Student Loan Question

Enfuego · Jul 11, 2010

My little brother is going to school for the first time and he's around 26. He qualifies for up to 9.5K while tuition for a year is 20K per year. He only qualifies for 9.5K because of last year's W-2 in which he worked full time all year.

I only see two options here unless some of you guys have others.

1) He'll just have to work. He's trying to avoid this so he can concentrate on the work but if it doesn't work then it doesn't work.

2) Get a loan from a lender. Problem is you need a co signer here and he can't get that.

Options? Am I missing something? I think he just needs to work while he's attending.

TomGshotput · Jul 11, 2010

Community College. The 100-level classes are all going to be the same and he can still have the same exact four year degree from the other place. Only difference is it will be half price, especially important when you consider the $20k tuition isn't even the full cost. Not buying text books is always a good way to cut about $500 from the cost of each semester

The two years back in the classroom should also make him a much better candidate for grants and scholarships

Other option is finding a job on campus. When I was in school there was a lot of "sit at a desk with a text book for $7 an hour" positions, often tied into financial aid packages

Enfuego · Jul 11, 2010

TomGshotput said:
Community College. The 100-level classes are all going to be the same and he can still have the same exact four year degree from the other place. Only difference is it will be half price, especially important when you consider the $20k tuition isn't even the full cost. Not buying text books is always a good way to cut about $500 from the cost of each semester

The two years back in the classroom should also make him a much better candidate for grants and scholarships

Other option is finding a job on campus. When I was in school there was a lot of "sit at a desk with a text book for $7 an hour" positions, often tied into financial aid packages

He's already chosen a school and enrolled. That's not the question but I do agree CC is the way to go. That's what I did.

gtc08 · Jul 11, 2010

sallie mae doesnt require a cosigner if you are over 21.

do fafsa, get as much federal money as possible.

what is he majoring in?

Enfuego · Jul 11, 2010

gtc08 said:
sallie mae doesnt require a cosigner if you are over 21.

do fafsa, get as much federal money as possible.

what is he majoring in?

It's actually a 4 year graphic design scchool in Seattle.

audude · Jul 11, 2010

Did he qualify as a dependent student or independent student at 26 there are things u can do to prove u r dependent whether u are or not and that will allow u to qualify for more money. Other than that he needs to talk to them in the financial aid office to see if he can qualify for anymore money.

celticGreen+ · Jul 11, 2010

Talking to the folks at the financial aid office would be a good start, if he hasn't done so already - it's amazing how many students just accept their financial aid package & don't talk to the people whose job it is to help them.

KillaRSox · Jul 11, 2010

I'm 25 and am going through the same stressful process right now. Financial aid is kind of BS, it's all based on income for the last year and a half. Being in the construction field, there hasn't been any work in my area for around 6 months, but due to the fact that I was making a decent buck when I was working last year, no financial aid is available to me..... it's bullshit. They put too much emphasis on the past, not the present situation. But your brother should still apply for both FASFA, and whatever state aid is available, never hurts... I actually had an orientation with my Dept of Labor last week to see what kind of funding is available for people who have lost their jobs due to the economy. In my case workers losing their job's because the rediculous state I live in can't pass a budget.....It was a classroom full of people who I'm guessing may have been required to attend/they didn't look like they really wanted to be there. Me on the other hand am looking to make myself more skilled and marketable. Well anyways the teachers of the class were just reading off of these pieces of paper, not giving us any useful information that wasn't already made available to us. I had a few questions, so I raised my hand. I asked the woman my question, and here response to me was "Your A Fucking Idiot" my face dropped, I couldn't believe it. This is in a classroom, at the NYS Dept of Labor. Where these teachers are suppose to be helping people and answering any questions they may have. Make sure your brother know's, Keep your eyes on the prize don't let anyone steer you the wrong way. He's probably going to hit a few speed bumps along the application/financial aid process, tell him to go right through them. If it seem's like someone isn't being of much help or is giving you a hard time, go around them move on to the next person. Hopefully this helps anyone who's thinking about going back to school.

