How do you guys plan to pay for college?

Student Lounge African-American Students
1

<p>I'm interested in seeing how you guys are paying for your college educations. I'm really starting to like the University of Pennsylvania, but it might cost about $25,000/year. I know my parents could contribute some, but I'll probably have to figure out how to handle $10K-15K of that. I'm thinking I could work as a tutor while I'm in college so I can pay back my parents. I've heard of people charging $50/hour to tutor upper class kids in the city... that could work for me (; But anyway...</p>

<p>Are your parents paying the entire bill?
Did you get a university scholarship?
Are you applying for tons of outside scholarships?
Will you take on a bunch of loans?
Have you worked to save up a lot?
Anything else?</p>

2

<p>I’m still a junior, but I plan to pay some with the plethora of scholarships that I’ll begin my senior year. </p>

<p>“Are your parents paying the entire bill?”
I feel like my parent’s might offer, but they have quite a bit of debt…
“Did you get a university scholarship?”
Hope I do!
“Are you applying for tons of outside scholarships?”
Yep!
“Will you take on a bunch of loans?”
Probably…which is discouraging. Financial aid through grants and scholarships will definitely be a deciding factor when I’m choosing a college to attend.
“Have you worked to save up a lot?”
Nope, that money’s for my car :slight_smile:
“Anything else?”
This “economic recovery” can be somewhat disheartening; I have faith that hard work will pay off in the end…Right? ;)</p>

3

<p>well im going to georgia tech starting this fall and for everything it’s about $40,000. I got $11,800 in financial aid, parents are paying $4,000 a year and the rest is all loans…plus to get my degree I have to stay for 5 years rather than 4 so imma be in a lotta debt when I graduate. I’ve got like over $1,000 saved but that’s going toward my laptop and stuff for my dorm. No scholarships. Just praying getting an engineering degree from there gets me a good job or else it’s bad news bears…</p>

4

<p>Paying with the power of prayer lol.</p>

5

<p>I’m still considering going to a community college my first 2 years but other than that I’m going to apply to outside scholarships.</p>

<p>Sent from my SPH-M910 using CC</p>

6

<p>^But wouldn’t that be weird social life wise? Like you would have to make all new friends and go into a place where everyone already has their little groups and friends.</p>

7

<p>Ya but my family doesn’t think I’m ready to go away from home all by myself because I’m naive and a pushover. If my mom won’t pay I think I’m better off with community college since I’ll be living at home and saving money.</p>

<p>Sent from my SPH-M910 using CC</p>

8

<p>My parents are paying for my college education. However, if I end up going to a private university that charges 40-60k per year, I’ll be taking on loans and work study to help out my parents, since I won’t qualify, most likely, for financial aid. We have a lot of local scholarships at my high school, so I’ll also be applying for those.</p>

9

<p>I’m with Zombie, I am praying like crazy. Anytime I bring up college money my mom says “Your getting a scholarship because your black!” I wish it was that easy…</p>

10

<p>I was originally planning on going to school in D.C. and taking out around $30k/year in loans, but realized how ridiculous that would be. At this point, I’m most likely either going to San Diego State or a community college in Southern California for 2 years then transferring to save money.
@ZombieDante, there are clubs and organizations for students to join at a community college. Depending on the CC, not many students will come to the CC with an already-formed group of friends.</p>

11

<p>I’m going off to a Top 20 Liberal Arts College this year. Luckily they met 100% of my need (my family is low income) so I literally got a virtual free-ride education to a school worth around $240,000 (for all 4 years). I guess it really pays to be poor–if you work hard that is :stuck_out_tongue: To answer your questions. . .</p>

<p>1) Are your parents paying the entire bill?</p>

<p>No, Together (they’re divorced) they will pay about $4,900 a year (about $2,450 a semester)</p>

