High EFC, but want loans!

hsmomstef
Thu, 15 Mar 2007 22:06:44 +0000

i would suggest you have her do work-study rather than loans. loans are pretty easy to obtain (just sign on the dotted line) and the amount of debt seems insignificant to kids this age (just look at all the posts of kids wanting to borrow $40,000 a year for school).

work study is money she has to work for each week. It also provides experience in interviews, finding a job, filling out a resume or application and having a boss. Many work study jobs may relate to her major. You could have her use her summer earnings and work study money pay for books and her personal expense. It would give her experience with budgeting and encourage her to use her money wisely (used textbooks online rather than full-price from the book store).

I have also read several places that students that do work-study (averaging 10 hours a week) do better in school, grade-wise, than kids who do not work. It keeps them a little more focused.

just my two cents.