Enfuego · Jul 11, 2010

celticGreen said:
Talking to the folks at the financial aid office would be a good start, if he hasn't done so already - it's amazing how many students just accept their financial aid package & don't talk to the people whose job it is to help them.

Yeah he's done this already. I forgot how tough this process was for me.

Dwight_Schrute · Jul 11, 2010

Tell him NOT to go to school, take that money and start-up his own business. Much better investment

Enfuego · Jul 11, 2010

Dwight_ Schrute said:
Tell him NOT to go to school, take that money and start-up his own business. Much better investment

Don't want to get into this discussion. I don't believe in your philosophy.

gtc08 · Jul 11, 2010

imo graphic design is a waste of money. you spend 25 ,000 a year using programs you could buy for yourself, online tutorials you could use for 10 percent of the price.

if he wants to get into computer industry, tell him to look into network systems, computer engineering, etc.

BetWithMind_NotHeart · Jul 11, 2010

gtc08 said:
imo graphic design is a waste of money. you spend 25 ,000 a year using programs you could buy for yourself, online tutorials you could use for 10 percent of the price.

if he wants to get into computer industry, tell him to look into network systems, computer engineering, etc.

Thought the same thing, but if that's what he really wants to do go for it.

AlwayzRight · Jul 11, 2010

Dwight_ Schrute said:
Tell him NOT to go to school, take that money and start-up his own business. Much better investment

+1...Tell him not to waste his time and money. I wish I could go back in time so I didnt waste mine.

KillaRSox · Jul 11, 2010

You need that piece of paper these days, if you want to make many pieces of paper! I'm hoping to get into the accounting field.

Enfuego · Jul 11, 2010

gtc08 said:
imo graphic design is a waste of money. you spend 25 ,000 a year using programs you could buy for yourself, online tutorials you could use for 10 percent of the price.

if he wants to get into computer industry, tell him to look into network systems, computer engineering, etc.

Great, graphic design is a waste of money. That said, I'm trying to help him find the funding.

Enfuego · Jul 11, 2010

AlwayzRight said:
+1...Tell him not to waste his time and money. I wish I could go back in time so I didnt waste mine.

Ok, I just told him not to waste his time and money so now we don't have to post about it any longer. Now, do you have any thoughts on how to get funding?

ALSportsJunkie · Jul 11, 2010

KillaRSox said:
You need that piece of paper these days, if you want to make many pieces of paper! I'm hoping to get into the accounting field.

This is incorrect. There used to a large void between those with college degrees and those without. That is no longer the case. Now it is more about who you know, what skills you possess, and how hard you will work. The most wealthy people I know never stepped a foot on campus. The people I know who are struggling are all saddled with huge college debt, a car payment, and a mortgage while their dreams of starting out at 50k+ materialized into a 30k a year (or worse) reality.

Of course if you want to be a lawyer, doctor, accountant, etc. you need to go to school, but pursuing those degrees does not guarantee you success. I am close friends with a dentist who grosses 4 times what I do per year, yet we bring home basically the same thing - and that is with my business being slow as hell. That being said, I went to college as a back up plan for my original goals and obtained a 4 year degree, I Just happen to have a business and make much more than I could using my degree.

HacheMan · Jul 11, 2010

enfuego said:
ok, i just told him not to waste his time and money so now we don't have to post about it any longer. Now, do you have any thoughts on how to get funding?

lol

HacheMan · Jul 11, 2010

Wow 20k per year sounds like a ton.

My girlfriend (ex now I guess) went to school took all of her basics, then became an RN in 2 years, almost all was paid for by grants, and she's making $30 per hour already.

I have so many friends and know others who have gone to major colleges for years with so much education and either can't find work or aren't making half as much as that.

Does he not qualify for any assistance fuego?
Best of luck Enfuego, I hope he gets finds the help he's needing.