Thanks for the replies I'm thinking hard about this; if you are wondering its the Arizona one plus I'm enrolled in AFROTC and I am going for a major related career (non-pilot slot). The 2-year schools are in doubt too because the classes are all wait listed and its hard to get these days. I have about a week for my orientation for Embry...
Advices with loans?
- Thread starter Kensy
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EDelahanty
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Are your parents lending you the money? If so, at what interest rate and how long do you have to pay them back? Did you sign a loan document?
Are they borrowing the money they are lending you?
If the loan is the federal Parent PLUS then the student is not legally required to repay those funds. Some parents take the loan thinking the student will assume repayment but as stated above the payments for the loans in the student name added to the Parent PLUS would still be equivalent to a mortgage payment and thus not very doable financially. Also with the federal parent PLUS loan there is no limit as to how much can be borrowed based on previous amounts borrowed like a private lender as the federal government does not use a debt to income ratio when considering eligibility. There still needs to be a conversation between student and parent to explore the long term viability of these choices.
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Kensy,
I note from your prior posts that you are a CA resident and you say that you have also been accepted to some CSU campuses. LOOK HARD at these choices and also evaluate the Western Undergraduate Exchange program schools (WUE). They offer reciprocal arrangements to residents of Western States that offer a substantially reduced tuition that almost equates to that of the UC campuses.
Many public colleges offer some sort of major that can offer the foundation of coursework to lead to what you are seeking to do in cyber security. Embry is a fine school, but the debt load for both you and your parents is not necessarily how you want to begin your future.
My DS who is also from CA, had to choose between Citadel and a WUE college closer to home. Even after calculating the scholarhships that Citadel offered him, the package he received at UNR was half the cost of The Citadel. Ultimately it was no contest, financially.
I note from your prior posts that you are a CA resident and you say that you have also been accepted to some CSU campuses. LOOK HARD at these choices and also evaluate the Western Undergraduate Exchange program schools (WUE). They offer reciprocal arrangements to residents of Western States that offer a substantially reduced tuition that almost equates to that of the UC campuses.
Many public colleges offer some sort of major that can offer the foundation of coursework to lead to what you are seeking to do in cyber security. Embry is a fine school, but the debt load for both you and your parents is not necessarily how you want to begin your future.
My DS who is also from CA, had to choose between Citadel and a WUE college closer to home. Even after calculating the scholarhships that Citadel offered him, the package he received at UNR was half the cost of The Citadel. Ultimately it was no contest, financially.
+1 to the WUE... DD (not ROTC) is headed to Nevada next week on the WUE. Here in Colorado we seem to have very expensive in-state tuition, Nevada on the other hand not so much. WUE offers tuition at 1.5X the in-state rate. Even figuring in the multiplier it was less expensive for my DD to go to Nevada than attend one here in Colorado. We visited the campus in Reno last year and were pleasantly suprised how pretty the campus and the Tahoe area was. By all measure it looks to be a very good school. Bottom line... for sure pursue the WUE if you can.