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re: student loan
Posted on 4/1/15 at 6:23 am to hungryone
Posted on 4/1/15 at 6:23 am to hungryone
quote:
The average in-state student isn't receiving any additional scholarships from LSU above the TOPS award. (Federal grants, work-study jobs and loan eligibility vary depending on family income.) LSU's merit scholarships are used to attract high achievers. Minimum scores for merit awards are ACT of 28; this earns the student an additional $1,500 a year.
Just because you have a 28 and good GPA doesn't mean you are getting it. Me and quite a few people had around ~30 and were in-state and all we got is $1,000 for our first year there and a pat on the back.
Having TOPs was the best though. After TOPs, my tuition was probably ~400 a semester. If I had gone to a smaller school (ULM or LaTech) I would have been making money every semester.
1
Posted on 4/1/15 at 7:57 am to Dr. Shultz
well if you get tops then you don't need anything else. if you are like the oos guys (daughter), then &22k per semester is unbearable and in my mind way too much to pay for LSU.
Posted on 4/1/15 at 10:25 am to oldschoolgreats
Agree about LSU not being a very good value at out of state pricing...
Posted on 4/1/15 at 10:31 am to oldschoolgreats
Oh I agree, I was just commenting on in state schollies they give. LSU is SUPER anal about giving scholarships to in-state students. I know a girl who wasn't even offered a full ride here and she was a national merit.
They are pretty generous with OOS scholarships though. A lot of my buddies from Texas had scholarships with good, not spectacular, ACT scores (~27)
They are pretty generous with OOS scholarships though. A lot of my buddies from Texas had scholarships with good, not spectacular, ACT scores (~27)
Posted on 4/1/15 at 11:52 am to Dr. Shultz
Yes, that is correct. LSU will give oos student 5-10K to semi offset the oos portion of tuition. that is the only way almost any oos public school can stay competitive.
having said that, my friend's son is finding out that it is cheaper to go to an equal or slightly higher quality private oos than public oos state.
having said that, my friend's son is finding out that it is cheaper to go to an equal or slightly higher quality private oos than public oos state.
Posted on 4/1/15 at 1:05 pm to oldschoolgreats
quote:
having said that, my friend's son is finding out that it is cheaper to go to an equal or slightly higher quality private oos than public oos state.
Yes--this is usually the case due to more generous aid packages from the privates. hope the kid finds a good fit.
Posted on 4/1/15 at 2:16 pm to oldschoolgreats
My approach for all our kids has been to keep total loans to no more than 40-50 percent of expected starting annual salary. So far, all our kids have gone to LSU and, with TOPS, that goal has been easy to achieve (all have been under 20 percent). Our youngest is going to a private school out-of-state and even with major merit-based financial aid, that 40-50 percent goal will be a challenge.
This post was edited on 4/1/15 at 2:25 pm
Posted on 4/2/15 at 8:03 am to islandtiger
yea, TOPS is a monster deal for la. kids. 50 % of expected starting salary won't work at a good private. private schools costs about $50k per year. if you get 20K in scholarships/grants and pay 20k per year you are still left with 10k per year in loans. that is a tough deal if you have more than 1 kid.
talked to parent of kid I am trying to help. he is looking at all options. he is considering asking a school to give him an extension (1 month) past the 5/1 deadline to accept offer. thinks that if school doesn't get its desired no. of students that there will be more money left to increase the grants given to his son. any thoughts of 1) whether school will agree to extension 2) whether more money will be available
talked to parent of kid I am trying to help. he is looking at all options. he is considering asking a school to give him an extension (1 month) past the 5/1 deadline to accept offer. thinks that if school doesn't get its desired no. of students that there will be more money left to increase the grants given to his son. any thoughts of 1) whether school will agree to extension 2) whether more money will be available
Posted on 4/2/15 at 8:41 am to oldschoolgreats
If he is looking at having to take on this much debt he should consider working part time during school/full time during the summer
I've worked in a restaurant my entire time in school. If he's got a good head (which judging by the thought he is giving all this, he does) then he will be able to buckle down and work and study.
Just make sure he's prepared for very little social life. During the semester I do 15 hours at school, about 15-20 hours studying, and anywhere from 20-30 hours at work. Its rough at times but ill be graduating in a good degree field next year with a strong gpa with 0 loans. It can be done.
I've worked in a restaurant my entire time in school. If he's got a good head (which judging by the thought he is giving all this, he does) then he will be able to buckle down and work and study.
Just make sure he's prepared for very little social life. During the semester I do 15 hours at school, about 15-20 hours studying, and anywhere from 20-30 hours at work. Its rough at times but ill be graduating in a good degree field next year with a strong gpa with 0 loans. It can be done.
Posted on 4/6/15 at 2:06 pm to baseballmind1212
still trying to help friend's son with financial aid. he got his aid info. back from LSU and they only offered between 5-10k per his dad. that leaves him having to pay around 35k (oos student) to attend LSU. this is a no go. he has considerably better deals from private schools.
Posted on 4/6/15 at 2:26 pm to oldschoolgreats
quote:
that leaves him having to pay around 35k (oos student) to attend LSU. this is a no go. he has considerably better deals from private schools.
Glad you're helping him to recognize this. It's supply and demand: the private schools "need" him in some way. Maybe to balance out geographic diversity, or the male-to-female ratio, or because he is interested in a less popular major at that school. They want him, so the aid will always be better than a state school unconcerned with geographic diversity, gender ratios, or balancing majors.
What's on the short list besides Rhodes? What does he plan to study?
Posted on 4/6/15 at 11:16 pm to hungryone
the short list appears to be TCU, Rhodes, Missouri - Columbia, Texas Tech, Southwestern. SMU on outside looking in unless they enhance financial aid package
not sure about his major since that's not what I am helping him with but he has mentioned business and communications before. don't know how it stands now.
not sure about his major since that's not what I am helping him with but he has mentioned business and communications before. don't know how it stands now.
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