Do most of your parents help you pay for college??? - Page 2

Asian_Girl2009 · 10-29-2009, 12:18 AM

dude, thts cuz most of you are attending private universities or UC's. I'm only attending a CSU and I have to take out loans and CSU are suppose to be like the cheapest 4 year universities. I think its cuz of the budget cuts.

romanigypsyeyes · 10-29-2009, 12:22 AM

Twisted and I both go to Michigan publics. The rest I cannot speak for. So no, not most of us.

TwistedxKiss · 10-29-2009, 12:23 AM

No dear, I am not. I paid for my own COMMUNITY COLLEGE, and then I transferred to my 23k flagship U. And I thought I was spoiled.

chuy · 10-29-2009, 12:24 AM

No, it's because the reality of college education right now is student loans for a lot of people, including you. It'd be nice if your parents could pay for it but it'd be nice if you'd have worked harder to qualify and find scholarships too, or if you'd have worked in highschool and saved money for college, or any number of other ways you could not have loans right now. So yeah, having loans kind of sucks but it's just how things work.

Asian_Girl2009 · 10-29-2009, 12:30 AM

Ya, but it will be REALLY hard for me to get a job because I have no work experience! I mean I practically applied over 20 jobs during the summer and nobody called me back. I dont think anyone would want to hire someone with no work experience, and especially with the economy now..its even harder to get a job.

romanigypsyeyes · 10-29-2009, 12:36 AM

^ Do you qualify for work-study?

Asian_Girl2009 · 10-29-2009, 12:40 AM

I did apply for it, I guess I didnt qualify then. My EFC was really low though, I dont know why I didnt qualify for work-study.

technol21 · 10-29-2009, 12:45 AM

Asian_Girl2009, what do you expect to get from this thread? For someone to tell your mom to give you money? To say she's a meanie and it's not fair?

I'm not receiving anything from my parents either, so I have a small loan as well, but I'm not really fretting about it since it's not that huge of a sum. To reiterate what others have said, in this economy, student loans are simply a reality and increasingly common.

Remember, it's YOUR education. Not everyone get's a free ride, believe it or not you may have to contribute something too, whether it's now with a part-time job or later by repaying your debts.

romanigypsyeyes · 10-29-2009, 12:51 AM

If that is all subsidized loans then you will pay around $150 a month for 10 years (starting 6 months after graduation). $150 is not much. Plus, there is a new income-based payment system although I don't know how it works.

You'll be fine.

Asian_Girl2009 · 10-29-2009, 12:56 AM

10 years??? What the heck? Thats a long time. If I do get a job next semester, I'm definitely using that money to pay off some of my loan. I'm not going to pay a loan for 10years even if its $150 per month. Thats crrazzzy!!

DefyLegacy · 10-29-2009, 01:00 AM

I would just like to point out that everybody, at some point or another, starts out with no work experience. People do not just wake up one day and go, "Okay, today I have an amazing skill set! Time to go get a job!" No. Sorry the economy sucks and teenagers are taking a lot of the blow because people aren't hiring, but guess what - every other person yet to obtain a college degree is dealing with the same thing. You have to keep applying and keep crossing your fingers.

It sucks that you're parents aren't helping you out, especially after they said they would. I'm not going to argue that. It really, truly bites, but you are not the only one in that kind of situation. If you want comfort, you're only going to find it in knowing that there are people a lot worse off than you are. I'm sorry, but that's life.

Also, try and cut your mom a little slack. At least you're not paying your phone bill. And you have a roof over your head, and you're going to get a college degree. I'd say in the long run, you'll be okay.

chuy · 10-29-2009, 01:00 AM

Well, it's certainly better to pay it off more quickly since you'll incur less interest that way, so you've got the right idea there. Here's a tip if you're financially responsible though.

Don't start paying off the loan yet if it is subsidized (many student loans through the government are.) You won't actually start incurring interest until after you graduate. Instead put that money that you would be using to pay off your student loans with in the best yielding savings account you can find. Over 3 years your compound interest could make you a little bit of money, and once you graduate if you want to buy a car or something you could choose to use the cash you have on hand to buy the car and use the money you would have used on car payments to pay off the (most likely lower interest) student loan.

Asian_Girl2009 · 10-29-2009, 01:04 AM

DefyLegacy - Actually I just talk to her earlier and she told me that she will buy my sister and I a car when we get our license. So, its all good. :]

chuy - ok, thanks for the tip.

romanigypsyeyes · 10-29-2009, 01:05 AM

Uh, it doesn't have to be 10 years. You can pay off as much as you want as soon as you want. All I was saying was it's not a big deal for only 14k worth of debt.

TwistedxKiss · 10-29-2009, 01:09 AM

I am going to end up with like $1200 payments for 30 years. You're being SO SILLY.

And my parents didn't even buy me a car. :P