Student Loans

[eh-stevo]

Hello,

This year will be my senior year in Highschool, and I know almost nothing about paying for college with loans etc. - I have a few colleges in mind though.

My parents cannot pay for college, and neither can I right now. I will be applying for a few scholarships if I can.

I am confused on student loans though. I found this site: http://www.finaid.org/loans/studentloan.phtml

And there are 2 different kind of student loans, and then they break down to different types again.

I will talk to the counslers once school settles in, but if anyone here has some extra advice, id appreciate it.

Thanks,
Steven

 

[Humdizzy]

Hey man,

I'm in your same boat. I really don't know what I'm going to do. I've gotten used to my parents paying my high school tuition, but all of my picks for college are 40k and above a year. I don't think they'll be able to afford it at all. I'm going into my senior year right now and I'm kind of having second thoughts on whether I want to work that hard to make 40 grand and pay back a loan or do I want to work that hard and invest the 40 grand I make.

 

[allabout42]

Well, it really depends what institution you go to... If you choose a public versus a private, of course the cost of tuition is going to be less. I'm lucky that I really don't have to take out any loans for college. All my loans are converted into work study. "Work-study awards are a form of financial aid which provides jobs for undergraduate and graduate students who need help to pay their educational expenses. Students must complete a Free Application for Federal Student Aid (FAFSA) to be considered for a work-study award." I do know that a lot of the student loans are low interest and do not require payments until 6 months after graduation. Have you file for FASFA yet http://www.fafsa.ed.gov/?

I'm not sure where your from, but here in California, tuition is about ~$4000 per semester (not counting living expenses). I would strongly advise that you go to a community college for your first 2 years then transfer so that you save a whole lot of money. Of course you could always sell your domain portfolio to pay for tuition.

 

[eh-stevo]

Hello,

Thanks for the replies.

I'm going to go to a public school, private is too expensive. The prices in Texas for a big state university is around 6-8k a year, and 4-6k for smaller universities.

Quite a few people I know do the community college thing, and then go off to college - but I've heard that theres always a risk that the college that says will accept your credit transfers will in the end not take them. But that is a good idea.

I have no yet filed for that, I will read into that during the day.

I've already taken the SAT once, and I'm thinking about retaking it in the fall before I send out things to colleges. Is it recommended also to take the ACT?

Thanks alot guys,
Steven

 

[kev]

Move to Scotland and every student gets there fees paid by the Scottish Parliament. Plus we get grants for living costs so there is virtually no debt and we have the best universities in the world :hehe:

 

[Joseph]

Move to Scotland and every student gets there fees paid by the Scottish Parliament. Plus we get grants for living costs so there is virtually no debt and we have the best universities in the world :hehe:

How come you get your fee's paid?

Do you not have to pay the fee's back when you get a job earning over 25k like here?

 

[lpstong]

How come you get your fee's paid?

Do you not have to pay the fee's back when you get a job earning over 25k like here?

I know I would like to know as well.


But to Stevo. If your in the states, than go straight to the FAFSA linke provided already. Its free and can be done on line. If anything get yourself into a Junior College for now. Get about 30 credits or so than transfer to a Uni of your choice if you have filled their requirements. If not stay and do your AA/AS and than transfer. Your fees and tuition will be much cheaper ATM.

 

[kev]

Our tuiton fees of £2,000 per year (£8,000 ($16,000) over our degree) are paid off the tax payers money :hehe:

We used to pay a graduate endownment fee once people graduate of £2500 ($5000) which was a token gesture to the people for paying our way through uni but thats been scrapped by the SNP :tu: So free uni...plus we get grants for living costs up to £3500 per year depending on your families income. So if your family earns less than £18,000 ($36,000) you get £3500 ($7000) a year which doesnt have to be paid back. This grant is valid up until your familys income is £72,000 ($144,000) i seem to remember.

Once this was introduced a few years ago, thousands upon thousands of foreigners began applying but the good old SNP put an "access fee" of £10,000 for foreigners wanting to study in Scotland.

Plus, St Andrews University (one of the top 5 uni's in the world) were giving £5000 grants for Scottish students to study there in an attempt to get more Scots to go to uni there...but i rejected them!

 

[CrazyTech]

Right about the Scotland thing, but first you have to be smart enough to do it.

Make sure that you fill out the FAFSA and this will qualify you for both loans and grants. My first year when my father was out of work, I got a whopping $400 grant from the federal government. I really wonder what the requirements are for the grants sometimes, my mom's salary was barely $20k and my father did not have a job for the year. Funny, I thought this was the same bracket that the grants were supposed to help...guess not.

Anyway, you will qualify for a loan and it will help you out. I had to take one out last year because of the cost of on-campus living since my state and school scholarships did not cover the whole amount. This year I am off campus and actually receiving some money back from my scholarships.

 

[eh-stevo]

Hey,

I talked to the FAFSA live chat, and since I wouldent be going to college until Fall 2008, I have to wait to apply when the 2008-2009 form is out January 1st.

Anyone here go/went to a University in texas?

Steven

 

[viciouscircle]

Quite a few people I know do the community college thing, and then go off to college - but I've heard that theres always a risk that the college that says will accept your credit transfers will in the end not take them. But that is a good idea.

http://statecore.its.txstate.edu/

Anyone here go/went to a University in texas?

I am currently enrolled at the University of North Texas in Denton.

 

[zhalefarin]

I feel your pain. I'm a senior in college and my annual cost as 45K a year for a grand total after interest of about $200,000. I joined Army ROTC however and the government ate about 140,000 dollars of the cost. The next 60k is much less and definitely worth it for the degree I'm getting.

good luck in your college search

 

[eh-stevo]

http://statecore.its.txstate.edu/


I am currently enrolled at the University of North Texas in Denton.

Thanks for the link - Thats gives a good basic idea.