As was foretold, we've added advertisements to the forums! If you have questions, or if you encounter any bugs, please visit this thread: https://forums.penny-arcade.com/discussion/240191/forum-advertisement-faq-and-reports-thread/
Options

Paying for College...again.

ANTVGM64ANTVGM64 Registered User regular
edited January 2009 in Help / Advice Forum
Hello there. I find myself in a particularly depressing depressing situation. As we all know the Economy at the moment is in a bit of a, shall we say, rut. And I need to pay for college.


Let me start at the begining. Since I was about roughly 11 years old I've thoroughly enjoyed writing scripts. Not like, short stories or what not, but scripts, TV scripts. However, being something of a realist, as opposed to chasing something that would ultimately make me happy, win lose or draw, I instead choose to focus my attention on going to a tech school. I do and come out of high school with my A+ and Net+ certifications. Naturally I feel with this level of success I should continue upon my networking path.

I go to a community college and realize I hate computer stuff. Subnetting and flow charting and routes just made my brain hurt, and I failed some classes before changing my major to the much more broad Communications. I loved this. I'm talking Straight A's in Journalism and PR courses, and a particular knack for the history of mass communication, specifically television. It was like a bolt of lightning, I needed to pursue this dream of being a TV writer, and at the behest of my most trusted teacher, I would go to Columbia College in Chicago Il.

meanwhile I find an absolutely fantastic job doing help desk support that while stressful, could be a comfortable place for me to be. 2nd shift, answering phones, and so on. It gets on my nerves pretty darn often, but all things considered, it's a good job.


Like a man man I apply to the college, get in (It's open enrollment) transfer several of the credits I already had, and proceed to have the greatest semester of my life. To pay for this I get a private loan through Chase Student loans. The college is hideously expensive, an upwards of 34k a year with housing. I believe I got the loan with no co-signer because I made that year an upwards of 34k at my job, which allowed them to lend me the money.

In addition to this, my job, being awesome, lets me work remotely part time from my dorm. If I opt to stay in chicago, odds are I wouldn't be able to keep my job.

Here's my problem: How do I do it next year? I have one more year left at this college before I get a degree, all the best courses, and can move out to LA to proceed to be an over worked and under paid PA for a few years until getting a break, which I truly believe will happen.

So here are my questions:

1) Is it possible (while dumb) to get another 34k in loans? I read somewhere that a lot of places don't just let you get loan after loan to pay for college, and a lot of students have to drop out due to this.

2) Do a lot of students do this? Student loan themselves into debt upto their eyeballs?

3) Did the amount of money I made likely effect how I got that first loan from Chase?

4) I know of FastWeb, which seems a bit scammy, for scholarships and grants. Are there any other, better run, websites for loans

5) Am I crazy?

ANTVGM64 on

Posts

  • Options
    MurphysParadoxMurphysParadox Registered User regular
    edited January 2009
    5) Do what you feel is best. If this is what you really want to do and this will really help you do it, then there is no reason not to pursue it. Money is just money - you can always make more of it (sometimes more slowly than desired, but that's besides the point).

    4) Can't assist there

    3) Did the Chase loan say anything about it? Every loan is different and will determine what it gives and why differently. Student loans are also a special class of loans which are usually backed or covered or subsidized by the Government in some way, so they are easier to get. The banks also know that these are important loans which directly assist in paying off the loan, so they are easier to get than, say, a loan for a new boat.

    2) Yes. Oh yes. I know several people coming out of college with $80k+ debt. The only unfortunate situation is racking that much up and then not pursuing a career in that field whatsoever... and that's not really a horrible thing either, so long as you at least enjoyed it (though one can argue you can enjoy school and not use a degree for far less per year than some places).

    1) I'm sure you can find something. FIRST AND FOREMOST go to the school financial aid and ask them. If you are in good standing with only a year left to go, it should be relatively (key word there) easy to land the loan one way or another. Now, this doesn't mean you will get it (see key word) but that it would be a lot easier than if you were borderline failing and had three more years to go. You may also be able to grab scholarships or grants to help. Do not expect to find one loan to cover the full cost - plenty of people will slap whatever they can grab together. $5000 from this grant, $2000 from that scholarship, $500 from that essay contest, $2500 from the bank, $24000 from the Government and there you go.

    So to recap - do what is best and talk to your school's financial aid office (and teachers you like, actually, since they may know special ways to find you money and they will definitely be needed for letters of recommendation).

    MurphysParadox on
    Murphy's Law: Whatever can go wrong will go wrong.
    Murphy's Paradox: The more you plan, the more that can go wrong. The less you plan, the less likely your plan will succeed.
  • Options
    supabeastsupabeast Registered User regular
    edited January 2009
    I piled on loan after loan in school and came out with 67k of loans. If you have the credit, it’s possible, especially if you can live with the high interest rates from lenders like Sallie Mae.

    supabeast on
Sign In or Register to comment.