I will be moving into my own condo in college, my parents said they’d rather have that for me than dorms- so its pretty much my only choice, not that I am complaining. They have offered to help pay for rent and bills, but obviously, I do not want to leech off of them. I want to use this as a learning experience in being financially responsible and being an adult. I took two pfl classes in school to help me learn about taxes, rent, loans, investing, etc.
Now the thing is I am a pre-med meaning I will be v e r y tight on time, so I would need a job that pays very well. If I am offered a work-study program, I will take it- but I do not think it will cover rent, utilities, etc because those things are 1) expensive 2) landlord usually require that your income is 3x the rent (my parents will be cosigning- but again I want to contribute as much as I can) and 3) I also need to save up for medical school in the process. My first question is, what type of jobs can I get that would pay a more than decent amount? I was told to look into TA, but I don’t know how that works. If someone could explain that or give further recommendations, I would highly appreciate that!
If you have further financial advice or any adulting wisdom please let me know, I will really appreciate it!
I think your plan has a lofty goal but is unrealistic. College is a full time job in itself, typically 45 hours a week or more.
Jobs that might be available to you will probably be low paying and you won’t come close to being able to pay your way with the number of hours you will be able to put in. TA jobs are for graduate students. You can’t teach what you haven’t learned yet.
Dorms are actually better than having your own apartment as a freshman. Dorms are where you develop your college friends more than in the classroom. Sophomore year and with roommates is more the time to think about an apartment.
Some colleges require all first year students to live on campus. Others require all first year students to live on campus unless they live with their parents nearby. So you’ll need to check the housing policies at the schools you like, to see if the condo idea is going to work.
Part time jobs tend to be low paying unless you have a special skill that’s in demand. For example, if you’re a certified lifeguard, you’ll find that lifeguarding jobs pay more than typical jobs. Most work-study jobs pay minimum wage, or just above it. If you do have any special skills, you might think about what jobs you could apply to that would take advantage of them - for example, if you can touch type 120wpm, or you’re a whiz with computers, or etc…
You can’t be a TA right now - those jobs are often only for grad students, or for upper level undergrads.
It is not feasible to carry a challenging pre-med curriculum, pay for part of your living expenses, and save for medical school. If your parents insist you live in an apartment I expect they will pay for the major living expenses – if you find a part-time job and work over the summer you can help to cover incidentals (ex. groceries, going out, books and things along those lines)
I would talk to your parents about the advantages of being in a dorm to start college (social advantages, you will be close to the library for studying at night, you can be on a meal plan etc.). My feeling is that college students are transitioning towards adulthood – starting in an dorm can help make that transition easier. And as noted above, some colleges require freshmen to live on campus.
Check out your college…most colleges require freshman live on campus for a reason which includes the fact that you don’t have to purchase/plan/make your own food, get involved in campus life, meet other people
If you have a work study job, it would be around 10 hours/week…not enough to pay for rent (and maybe not even food). College is a 40 hour week job…for every hour in school you are expected to do 2-3 hours of homework/studying/reading. So you cannot add another job on top of that.
For pre-med, you want to focus on school…try not to add things to your plate like living in a condo. Set yourself up for success. You cannot have a full time job and go to school. It does not work.
As a freshman, don’t worry about becoming completely independent… Just baby steps. Even going to college you have new school, new teachers, new room, new food, new friends. Usually you stay in a dorm until Junior year and then you take more steps toward independence.
If your parents insist on a condo, then they have to pay for everything…rent/food etc.
As someone who started in an apartment as a freshman (school ran out of room in the dorms), don’t do it. As others have said, dorms are where you meet all your future friends. You’re all fish in the same pond meeting the first year challenges together. I was lucky as I had friends from HS in the dorms and got to move in 2nd semester.
Second, take anything financial they are willing to help with. No reason to struggle. Be appreciative. Good luck.
my parents are pretty much insisting at this point to stay in an apartment (and they know that I am a full-time student are they are willing to pay 80% of my bills- rent, food, etc. and they do not expect me to pay back). For colleges that require freshman to stay in dorms, how would I get out of that? and I might end up getting roommates too, just not from the same college necessarily.
Where do they think an 18-year-old is going to come up with 20% of what it costs to rent a condo? If you can’t afford it on a 10 hour/week Work Study job, then you can’t afford it.
There are no well paying jobs for people with no experience. If there were, why would an employer pick a college student with limited hours instead of an older person with an open schedule? The way you get more money is to work more hours, but that can have an adverse affect on your GPA. You need a great GPA if you want a shot at med school.
How much can/will your parents contribute to college? Are your stats high enough for merit anywhere? You need to think long-term. Signing a lease and depending on roommates to help you cover the costs is risky. Do you love the idea of living in a condo as a freshman better than the idea of med school?