field of study alone will cause you to tense up.

Drama/theatre

:rofl:

I know, I know....but it has been her passion and focus throughout her life. She fully realizes the impracticality of it in a logical world, but no field of study feels "safe" any longer, so I encourage her to follow her heart.

She will minor in something more practical, however. ;)

The out-of-state costs will surely be a factor. She is applying to one NC school, though there are others I wish she would consider.

Weighing the pros and cons of the options once we know where she's been accepted, what they offer, etc., is definitely in our future.

I'm going to encourage her to apply to a few more NC school though, with the financial aspect so much in my face as of today...now that I AM facing it. ;)

Thanks. :hi:

[mmonk]

37. My cousin's son worked on props for productions including TV's

Dawson Creek and ended up in some acting roles.

[OneGrassRoot]

42. That's cool! :) n/t

[Nikia]

20. Some of the better colleges offer better aid to poor students

Harvard and Yale offer free tuition to students from families making less than a certain amount. There are other private institutes that aren't quite that good but close to it. It could be smart to have a financial safety school, but some good schools can be as good or better than in state schools, depending on the state.
I feel privleged to have graduated from a top tier liberal arts college ten years ago from which I received over $10,000 per year in institutional grants in addition to Federal aid.

[Statistical]

23. Agreed which is why I said some exceptions exists.

However for every single story like yours there are 50 where student ends up burdened with $150K+ worth of loans when they could likely achieve same earning power with $50K in loan. For most people it doesn't make economic sense. Kids however aren't thinking lifetime economic ROI% they are young, and idealistic, and think any amount of loans will be worth it because they will achieve their deams and get rich doing it. :)

Still you are right sometimes it does work out. Most students would be better served attending a reasonable cost public in-state university.

[frazzled]

21. Not necessarily

You may find that you will qualify for better need-based aid at a private college or university somewhere than at an in-state school (despite the tuition being lower. You may end up paying the same or less at a pricey private college elsewhere, especially if your income is very modest.)

Thus, for example, the threshhold for qualifying for need-based aid (out and out grants, not loans) at UNC Chapel Hill is 200% of federal federal poverty line ($24,000 to $37,000). If you make more than that, you're not going to get any non-loan financial aid. If you were to go to Rice University in Texas, for example, the threshold for receiving aid would be $80,000 in income. http://en.wikipedia.org/wiki/Student_financial_aid_in_the_United_States

Thus, for example, when our daughter was applying to colleges her final choice was to go to University of Wisconsin-Madison at in-state tuition rate or a small, fairly elite private college out of state whose tuition was much higher. But the financial aid package offered by that private school made it about the same price as the in-state state public school.

All this said, two provisos: beware the financial aid packages offered you. Both our kids got offered very good aid packages upon acceptance. But after filling out FAFSAs in subsequent years, that aid shrank. We were not very aggressive in arguing with the schools after that, but we felt we'd been bait-and-switched. Make sure your package covers all four years (ours seemed to say so, but technicalities did not apply).

Also, you will be surprised at how poor you have to be to qualify for out-and-out aid. (Loans they are happy to give you.)

Lastly, don't even bother with merit-based aid. It really doesn't exist. Our son won a National Merit Scholarship, which means you are in the top one-half of one percent of all students nationally taking the PSATs. The award is $2,000 (which doesn't go far these days). The trick is: the minute you get the "scholarship" it reduces your financial aid package from your school by the same $2,000! My son was furious when he learned this, and wrote a testy letter to the National Merit people--it ain't a scholarship if it counts against your aid.

[OneGrassRoot]

44. Good stuff here...

Thanks very much for taking the time to share, frazzled!

I think that should be my screen name for the next year: frazzled2

:hi:

[SheilaT]

64. There are a number of schools out there

that will give a free ride to National Merit winners. It may have been necessary to name those schools around the time the PSAT is taken, but even afterwards, if you can convince the school that it really is your first choice, there are ones with give an amazing amount of aid.

The schools that offer this are generally the smaller liberal arts colleges.

My son who was merely a Letter of Commendation recipient in the National Merit competition, got offered scholarships out of the blue from several colleges.

[frazzled]

67. Unfortunately ...

he wasn't interested in any of those schools. Being a mathematics major, he wanted to be at a large research university. In the end, he went to the school he wanted and chose to graduate in three years (since he had enough credit). It saved us a year's tuition, but it was not a wise decision in the end. He really missed that last year of school and felt he would have made a better decision about grad school had he had those last two semesters. In the end, though, it probably was an okay decision. We are going to be paying off that education (even the three years) for many years to come. But we don't regret it: college really changed him as a person, and it was really worth every penny.

