<p>2 years in community college- estimated cost of 8000 a year TOTAl including fees, books etc..</p>
<p>2-3 years in private university- 40-50K total a year.</p>
<p>Study abroad- 10K-15K </p>
<p>Im not eligible for financial aid because my EFC is too high. i cant pay for school with my part time job because the funds are going elsewhere. My parents can help me out a little in community college but once i transfer im pretty much on my own. The first 2 years i will also take out an unsubsidized stafford loan/ anyway i know im going to end up in debt. I will be double majoring in finance/international business or finance/economics and maintain a high GPA so i should be able to get a job out of school. What are my options my parents have no money in the bank they spend all their money on the house and bills. I have no money either.</p>
<p>There are a few plans but the most solid one is probably to work full-time, save and pay for school. </p>
<p>If you have very high test scores you may be able to find merit scholarships but I think it may be harder if you don’t have a regular high school background. </p>
<p>If you are going to cc, I really recommend you work while in school. Have you looked into the possibility of working in some area where they will help you pay for school? Would a bank do that? (You may need to go to school part-time.) Do you live in an area where you could commute to a college? </p>
<p>How old are you? Once you are 24yo, you can apply as an independent student and you could qualify for aid without counting on your parents BUT that doesn’t mean you will get a lot of $ because they will expect you to use a LOT of your own earnings toward college and the amount available as grants is little (Pell and the school can decide whether to give you SEOG, Work-Study).</p>
You are expected to contribute to your own education. I can think of many many “elsewheres” I would like to spend my money, but I have kids in college right now, so I am paying for college. Choosing to spend your money on something other than college does not qualify you for need-based aid.</p>
<p>Bad idea. It’s not realistic or responsible to try to be full-pay at a private university when you don’t have any money. It’s also impossible, unless you qualify for and take out huge private loans – which is theoretically possible but a horrible idea.</p>
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<p>If you don’t have any funding, why are you contemplating study abroad programs? I’m not bashing the idea; it’s a great experience, but if you can’t afford it you can’t afford it. </p>
<p>You’re going to have to regulate your demands a little bit here. Is there any reason why your in-state publics are out of the question? By all means, keep a few high-priced privates with merit aid on your list, but don’t rule out a public university in your own state for no reason.</p>
<p>OP: You just asked these same questions last week and received some good advice. I’m afraid that there isn’t a magic solution to your problem. I know you feel you have to go to an expensive school to succeed in your chosen job field but I think you’re going to have to find another more inexpensive option.</p>
<p>Community college is a good start to keep costs down. Please do look into your state schools.</p>
<p>I checked through your other posts; yeah, you REALLY need to start being realistic about your plans. No bank is going to lend you $150,000 for college. That’s just ridiculous and if you’re going to go into business you’re going to need a more realistic attitude towards finance. Your dreams are not impossible; you should definitely seek merit-based financial aid, but the whole “Top 50 private school or bust” + “study abroad” + “3 additional years of schooling” needs some serious thought.</p>
<p>*but the whole “Top 50 private school or bust” + “study abroad” + “3 additional years of schooling” needs some serious thought. *</p>
<p>You’re setting yourself up for failure. You’ve set up this unrealistically expensive goal for your education that you’re not going to be able to completely pay for. </p>
<p>You’re forgetting that you can go to a “lesser” undergrad (like Penn ST or UPitt) and then go to a top, top school for an MBA.</p>
<p>to the above poster, your absolutey right i know i can go to PITT and then get into a top MBA program but im worried about securing a job first, nowadays, its just sooo competitive and it seems only the ivy league or top students get good financial careers right out of school. Ive looked into smeal but they require you totransfer after 2 semesters and thats just unrealistic because they will probably want high school records and i have a GED and theres soo many other competitive kids from penn state branch campuses and other universities who are trying to get in. But i have looked into PITT and their study abroad program is only like 5K and tuition to the school will be a total of 23K a year including room and board. BUT PITT is not a top ranked school and its in Pittsburgh whats there for me? the Russian mafia? They dont have too much trading jobs in pittsburgh and the city is pretty small ive been there. SO i would have to relocate to chicago or new york after school which would cost me much more money not to mention id be from PITT while other kids are from DePaul and Syracuse and ofcourse the ivy league kids.</p>
<p>but say i do go to PITT what career should i break into after school that would make me competitive into a top graduate program? I know i would have to get letters of recommendations from PITT and ofcourse a high GMAT score but it also says work experience… again dont forget im trying to end up in trading/hedge funds/ or investment banking. I know how to break into investment banking from PITT id have to network with alumni and get a near perfect GPA that would be the only way. Personally, id rather work as a proprietary trader or hedge fund trader any day of the week.</p>
Yes, you mentioned this on your other thread - that you want to keep the money you earn, invest it in the market, and have it earn compound interest instead of using it toward paying for college.
