What’s up college confidential,
After a rude short notice, my parents have refused to pay for my education. I would need to come up with about $10,000 a year of out of pocket costs, in addition to the provided loans that total about $9,000.
Is there any advice on financing all of this? What are the best options for doing so?
Any advice or personal anecdotes would be great.
Thanks.
What other acceptances do you have?
If all you got was loans…you must have gotten the $5500 Direct and a $3500 Perkins.
I would suggest you look at why your parents suddenly say they won’t help you. See if that can be resolved.
And look at the local,community college where you can commute from home, and likely a Direct Loan and a job will cover the costs.
You can’t borrow another $10k, your parents would have to cosign or take out Parent Plus loans.
As another suggested, consider community college at least for the first 2 years. Work (full time if needed with classes at night and online) and save as much as you can and then finish at a local state school. If one is not in commuting distance, you will have time to plan and earn so that you can finish at an away location. This is less than ideal, but if you have to finance your own education, it would be wise to do so while living at home the first two years if possible.
You need the least expensive option possible. You can go to college, but you may not be able to go to one that will cost you 10k+ per year, this first year.
What are the reasons your parents will not help pay? If it is situational, perhaps they can agree to put what they can aside now for you to have when you finish community college and to up the amount if their situation changes?
Without parental support, I don’t see how you’re going to come up with $10,000 on top of what is already a hefty amount of loans. I put myself through college, albeit at a time when college wasn’t nearly as expensive as it is today. I started out commuting to a local college (my parents did supply room and board) and working full time. I managed to get all of my classes on Tuesdays and Thursdays so I could work all day MWF and on the weekend. I also worked 80 hours a week during the summer, and took out the maximum federal loan. All of this enabled me to save and eventually transfer and get my “full college experience.” Going away to school right away was simply not in the cards when I was paying for it myself. You may have to take a similar path. It may not be your ideal, but I would think the goal is to get the education by whatever means.
A young man I know commuted to college for four years and worked as an EMT on the weekends, making good money.