[SheilaT]

71. I understand about not being interested

in the schools that might have given him good scholarships. When my oldest son got a couple of totally unsolicited scholarship offers, I was very touched, even though they were from schools he had no interest in. I made a point of telling him how good these offers were, and that just because he was turning them down, he needed to be very appreciative of them.

[bluestate10]

29. Duke is in NC. Duke is a great university.

He can have his daughter apply to schools like Harvard, Princeton, Yale, Stanford, ect. All have endowment programs that allow them to help deserving students from poor and middle class families. He should not restrict her choice to instate, she may actually be better off going out of state.

[laylah]

6. Have you checked into

Pell Grants? Sallie Mae? Have you googled scholarships? The last is the most time consuming, however, from personal experience, well worth the effort.

Also, from personal experience, if you can avoid student loans from private lenders, DO SO. I cannot emphasize that enough!

:hug: Good luck to you and Taylor.

Jenn

[OneGrassRoot]

18. Yes, I'll be checking out Pell Grants and other options...

There isn't a whole lot available, that I've found for her field of study (theatre), but I'll keep looking. There are a few good sites others have already suggested in that regard.

Thanks, Jenn. :hug:

[Nikia]

22. Pell grants are part of FAFSA

You don't have to file additional paperwork for it. They determine whether she is eligible based on FAFSA.

[OneGrassRoot]

45. Nice! Thanks again. :) n/t

[PA Democrat]

7. I would encourage her to consider work study if offered.

The jobs are usually on-campus, and they will work around your daughter's class schedule. My son currently works as a faculty assistant. His job is 2 blocks from his apartment and he has made good connections with professors and other professionals in the graduate school program where he works.

[OneGrassRoot]

19. Ah, that's cool. That was a question at the FAFSA site...

and I checked "yes," that she'd be interested in this option.

Thanks for that. :hi:

[FreakinDJ]

8. I am Financing my son's Bachlors

Ya - I know, the rules have changed, there are no more Grants or Scholarships thanks to the "Belt Tightening" by State and Federal Gov, but I still want the kid to have his education.

He was tested at Mensa level Intelligence in the 5th grade, it would be a crime for him not to capitalize on that. So his wishes are to pursue a BS in Mechanical Engineering at 1 of the nation's top 10 schools for engineering. Problem is my modest level of income precludes him from most funding programs.

Solution - he is taking all of his Gen Ed (UC Requirements / 1st 2 years) at the local Community College. He met with a Guidance Councilor who outlined all the transferable classes he would need.

2nd. He also has maintained a 4.0 GPA which further entitles him to a HUGE Discount at U.C. Davis.

3rd. I'll finance the remaining 2 years at U.C. Davis using funds out of my 401K retirement account. There are little known college Education Tax Deferred Savings plans. I get a 1 time draw on my retirement savings so I can transfer the needed amount out of my retirement fund directly into the college savings fund without paying the taxes. From that account he'll be making his tuition payments.

Additionally - He'll be moving back home

Right now the Community College work load is light enough on him where he can work 30 hrs per week and rent a house with his Buddies. A nice bit of freedom I can respect. But he knows full well the work load of 17 / 18 units per semester at U.C. Davis will tax his time to where can no longer afford that luxury. He is willing to forgo the freedoms of not living under Dad's Rules long enough to get his degree

[OneGrassRoot]

26. Wow....

It is such a sad state of affairs that someone with your son's qualifications can't get a full scholarship to the college of his choice. :(

It is a very different world from when I went to college; when a 4.0 and great SAT scores could essentially secure a scholarship. Now I'm seeing kids with AMAZING credentials not even get accepted into the colleges of their choice, let alone have any significant financial assistance in doing so.

It's craziness....

Best of luck to both you and your son!!! And thanks for sharing your experience. :hi:

[FreakinDJ]

40. Prestigious Colleges have turned into a "Pay to Play" racket

Soon we will be hearing how the Fortune 500 Companies no longer look at the name of the college, but rather scour the transcripts to asses the individual's actual credentials. It is already happening in America. My wife possess a BS in Architecture and before taking a Management position in a school for the Developmentally Disabled, it was common place for companies to ask for her transcripts.

