Im financially dependent on my parents and they aren’t willing to pay for a good deal of my college so i dont know how i can pay for it. i think because im dependent on them i can only take out about 2600 a year in loans. I dont think i can find a job as i live in a college town in a bad economy. i can try again but i cant promise anything. So what exactly should i try to do now?
I’ve though of getting a quick 1 year degree like pharmacy tech or medical assistant and using that to help pay for college but id run into the same problem, what if i couldnt find a job.
Also, is there anyway to get more than 3k a year in loans if you are a dependent?
There are loans that are not federal student loans that you can take out - I took one through Nellie Mae for my classes last summer.
Look for scholarships: Fastweb is one that I’ve used to look for scholarships in the past.
Most of all, go to the financial aid office and talk to them. They may know of other options, or there may be some way to increase your aid offer.
Beyond that, look for a job. You may not locate one, but don’t be afraid to apply as a waiter, at wal-mart, or whereever. Every little bit helps pay for school.
Another problem is i may not be eligible for loans. My parents household income is about 115k, and alot of loans are ‘need based’. So i will run into problems with that too. What should i do? If i declare independence how much money could i take from them annually and still qualify as independent.
I am almost positive there is someone on this board who works in a financial aid office who will be along with the true answer, but I’m not sure where you are getting this $3k limit idea.
I think you are thinking of the federal Perkins loan program, which is a loan your parents take out. If so, I do sort of remember that there was a ridiculously low limit to that. However, what you want is a federal Stafford loan. These are loans that YOU take out, and the limits on these are very high. Certainly enough per year to pay for school and living expenses.
Yes, when you finish school you will be in debt. But school is an investment. When its done, if you do it right, you should be more likely to land a higher paying job than if you didn’t go. (Yes, there are many, many very successful people who never did college. However, I think we can assume that college grads. on average earn more than those with a high school education or less.)
Many, many students go through college on the Stafford loan program. I did it for undergrad and my JD. It drives me crazy when people complain that they can’t go to school because they have no money. Do they really think that every single person in college is there on mom and dad’s dime? No! Most of us lived on $20k/year Stafford loans and part time jobs!
Plus, there is always the military. I know absolutely nothing about that other than I’ve always understood that when you get out there is money available for education.
Don’t let money stand in the way of your education.
Wesley become an entrepreneure! Find something that you can do/sell that others don’t have. Find your niche (snitch?)
Sell hot wings or whatever. Get it addicting. Sell Sell Sell!
Besides, i got a SALLIE MAE loan too. (sally mae in texas) Perhaps you can “divorce” your parents, and still get cash contributions without penalty. IANAL, so don’t quote me on that.
Yeah, I too was thinking you’re off-base on your limits on loans. I think it’s apparent you really should make an appointment with a financial aid counselor and find out what’s what. You should be able to get Stafford loans of a fairly sizeable amount, though they would be “unsubsidized”–they accrue interest during the time you’re in school, and you might have to make payments on that interest (though I’m not sure if you have to make these payments while in school or not, you do get bills. . .most people I knew who had unsub. Staffords made the interest payments).
Ahhh, you are correct. Sorry. There are, however, other student loan programs available as others have mentioned. I think my g/f is currently in grad school on mostly a Nellie/Sallie Mae (don’t remember which) loan, which AFAIK operates much the same way as the federal programs–don’t have to start paying it back until you’re out of school (or your enrollment drops to less than full time), etc.
I forgot - there are limits for undergrad dependent students, with lower limits for Freshmen and Sophomores than for junior/seniors.
Red Matrix Nellie Mae and Sallie Mae are related federal programs. Wesley Clark, I think one of these may be the best bet - I know that I’ve delayed repayment of my external loan until after graduation, so that I only pay the interest while I’m still in school - that’s about $20 a month.
How about full time employment on campus and part time school? I was looking at the benefits for full time staff at http://www.hr.msu.edu/HRsite/Documents/Staff/Policies/EdAssist.htm and see that they are eligible for up to 14 hours per academic year. Part time employees are also eligible, for a lower number of hours.
i dont think male strippers are in high demand. Especially ones with 25% bodyfat, but i’ll look into it.
Speaking of loans, i should dig up posts or start a new one on how much $ in loans people graduated with and what problems they are having now in dealing with them.
I absolutely guarantee you that if you go to your schools financial aid office they will be able to set you up with something that will get you through.
Iu bloomington, its roughly $150/hr, plus fees, so its about average cost for a public 4 year institution. Maybe $5500 a year for a 30 credit hour year. I have 94 hours to complete for a degree and it would take me 3.5-4 years to do the degree. Living expenses are around (excluding major misc. expenses like dental or car repairs that add $1500 a year or so) $720/month.
Rent 245
cable tv/broadband 45
gas 15
phone 12
electric 40
food & household 180
gas 80
misc. 60
car ins. 50
The pharm tech job i was looking at as a backup plan is about $1600 total, i need 20 credit hours and it would take 1 year if i started in spring of 04, 05, 06, etc. I was thinking of taking a year off from IUB and doing that, then trying to get a pharm tech job to help pay for school (techs make about $9/hr) but i dont know if i could find one. if i did find one, i would probably have to move to indianapolis and switch to IU in indianapolis instead of IU bloomington. plus there is no guarantee any pharm tech job would fit my schedule, so i’d flush a year down the toilet for nothing.
also, the reason i was looking at a pharm tech job is because
it only requires a year training/20 credit hours beyond what i have already.
schedules can be flexible. all hospitals and some pharmacys are open 24 hours and weekends, so i could potentially work part time evenings, nights & weekends and still have my school time (8am-6pm m-f if a good estimate of school time) free
are there any other jobs that have flexible scheduling i can look at that you guys can recommend? i dont think i want to be a nursing assistant, i would rather work at a 7-11 for $2 less an hour than do that.
Do what everyone I know does - get as many scholarships and loans as you can qualify for, and then work work work during any free time you have. Find a job, any job (I’m told that waiting tables or working in a bar is best because of tips) and save up as much as possible. As for your expenses, getting roommates always helps. Is living with family an option for you? While I realize it gives you a bit less freedom, maybe it’s a worthwhile concession to make. Even if you pay your parents rent every month, I’m sure it would be cheaper than your own place.
I’m trying to find money for school right now, too. I paid for my B.Sc. by working part time, living at home, and spending very little for outings and “extras”. I admit that jobs aren’t always easy to come by, but there’s always SOMETHING out there, even if it’s something like telemarketing. Taking a one-year program that leads to a job might be a good idea too, as long as there are employers in that field in your area. Research it a little first to see if it’s worthwhile. A job like that is likely to pay quite a bit more, and you’ll be able to save up faster.
But be careful… I started down that road, by enrolling in a medical lab technologist program as a “backup plan” in case grad school never worked out. And now I’m loving it so much I’m going to stick with it, and probably head for a masters in medical laboratory science afterwards, instead of my original plan!
If only i could harness the power of sarcasm to pay for college.
roxx222 -
can you give me any advice on scholarships, like what websites or books to look at? i usually maintain a near A average, however like i said my parents have an income of about 115k so im worried i will not qualify for most financial aid because i dont ‘need’ it :D.
plus i already have a roommate, those living costs are my half of the bill. maybe i could try 3 roommates though, but that would probably only cut household down fro 360 to 310 or so.
As for the best source of scholarship info, take ivylass’s advice:
You can also try websites but I find they often give me lists of scholarships I don’t actually qualify for. Go to financial aid, and I guarantee you they’ll have tons of info for you. It’s what they’re THERE for.