Off-Topic - In General

[Synchronous Failure]

Made it! Got accepted today. So this summer I'll be moving to Washington, D.C. and taking International Affairs. I have to figure out how to pay for it so I was wondering if any of you have ever taken out a student loan or know about some grant/scholarship that I can get that won't frown on the fact that my father makes six figures.

[werepossum]

International affairs?  You going to make a career in the IMF?  <rimshot>

[Synchronous Failure]

No but probably follow in my father's footsteps with a job in some international organization. It's what I'm good at and am interested in the most so why not focus on it.

Anyways, tuition is $44,000/year not counting the $10,000 for dorms and $2000 for books. >_<

[ronin410]

Congrats! D.C. should be awesome for school. My best friend in High school went to American University and I had a blast visiting him.

[Natedog51]

Call their finance department and get hooked up with a financial advisor. They should have a ton of shit for grants, scholarships, etc..

[werepossum]

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Synchronous Failure wrote:

No but probably follow in my father's footsteps with a job in some international organization. It's what I'm good at and am interested in the most so why not focus on it.

Anyways, tuition is $44,000/year not counting the $10,000 for dorms and $2000 for books. >_<

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Sounds like a plan.  Unfortunately they'll count your family income and assets for any kind of financial aid, or at least that's the way it worked thirty-odd years ago.  My father owned an auto parts store; although he was still paying off his brother and the man who a half century before had funded the store, they counted the full value of the store as assets available for my tuition.  

And I can't fundamentally disagree with that policy; you should have to use your own assets before you're eligible to use someone else's.  The only thing that bugged me was all the people willing to lie to get free money.

Anyway, best of luck with GWU.  You should make valuable contacts in addition to your actual education.

[Natedog51]

Oh, the other thing I would do is file for indepentancy as soon as you can. Then, like Were said, they will only hold your assets against you, which will be none. My brother in-law did this and he has everything paid for except the very small federal un-subsidized loan.

[Samuel71]

Congratulations! and good luck with the financing. I pay a fraction of that for my university tuition and it is still impossible to manage without some help from my parents, even with a part-time job and government loans. Definitely look into scholarships.

[Synchronous Failure]

The problem with scholarships (at least the ones that I can find) is that they take financial need into account, have 1-10 slots for the winners, and only award between $1000-$5000. The main scholarship I was relying on, a military ROTC, fell through and now I'm stuck with having to pay the full price for the first year. I submitted all of my financial aid paperwork and according to the school about 70-80% of applicants are accepted. I just don't know what the average income level is and my parents are considered well-off. The school is ranked 8th in financial accessibility but 3rd in overall price (presumably to pay for the needy).

I totally did not know that when I applied for admission. Ugh, f*ck me for not having any backups. I'm an absolute retard. My parents forbid me from taking out any loans and their reasons make sense: who goes into that much debt in the first year of their new life?

It's too late to apply anywhere else. I don't know if I should take the chance, take out a loan, and do my first year or wait another year... I just got accepted to one of the best schools in the country and I don't know if I'll have the same luck next year, especially considering I will be out of high school for two years now. My parents will be moving out of Spain and going to Belgium, which I cannot go because there is 0 opportunity for youth like me, so I will have to go somewhere in America to live.

GWU is a great opportunity because they have a load of programs with the government and are excellent for building up a network of contacts and internships. So I'm certain I'll be able to find a job while I live there (especially since I'm in a government job right now). So there's that...

I guess the plan is to wait for the results of my financial aid application, ask guidance if there is a chance I can reapply next year without relying on info from my old high school (because I will no longer be in the country), or if the financial aid is enough that I can actually attend. If I can just do my first year I'm locked in as a college student and can transfer to other schools and get the benefits I need... And also reapply for the NROTC.

[Synchronous Failure]

In other news, here's one of the weirdest, most hilarious, and disturbing university advertisements I have ever seen:

[werepossum]

I don't know that I agree about student loans.  I didn't take out any, but I attended a state university back at a time when college was much more affordable.  While I respect your parents' views that debt is a trap, intelligent debt as part of a well-reasoned business plan can be a wise investment.  As long as your prospective income can easily pay them off in a reasonable amount of time, I think student loans are a reasonable investment.  I mostly object to them in financing lifestyle and for financing degrees with little financial value.  I'm not sure that even a liberal arts degree from GWU would fall under that category.  I'd consider it more along the lines of purchasing a piece of equipment for a business; you're borrowing money for something that should increase your earnings.

[Synchronous Failure]

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werepossum wrote:

I don't know that I agree about student loans.  I didn't take out any, but I attended a state university back at a time when college was much more affordable.  While I respect your parents' views that debt is a trap, intelligent debt as part of a well-reasoned business plan can be a wise investment.  As long as your prospective income can easily pay them off in a reasonable amount of time, I think student loans are a reasonable investment.  I mostly object to them in financing lifestyle and for financing degrees with little financial value.  I'm not sure that even a liberal arts degree from GWU would fall under that category.  I'd consider it more along the lines of purchasing a piece of equipment for a business; you're borrowing money for something that should increase your earnings.

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That's what I thought, too. And federal loans don't accrue interest for the years that you're in university. My original plan is to take out a loan and then try the NROTC again after my first year. After my previous experiences I'm 100% confident that I'll get it next time and have the rest of my uni years paid off. A year or two at McDs and I think I can pull-off paying $40+ grand before interest kicks in. And that's not counting if I somehow get awarded financial assistance...

I guess all I can do is play the waiting game...

[gregorov_14]

The interest does not accure only if it's a Subsidized load (Perkins, Subsidized Stafford).  A lot of times you'll get tons in grants/scholarships just by applying for the FAFSA and through the school if there's something separate.  Loans suck because you'll end up with a car loan or more worth of debt at a higher interest rate. Usually though the first-year grants/scholarships are higher than subsequent years to incentivize you to go there.  Enjoy the waiting game, it sucks.

[Samuel71]

Does GWU allow you to defer your admission? I know my school does this... you can take a year off to work, and be automatically accepted for the next year.

[Callred]

Sorry Synch, I meant to send Congrats ages ago... Good On Ya..

[werepossum]

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Samuel71 wrote:
Does GWU allow you to defer your admission? I know my school does this... you can take a year off to work, and be automatically accepted for the next year.

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Instinctively I like that idea, but practically speaking aren't you trading a year working at low pre-degree wages to avoid paying off that same debt (granted, plus interest) at high post-degree wages?  I think the only way you come out ahead working for a year before attending college would be if you already have a very marketable skill or drop out without earning a degree.  I'd say take the loan, work your ass off developing a very marketable skill, graduate, find a good job, then work like hell to pay off the loan before buying the nice car, renting the nice apartment, buying the house.

I'm all for sacrifice, I just want it to be as painless as possible.

[Synchronous Failure]

I would defer merely to try out for the NROTC again but I don't know. I'll find out in a few weeks I guess...

[werepossum]

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Synchronous Failure wrote:

I would defer merely to try out for the NROTC again but I don't know. I'll find out in a few weeks I guess...

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Might want to talk to your recruiter first to see if deferring would help or hinder your chances with NROTC.

[Synchronous Failure]

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werepossum wrote:

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Synchronous Failure wrote:

I would defer merely to try out for the NROTC again but I don't know. I'll find out in a few weeks I guess...

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Might want to talk to your recruiter first to see if deferring would help or hinder your chances with NROTC.

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The NROTC is aimed at high school graduates, so my not going to college for another year actually helps me. They also pick which university I can go to (GWU is very popular and spots in the NROTC unit quickly fill up). I have until my sophomore year to get into the NROTC.