They want to see - did you actually WORK for the sheepskin

[OneGrassRoot]

48. Interesting. Thanks again. :) n/t

[cilla4progress]

55. I'm in the same boat as One Root --

daughter graduating this year, scratching our heads about financial aid, admissions. My parents left my daughter a college fund in their wills when they died 12 years ago. It's now enough to cover about 3 years at our state university. I transferred enough for her 1st year out of mutual funds into my checking account (!) at my credit union, which offers 3.76+% interest, just to lock it in (not a bad rate either -- considering it's secured. Go credit unions!). Based on what you are saying though, I'm thinking I should transfer the rest into my IRA and take advantage of the "College Education Tax Deferred Savings plan"? Or is too late? I'll be starting FAFSA later today!

Thank you!

[FreakinDJ]

58. You'll have to consult an IRA expert how to do it properly

I'm lucky enough to have the assistance on my Union Health & Welfare office set it up for me

Additionally - "Transfer In Agreements" between the Community Colleges and California's UC schools are a GREAT way to ensure acceptance into the UC of her choice. Which also begs - tell her to get 1 or 2 years at community college and use the money she saves to "Buy a Car"

[cilla4progress]

62. We are in Washington state

and they have Running Start here, which allows dual college and hs credits from junior year of hs on. She is partly on her way to an AA, but didn't take full advantage in her junior year (she's a "cautious" starter + didn't want to cut short a 4-year university career). The hs Running Start credits are "supposed to" transfer over - the community and state colleges have pretty good coordination, but I was advised to follow-up with the universities to be specific.

Thanks for your suggestions - your son is lucky to have such an astute parent...wish I could say the same for my daughter! :scared:

[JanMichael]

9. Couple of questions...what is she interested in majoring in? Is there anything

that stands out that could be scholarship material...like sports, science, etc? My wife works at one of the major public institutions in NC, and there really isn't enough information in your post to make suggestions-

If I had a child who was a solid A or B student, I would consider doing the first two years at a community college; there is a program in NC where they can meet the prereq's of entering as a junior with ALL of their foreign language and math requirements taken care of (two years of Spanish, French, German or Latin as opposed to more)...the NC community colleges have great reputations, and there is an honor society associated with them (PTK) that looks fantastic on entrance forms. Oftentimes with good grades, tuition at these colleges will be paid for by the state. Also, it's kind of a "back door" entrance to a better school such as UNC-CH or State....some of the competition gets knocked out by the junior year.

If you want to send a PM feel free!

[OneGrassRoot]

27. Thanks, I will! :) n/t

[Nikia]

11. Check with the college's financial aid offices

For some colleges, the FAFSA and the admissions application is all that is needed to qualify for all possible aid and scholarships that the college offers. Some colleges might have additional scholarships or programs that need more. Also check to see what their outside scholarship policy is. Some colleges will actually reduce institutional scholarships if you get additional money so it might not be worth spending hours working on outside scholarship forms.
As for outside scholarships, there are books on nation wide scholarships that someone gets, but they might not be a good use of time if thousands of other people are applying for them. Your high school guidance office should have information on local scholarships.

[OneGrassRoot]

28. Thanks, Nikia!

:yourock:

Much appreciated. :hi:

[taught_me_patience]

13. Go in-state

If she wants an out-of-state experience, she can go on national student exchange for a year. I did the national student exchange and it was awesome.

Go to https://studentloans.gov/myDirectLoan/index.action

[OneGrassRoot]

30. Thanks so much...

I'm going to share this thread with her and all the wonderful wisdom and experiences shared.

I appreciate you chiming in. :hi:

[bemildred]

14. No student loans.

If you can't afford it without borrowing, then wait until you can.

Happy New Year and good luck to your kid.

[OneGrassRoot]

31. Thanks, bemildred. I hear you. ;) n/t

[LiberalEsto]

15. As someone stuck with my kids' student loans

I can say a number of things in hindsight.

We are paying $502 a month on one kid's loans (she never finished and earns very little as a nanny) and will soon be paying close to $300 a month on the other one's loans as well. She's expecting to complete a two-year associates degree this spring. Both our kids dropped out of multiple colleges, including out of state schools that cost an arm and a leg.

- Do whatever you can to avoid getting private student loans. You can't discharge them even in bankruptcy.

- Do two years at a local community college, then transfer to a 4 year school.

- Avoid paying out-of-state tuition. It isn't worth it.

- Forget about pricey prestige schools. They aren't worth going into decades of debt for.

- If the kid gets a decent scholarship offer, crunch the numbers and see if it's worth using compared to the cost of a community college plus 2 years at a 4-year school.