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<p>What we are telling you is that we would **all **prefer to keep the money we earn, invest it and reap the rewards of compound interest while someone **else **pays for our (or our child’s) education.</p>
<p>You do not become eligible for need-based financial aid because you wanna keep your own money to invest and become rich. Sorry.</p>
<p>* it seems only the ivy league or top students get good financial careers right out of school.*</p>
<p>This isn’t true. There aren’t enough Ivy League grads in finance/business to fill up ALL the business/finance slots. You’re not doomed to failure if you don’t go to an Ivy League/top school.</p>
<p>* Ive looked into smeal but they require you totransfer after 2 semesters and thats just unrealistic*</p>
<p>No more unrealistic than transferring to an Ivy League college after two years at a CC. The reality is, some Ivies don’t take transfers (Princeton doesn’t) and for the ones that do, it’s VERY competitive. I find it interesting that you are willing to take a gamble to apply to a top school but NOT to transfer into a school you can actually afford.</p>
<p>SO i would have to relocate to chicago or new york after school which would cost me much more money</p>
<p>Not any more money than it would cost you to relocate from Dartmouth or Brown to Chicago or New York. A lot of college students relocate for their jobs.</p>
<p>What you have here is an unsustainable plan. You don’t have enough money and you want to spend the money you do have doing other things. This is a recipe for disaster, and you really need to add some affordable options to your college list. Ditch the idea of investing any substantial amount of your money while in college. Your focus is getting through first; you’ll have 50-60+ years to invest once you’ve gotten your degree.</p>
<p>I just want to point our 1 IMPORTANT thing – IVY league grads are not finding jobs in this economy – IVY is not a golden ticket to life. </p>
<p>I’m sure many of the parents remember a great Wharton student who struggled last year to find a job. Relocated, criss-crossed the country interviewing. He did eventually land a job, but the task was daunting and a wake-up call that even the top schools weren’t placing all grads in jobs.</p>
<p>Listen to the posters above. They are giving you EXCELLENT advice. </p>
<p>You haven’t even started CC yet and you’re already planning to transfer to a “top 50” business school and a “top 25” for your MBA. That’s really jumping the gun! It’s great to have dreams, but you need to understand that that’s what they are – just dreams. If you want to move forward, then you need to lower your expectations to something more realistic, something you can actually achieve. </p>
<p>If you have no money of your own, and your parents have no money available to fund your education, then you need to reassess your plans. CC + State school seems to be the lowest cost, most practical approach, for you to earn an undergraduate degree. If you are careful, you might be able to fund those 4 years with a reasonable level of debt and the money from your part-time job. As others have noted, if you can’t afford school, you cannot just pocket your earnings to “invest” and expect others to pay for your schooling. If you really feel that strongly that you have to keep investing your earnings right now, then you need to get a full-time job and postpone college until you have earned enough from your investments to pay for it.</p>
<p>Then, after getting your bachelors degree, you will probably need to work for a few years – and be forewarned that it almost certainly will not be your dream trading job at that point – and save some money before applying to graduate school for that MBA. (Most top schools require work experience for their MBA admits anyway.) If you are fortunate, your employer might offer some educational benefits that might help partly cover the cost of your MBA.</p>
<p>Sorry to be so blunt about it, but you’re just wasting your time – and our time – asking people about how to pay for an impossible dream.</p>
<p>I recommend dealing coke. (It’ll also pay for the jetpack and the private island you need to be taken seriously on Wall Street).</p>
<p>No, that’s not really a good idea – the profit margins are surprisingly low compared to other, equally well-paying fields such as computer crime and enterprise corruption (and the prison sentences are really stiff too!) but it’s just as crazy as this guy taking out huge loans for an expensive college that he can’t afford and a study-abroad that he can’t afford and some kind of kooky investment program that he can’t afford (if you’re making the $7.50/hour federal minimum wage AND going to school full-time, there’s no way – and I mean no way – you’re paying for housing and food AND *setting up a hedge fund<a href=“!!!”>/i</a></p>
<p>gardna your just a plain ■■■■■■!!! if i were to even open a hedge fund it would be in my late 30s…</p>
<p>anyway ive been thinking over t and I should probably go to PITT. IT will cost 23K with housing. The study abroad program an abroad internship cost 5K each. I will double major in finance/global management and the global management requires me to study abroad. As for paying for school. The first 2 years in CC i wlll save up est. 8-10K. When i transfer ill get a part time job and use those 2-3 years to pay for school. The money saved from community college will go into stocks ofcourse I SIMPLY cannot deviate from my plan i rather not go to school than to deviate period. I rather die. My parents will pay for my community college its only fair since ill be stuck with university loans later on. I mean i may pay a little too but theywill pay for most of my community college. Or ill just take out unsubsidized stafford loans and they will pay the interest and later on the loans. Either wy i need 10K by the time i graduate to contribute to a prop firm so they will take me seriously and give me a position.</p>
<p>Technically speaking, to open your own hedge fund you would only have to pay for lawyers accountants prime brokers etc, which would only cost around 100K a year. Then you have to contribute a few million yourself and if you have a proven track record(uhm thats why im getting into prop trading) then the money will simply find you with a little networking on your behalf… Starting a hedge fund is easy if you have money and experence. Thats why by the time im 40 ill have well over a few million and obviously a proven track record. I dont mean to sound arrogant but this is what i know best LITERALLY.</p>
<p>plus PITT is atleast ranked top 100 undergrad business i can work with that… but if i cant get into PITT or get accepted into DePaul ill be stuck with loans o well as long as i get a good career out of school ill be able to pay off the loans. After all loans are deferred until 6 months after your out of school…</p>
<p>FromRussia90, delighted to hear you’ve come up with a plan that will fit your budget. I’ll offer a little additional advice. You say that “Starting a hedge fund is easy if you have money and experence.” Another thing that you may find helpful is good people skills. People with money to invest have many different options. They’ll consider rate of return, risk, and track record. They’ll also consider the personality of their advisor. Oddly enough, they might not want to do business with someone who calls people “■■■■■■■”. Especially when you’re the one not getting the rather broad sarcasm that Gardna was wielding. For one thing, they might not like being insulted. For another, they may have relatives or friends who are mentally handicapped.</p>
<p>Also, clients, future bosses, and professors appreciate good spelling and grammar.</p>