<p>No, it won’t roll over. It’s use it or lose it.</p>
<p>Oh, I see. Can Staffords be used towards indirect, personal expenses or is it just for Tuition or R&B?</p>
<p>Yes. Your financial aid, including loans, is based on the COA of the school. The COA generally includes allowances for travel and personal or miscellaneous expenses. The way it works is that the semester’s direct charges from the school (tuition, room and board etc) will be charged to your account and the semester’s FA, including loans, will be credited to your account. If the FA exceeds the charges, the difference will be refunded to you. If the charges exceed the FA, you have to pay the balance.</p>
<p>Applebeam, none of this is fair. Forget fair. You need to deal with the hard facts of the situation at hand regardless of how fair it is and isn’t.</p>
<p>Your mother does not have the money or the wherewithal to pay for your college on a consistent basis. You cannot squeeze water out of stone. You have seen first hand what the results have been in trying to get her to pay what she legally owes, is court ordered in child support. You really think she’s going to be able to suddenly start paying you? You might get some money here and there from her as she has it and if you are lucky enough to be right there to get it from her when she has it. I wouldn’ t tell her about the loans but just try to get her to pay whatever you can get out of her. I hope you are more successful than your father has been. But I think you know well, that you are not going to get anything on a consistent basis from your mother. </p>
<p>Your father doesn’t have it either. His income is not a whole lot for raising all of you kids. Maybe he has a stash of something somewhere, and I hope he does. If he does, I wouldn’t recommend that he spend it on your college. He needs some emergency money, given the responsibilities he has trying to raise you kids. </p>
<p>The fact of the matter, is that your parents cannot afford to pay for college for you. I don’t care what any calculators say they should be paying. From the info you have given, they are pretty much strapped, and your mother is really very low income and could be living in a shelter in the future. It doesn’t look good for her at all. It is laughable to even think she is going to be able to contribute to college. </p>
<p>The money just isn’t there. </p>
<p>So the choice is that you find a less expensive, more affordable option, or you find a way to pay for the college yourself. You are fortunate in that the gap seems to be doable without involving your parents. You should be working right now, should have been in high school, for money for yourself, to take the pressure off your dad. And you’ll have to work all through college too. That is the economical situation your family has. The money isn’t going to fly off the trees in to your lap. </p>
<p>I agree it is unfair, and I’m sorry that a bright, hardworkig student like you has to deal with this, but there is nothing I can see that can be done. Get what you can from your parents, but understand that you will need alternative plans and that you cannot count on them to pay for anything for you. They don’t have it.</p>
<p>Breathe. You are the kid in this picture. You are not responsible for the crap between your parents. It’s juvenile. Imagine: kid gets in to a great school, aid is superb, even extraordinary-- and Dad starts arguing that he shouldn’t pay his measly portion. Are they happy for you? </p>
<p>Take the loan because you deserve this education. We said all that already. It’s not your responsibility to cover your parents’ silly argumentative foot stomping butts. But, it is your chance to go to this great college. What would you do, end college to avoid about 27k in loans? I don’t want either one of them to be able to use your dashed college dreams as yet another chance to point a finger at the other- just to continue a useless tantrum. Show them you are not in the middle now.</p>
<p>Yes, you should be working right now.</p>
<p>I was working for about 3 weeks at a McDonalds, but my hours were not enough and it was very difficult to get there without a car for myself (I had friends drop me). I had to quit. It’s really difficult to find a job here, a lot of employers just don’t have enough spots left open. I’m still looking but I don’t think I’ll find anything.</p>
<p>You might also get a job as an RA, resident assistant, after your first or second year. That usually pays a good portion if not all of your room and board.</p>
<p>You need to find a job. Yes, it’s hard to get to work. Yes, it’s hard to get rides. But you have to do it. You have to scrounge for rides, beg for them to get to work. Hopefully, in time you find someone who can give your rides as you may live on their way.</p>
<p>I have so many kids that they HAD to get rides for a lot of things. They walked for 3 to get to work, get to the train station … That’s what it takes.</p>
<p>What would you be doing right now if you did not have college in the picture? Just sitting at home doing nothing? I see kids who sit like princes all summer waiting for college to begin. What the heck is with that? You find a job and work as though you have to do so to get out of that house.</p>