Our older daughter won a full 4-year tuition scholarship to Salem College in North Carolina, but became homesick (we're in Maryland) and dropped out after the first semester. Then she went to our community college for a semester, but was bored and unchallenged, so she transferred to my alma mater in another state and did two years there while racking up enormous loans. Then she came down with a serious bout of depression, came home and transferred to the University of Maryland, but was still struggling with severe depression and quit after one semester.She is just 3 credits short of her BA.

Our younger daughter went to UNC Greensboro for one semester but dropped out because she was homesick. Then she went to the community college, then to U of Maryland, and moved to southwestern Virginia to live with a boyfriend who attended Virginia Tech. She went to a community college there but we had to pay out of state tuition. They broke up, she moved home and was diagnosed with depression and anxiety disorder. For the past couple of years she's been working on an associate s degree, first in elementary math ed, then switching to general studies when she saw how many teachers were being laid off everywhere. There were problems with schools accepting transfer credits all along the way. This semester she is taking her final 3 credits and a class in substitute teaching. Then she hopes to work as a sub until she figures out what to do.

Unfortunately depression runs in the family.

[OneGrassRoot]

32. Wow, thanks for sharing your experiences, LiberalEsto...

I really, really appreciate it.

Good luck to you and your daughters. And you.

We all need it.

:grouphug:

[Statistical]

43. The bankruptcy part is VERY important.

This isn't a credit card, or a foolishly bought car loan, or even a zero down 120% LTV subprime adjustable mortgage.

This is a life debt; it never goes away. Also it isn't just private student loans; but all students loans (all private, all federal, all parent) that can NEVER be discharged in a bankruptcy. Period.
College age kids (and most parents) don't understand the severity of it. This is a huge excemption for all other forms of debt on the planet. There is nothing like this. Hell even billion dollar corporate bonds or even pension funds have be discharged in bankruptcy but not student loans.

Even for people who think their student loans are "gone" because bank & collection company stopped calling, they aren't gone. The creditors can wait. In most debts time is on the side of the debtor. States have statute of limitations, eventually bad items fall off credit report. If you are patient enough with other forms of debt eventually they do "go away". Not student loans, unlikely any other debt there is no statute of limitations, no bankruptcy protection, no legal method to eliminate them. So eventually the banks "give up" but that just means they idle the account and periodically pull your credit. Once they see a change (like buying new car, or home, they attack If 10, 20, 30, 50 years from now the student is finally sucessful they will come back for that loan plus decades of compounded interest, fees, and penalties.

$80K in delinquent loans in 30 years could be $400K in debt.

[OneGrassRoot]

49. That is VERY important indeed....

There is no way I could apply for a private loan, even if I were inclined. I'm one of the statistics of those filed bankrupty five years ago now due to medical expenses (I've been self-employed, no coverage and no benefits of any kind for a decade).

Her father, however, is a different story. He's in a much better financial situation, so if any loans will be applied for, he needs to do it. My daughter is uber aware of financial stress, credit card debt, loans, etc., and doesn't want to be in the dreaded financial pit before even starting her life.

We have a lot of decisions and stress ahead of us with all this, but we're far from alone. Maybe this thread will help others in the same situation of confronting this for the first time, in this day and age.

Whew....

[Statistical]

51. Just remember it doesn't only apply to private student loans.

It applies to ALL student loans (private, federal, parent, etc).

If it is a loan for school then it is a loan for life. Period.

[OneGrassRoot]

52. Gotcha. n/t

[BuelahWitch]

16. Here's a good place to start with info

http://studentaid.ed.gov/PORTALSWebApp/students/english/index.jsp

It gives information on everything from applying for school to what aid is available to paying off loans to loan forgiveness programs.

[OneGrassRoot]

34. Sweet. Thanks! :) n/t

[JPZenger]

24. Recommendations

The following comments are not specific to North Carolina or your specific situation:

1. Don't assume that an out of state public college will continue to be affordable. State budget cuts may cause a public college to greatly increase out of state tuition. If there are additional state budget cuts (which will be common with so many GOP governors), a college is much more likely to jack up out of state tuition in future years than in-state.

2. Try to research how a college is handling financial problems. For example, some are ending some majors and have eliminated teaching positions. Some colleges are having large number of courses taught by nomadic part-time adjuncts. Some colleges have made it hard to register for some classes, because the number of sections have been reduced. You particularly want to know how they may be affecting the program that you want to study.

3. Look at data for each college on www.collegeboard.com, such as the percent of financial aid that is met by each college. Then, for more details, look at the "Common Data Set" for each college. You can find it on a google search. It has detailed info on financial aid, admissions, numbers of graduates for each major.

