Hey guys! I come from a middle class family, but I’ll be paying for college entirely on my own through private and federal loans and scholarships. Is anyone else dealing with the same situation? I feel like I’m the only one I know who’s doing this and it’s putting stress on my relationships with friends and family. Also, if you are doing this, then how do you handle the costs and debt associated with it?
Is there a reason your family isn’t offering a cent? Are you estranged?
College is expensive by yourself. Are you considered an independent? How much merit money will you/have you receive(d)?
Work in the summer. Budget. Try to take as little loans as possible.
Appeal to your family one more time.
I did it and so did my husband. It was not easy.
In my situation the family was so broke that I was actually sending money home to keep the electricity on there.
- Work during summers and save your funds as cash. regular bank accounts pay no interest anyway. and your little bit of savings won't show for financial aid. I never (never) bought anything extra and had great FA and still had a hard time getting through. It's hard to not literally buy a bagel at the coffee house on campus like ever because you can't afford it, but it made me a great saver and now, unlike many at my age, we are fully funded for retirement and have funds for kids to go to college;
- Make sure that you save aside funds for going home in summer or going to where you will work taht summer. I had to one time drive a truck for a professor on campus because though thrifty I was down to my last $2.
- Make sure to always ask for a RT ticket to internships or jobs up front, so that you can return.
- You won't be able to do as many unpaid internships, but start your networking with alumni early and get your paing summer jobs if at all possible. I worked sometimes two jobs during summers to save funds, 13 days of straight double shifts with 1 day of a single shift, no days off.
- Don't pledge to frats or anything else that costs money.
- Earn extra cash on campus by doing odd jobs for students. I mended clothing. You can offer a laundry service for example. There are other things you can do like that. they drop and pick up laundry from your room. Get a bathroom scale and charge by the pound. You can walk dogs or do childcare for profs. But laundry is easier. Get a bartender's license and be sure that you don't drink. Bartending pays well and teaches great people skills and multitasking.
- Limit your loans to try to stay under $30K total or less, for all 4 years.
- Study and choose your major wisely so that you don't take more than 4 years to finish
- Get a bike and don't get a car.
- No football games unless someone else pays. These are hard things to do, but basically keep your eyes on finishing with low debt and in 4 years, in a major that has (ideally) some hard skills. If you do English for example, which is great, get some computer science under your belt too, or accounting, or stats. You will never regret having hard skills when it comes to the job market.
There are many students on cc who get full ride scholarships. What are your stats? home state? CC is very good at directing students to these opportunities. If you are a senior there may not be much left, but a few have late application deadlines.
Start here:
http://automaticfulltuition.yolasite.com/
Yes, MANY kids at UMich are in your situation.
Nationally, 70% of people who graduate with 4 year degrees have $30,000 debt. UMich says their average 4 year grad now has about $25,000 of debt. UMich has good aid. Talk to the financial aide office and make sure all of your paperwork is filled out to appropriately represent your need. Ask about scholarships. Drop in on them and bring bagels. Do everything possible to seek out random funds that might be available to you. Work 10 hours a week (college can help find you a job) during the school year and 40 hours a week in the summer. Avoid debt as much as you possibly can, but finish your education.
Cut your expenses. The less you spend, the less debt you’ll have. <–MOST IMPORTANT ADVICE!
*Get a cheaper apartment with roommates and a kitchen. This is MUCH less expensive than University Housing. Apartments don’t have to have great features, they don’t need a gym and a pool and all the bells and whistles. Look for a cheap place in a decent neighborhood where you feel safe. Look for one that meets your bare essential needs. It doesn’t have to be beautiful or big. If the appliances/heat/water work, and it seems safe…the ugly decor and crappy furniture and odd layout don’t matter.
*Cook dinner and pack your lunch. You’ll save a ton of money compared to eating at the cafeteria.
*Don’t keep a car. No point in Ann Arbor. Bussing goes everywhere. For what you save, you can pay a friend with a car to take you shopping, or the places you need to go where a car is a big convenience. My kiddo has one of those wheelie carts to grocery shop with, too. Any time someone drives you, pitch in for gas. It’s polite. A car is a huge expense. You may want one, but you don’t need one.
*Buy your books used. For some classes, you can even check out necessary books from the library.
*Make budget conscious friends. Don’t hang out exclusively with people who expect you to be able to drop money every time you go out. Might be fun in the moment, but will be hell in your 30’s when you’re still paying off debt.
*Learn to be ok with buying from thrift shops for practical items that don’t matter. You’re just starting out, you won’t be broke forever and some day your things will be nicer. But for now…yes, you probably can get by with some thrift purchases. Think of it as supporting recycling.
*take advantage of the wonderful free recreation. Go sledding at the Arb. Go to a play or a concert or a museum. Take the bus out to the botanical gardens. Explore your city. Find cool hidden places.
I don’t envy your circumstances. Having put myself through college many years ago when it wasnt nearly as expensive.
Community college for two years is an option. It is what I did, lived home, went to school, worked 30 to 35 hours a week while going to school and 60 plus hours a week during the summer. I saved all I could for college expenses.
Where there is a will there is a way. I would make sure you explore all options that are available to you.
Wishing you good luck!
You do realize that no bank is going to lend you a cent without a qualified co-signer, right?
You as a student can borrow 5500 your first year and slightly more the next 3 in your name. That is the ONLY loan amount you can count on.
I paid for school myself because my family was dirt poor and got really good aid. I also worked full time and more than full time in the summer. I don’t recommend it.
Is your family unable or unwilling to help you?
It’ll make a lot if difference to UMichigan, especially if you’re a Michigan resident.
Yes, I paid for college myself. Two years at community college, and then I attended a local California State University. I commuted all 4 years. I worked part-time, full-time over summers, and took out loans. I lived with my parent’s, so I didn’t pay rent. It would be more expensive today, but still the least expensive option available.