<p>Cpt, did I not understand this right? If a Stafford loan will cover his costs, why does he has to work? I agree work would be good, but is it critical?</p>
<p>Apple, really sorry, yes this is not fair, but a Stafford loan is not the end of the world. Dont take anything more than that, try to work summers (you can always pay down loan early, or just save) and try to get RA job as an upperclassman.</p>
<p>If your dad has been trying to get $$ from mom to no avail, I dont see much liklihood that you can. Yes, it stinks. And I do understand your dad with 4 other kids at home.</p>
<p>KayF…the stafford loan almost covers the cost for this student to attend this college. There is a small amount left for the family to pay, but this student should be able to save some money on those costs… Things like books, personal expenses, transportation.</p>
<p>Apple… Take the stafford loan and hopefully between any babysitting money and all contributions from your parents when they can, you will be all set.</p>
<p>Apple, I think I mentioned in your other thread that you need to get creative about finding a job for yourself. Tutor, babysit, clean houses, mow lawns, wash windows, anything that people don’t enjoy or can’t do that you might be able to do for them. You’re smart…I am sure you could think of something.</p>
<p>Kay…this kid has no cushion. Parents can’t be relied upon for much of anything. Usually there are dorm things to buy. A summer job would help with that. Text books need to be purchased BEFORE a school will typically give loan funds to a student. Usually school don’t refund any positive balances from a student’s acct until about 2-3 weeks after school starts. </p>
<p>Also, this may be the student who just realized that she needs to buy a computer…that is usually at least $500.</p>
<p>kayf, The Stafford ($5500 - origination fees) will cover the parents’ contribution of $4850 but the school also calculated a summer contribution for the student ($1500) and a work study during the school year ($1750). So the student has to earn almost $1000 this summer to meet her own portion of the COA. </p>
<p>OP, I agree you need to get creative: tutor, babysit, etc. You are doing this for <em>your</em> future. And honestly, I think you need to shelve the anger. Mom is destitute. Dad is responsible for a whole lot of people on not a lot of $. You may not realize how expensive life can be; besides the regular bills, he needs $ for emergencies, retirement, repairs, medical expenses, etc. You got a very good deal and you will not be the first poor kid at this college who takes out loans to pay your parents’ contribution. My kid at a generous lac had a fellow student who worked at school and sent $ home to help mom support siblings. She didn’t work for her pizza $; it was mac and cheese money for her younger siblings. Your dad can’t do this for you and your siblings. Taking out this loan is very reasonable.</p>
<p>I agree that taking the Stafford is the thing to do. Paying it off as quickly as you can is also the thing to do.</p>
<p>It sounds like at least $3K of the Stafford would be subsidized so won’t accrue interest until after you graduate. Pay off the unsubsidized part first.</p>
<p>Good luck :)</p>
<p>The student should work because it is clear that s/he cannot depend on getting a dime from the parents, and the mother probably should not know that the loan is taken out and the bill is covered. If she knows that, it is possible that she won’t make much effort to come up with even a little bit to help out. If the student can work, the parents can contribute a little bit, maybe the student can pay the accruing interest on the unsub part of the Stafford. The interest rate is no small thing on these loans, and clearly this student will be paying back this loan on his/her own. The less owed, the better.</p>
<p>Also, IMO, and this is MY OPINION only, I think that all kids should be working and saving towards their college education unless they are so completely covered that they do not have to do so, or have some other outstanding reason (medical, research opportunity, community service function, family crisis, etc) not to do so. Even the first reason, being financially covered, does not take away from the importance in a young adult getting a work experience.</p>
<p>I am appalled at how many kids are sitting on their duffs home all summer waiting for some money to materialize. Would they be just sitting there if they did not have college as a destination in the fall? If they weren’t going to college, what would they be doing? Just sitting there? That they are going to college in the fall could change in an instant for some of these kids. So what are they waiting for, in terms of finding work? </p>