4. Check the financial aid policies for any aid provided by your own state. Many states offer a few thousand a year of state grants to many students, but don't offer much money or don't offer any grants if you choose a college in a different state. The national guidebooks ignore the state programs.

5. Always have applications into a couple colleges that are both financial AND admissions safeties. You never know if a family's financial situation will get worse.

6. Consider housing costs in the area, particularly if a college offers little housing for upperclassman.

7. If you have AP credit, carefully review policies for each college. Some colleges are very strict in granting AP credit while others make it much easier. Some only give credits for 5s, while other give credit for 3s. Some allow almost a full year of AP credit, while others make it hard to get 2 classes worth of AP credit. AP credit can easily save $10,000 or more of college costs.

8. To maximize aid, minimize assets in your kids name, and maximize the amount in retirement accounts. Pay down debt, as opposed to having large amounts of money in bank and investment accounts. Use 529 accounts, which have Federal income tax benefits and often state income tax benefits. 529 accounts are considered parent assets, so they count less against financial aid than money in a student's name.

9. Take out the maximum allowed amount of subsidized Federal student loans each year. The amount is limited each year, so if you don't use them freshman and sophomore year, you may be forced into taking out private loans your senior year. Don't take out non-subsidized loans until you really need them, because the interest starts adding up immediately and the rates are much higher.

10. The most merit based aid is often offered to students in the top 15% of the applicant pool of each college. If you want the most merit aid, it may make sense to go to a college that is somewhat less selective. Also, taking standardized tests a 3rd time may be worthwhile if it increases your scores and results in more merit aid. Some colleges are very much driven by US News rankings, and want to attract students with higher test scores.

[OneGrassRoot]

35. Wow, you're like Yoda!

I truly appreciate you taking the time to type all this out and share your wisdom.

Wonderful information.

Thank you so very, very much!

:hi:

[bluestate10]

25. Get in touch with the financial aid offices at the colleges and universities that

you daughter is applying to. Many have financial aid packages that you would never have dreamed of. Don't aim low because you think you can't afford to send your daughter to a top school, many schools like Harvard, Yale, Princeton, Stanford have aid packages for exceptional students from poor and middle class families. Start talking to the offices NOW, don't wait. Their numbers can be found on the official websites for the schools.

[OneGrassRoot]

36. Will do. That seems to be the most important next step...

to call the colleges she's interested in directly and see what's available on their end.

Thanks, bluestate10!

:hi:

[MineralMan]

33. The best financial aid is cutting the actual costs of your daughter's

education. The first step to that is to choose a local state-operated college.

Back in the early 1960s when I was about to graduate from high school, my parents, whose income was barely middle-class, made it quite clear that they could not afford to send me to some of the schools that had accepted me. I was accepted at MIT, Cal Tech, and Stanford. When they said they could not afford that, that was the bottom line. I switched to a state college that offered the engineering program I wanted, and went there. They could afford that, sort of, and I worked full time all summer in my junior and senior years of high school to help make even that possible.

Times have changed, but those realities are still the same. Any financial aid you can get will go much farther at a state-run college or university in your own state. It's not the optimal choice, perhaps, but it's usually a good choice. Even better, a college or university in your own community can save even the housing and other costs that increase the costs of a college education so much these days.

Will your daughter be disappointed not to go to the school she longs to go to? Probably, but reality is real. In the long run, it won't matter over the course of her life. College gives you what you put into it, and which college is less important than the student's own efforts.

Apply for all the financial aid you can. Search for financial aid based on things you might not have thought of, like your ethnic heritage, employment, any military service in the family, and more. There are scholarship programs that few even know about. Devote as much time as possible in researching financial aid and applying for every program that can contribute, even if the amount is small. It all helps.

But, start by cutting down the cost of that education from the very beginning. If your daughter can graduate with a minimum of loan debt, she'll be in the best position to begin her adult life.

[OneGrassRoot]

39. I appreciate your wisdom...

MineralMan. Lots of practical, common sense wisdom here. Thanks for chiming in. :)

I will dive into the more obscure aid and scholarship options, and some have provided links here where I can start.

Thanks again. :hi:

[MineralMan]

46. I wish you very good luck in your pursuit, and hope your

daughter has great success in college. Drama's a fascinating major, and is one that can lead in many directions...not just into the theater or film industry. Life's full of surprises, and most of us end up doing something we never even considered at the age of 18. Mine has certainly gone in unforeseen directions, and has been fascinating, if not particularly financially successful.

