Because I can't get help from parents. Will student loans cover the cost of out-of-state tuition? I'd have to work part-time on top of that.
I'd love to hear from people with experience or those who have paid their own way through college out-of-state. Thanks!
2007-09-30 05:54:14 · 5 answers · asked by Judy 5 in Education & Reference ➔ Financial Aid
Yes, you could manage it with student loans between federal and private ones. However, it will leave you with a large amount of debt to be paid after college. The private student loan rates are very high and could effect your inedpendence once you graduate from college. I recommend working a part time job to make attending college out of state more affordable. Another way to minimalize it is to search for scholarships and start applying now. In regards to getting signifigant help, it is dependent upon if you meet the criteria for FAFSA independence checklist, and if you do not meet it, it is dependent on your parents' income situation. I have included some free information below. Good luck!
2007-09-30 06:20:42 · answer #1 · answered by dawncs 7 · 0⤊ 0⤋
I am paying my way through college with help of student loans even though I am an out of state student. I'm pretty sure you should have no problem getting loans to cover your entire out of state tuition. However, you might not get loans from the government as easily since it is an out of state school. You will probably have to apply for a loan from a private financial institution, like salliemae or something-- but still, you will be able to get whatever amount you need in order to pay for school. If you are asking whether or not you will be able to pay off your school loans after school... that is up to you. I know that my bills will be expensive after I graduate, but I take pride in the fact that I will be paying for it on my own. At least try to pay your interest as you go though!! Good luck!
2007-09-30 14:40:57 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You might want to estimate how much you will have to borrow, then use this rule of thumb. You should only borrow total what you would expect to earn yearly after you graduate. So, if you need to borrow $120,000 over the course of your college career- you should expect to earn that annually when you graduate.... if you are going to school to be a doctor or a lawyer then I'd say congrats.... but if you will earn your degree in underwater basket weaving... well... think very carefully. Also a loan amount of 120,000 would earn a payment of 1200 dollars. A debt of 90,000 would earn a payment of about 900 and so on.
When I decided on a grad school, I looked at two different schools. One in-state and one out-of-state. I opted to move.... but to a school that was still in-state. You might consider this.... It wasn't worth it to me... I just build a house... I no for sure I could not have done it borrowing for something I could get 4X less, just down the road.
Good Luck.
2007-09-30 16:24:11 · answer #3 · answered by Anonymous · 0⤊ 0⤋
if you are not yet 24 years old, then you are NOT independent regardless of who pays your rent. if you are over 24, you will be considered independent and financial aid will help with out of state tuition, though it may be in the way of loans and not free money(grants and scholarships)
2007-09-30 10:54:58 · answer #4 · answered by Anonymous · 0⤊ 0⤋
i am not sure but i tihnk independant adults can get some significant financial aid from the college
2007-09-30 05:57:59 · answer #5 · answered by K C 2 · 0⤊ 1⤋