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re: Student Loan Suggestions for College?
Posted on 3/4/23 at 11:07 am to DaBeerz
Posted on 3/4/23 at 11:07 am to DaBeerz
Hate to say this but it sounds like his dads not exactly being the father figure he needs to be in this case. Could be wrong and the son could just be being a bonehead.
Somebody needs to sit down with him, show him on paper what this is going to cost, what he will make upon graduation and what other life bills will be awaiting for him when he graduates. Maybe that’s you that takes it on, but for the love of God somebody needs to.
My Dad, RIP, was absolutely terrible with money as he just came from dirt poor family. I wish I would have had someone sit down with me and show me what college was going to cost me the rest of my life vs what income I could make. I would have done things a lot different.
Somebody needs to sit down with him, show him on paper what this is going to cost, what he will make upon graduation and what other life bills will be awaiting for him when he graduates. Maybe that’s you that takes it on, but for the love of God somebody needs to.
My Dad, RIP, was absolutely terrible with money as he just came from dirt poor family. I wish I would have had someone sit down with me and show me what college was going to cost me the rest of my life vs what income I could make. I would have done things a lot different.
1
Posted on 3/4/23 at 12:29 pm to Im4datigers
Well said. My talk will be with both he and his dad. I think they can come to a compromise.
Appreciate all the input!
Help with determining his major is another story.
Appreciate all the input!
Help with determining his major is another story.
Posted on 3/4/23 at 1:35 pm to DUGAST
Hey man, good on you for raising the question and being a concerned uncle. At least you can go about your day knowing that you’re giving a good effort to try and help.
Posted on 3/4/23 at 8:08 pm to DUGAST
Going out of pocket for Hendrix??
Yikes
If he’s set on it then student loans it is. Re FAFSA, is there a way (since parents divorced) to only consider one parent for aid?
Yikes
If he’s set on it then student loans it is. Re FAFSA, is there a way (since parents divorced) to only consider one parent for aid?
Posted on 3/4/23 at 8:15 pm to DUGAST
quote:
Hendrix
You don’t go into extreme debt for Hendrix, Rhodes, Berry… etc
You go into debt for schools like Rice, Vandy, Duke…
Bad move, just go to LSU and try again for gradschool.
This post was edited on 3/4/23 at 8:16 pm
Posted on 3/4/23 at 8:21 pm to achenator
quote:
35 ACT and National Merit Finalist. Couldn't get a sniff at UNC or GT
Hard to believe GT would reject a national merit scholar
Posted on 3/4/23 at 8:54 pm to The Baker
quote:
Bad move, just go to LSU and try again for gradschool.
Or go to community college and transfer to a State school if you don't qualify for TOPS.
Posted on 3/4/23 at 10:11 pm to The Baker
quote:
Hard to believe GT would reject a national merit scholar
I’m sure had he been in state he’d have gotten in. I’m sure it will all work out as he’s looking at the $ in his 529 and salivating lol. He got a really good offer from Fordham in NY but he didn’t want to be that far and in a big city. Got decent offers from Auburn and various other SE schools but nothing matched the Alabama 5th year. He was really looking for the best value. I think he still has his first commmunion $
Posted on 3/4/23 at 10:25 pm to The Baker
Liberal arts schools and a major state university have almost nothing in common. The experience of a 2K person school is fundamentally different with class sizes averaging 15 people…
Coming out of undergrad with 100K in loans isn’t the end of the world… it’s a blip on the radar over a lifetime of earnings.
I know this is the MTB but there is more than just financial ROI to the college decision. It’s the most formative years of your life…there’s a lot of qualitative factors.
Coming out of undergrad with 100K in loans isn’t the end of the world… it’s a blip on the radar over a lifetime of earnings.
I know this is the MTB but there is more than just financial ROI to the college decision. It’s the most formative years of your life…there’s a lot of qualitative factors.
This post was edited on 3/4/23 at 10:29 pm
Posted on 3/5/23 at 6:01 am to DUGAST
I couldn't get shite the first time I went to college. I lived with my mom and she was dirt poor, my dad didn't make much money either but it was better... however my step mom made too much money and they made me count all 3 of their incomes in the calculations. It sucked. I had to work full time, and working full time and trying to go to school full time is not a good recipe for success.
I had a couple of "full ride" opportunities but even with some having housing covered nobody paid for food and transportation.
I know it sucks, but he should go to the school he can afford or just wait a year.
I had a couple of "full ride" opportunities but even with some having housing covered nobody paid for food and transportation.
I know it sucks, but he should go to the school he can afford or just wait a year.
Posted on 3/5/23 at 8:18 am to achenator
quote:
Same with our son. 35 ACT and National Merit Finalist. Couldn't get a sniff at UNC or GT. Decided to go to Tuscaloosa with the 5 year STEM-MBA full ride. Hope he realizes what he is in for.