<p>There is a shocking lack of student participation in contributing to college costs, IMO. All of a sudden when it comes time to pay for college, parents want skin in the game or the even for the kid to pay for it all, and the kid doesn’t have a dime of money or a job. Never did either. Yet, some of these kids have had money, materials all through high school. Why aren’t they working? Why should the Stafford be the sole way of contributing to college expenses? What happened to the three legged stool model of past, present and future earnings to pay for things like college? What is being taught to these kids? You sit your back side and borrow all you need for these things? Like what some of these parents are doing? </p>
<p>If these loans are ever yanked, there are going to be some real consequences in the college world, as increasing number of folks are depending only on these loans against future earnings without having saved in the past and refusing to cut down and pay out of present earnings to pay for college and are teaching their kids that this is the way to do things.</p>
<p>What the heck is the OP doing this summer? What if he couldn’t go to the college, what would he be doing? He’s not working, so he’s doing what? My kids are working 12 hour days this summer as it is their best opportunity to make money. They would love to sleep in and play on the computer and hang out with friends all summer. I have two of them taking courses on top of work. And we are not doing vacation this year as we are putting those costs towards college expenses after taking too many hits in the last several months on big ticket needs that unexpectedlly cropped up as they tend to do so in life.</p>
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<p>There are many kids in this area who are not working this summer at a regular job simply because there are not many available for young, temporary workers. I know some college bound students who are in this boat. In our area, mowing lawns is not an easy option (minimum 2 acre zoning). However, that is not to say that a student can’t get creative with trying to earn some money. Babysitting, weeding gardens (we paid a student to do this), pet sitting, house sitting, etc. Perhaps some friends are going on vacation and need a pet sitter or walker? </p>
<p>This is why I urged my kiddos to get lifeguarding certification. There are SUMMER jobs around here always for lifeguards…between the many lakes, pools and camps.</p>
<p>I think we should try to encourage this OP, and not be totally doom and gloom. She clearly is going to a very top school (I know she is not naming the school, but there aren’t very many out there that have NO LOANS in their financial aid packages. She is fortunate that 90% of the cost is being paid by the school. Yes, she may find herself working both work study and some other job while IN school…but if she takes the Stafford loan, and her school will allow her to do a monthly payment plan via TuitionPay or Tuition Management Services or through the school itself, she should be able to make this all work.</p>
<p>OP…take the stafford loans…asap. Contact the school regarding how or if they allow monthly payment plans. Find out what your balance will be AFTER your bursar’s account is credited with the aid you receive…and set up a monthly payment plan for the balance if that amount will work.</p>
<p>There isn’t much opportunity for summer work around here either. That’s why my son got his job last August and worked through the school year, keeping it for this summer until he goes. Few places want to train and hire kids for just a couple of months, most want longer term employees.</p>
<p>I’m a big believer in working part time right through high school and more in summer if possible. I did it, lying about my age to get my first job off the books at 14 and never stopped until i got to college and started MY work-study job.</p>
<p>However, in the OP’s case, it is July. If she hasn’t been able to find a job yet chances of doing so for a month are slim…unless she is in an area and a situation where she can pet or babysit or pull weeds or mow, then it’s going to be hard to make much before school starts. </p>
<p>Hence, the advice to begin the loan process.</p>
<p>And, sorry, but don’t be swayed by “promises” to help you pay or Mom’s hope you won’t take loans. She’s not in a position to assist you.</p>
<p>While I agree that based on some of the posts on this board there is a “shocking lack of student participation”, I think we also should not overlook the state of the economy. It is hard to find a job. And sometimes the jobs fall through.</p>
<p>My son currently volunteers at tennis classes through community ed. He is too young to work at real companies (below 16 no one wants to hire him, they would not even give him applications - he tried). Anyway, the classes also needed assistant tennis instructor, who needed to be 16 year old. When the tennis enrollment numbers came through, the hired assistant tennis instructor (a senior in my son’s high school) got his hours reduced dramatically due to “lack” of enrollment. When the classes started, some parents complained about ratio of kids to number of instructors in classes with only one instructor. Instead of increasing hours of assistant tennis instructor, the community ed coordinator just asked my son if he could volunteer more. My son was happy to do that (he loves kids), but I already told him not to count on this job in 2 years when he is 16, because it is clear that you cannot make any money with the number of hours they are offering. I was especially appalled that the number of promised hours in the spring was X, but the number of actually hours was Y. Surely, the assistant instructor would have looked for other jobs if he knew how few hours he would get.</p>
