I am scared of my College Student loans?
This is a choice you have to make for yourself, that is a lot of money to be unsure of but... I was in the EXACT same situation four years ago. I was a C student in high school, and I was unsure of college because I would have to pay for it myself. So, I'm entering my senior year 75k in debt. It sucks, but you have to spend money to make money. If you were a C student in high school, that means you really didn't try (no offense, but be honest with yourself, Wikipedia has most likely been your most frequent source...) so just try in college and you'll be fine! With that debt your monthly payment will range from $800 to $1000, so about $12000 per year. That seems like a lot, but when I run into friends from high school who never went to college, they're working low wage jobs making about $200000 or less per year; new college graduates make ABOUT $40000 a year in salary (give or take, it really depends on your job...) So, if you're lucky, it should work out... It's a different situation for everyone though, if you're really worried, then take it slow, go to a community college, get your associates so you have a degree to fall back on. Then transfer to a state school and get your bachelors. Apply for scholarships and state grants etc, see what you can get. Just think it over; some people say that the rule of thumb is never take out more than you expect to earn in the first year out, but that's not exactly realistic. 60 k is A LOT of money in loans, so be sure you know what you want before you start!
Need advice? Desperate College Student and Car loans?
Hi, I'm currently 19 years old and I'm going to college this summer. I've been working for 2 years at a retailer 4 days a week and I make a decent amount. I'm in the process of training to be a pharmacy tech which will give me a boost in my salary. I've been getting a ride to work from my boyfriend (his mom's 2nd car) but for my summer class, it clashes with his work schedule so I definitely need my own transportation. I only have 1k in my bank account (spring college work + books) for now. His going to help me pay for monthly car payments so we finally have our own car. We make 2k together each month. He has no money saved up so I'm thinking of pulling $1000 out of my job's 401k and putting that as a down payment for a car at a dealership... I've also considered a car loan but I dont know a reliable one that won't screw me over except for Capital One Blank Check. I have a credit card (1+ year now) with Capital One (No late payments at all) and a credit score of 715. I will have no problem paying off a pre-owned car under $5000 in a set payment plan every month. I just really need advice on how to get the car. I'm really depending on local dealerships as of now instead of buying a car off someone but I'm not 100% sure how dealerships work I appreciate ANY help and advice
What advice can you give to an aspiring college student?
This is a time when you are allowed and expected to explore everything.The studies you undertake obviously. But also the social interactions.There will be cultural challenges.You will be faced with youth like yourself but who may already have strong opinions, often based on very scant factual understanding of what they are talking about, often influenced by parents or pop stars, other idols, etc.This is what I wish someone had told me when I entered University: politely listen, LISTEN, attentively to those with strong opinions. Don’t immediately interrupt or argue if you are offended or don’t agree.Ask non-confrontational questions. Seek a deeper understanding, if possible, of what they are advocating (whether you are in agreement or not). This is called maturity, by the way.Don’t immediately “join” or sign on to some philosophy or group unless you honestly feel enough curiosity to do so but maintain, and communicate to them, that you have an open mind and you are exploring. This will impress the shit out of everyone you are in contact with, trust me.Remember: this time will pass VERY VERY quickly; it won’t seem so while you are there but trust me it will zoom by. So don’t waste it.Finally, enjoy the experience and study hard, be strong in the face of heavy partying (you know what I mean) and, again, this will impress everyone around you and you will learn from it as well. For example, be the sober one that escorts those that get heavily intoxicated home safely.
Investment Advice for college student with a few thousand dollars saved?
Hi, I am looking for some advice regarding investment options with extra cash that I have saved. I am a (URI) college student majoring in Global Business. I do have student loans and I could use the extra money that I have saved to start paying the loan now or, I could invest and accumulate funds so that by the time I graduate there is a substantial amount of profit gained from the investment. The question is: WHAT!? Ive been told invest in ROTH IRA's, other mutual funds, stocks, investment firms, buy repossessed homes, ETC.. But, what is the best way to go and why? With the current level of inflation, market status, and overall economic status, its is hard to determine a path of success. I do not mined taking risks although, I do not want to walk into something that is already guaranteed failure. I have moderate expertise in the business field. I still have a lot of learning to do but any advice would be greatly appreciated. Thank you
Student loan for SCAD?
Many Banks, financial institutions, online lenders etc are ready to offer the loans for students. But students considering their precious time and finds easy to via online as it provides easy access than other source. There are a large number of requirements other than college or course fees. Some of the most crucial are computer expense, hostel charges, and books and so on. http://loan-house.we.bs/studentloan.html The best college student loans are one which comprises all such expenses. But, to qualify for any such one, you have to give it your best shot as far search is concerned. Such purpose can be accomplished by exploring World Wide Web. You will find an innumerable number of lenders offering college student loans. http://loan--house.blogspot.com/2008/03/private-student-loans.html
I am deep in college debt. How did you pay down your student loan debt?
There's a loophole that will alllow you to skip your student loans if your pouring money into a 401k. Because your 401k is pretax, it affects your take home pay. Your federal student loans are based on your after tax pay.So what I did was I started over contributing into my 401k and basically put myself below the poverty line. This ment that I my student loans were significantly lower. Then when I did need to make ossocaial payments I would take out a 401k LOAN.If your not familiar a 401k is a loan you take out against yourself and pay yourself back out of every paycheck. You get to decided how much you want to pay and how long the loan will last.Now I don't recommend this to be a long term solution. I only did this for a short time to give myself some breathing room and I used a 401k loan to lease a better car. I then got a different job in a different city, and stopped using 401k loans.But if your stuck and your about to default on your loans and have little hope, look into this option. And remember, federal loans only default after 280 days on non payment. No mater what your loan holder tells you that's the law. Don't let the loan provider scare you. That is the law.
First time car buyer (college student)?
Decided to do this on yahoo answers because Google just bombards me with website advertising car insurance/dealerships,etc. The google search that does give advice is usually too general with it (what car do you want/set your budget/ get a steady job), which is good BUT I need details and advice from experienced people not a blog site or website filled with general articles for the sake of having an article. And my family all answer me with "you don't need a car" SO, I am a commuter college student with a steady job. College is 30 minutes from where I live and 10-15 minutes from my job. I have classes everyday and Fafsa paid my tuition for this up coming school year (i'm in the clear for now). I am planning to buy a new car within a year, so I am doing some research on how to go about it. Any experienced buyers, how did you go about buying your very first car? anything (tips,advice, tricks) I should know about BEFORE and not stuff that I end up finding out after? what's your thoughts on car loans? is there such thing as lease to own (New) car? what exactly is refinancing a car? Again I'm new to this car buying situation, I apologize for the amount of questions and the ones that seem simple. Thanks!
Is it worthy to take loan and study in a small engineering college in India?
No.Not at all.Don't waste money,resources studying engineering in any such college.Instead you may take other interesting courses like B.A,BBA,BSc etc.But try to get them from good colleges like DU,CU etc.Best Of Luck.