Is It Too Late to Postpone My University Enrollment and Reassess Financial Options?
Navigating college enrollment decisions can be complex, especially when unforeseen financial challenges arise. Some students face the dilemma of whether to proceed with their committed university or delay their start to explore more manageable options. Here’s a scenario that resonated with many aspiring students and some insights on how to approach such a situation.
Background
Many students, especially those with unconventional educational backgrounds like unschooling, might lack traditional academic metrics such as ACT/SAT scores or GPA. Recently, a student dedicated months to completing the HiSET exam, achieving a strong score that demonstrated college readiness. Eager to start higher education, they applied to a local state university, but unfortunately, missed critical financial aid deadlines—namely, the scholarship and FAFSA priority submissions.
Financial Aid Challenges
Upon reviewing their FAFSA results, the student was surprised to find a substantial Student Aid Index (SAI) of approximately $33,000. Typically, estimates suggested a much lower figure, which led to confusion. The increase was due to a recent inheritance, but the family’s financial situation—having been effectively homeless—meant the funds were redirected toward a more affordable home purchase in another state.
This situation significantly limited federal aid eligibility, with only $5,500 in unsubsidized federal loans offered. Alternative private loans appeared risky and expensive. The student’s parents agreed to co-sign Parent PLUS loans, forming an agreement to cover some costs, but this arrangement left them exposed to potential future financial strain. Approaching the university for additional aid yielded little help, with staff indicating no further options.
Considering Next Steps
The total cost of attendance (COA) at the chosen university runs around $25,000 annually, making the financial burden daunting. The student expressed a strong passion for studying Biology (Ecology), recognizing that the degree could lead to a career with an estimated income of $60,000 to $80,000. However, the high debt potential raises valid concerns about affordability and long-term financial stability.
Despite their enthusiasm, the student is contemplating postponing enrollment until next year, feeling that this delay might provide time to explore alternative options or save for future expenses. With orientation starting in two weeks and college classes beginning in about six weeks, they wonder if it’s still possible to defer their admission without losing their spot.
Practical Advice for Students in Similar Situations
- Check Formal Deferral Policies: Contact the admissions office promptly to inquire