Very complicated financial situation..

Olymom
Mon, 10 Oct 2011 01:43:56 +0000

It sounds like you have 1) wise parents and 2) entitlement issues.

Sorry, but it is THEIR money and they are putting their necks on the line when they cosign ANYTHING for you. I know, I know, you feel you are a hardworking person and you have every intent of paying for loans yourself – but many, many students rack up 100K in loans and then are staggered to learn they now are supposed to pay $1500 a month for the next 25 years. When they can’t do so, they (or the banks) turn to the parents for payment.

I think you should look at some of the four year graduation rates at the six schools where you have applied (I hope one of them is NOT that San Diego college that has “fashion design” as a major – I forget the college’s formal name, but it basically is a “party on the beach and get high” school for very wealthy kids. Their four year graduation rate is something like 6%.

So, dig into the statistics before putting your head on the financial chopping block. What are the four year graduation rates at the six colleges you’ve applied to? How many spring 2011 graduates of the degree program you like are now employed? (Call or email the dept. head. Either they will have a stellar rate and will zip you a quick reply or they will be very, very slow or say “we don’t keep those numbers” because the recent graduates are flipping burgers.

When you are 18, it can seem like the local burg is Nowhereville and there can be a burning desire to go, go, go to a big city. If that is you, consider how you might do that without being a student. Can you go work in one of those OOS states? If you went to work as a dogsbody in your field of interest and worked for three years, then you’d

1. know if you really like the field

2. have in state residency

3. have connections in the industry to steer you the right direction for internships, etc.

Many, many people work their way through the back door – particularly in fashion and theater.