Hello all!
I’m a college sophomore at Pacific University in Oregon and it hit me today that I can’t afford college anymore.
My balance is $4,737…
I maxed out of my financial aid loans, grants, school aid, and my family does not have a high enough credit score to cosign on a private loan.
It sucks because I get honors and I am involved in my school.
What are my other options to either get money for school, or get a career without it?
How much have you earned at a job this year?
If your parents apply for a Parent Plus loan and are rejected you can get another $4,000 loan.
^^^ That’s actually a very good idea!
If your parents got the American Opportunity Tax Credit of $2500 on their tax return, can they help you out by putting that $2500 toward your balance?
Yes, have your parents apply for a Plus Loan and if they get rejected you can get $4k more to pay towards the loan.
That said, you can’t afford THIS school. After you get this paid off, you need to withdraw and transfer elsewhere. is there a college that you can commute to from home.
Others reading this need to heed this story. Paying for college is a 4 year deal. If you’re going to be short during a future year (because one time awards will go away or whatever), then that isn’t the school for you.
Why was this school affordable LAST year, but not THIS year?
Since you’ll have outstanding loans, you need to go to college next fall (just not this school), so you may need to take some CC classes next fall while your transfer process goes thru to a univ.
Do you have a univ near you that you can commute to from home? are they accepting apps for fall? (edit…this won’t likely work since you won’t have your balance paid off yet to send transcripts…you’ll need to take CC classes next fall)
What is your major and career goal? How much have you borrowed so far?
You have work-study?
You have a full-time summer job?
You live off-campus in as cheap a room as possible?
Or, can you RA and not have to pay room and board therefore?
I’m assuming they are letting you attend this semester despite how much you owe. I’d think it would be in your best interest to talk to a counselor, an FA counselor but maybe a regular counselor at the college too, and see what options you might have.
If you are involved with your church or synagogue or mosque, could you put together a fund-raiser with their help?