College and Money

[-A-]

So what is everyone doing for college... When it comes to the financial end of things? What are you doing to try to make it cheaper? Do you think you'll have money to go to college?

Personally, I'm in a tough spot. My parents don't have much a "college fund" for me due to some previous financial burdens. But they make to much money and I don't fit into and of the "special" categories for federal aid. So a large part of my Sr. year will be dedicated to attempting to find some money... or a lot of money.

[Guile]

Originally Posted by -A-

So what is everyone doing for college... When it comes to the financial end of things? What are you doing to try to make it cheaper? Do you think you'll have money to go to college?

Personally, I'm in a tough spot. My parents don't have much a "college fund" for me due to some previous financial burdens. But they make to much money and I don't fit into and of the "special" categories for federal aid. So a large part of my Sr. year will be dedicated to attempting to find some money... or a lot of money.

I know exactly what you mean! Just because my parents make "X" amount of money, doesn't mean they are giving it to me, or what if they made 3 million dollars a year, but spent 95% of that paying off debts, so they really only get $50,000. I too fit into no "special" category, white, blond, white collar parents, etc.

[Pelios]

Originally Posted by Guile

I know exactly what you mean! Just because my parents make "X" amount of money, doesn't mean they are giving it to me, or what if they made 3 million dollars a year, but spent 95% of that paying off debts, so they really only get $50,000. I too fit into no "special" category, white, blond, white collar parents, etc.

They only get $150,000 not $50,000. 95% of 3,000,000 is $2,850,000.

Here if you go to college the school usually gives you an ID and with that ID many places offer discounts. The bus service of the city is half off, many restaurants, cinemas, cafés, etc. give you discounts. Some places give you services for free for example I went to a mechanic place to have a piece cut for a class and they didn’t charge me anything. Ask for discounts with your school ID.

[Guile]

Originally Posted by Pelios

They only get $150,000 not $50,000. 95% of 3,000,000 is $2,850,000.

Here if you go to college the school usually gives you an ID and with that ID many places offer discounts. The bus service of the city is half off, many restaurants, cinemas, cafés, etc. give you discounts. Some places give you services for free for example I went to a mechanic place to have a piece cut for a class and they didn’t charge me anything. Ask for discounts with your school ID.

I was going for 1 million at first ^^ I think I overshot my number a bit.

[wonderbread]

All my schooling is being funded my Financial Aid. I personally was under the impression that everyone was able to get some financial help but I guess thats not the case.
I was awarded over $3,000 dollars for classes and books and my classes and books were covered by it all with quite a bit left over to do with as I wish with. None of this is loans, none of this I have to pay back.

That is how I am able to do college if it wasn't for Financial Aid I would not be able to do this. Now the money that I have left over I will not go out and blow. I will keep it and use it as christmas shopping money and for when I am in a crises and need to have money.

I wouldn't lose faith, you can always continue checking your chances for Financial Aid, and you can look online for scholarships that are avaliable. Some scholarships offer anywhere from $500- thousands.

[Allons-y!]

I'm in the same boat. Not everyone gets financial aid, and it really sucks: I'm stressing and working my butt off, and some people I know get so much financial aid that they get REFUNDS from the aid office -- extra money they didn't need for tuition and receive in a direct deposit to their bank account. (I'm not saying that these people don't deserve financial aid, just that extra little touch always seems like kicking me while I'm down.)

Work on applying for scholarships and look into low interest student loans. Get a job, or research jobs you'll be able to get in school. Everything helps, and there are lots of options out there. Student loans are not uncommon; almost everyone I know has them.

[ReluctantPegasister]

I'm a senior in high school, but I'm working on scholarships, my mother and I are getting jobs, and we're going to have to rely on FAFSA for more help. We'll make it- barely.

[Guile]

I refuse to take loans, never had a credit card, never will. I only buy it if I have all the money right then, I will not accept debt.

[OMFG!You'reActuallySmart!]

Although my parents have more than enough money to send me through university so they don't come close to being in the range for financial aid, they told me they want me to try to make some money on my own in high-school so I'm not completely dependent on them. It made good sense, I made some money and once my first-year tuition invoice came in, we looked at how much I could pay for if I had to. Turns out, I could pay for all of it, although a bit shy for the over-priced books. However, they allowed me to keep it for personal use. They weren't expecting me to take a fifth-year but they didn't have much faith in me getting into a near-by university (hence a lower cost) so they put a generous amount in university savings. Turns out, I did get into a near-by university, in fact one of the best in the country and high in the list for best universities worldwide. They've used this savings to pay for all my tuition thus far.

Unfortunately, with the recent stock market going loopy, it's unsure for future income. My father is benefiting though since the price of gold has gone up a fair bit.

[Allons-y!]

Originally Posted by Guile

I refuse to take loans, never had a credit card, never will. I only buy it if I have all the money right then, I will not accept debt.

Well, if you have alternative ways of paying for school, then that's great. It's obviously always better not to go into debt. I'm just saying that for most people, student loans are the only option and that's nothing to be ashamed of.

Having a credit card, though, is not the same as going into debt. One can have a credit card, use it every day, and never go into debt.

[Carpe Diem]

I'm in exactly the same predicaments as you. Parents earning over the 'financial aid limit,' having a very small scholarship fund (only enough for one of five years), and working while knowing I'm not going to have enough in the end unless I work full time... It's scary but I'm hoping something comes along in the future to help me with this, and help me realize my dream of studying abroad.

Also, I hope the government changes something about this soon because it's basically killing some of our academic careers. I mean, just because our parents earn over the bracket doesn't mean they'll automatically invest it in us/we'll get the money...

[-A-]

Originally Posted by Carpe Diem

I'm in exactly the same predicaments as you. Parents earning over the 'financial aid limit,' having a very small scholarship fund (only enough for one of five years), and working while knowing I'm not going to have enough in the end unless I work full time... It's scary but I'm hoping something comes along in the future to help me with this, and help me realize my dream of studying abroad.

Also, I hope the government changes something about this soon because it's basically killing some of our academic careers. I mean, just because our parents earn over the bracket doesn't mean they'll automatically invest it in us/we'll get the money...

Exactly. My dad worked in the insurance/stock market making +100k before 9/11.. He was considered one of the best in his company but due to cut backs he was laid off. Over the course of 2 years, we went through my college fund, retirement fund and most of our savings and had to get a second mortgage. This leaves very little for my "college fund" when my dads 50 and I have a younger brother to still get through middle school and high school. Sure, my dad makes a chunk of money now, not even close to what he was making before, but enough to keep everything going.

Its just blahhhh.