<p>2) Did you get a university scholarship?</p>

<p>Yes, it was need-based. My institutional grant was about $51,238 a year. COA is about ~$57,000. I have to contribute about $1800 and I have a work study amount of $1700. Federal and State Aid (I qualified for the Pell Grant of $5,550 would have covered everything for me, but my college replaces the institutional grant with Federal and State monies. I guess you can’t have everything :()</p>

<p>3) Are you applying for tons of outside scholarships?</p>

<p>I applied to some, but I never got any, unfortunately. Hoping to apply for some during the school year.</p>

<p>4) Will you take on a bunch of loans?</p>

<p>No. I think I can finish undergrad without any debt. Grad will be another story, though haha. . .</p>

<p>5) Have you worked to save up a lot?</p>

<p>No. Jobs are hard to come by where I live.</p>

<p>6) Anything else? </p>

<p>If you are a low income student I would definitely encourage you to look for schools that will meet about 100% of you need. It helped me a GREAT deal. </p>

<p>best of luck</p>

12

<p>There is NO reason to be in a LOT of debt for college ESPECIALLY if your major is in high-demand. In many corporations, the Georgia Tech grad will part of the same team and same cubicle area of the University of WhateverYourStateIs.</p>

<p>Just throwing a few hints from someone in the game for 20 years.</p>

13

<p>I’m leaning more towards community college so I don’t think $ will be that much of an issue.</p>

14

<p>Anyone going to be debt free?</p>

15

<p>Are your parents paying the entire bill?
-No, not the entire bill. She, my mom, has paid for four years of my tuition and two years of dormitory. </p>

<p>Did you get a university scholarship?
-Yes, I did get a nice chunk from my university. </p>

<p>Are you applying for tons of outside scholarships?
-I planned to apply for a lot, but I haven’t applied to any and dont plan to until I am in college. </p>

<p>Will you take on a bunch of loans?
-I won’t be needing to take out any loans. </p>

<p>Have you worked to save up a lot?
-I haven’t work to save up for college. Mainly what I’ve saved is for future expenses like my second car (BMW M3) or my apartment that I’m hoping to get my junior year. </p>

<p>Will anyone be debt free?
-Yes, I will be 100% debt free. It’s been my goal since my freshman year of high school. I’m pretty stoked that I’ve achieved this. I’m proud of myself an I know it will help me in the future. I won’t have to worry about student loans. I might even be getting $1,000 in the mail every semester! This really sets me up to be financially secure in the future.</p>

16

<p>A combo of need-based and merit based aid will reduce my per year cost to a maximum of 5k. My part-time job will take away another 2k per year, and my work study another 2k, making it just 1k a year.</p>

<p>So wherever my relationship with my parents go, I’m not too worried about graduating with debt.</p>

17

<p>Are your parents paying the entire bill?
About 85% of it. I guess actually some comes from my mother’s relatives.
Did you get a university scholarship?
My school only has need based aid.
Are you applying for tons of outside scholarships?
Nope.
Will you take on a bunch of loans?
The other 15% or so comes from me, I guess I’ll pay the loans off when I get a job.
Have you worked to save up a lot?
Nope.
Anything else?
I chose one HYPSM school over another, and the one I turned down would have left me debt free and left my parents with extra money they could use for my grad school. My mother constantly complains about this, but she’s also stated that the 85/15 split comes not from any principles of hers but from the fact that some amount of tuition was left for my sister after her college fund was spent. They just want me to have the same debt as my sister, so wouldn’t they have orchestrated some way for me to be in debt no matter where I went?</p>

18

<p>Wow. I guess what they say about most academically competitive blacks is true.</p>

19

<p>^What do they say about them?</p>

20

<p>My mother will most likely pay nothing/next to nothing if I can get into a full need met, no loans kinda top school.
We’re that broke (it’s gonna be difficult buying dorm stuff alone). I’m looking for a job now.
If I can’t get into that top school, probs community college.</p>

<p>And practically no scholarships for me bc gap year student.
<em>sigh</em></p>

<p>Oh, and no loans.</p>