I wouldn't trade the interesting life I've led for any amount of money. Truly.

[zen_bohemian]

38. Do you have a community college within commuting distance?

One of my kids did the first 2 years at community college in our town, to get the general classes out of the way, got an AA in liberal arts, which all credits were transferable. I would strongly suggest that, it's more cost effective, you will not have to pay for room/board if she is able to commute and live at home, university room/board is very expensive. Out of state tuition/room/board is VERY expensive. Just make sure the classes/credits are transferable credits to her chosen university in 2 years if you go that route, sometimes the credits will not transfer to selected universities.

Have your daughter check with the academic counselors at the school, they usually have scholarship information for students, apply apply apply for all scholarships that are applicable. I have put 2 kids through college. It's expensive. The kids had jobs, we have plus loans, they have loans.

On a side note, my first kid went away to university right out of high school. It's a HUGE adjustment for an 18 year old to be far away, I don't think they realize how much of a change it will actually be. So keep that in mind too.

[OneGrassRoot]

41. Yes, within a mile from here, actually...

which makes it NOT an attractive option from her perspective. ;)

I hear you though. It will be a HUGE adjustment, that's for sure.

Thanks for responding and sharing your experience.

:hi:

[OneGrassRoot]

47. This thread is a PERFECT example of why DU absolutely rocks!!!

I appreciate you all more than I can ever say. Thanks to DU admins and mods as well for making this community possible.

This is a wonderful, informative, diverse community; an absolute wealth of wisdom.

Thank you all!!!

:yourock:

:grouphug:

[mopinko]

50. the deal we have with our kids-first 2 years at a cheap school

because you are going to get a bachelors from a great school, and it will not have an asterisk to point out that you did 2 years at a community college. i whole heartedly endorse community colleges. i went to one, and it was a really great experience. also, they have to either live at home or pay their own living expenses.

look for scholarships specific to her field, but also to her life. my youngest, who will start college in the fall, also. she is working on a $10k scholarship for students with chron's disease. since her goal is biotech research, she is probably a good candidate. if she gets into her chosen school, which is not cheap, she will likely get a grant for chicago public school students. (the exception to the cheap school rule is that getting enough grants, etc, can make any school a cheap school.)

her school has done a great job of helping her get prepared. amazingly, a lot of the other kids are completely blowing it off. i can't believe it, but that is what we hope will allow her to come out on top.
talk to her counselors. they have a lot of info at their fingertips.

good luck.

[OneGrassRoot]

53. Will do...

The counselors at her particular school aren't very helpful in this regard but I'll keep trying.

I hear you about the community colleges; I'm a huge fan of them myself.

Best wishes to your daughter, and you!

:hi:

[tammywammy]

54. Fill out the FAFSA and community college

The FAFSA will detail out any Pell Grant she'll get. You'll need to wait until you get all your end-of-year earning information in to fill it out. It takes an hour or so the first time, but subsequent years it's much faster. On the FAFSA you can pick the different schools she wants to attend. You'll see how much, if any, grant money you get and then how much in federal loans you qualify for.

Then community college is the way to go. Two years on the cheap cheap cheap. Then she can transfer to another university to complete her degree. Even if she wants to end up at an out of state college, doing the two years at the community college level will save a ton of money, if she's going to have to take out loans to finish up. Student loans never ever go away so don't take out a ridiculous amount.

And make sure if drama is her major she gets something "practical" as her minor.

[OneGrassRoot]

56. Thanks, tammywammy! :) n/t

[tammywammy]

57. I'm a returning student

I currently attend a private university, but taking a few courses at the community college to supplement. I can take a class at community college for $150 that would cost me $1125 at the university. There's no need to spend $1125 for English Comp II. :)

It's not like my diploma will say "ATTENDED COMMUNITY COLLEGE!!!!"

Also with the FAFSA, when you start it, you can save to return to it later if you can't find a piece of paperwork or something.


edited to add: FAFSA.org has a scholarship wizard (finder) https://studentaid2.ed.gov/getmoney/scholarship/scholarship_search_select.asp?13817/

[OneGrassRoot]

59. I started the FAFSA this morning...

Need to do my 2010 return before I can complete the specifics now, which I'll do ASAP.

That's cool about the scholarship wizard! Thanks for that link.

And I hear you about the benefits of community college. :thumbsup:

Good luck to you -- and Happy New Year! :hi:

[tammywammy]

60. Good luck to you

I know your daughter may not like the idea of community college, I know I didn't when I was younger, but there will have to be frank discussions about just the basic cost of attending a university especially out of state.