Not kidding but he should have started a “non-binary club” at school and written about it in an admissions essay. He’d have gotten a full ride
Posted on 3/5/23 at 9:08 am to lynxcat
quote:
Coming out of undergrad with 100K in loans isn’t the end of the world… it’s a blip on the radar over a lifetime of earnings.
Idk man. I realize if you are successful in today terms then that ends up not being that much money. But that’s a lot of money compared to what the typical college graduate makes at first. Plus with so many attending graduate programs and needing to take out loans for that, keeping undergrad debt low seems important.
Posted on 3/5/23 at 9:17 am to armsdealer
quote:
I lived with my mom
quote:
I had to work full time, and working full time and trying to go to school full time is not a good recipe for success.
The most expensive part of college is being on your own and paying rent and food.
If you lived with your mom, I don't see why you are working 40 hour weeks during the school year.
I pulled 60 hours over the summer and breaks and did about 20 hours a week during the school year. It was a lot of work, but it wasn't so bad that I couldn't get the school work done with discipline.
Posted on 3/5/23 at 9:22 am to DUGAST
quote:
f he applies in state, he would probably receive tops and at least some scholarships $$.
This is probably why his parents told him to jump in the lake.
Unless they are selfish pieces of crap
Posted on 3/5/23 at 9:35 am to DUGAST
quote:
Nephew [wants] his dream [car] out of state and is strapped for cash.
What would your advice be to him in this situation? Will the dream car make him money? Should he buy something more utilitarian?
Posted on 3/5/23 at 9:42 am to DUGAST
quote:
Nephew plans to work throughout college, however, with scholarships, he may be short up to about 15K - 20K per year.
He is short $15k-20k per year before getting a job?
I don't want to say that shouldn't be a problem because I don't know what area he will be moving to.
But my 17 year old daughter is clearing $13k/yr working 20 hours a week at Crumbl. And my 18 year old son (freshman at Kennesaw St) is clearing over $21k per year working at Outback Steakhouse about 16 hours a week in a ritzy part of town.
And that doesn't include any opportunity to put in more hours or a 2nd job over the summers.
Taking home $25k per year to work at making his dream school a reality isn't some dream. Money is out there if he's willing to work.
Posted on 3/5/23 at 4:21 pm to meansonny
12k, tuition, after scholarships. Same as LSU which they are matching (no tops)
12k room and board
Roughly 24k Per year
Eligible for $5,500 year in unsecured fed loans
I don’t think he realizes how much $ he can make if he hustles while in school. After hearing everyone’s feedback, I think if he were to stay in state he’d be able to benefit from Tops, plus perhaps some scholarships on top of that. He’s a 3.5 GPA student with a 27 ACT. Not sure where that falls overall, however, judging by a previous poster’s comments, my nephew is not getting a free ride anywhere.
If his parents can swing paying his tuition only, and he can hustle up and make some $$ while in college, he may be able to limit his debt coming out of college considerably.
Appreciate all the feedback!
12k room and board
Roughly 24k Per year
Eligible for $5,500 year in unsecured fed loans
I don’t think he realizes how much $ he can make if he hustles while in school. After hearing everyone’s feedback, I think if he were to stay in state he’d be able to benefit from Tops, plus perhaps some scholarships on top of that. He’s a 3.5 GPA student with a 27 ACT. Not sure where that falls overall, however, judging by a previous poster’s comments, my nephew is not getting a free ride anywhere.
If his parents can swing paying his tuition only, and he can hustle up and make some $$ while in college, he may be able to limit his debt coming out of college considerably.
Appreciate all the feedback!
Posted on 3/6/23 at 5:55 pm to BearsFan
quote:
Idk man. I realize if you are successful in today terms then that ends up not being that much money. But that’s a lot of money compared to what the typical college graduate makes at first. Plus with so many attending graduate programs and needing to take out loans for that, keeping undergrad debt low seems important.
Eh, I've got friends who went to Harvard and ended up paying $300k+ as full-pay kids.
They would do it again any single day of the week even if they could have got similar results at a cheaper school.
This post was edited on 3/6/23 at 5:56 pm
Posted on 3/6/23 at 11:54 pm to CAPEX
quote:
They would do it again any single day of the week even if they could have got similar results at a cheaper school.
I’m just curious (not being critical), but why? To get the same result for less money would seem more logical. Do you think that it’s the prestige factor for them?
Posted on 3/7/23 at 12:01 am to Jag_Warrior
quote:
Do you think that it’s the prestige factor for them?
It is pretty obvious.
I've met Harvard grads that flaunt it. Within 1 minute of meeting them on a business appointment, I've been informed that they graduated from Harvard.
It is about as annoying as the person who demands to be addressed as Doctor Evil.
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