Okay, here is where I am currently at. I was accepted into a well-known Christian college (Wheaton) and was super excited. It was a bit pricey, but the financial aid helped immensely and I was sure I could pay the rest. I worked the past summer in order to save for college. The catch is that I based my ability to pay on way to many assumptions. I assumed I could save enough money to last this long, and in college I would get a job that would give me this many hours, and I would have made this amount of money. So far, so bad. With so many people coming to college in this area, jobs are pretty scarce. And the job I have been accepted at doesn’t pay nearly the amount of money I need to make it through even one month. Unfortunately, my parents cannot cover the costs because of the situation that they are in. So I am asking for advice: if by some miracle I get enough money to last me through the fall semester, what should I do over winter break: should I transfer to a cheaper college (such as in-state or community)? Or is it possible to take time off and actually make a decent amount of money before heading back into my college journey?
For this year, I need about $6,000. I will admit, this is entirely my fault. In fact, I only decided to attend this college because of its name: I only looked into one other college, which would require over $10,000 for the first year!
Do you know if it is possible to transfer schools after just one semester?
Man, I really did not think this through! I only have enough money to last me another month and a half. Like I said, I was assuming that I would get a good paying job soon.
Yes, I already took out the loan, which is part of the reason I am somewhat hesitant to withdraw now.
So what first semester bills remain unpaid? Have you paid for fall tuition and the first quarter of housing? When you say you still need 6k for the year, is that referring to the academic year or just 2018? Yes, you can leave after a semester.
Have you moved in yet, if not Withdraw now. If you cannot afford the next installment plan, then not only will you not be able to attend school next term, you will not be able to transfer anywhere else because your transcripts will be on hold. Can your parents take out a plus Loan? If they are not eligible, then you can borrow another 4K.
You have placed yourself in a situation that is most likely not going to end well. You need to think about college affordability for 4 years. You did not have a real plan for one year, one semester or in your case the next 30 days
I agree with all of the other comments. You cannot afford the college where you are currently attending. I think that you should withdraw immediately. Then start applying to more affordable colleges and universities, which is likely to mean in-state public universities in your home state.
You just can’t afford this. It is only going to get worse each semester if you stay where you are.
You can take a gap year and work at a job. You will be a better student a year from now when you start at an affordable university.
@sybbie719 has a very good point that if you complete your first semester at Wheaton, but if you have any unpaid balance on your bill, then you will be precluded from starting or probably even applying anywhere else because you will not be able to get them to release your transcripts until you pay in full.
Go to the registrar and the bursars office on Monday to confirm what you need to do to withdraw from the university with a full refund.
You may find that it is better to withdraw now, then end up with unpaid tuition and fees that will make it difficult for you to obtain a transcript to transfer.
If you don’t pay them what is owed, you will have trouble enrolling elsewhere at a 4 year school. Most colleges won’t release transcripts until money owed is paid, and the new college won’t accept you without a transcript. I agree, go see about withdrawing. Be sure you understand tuition, fees, and housing implications (sometines housing has separate rules & paperwork).
Also, if you withdraw now, you not only will get a full refund, but will also preserve your freshman status, which is necessary for the best scholarships.
What’s your parents income? Their EFC?
How much can they actually contribute?
What are your stats?
What is your current state of residence?
I appreciate all of your information. It seems like no matter what I chose to do, I am going to run into financial trouble. But of course, I wholly understand that it is my fault for not better preparing myself for college! Again, thank you all!
If your balance for fall remains unpaid, you might accrue late fees and will be unable to register for classes next semester.
Your transcript will be held until you pay what you owe.
If you just quit during the semester, you will mess up your GPA, future financial aid, and the school might have to return loan money and Pell Grant to the Dept of Education and you will owe the school that money as well.
The best chance is to go see the registrar, bursar and housing office on Tuesday and see if you can still get a full refund for tuition and fees and possibly a pro-rated refund for housing/meals, if you withdraw now.
If it’s still within the add/drop deadline, that would give you a fresh start. It is better to attend a more affordable college next year, than to stay at a school you can’t afford to stay at, and be forced to drop out and owe money.