Now if there's a school in Georgia she wants to attend check into the HOPE scholarship program there. I believe after she's been there a year she would qualify as a resident and thus get a free education.

[sammytko]

69. My nephew is a drama major

for some reason it will take him 5 years to graduate. He might have changed his major. His tuition was covered cuz he was #1 in his graduating class and TX pays thier tuition and fees for 4 years.

He also had lots of scholarships, but as someone else posted - his Pell money was reduced by an equal amount. This really made him mad cuz he had plans for the money. But this makes more Pell money available for other students. His aunt on his other side is the school counselor and why she didn't know this, who knows. So just to let you know, not all counselors are on the ball....

Tell her to take the minimum amount of hours required to maintain full time status. This will help her keep up her grades. I wish I had done that many years ago. I was always taking 17 or 18 hrs.

[OneGrassRoot]

73. I will pass that along...

about the minimum hours. That sounds like good advice to me! :)

:hi:

[rasputin1952]

61. Community College to get all of the basics out of the way...

ENG101, Basic College Math, a few others, like Speech, History, Art, Music...check to make sure they are transferable to to the next institution. You can only transfer so many credit hours, but ENG101/102 are givens, as are Art, History, Music Appreciation, American History, World History and others. The key is to make sure that the University accepts them, which can be done easily enough, usually by the net.

Once Sophomore level is reached, there is an increase in funding. There are also options for books, used is the way to go, but if you have time, you can find the books on the net pretty cheaply, you must make sure they are precisely the ones being used by the instructor, editions are important, (ie, 3rd edition not 32nd or 4th).

A lot is age/military dependent, and there are even some options for military dependents, some go back as far as VN. There is also an option if the student is the first one to go to college in an immediate family.

Depending on the Major, there are scholarships available which can pick up the entire cost, or at least partial cost, nursing and business.CPA's fall into these scenarios.

Use search engines to find funds, there are many "hidden" funds from companies and individuals.

Good luck!

[OneGrassRoot]

72. Thanks, rasputin...

You guys are wonderful. I truly appreciate all the input and suggestions.

:hi:

[Odin2005]

63. Stay away from loans, they only make one a debt slave.

I refuse to take out loans, even if that means it takes me 10 more years to get a degree.

[OneGrassRoot]

74. Agreed! :) n/t

[HopeHoops]

65. 1) File tax return; 2) File FAFSA (you can do it online)

That's your best course of action, but do them (in order) as quickly as possible because some aid sources are limited in the number of recipients and order of filing determines whether or not you get them.

[OneGrassRoot]

75. I'm on it!

Will have my tax return done this week (I usually file extensions until October...lol), and will have the FAFSA app submitted by this upcoming weekend.

:hi:

[SheilaT]

66. Here's something else to think about:

You said your daughter wants to major in drama/theater. Contact those departments in every school that she is considering, and find out what kind of employment their grads typically find. Actually, this is good advice for every parent, but I digress.

What does she REALLY want to do with that degree? Perform? I have a young friend, the son of a good friend of mine who majored in theater at the University of Evansville, which, according to the mom, is the best program in the country. They won't allow students to remain in the performing side if they honestly think the kid can't make it out there in the big world. He then did a three year MFA in drama at the Catholic University, and is now working steadily in NYC. He did Shakespeare in the park last summer, and Shakespeare in DC and also worked at the Spy Museum while at Catholic.

Another young friend of mine majored in musical theater at the University of Tulsa, and part of her graduation requirement was to go out there and audition for real acting jobs in community theaters, which she did. Alas, she did not get any of those. After graduation she went to LA to try her luck there, but of course many thousands of pretty and talented young women do the same thing. I do know she currently lives elsewhere, and I'm not certain what she is doing or trying to do professionally.

Here in Santa Fe our community college has a degree program that prepares people for jobs behind the camera in the film industry. A lot of movies and some TV shows are filmed in this state. It's a pretty new program, maybe a year or so old, so I don't know what kind of a track record they have in placing graduates.

I know of someone else who was in the theater program at Evansville who got a summer job in the costume department for the Santa Fe Opera.

The entire point is that you must absolutely be completely open and honest with her about your financial realities, as well as the realities of the field she has chosen. Many others have strongly encouraged starting with the nearest community college. That's an excellent way to go, especially if she simply cannot get scholarships and grants. But, as several others have also pointed out, do not automatically assume that your in-state school will be the cheapest. There may well be a good school somewhere else in the country which would find her highly desirable, and so may offer her good financial aid -- not loans. Also, the vast majority of scholarship offers are to incoming freshmen. Transfer students often don't qualify for very many. That's something the financial aid offices in each college can tell you about.