<p>However, I do think that youth needs to be creative about getting a job. My son tutors his friends in precalc for $15 per hour. It started with just one friend, but now he has several, who use his services. His friends all have siblings and I am sure my son will have a supply of kids to tutor for years to come. Kids need to find what they can offer to others and at what price point so it is attractive to people.</p>
<p>Temporary summer jobs, yes, are scarce. So you take a job with the intent to stay with it, which you will if anything should happen to your college plans, like if your parents become the wrong statistic in the jobless market. </p>
<p>I agree that there are kids out there who, people out there who cannot find a single job out there. They live in an area where there are no jobs, and this is the situation for all who live there. ANd if the OP is truly in such situation, I apologize. I seem to think that s/he had a job and it was too much trouble to get transportation to it, or perhaps that was another poster.</p>
<p>My rant is such because I know a lot of families who qualify as well to do. Their kids get everything and anything, certainly far more than my kids, and we live a pretty danged good life. The kids have money, the parents have money, there are birthdays and holidays where I see envelopes given with money, and I know those kids are getting money. </p>
<p>And yet come college time, the kids have zero in their bank accounts, parents have no money saved for college and the budget can’t eke out more than a pittance towards the cost of college. Kid isn’t working, some are taking trips or doing some other great adventure before going off to the salt mines of college. And I say, what the heck? And worse, when I hear the parents crying poor for college and needing to borrow for it. </p>
<p>I grew up in a lower middle class family that made it a given that all of us kids were going to college and even on my dad’s meager salary, we all HAD to have a savings account and savings bond for college costs. In addition, my parents had a little bit put away too. Not a lot, but the scary thing is that it’s more than what people are doing who are living far better than we did. </p>
<p>In my area, it’s considered low grade to work flipping burgers, or shop clerking or at a deli or ice cream shop. It’s the internships and community service that these kids want to be doing…while in high school. ANd college. Read “Crazy U” and what these professional advisors are saying about life guarding jobs and the such. All well and good, if your costs are covered, though my personal feeling is that all of us should have some experience working at these minimum wage positions. But when you NEED the money, you had better bust your hump getting a job. SOme of these kids should be working weekends while still in highs school to pay for college. IT’s going to be that tight. For the first time in their lives, mom and dad’s credit cards can’t buy something the kid wants, and no one is telling the kid that he had better start making some money since he is going to be costing it in a way that parents can’t pay for it. </p>
<p>OP has enough resources within the Stafford loan to swing this, so it’s not essential, but if s/he is worried about taking out the loan, he’d better get cracking, find a job so s/he can pay off some of the interest on it as it accrues. It’s clear that the parents are not going to be able to come up with the money. Dad should understand that suing someone making $12K a year for child support funds is a waste of time. Better he get a court order to have support garnished from pay check if she is working and stay on top of that so that the amount goes up as the mom makes more. Otherwise, as he has learned, he isn’t going to get a dime. Maybe some satisifaction in getting to send his ex to jail, but there isnt any juice in that stone . OP should not be following suit. IF some money comes that way, fine.</p>
<p>I am sorry that the OP and for the many kids who get caught in these cross fires. It isn’t fair and it isn’t right. People are not perfect and some parents are less perfect than others. If you have parents who can’t or won’t pay for college, then it’s your problem. You either get some merit awards, or whatever loans and part time jobs you can find and go part time, or you go to work and wait until you are 24 and independent and see what you can get. Most of the time there is no pot of gold at the end of that rain bow either. The surest way is to find a job for yourself and look to earning enough to become independent.</p>