How do I go about paying off $12,000? Do I still qualify for scholarships? Can I still get a private education loan even though I no longer attend school?
You can’t get education loans or scholarships if you’re not attending school. If you owe the school directly your best bet is to get a job. Do you owe federal student loans too?
There is also a good chance that your current college won’t send your official transcript anywhere (ex. another college, potential employer) until your current balance is paid off.
How were you able to attend classes this semester with a $12,000 balance? You will need to get a job.
There are lenders who will lend for educational costs owed for past semesters. I don’t recommend borrowing that way, though, because it is likely to come with a very high interest rate.
I am going to assume that you will receive a degree but you just won’t get your diploma. Is that the case? You may still be able to access an unofficial transcript so you can get a job.
You can get a job that doesn’t require your degree. How about a couple of part time jobs at McDonalds and someplace similar. Do some babysitting on the side. Mow lawns, pet sit…whatever it takes.
Ask your parents if you can live for free with them for several months.
Use every penny of your earnings to pay off your loans.
What did you think would happen? You owe the college money…you need to pay your debt.
You can contact the college. Some will work out a payment plan with you. But others won’t.
Regardless…you need to pay this debt. Period.
This needs its own post.
Are your parents aware of this debt? Are they coming to the graduation thinking you are good to go? Any chance they can help you out?
I don’t understand what this money is from… traditional student loans are paid back over a period of time. Can your parents help?
OP, why do you owe so much to the school? It is unusual for a student to owe so much to the school.
Maybe you can work for the school to pay off your debt? Ask them. I. Know someone in a similar situation years ago and he worked in admissions and even used this story how the school helped him. He remained in the job for 5 years and it was an unforseen stepping stone to a job he wanted.
No one is going to ask for your diploma! If you never pick it up, it truy won’t matter.
What will matter is if you need to have an official transcript in order to apply for a job, but cannot get your transcript because of unpaid bills. Is that the situation you would be in?
@happymomof1 - my husband was asked a few times to show his diploma when interviewing with international employers. Yes, we were surprised. That, however, is not a scenario OP needs to worry about right now…
Are you sure that you will be “graduating” or will you just be finishing requirements? Most colleges will not confer a degree until you clear the finances.
@katliamom That explains several internet offers for “authentic looking” university diplomas that I have seen online, complete with examples of their forged work.
@TomSrOfBoston I know, right? How hard is it to create a really spiffy looking diploma these days? Heck my kids could have done so in middle school on our home computer. But still, these employers asked. And copied it for their records!
@katliamom - I had forgotten about that whole international-employer thing. There were multiple steps involved in legalizing our US diplomas and transcripts when DH and I moved to his country at the end of grad school. In one state office, the person who handled my transcript produced a deliberately fancy-looking document with a shiny gold “seal” on it that she had designed specifically to make one foreign education ministry or another feel better about US document verification. 
Fun times.
My kids have never been asked for the diploma or an official transcript and aren’t slinging hamburgers for min wage.
Don’t let that make you think you don’t need this closure, OP. Or that you can ignore the debt. It will catch up with you, one way or another. You can’t say you have xx degree, if the college let’s you walk in grad ceremonies, but doesn’t officially confer it.
Nor can you attend grad school.
The degree will typically be granted even if money is owed, but the school can withhold the official transcript. It’s counterproductive for the school to completely withhold the degree itself … no degree means less opportunity to repay what is owed.
@kelsmom I think YMMV depending on the college. My kid was clearly told…no degree would be conferred until his bill was paid.
Once a student has their degree…what incentive would there be for the student to pay the bill? The schools want the money. And they should be paid.
I’m curious when this student knew he owed $12,000. I’m quite sure it wasn’t this week. How long was this debt accumulating? Was it just this term? What is this $12,000 for?
DH would not have received his PhD without that last bill being resolved. He had every box checked, but that one. Official transcript or no, the U wouldn’t have conferred the degree. The transcript would have said so.
In our case, it was the U’s mistake.
Many Unis will let you walk, but that’s ceremonial only.
OP should figure a way to pay this off, soon.