Finally, learn from those who are saddled by their children's or their own student loans.

I know this all seems daunting, but it really isn't as bad as it sounds. Start today by making a spreadsheet or chart of some kind, listing all the schools she's considering, their costs, etc.

[OneGrassRoot]

76. Thanks, SheilaT

Thanks for all you've shared here. :)

She's actually a practical young woman. While theatre is her passion and I've encouraged her to follow it, she's realistic and has been gaining experience in all aspects of the field (tech, playwriting, theatre management, etc.).

She realizes that performing may not be the most viable avenue, so she will be focused on education and experience in other aspects of the industry, in addition to the performance aspect.

And, she'll minor in something the world deems more practical, though what that is in today's world is anyone's guess. It all changes so fast...even more reason for her to follow her heart, balanced with common sense.

Thanks very much! :hug:

[kath]

68. JPZenger's post above has very good info/advice. I'd also recommend that

you check out the forums at CollegeConfidential - especially the Financial Aid forum and the Parents' Forum (both part of the "College Admissions and Search" Forum- some VERY knowledgeable parents post there and very willingly offer advice for all sorts of situations. (you may want to stay away from the areas where mostly high school and college kids post -- CC tends to be populated with lots of snotty Ivy-League or Ivy wannabe kids with perfect test scores, etc. The parents, especially those who have been there awhile, are much more down to earth. Several of those who post regularly on the Financial Aid forum are college financial aid officers in real life.) Fell very free to ask questions!

CC is a very useful resource!
http://talk.collegeconfidential.com/financial-aid-scholarships/

http://talk.collegeconfidential.com/parents-forum/



The finaid.org page is also very helpful: http://www.finaid.org/fafsa/maximize.phtml

I also recommend Kalman Chany's "Paying for College Without Going Broke", which is updated each year.

College Board has an EFC calculator, which will give you a very good estimate for the Federal Methodology (FAFSA) EFC, and a fairly good idea of the Institional Methodology (CSS Profile) parent and student's contribution. http://apps.collegeboard.com/fincalc/efc_welcome.jsp
Only a small number of schools use the CSS Profile (they generally require the FAFSA as well) - the list is here: https://profileonline.collegeboard.com/prf/PXRemotePartInstitutionServlet/PXRemotePartInstitutionServlet.srv For schools that use the Institutional Methodology, the family contributions that the actual schools come up with can vary widely.


*** OOPS - one other thing that I just noticed while reading your OP -- do not use FAFSA.org -- you should use the .GOV site (NOT ".ORG"), which is FREE and offers very good phone support and good FAQs and answers to ?s for each question on the FAFSA. Do NOT pay money to file the FAFSA. http://www.fafsa.ed.gov/

[OneGrassRoot]

77. Wow, kath, this is great!

Thank you SO much!

BTW, I was on the correct fafsa.ed.gov site. :thumbsup:

Great info -- I appreciate it. WE appreciate it!

:hi:

[aikoaiko]

70. HOPE Scholarship in GA

You'll have to pay out of state for the first year, but then tuition is free if she can maintain a 3.0 GPA.

Stretched across 4 -5 years, the GA option could be cheaper than 4-5 years of in-state NC tuition.

[OneGrassRoot]

78. That's really great to know about.

She isn't interested in colleges in Georgia, unfortunately, but what a wonderful program to be able to tell others about. Your post could have helped others reading this thread.

I hope other states start adding more programs such as this!

Thanks for that. :hi:

[aikoaiko]

81. No problem. I try to advertise the HOPE scholarship at DU as much as possible.

And there is still time to show your daughter a program in GA like one from Kennesaw State.

http://www.kennesaw.edu/theatre/welcome.shtml

[OneGrassRoot]

82. I will do that, aikoaiko!

Thank you so very much. :hug:

[Swamp Rat]

79. NEVER TAKE A LOAN, unless you have a real, solid plan to pay them back and will enter a field

that will enable you to pay them back immediately.

I regret ever taking any loans, but fortunately they were small compared to most student loans, and I paid them back before I was out of school.

Instead, I worked 2-3 jobs and earned scholarships in order to continue without loans.

[OneGrassRoot]

80. Yes, sir!

:patriot:

I hear you, Swamp Rat.

Thanks. :hug: