Student Loan Woes

[HoboNinja]

Ok so basically I need 19 grand for school this fall, I got $7500 from the stafford loan but I need another 11.5k.

So we go to wells fargo and my dad and stepmom try to cosign but their credit is shit and are denied.

They were approved for the parent plus loan through the government though, which is them borrowing the money in their name and they can't transfer it to me. I don't want this and they don't want it. They don't have the money to pay for it and I want to pay for the shit myself, it's my responsibility not theirs, I am 21 they don't need to be footing the bill for everything anymore. But if it comes down to it they will do the parent plus and I will pay the payments for them when I am out of college on top of my other government loans.

But trying to avoid the parent plus, what is some advice to try and get a loan? What are some good private student loan places that are somewhat lenient with credit history? Their combined income is about $240-250k a year but their debt to income ratio is shit because of 2 mortgages because we have been trying to sell our old house for 2 years and over 200K in student loans my step-mom owes. Plus my step-mom is horrible with money and just has horrible credit.

As for scholarships, I looked and looked and pretty much fail I guess. I am not poor enough and too dumb to get any that I found. My GPA is a little above 3.0 right now and it will probably drop to a 2.8 or 2.9 from this term because I did shitty and FAFSA only takes into account my parents income so it thinks they can somehow pay $50k a year for my school... even though my step-mom has only been married to my dad for 2 years so I don't see why her income should even count and the fact that it's just dumb that they expect parents to pay for college in this day and age, I would say 9/10 people I know are paying for their own college, maybe their parents pitch in a bit but most aren't paying for the tuition and shit.

So yeah good student loan places? A friend told me to check out Sallie Mae, any other suggestions?

 

[Espy]

What school do you go to that costs 19 grand for a semester??????????????????

 

[Vytamindi]

Mine was just above a 3.0 and I got a full ride. Check EVERYTHING out that you can apply for. Go to your counselor's office and just root through her cabinet. Apply for EVERYTHING.

If I could do it, anyone can.

Or find another college. Just get good enough grades to get into a grad school that really matters.

---------- Post added at 11:43 PM ---------- Previous post was at 11:42 PM ----------

What are you going to do after you graduate? Is it worth how much you are spending on that degree? Will you make enough money after you graduate to pay off your loans?

---------- Post added at 11:44 PM ---------- Previous post was at 11:43 PM ----------

I forgot to mention that I got scholarships from the state of Louisiana AND from the music department. See if you can get scholarships for your major.

 

[Espy]

Another option, my wife and I both worked our assess off while in undergrad to help pay for it. We both maintained almost 4.0's and still worked 30 hours a week. It sucks but ya gotta do what ya gotta do.

 

[HoboNinja]

What school do you go to that costs 19 grand for a semester??????????????????

Iowa State University, and it's actually a little cheaper than University of Iowa. If I wanted to stay local I could go to private university like St. Ambrose or Augustana but those are about $20k and $30 respectively for tuition alone.

Estimated Cost of Attendance
Full-time tuition and fees $6,997
Room and board $7,472
Books and supplies $1,011
Personal expenses, transportation $3,440
TOTAL $18,920




Also I work about 30 hours a week now but I wouldn't be able to afford that anyways, I doubt I could pay the like $3500 a year for the community college I am at now on what I make. I have a car payment, insurance, food, gas, cell phone and that pretty much takes all my money.

 

[Bowielee]

Have you actually talked to someone in your student services office? Of the 3 schools I've attended/will be attending, they have always been more than happy to help me find funding for school.

 

[ElJuski]

Man I just clicked on this thread and I said


I DONT GIVE A SHIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIT

 

[Koko]

What school do you go to that costs 19 grand for a semester??????????????????

Iowa State University, and it's actually a little cheaper than University of Iowa. If I wanted to stay local I could go to private university like St. Ambrose or Augustana but those are about $20k and $30 respectively for tuition alone.

Estimated Cost of Attendance
Full-time tuition and fees $6,997
Room and board $7,472
Books and supplies $1,011
Personal expenses, transportation $3,440
TOTAL $18,920




Also I work about 30 hours a week now but I wouldn't be able to afford that anyways, I doubt I could pay the like $3500 a year for the community college I am at now on what I make. I have a car payment, insurance, food, gas, cell phone and that pretty much takes all my money.[/QUOTE]

Starting college this fall with an estimated cost of $7,333 per semester at a state university.
I'm having the same failure with scholarships, only financial aid are student/parent loans, and my FAFSA takes into account income that isnt presently accurate.
So i'm in a similar boat except I'm just beginning.

 

[Bowielee]

Most schools will reconsider the info on your FAFSA if you give them the extenuating circumstances that changed your income info.

 

[Vytamindi]

Rent a house with 5 guys you know. Do you have to stay on campus? $7,000 is A LOT to spend on room and board...

---------- Post added at 10:24 AM ---------- Previous post was at 10:21 AM ----------

And what's your major? If it's graphic arts or aviation, yea, you'll need that much AND more for books/supplies.

In all honesty, I never spent that much on books throughout the almost 5 years of college.

Look at your budget again and cut shit out that you do not need. Is this the budget your school gave you? If you really want to go to college, you'll make it work.

http://praisehouston.com/national/marcusecby/college-student-lives-in-van-to-save-money/

 

[Espy]

Holy crap dude. You have enough money to go to school. You already got the stafford. You can go to school. You just need enough money to cover your books and your housing. Do what Vyt said and if you are working 30 hours a week you will be fine. "3400" for personal expenses???? WTH is that?

 

[HoboNinja]

Holy crap dude. You have enough money to go to school. You already got the stafford. You can go to school. You just need enough money to cover your books and your housing. Do what Vyt said and if you are working 30 hours a week you will be fine. "3400" for personal expenses???? WTH is that?

Personal expenses is my car insurance, food, gas to visit home, and booze money
I'm trying to figure out how to do this without working since my grades suffered from working while going to the school I'm at now. I have no time to do homework with my work schedule :/. And I'm majoring in physics and I'm not a genius so it's going to be hard enough.

but yeah I'll find a job there if I have to.

right now I'm just trying to get as many hours as I can to pay off my car and credit card before fall.

 

[Null]

Hint: Cut out booze money. Mooch off other people's booze.

 

[Ravenpoe]

Rice and beans and ramen. Get a part time job to help cut expenses, find a schedule that will leave you enough time for study and homework.

If you really want this to work, then you need to focus on your goal. Does it suck living super cheaply so you can afford tuition? Yes, but that's the life of a broke college student. And it's not forever.

 

[Ross]

Rent a house with 5 guys you know. Do you have to stay on campus? $7,000 is A LOT to spend on room and board

This. #1. Get into a house with a few other people, or even get an apartment with one or two others. Getting an apartment with one roommate will cut about a thousand off the room and board, and if you can get into a cheap enough house you could easily save 2 grand.

Hint: Cut out booze money. Mooch off other people's booze.

Definitely cut out the booze. I can easily say I've saved at least a thousand dollars over the course of my college career by not paying for booze. If you need to go out, pre-game it up... there's no reason to pay $6 at a bar for something that you could have easily made at home for $1.

Also, talk to the company that gave you the loans about consolidating the debt into one lump sum that will have a lower interest rate than the separate ones have. That'll help cut costs in the long run.

 

[Vytamindi]

Ramen and Boone's Farm.

Seriously? Look, I know I'm coming off as bitchy, but it looks like you are looking for any reason NOT to make this work.

And if that isn't the case, I apologize. I'm listening to Bolero, and that piece always works me up.

Unfortunately, you can't cut car insurance. You're a boy, but if you take a safe driver's class you may knock some money off your insurance. Don't go anywhere unless you need to ESPECIALLY living on campus. But if you live off campus, you'll probably save more money even driving around wherever. Get a place close to campus. Get a work/study job in the physics department. Clip coupons. Eat cheap. Never eat out. Don't spend money on any alcohol, unless you're at a party with a $5 cover.

You picked a pretty lofty major, which is a good thing! Work hard, and try your best to play with the cards you were dealt with. Offer tutoring in math!

YOU CAN DO IT.

 

[HoboNinja]

Even if I cut the $3500 for the estimated personal expenses down to like $1000 for insurance only thats still $9000 I need which I still think they would get denied for cosigning.

I am trying to figure it out and shit, the 3500 was what the school estimated a student will spend on random shit. Most of my food is covered in the room and board, I get 2 meals a day 7 days a week in my meal plan.

I will have to see if I can just cut it down some more and see.

 

[Espy]

Do you have to live at school?

 

[Chibibar]

I am surprise that FASFA wouldn't loan you the full amount. Did you fill all the paper work correctly? did you talk with student services? They help me a lot and I did work to help with my living.

 

[Koko]

Watered down everclear in a soda is essentially pocket change.

 

[Bowielee]

I am surprise that FASFA wouldn't loan you the full amount. Did you fill all the paper work correctly? did you talk with student services? They help me a lot and I did work to help with my living.

I'm going to go ahead and assume that their figuring in his parent's income.

 

[HoboNinja]

Do you have to live at school?

Pretty much, I looked at apartments around and with the rent and utilities it's more expensive than the dorms and I don't have many friends that go to ISU and the ones that do are all in dorms so no way to get a couple buddies to split rent.

I am surprise that FASFA wouldn't loan you the full amount. Did you fill all the paper work correctly? did you talk with student services? They help me a lot and I did work to help with my living.

$7500 is the max per semester you can get from the federal stafford loan as a dependent student (still claimed on taxes by parents and shit). and thats on your 3rd and 4th year, its less for the first 2. You can get perkins loans and some other needs based ones but I don't qualify for them because of my parents income. If I make it to graduate school the stafford loan will cover all the cost I need it is a max of $20,500 for graduate students.


I am going to call the financial aid office between my two finals monday and ask them for suggestions.