FAFSA, ahhhhh!!!

**ravenmaniac** · 10-12-2008, 06:56 PM

My daughter was excepted at a private University 2 1/2 hours from our home. Before she went to Jr. College we toured this school and she loved it but wasn't ready to leave home. Now she's ready to venture out. We filled out the FAFSA form and it was an eye opening experience. The tuition is $20,000 a year at Stevenson. The federal gov. is saying my husband an I should be able to contribute $16,449. We made $82,000 last year. That's not bad but Maryland is not a cheap state to live in. Our mortgage and one small personal loan, son's braces, is the only credit we have but ouch. Student loans for us! If we only had been smarter about money sooner. Any one else have college expenses? I go to Jr. College too but only one class at a time.

**ravenmaniac** · 10-12-2008, 06:57 PM

I have a typo, it is excepted, not expected. ha ha

**JustMegan79** · 10-12-2008, 07:02 PM

Its great she was accepted, so conrats on that! The forms are indeed daunting! Stafford loans should work for you. I completely understand about paying for college, as dh is enrolled now and we are close to 50k in student loan debt once he graduates. Arghhhhhhhhh

**Greebo** · 10-12-2008, 07:38 PM

There are hundreds and thousands of small scholarships your daughter can apply for. They're not huge but they can help. Start doing some deep googling and get your daughter's hand sore from filling out forms!

**nancycg56** · 10-12-2008, 08:30 PM

Make sure you call the financial aid office at the college if you haven't already ~ they can be a great resource. Private colleges usually have money to help students out moreso than public colleges.

**Pianolady** · 10-13-2008, 12:35 AM

Be sure to look for subsidized loans first, as they don't accrue interest while attending college. We too were shocked by what we could supposedly "afford" each year. Also look to private funding, we were able to obtain a subsidized loan through our church denomination as well.

**Nishu** · 10-13-2008, 12:58 AM

Most everyone is expected to pay more than they think they can, mainly because of the existence of student loans. Schools and the gov't expect you to use them and most people probably do...
I've heard more than a few people blame rising tuition on the availability of federally backed student loans.

**Greebo** · 10-13-2008, 08:48 AM

Before you consider borrowing money to pay for this, ask yourself what is it the student wishes to major in?

It would be a damn foolish thing, for example, to borrow 16,449 * 5 (a 5 year, 4 year program, if you know what I mean) or $82,245 to acquire a degree to get a job that pays something like $30,000 a year.

**Athena31** · 10-13-2008, 11:19 AM

Sorry can't offer much help as my DD is onyl12 and we haven't doen the collge thiugn but definateyl apply for as many scholarships as she can find you never know what you will end up getting!

**jamie79** · 10-13-2008, 12:16 PM

Colleges never expect parents to be able to contribute what the FAFSA says. The first yr ods was in college our EFC was $16,000 and we dont make what you do. Just have her apply for all the scholarships she is eligible for. It will work out

**Pianolady** · 10-13-2008, 12:30 PM

Originally Posted by Greebo

Before you consider borrowing money to pay for this, ask yourself what is it the student wishes to major in?

It would be a damn foolish thing, for example, to borrow 16,449 * 5 (a 5 year, 4 year program, if you know what I mean) or $82,245 to acquire a degree to get a job that pays something like $30,000 a year.

So true! Ds isn't worried about his loans as he's majoring in engineering in a top engineering school. Most students have their loans paid off by the time they graduate with their internships. Dd is considering the same major for the exact same reason. She originally wanted to major in art (ugh), but has since changed her mind after thinking about the real world.

**tmffv** · 10-13-2008, 12:41 PM

I agree with Greebo on this one. What is your daughter planning on majoring in? If she doesn't know yet, then going to a 20K a year school could potentially be a huge waste. One of the saddest financial hardship stories I have heard was from a husband/father who went to an expensive private school and majored in english. Now the family is struggling with making ends meet. His school loans add up to $80k+ (for a 4 yr degree) and he only makes $35k a year. How silly it was for him to take out that much debt for a career that pays little.