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I’m a new student beginning a n undergraduate degree, and I don’t have enough federal loans money to cover my tuition. I even received a scholarship from my school based on my potential presented to school before hand.
Now that banks cannot lend private student loan money anymore, how am I supposed to pay the rest of my tuition money? not to talk about living expenses?
Can anybody help me with answers?
I feel lost.
Banks can still do student loans- they just won't have federal backing if you default. They'll probably have stricter requirements and higher interest rates, but private loans are always an option.
Thank you! That is essential infomation. But I guess now it will really depend on my credit score, and since It's very low, do you think my fiance will make any difference as a co-signer? His credit score is high.
Many parents won't cover their kids' education fees beyond high school. Can't rely on mommy and daddy forever...
Quote:
Originally Posted by user_id
Work
This.
It's hard to answer your question without knowing how much money you need that loans aren't covering. My answer may change depending on this information. Also, are you attending a private or public university? If it's private, could you attend a (cheaper) public university instead? Could you take entry level courses at a community college and then transfer to a 4-year school when you have money saved up? If you go this route, make sure to meet with advisors from both institutions to be sure that the credits will transfer. Also, if the option is available, could you live with your parents and commute?
Try to take a couple of online classes, they're more flexible than in-person classes. Find a job and then take classes that fit around your work schedule. Get a second job on weekends. Good luck!
Many parents won't cover their kids' education fees beyond high school. Can't rely on mommy and daddy forever...
This.
It's hard to answer your question without knowing how much money you need that loans aren't covering. My answer may change depending on this information. Also, are you attending a private or public university? If it's private, could you attend a (cheaper) public university instead? Could you take entry level courses at a community college and then transfer to a 4-year school when you have money saved up? If you go this route, make sure to meet with advisors from both institutions to be sure that the credits will transfer. Also, if the option is available, could you live with your parents and commute?
Try to take a couple of online classes, they're more flexible than in-person classes. Find a job and then take classes that fit around your work schedule. Get a second job on weekends. Good luck!
Again, let's stop with the bitterness towards people whose parents can help them pay for college, a lot of parents do, therefore was a logical question. By insinuating that one is somehow a useless dependent or a lesser person because of their parents ability to help is just transparent jealousy.
Working is an impractical suggestion because it is unlikely that one could make enough money out of high school these days to pay for a fraction of the cost of even a very cheap public college. Most people need help from outside sources, that's why they take out loans.
Online classes are usually not a good idea either, they are not respected by employers and may not be transferrable to real colleges. If you did decide to do that, make sure they're from a brick and mortar college that also offers classes online. Even then it sometimes a gamble.
Working is an impractical suggestion because it is unlikely that one could make enough money out of high school these days to pay for a fraction of the cost of even a very cheap public college.
Why is it unlikely? Tuition at community colleges is rather cheap and one can save money to attend a public 4-year college for the second half. You can work full-time the whole time. People use to do this all the time before people had a love affair with debt.
The issue here is that people don't want to work, they want to take out ridiculous amounts of debt to avoid work because they think once they get their degree they will get some sort of dream job.
Student loans should be a last resort, not a first response. The OP is already taking out federal loans, but they want more. The demand for free cheese is unlimited.
Why is it unlikely? Tuition at community colleges is rather cheap and one can save money to attend a public 4-year college for the second half. You can work full-time the whole time. People use to do this all the time before people had a love affair with debt.
The issue here is that people don't want to work, they want to take out ridiculous amounts of debt to avoid work because they think once they get their degree they will get some sort of dream job.
Student loans should be a last resort, not a first response. The OP is already taking out federal loans, but they want more. The demand for free cheese is unlimited.
And it has nothing to do with the fact tuition increase is 2% OVER inflation each year and has been for over 20 years now.
30 years ago tuition (not room and board) at Princeton was $6300 a year. Now its $36600. Thats a 325% increase even when you take into account inflation.
PRIOR - How to Fix a Broken System: Funding Public Higher Education and Making It More Productive (http://www.princeton.edu/prior/events/conferences/how-to-fix-a-broken-syste/ - broken link)
THE PRINCETON SPECTATOR (http://74.125.113.132/search?q=cache:hP1zpjPBZZgJ:www.princeton.edu/~spectatr/vol2/march97/tuition.htm+tuition+princeton+1980&cd=1&hl=en&ct=c lnk&gl=us&client=firefox-a - broken link)
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