I'm oblivious as to how people afford this...

Paying for College
1

<p>I'm at a loss. I've tried my hardest to make college work, but it is downright impossible. I am an individual that has zero assistance, but is also considered "Dependent", so consequently I am only able to receive roughly $5,000 in financial aid a year (no where near enough). My most recent attempt to try and make things work was to apply for a PLUS loan, and then hope to have it deferred to me due to credit rejection, but alas my unhelpful parent was approved.
I just don't get it. I'm not even shooting for the stars - I elected to attend the university of Michigan's Dearborn campus because of its mere $9,000 cost of attendance a year. </p>

<p>How do people afford living on campus, going to an expensive school, etc? I'm starting to believe the stereotype that College is simply and undeniably for the rich and privileged.</p>

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<p>How do people afford living on campus, going to an expensive school, etc</p>

<p>Frankly…most aren’t able to “go away” to college. Many people just can’t afford to pay for tuition, room, board, books, etc. That’s why many kids go to their local state college or their local community college.</p>

<p>Can you commute to a state school or community college? What state school is close enough to drive to?</p>

3

<p>How much are you earning over the summer and thru part-time work during the school year?</p>

<p>You may need to go to a CC first, work summers and part-time during the school year, and set some money aside. Then go away as a junior. At that point, you’ll have some savings and your loan limits will be $7500 per year.</p>

<p>I’m curious…are you saying that your parents won’t contribute one cent for college? Do they not want you to go?</p>

4

<p>Hang in there Michigan. Many people work and slog away a course or two at a time. Some folks head to the military or National Guard or Coast Guard for a couple of years (after age 24 you are no longer a dependent). </p>

<p>For now you may need the relief of a technical skill – plumbers, electricians, pipe fitters and others can make serious money – I read one piece that said that too many of our electrical linemen around the country are retiring and utility/power companies are not finding enough physically fit young people to hire and train to replace them. At any rate, there are some skills that are taught while you collect a pay check. That business of being paid while you work may offer the relief you need right now. </p>

<p>There is always merit in being an educated person – but, right now, it may not make sense to borrow money to get many of the available degrees – some money, sure – but many are finding that college is just too expensive for the jobs that are available. </p>

<p>So how are others doing it? At my house I shop for clothes at Goodwill, we have an ancient pair of vehicles and DH spends part of each summer getting firewood in for winter heating. It isn’t pretty. </p>

<p>I still hope you will keep after finishing an education. We do have one friend who has a passion for computers and he was hired as a college sophomore to work at the campus computer lab. That talent has kept him afloat. He’ll make house visits to trouble shoot computer problems and his competence and cheerful help earned him a departmental scholarship as a junior. </p>

<p>So, no one clear path – just lots of folks patching things together one piece at a time.</p>

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<p>The system is completely devoid of logic. It automatically assumes that your parents are able to contribute to your education simply because they house you. If I was able to file as independent I would not have a problem. </p>

<p>It’s frustrating because I did very well - in difficult classes - during my first semester. It’s such a shame that I may have to give up my life long ambition of becoming a doctor due to finances. Maybe I will take up politics in order to work on bringing a real egalitarian principle to higher education in America. </p>

<p>And no, my dad makes a meager $70,000 a year before taxes. He really isn’t capable or willing to contribute to my education.</p>

<p>So much for the American dream…I guess you have to be asleep to believe it.</p>

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<p>It’s frustrating because I did very well - in difficult classes - during my first semester. It’s such a shame that I may have to give up my life long ambition of becoming a doctor due to finances.</p>

<p>Wait…are you saying that there aren’t any state schools that you can commute to? Or maybe find cheaper housing? Or work during the summer and get some money together?</p>

<p>Even if you had to take this semester off (by asking for a semester leave of absence) and spent the next 7 months working your hiney off, you should be able to save enough to cover your shortfall for awhile. Then other summers could cover other shortfalls.</p>

<p>And…yes, there are people who earn $70k per year who help with their kids college costs. maybe not a lot, but a few thousand. </p>

<p>Does your dad know that he could get a tax break if he helps you (or a tax credit) or some kind of breaks? Hopefully some here can explain this.</p>

<p>Since you’re pre-med, you could do this…commute to a CC but don’t do your pre-med pre-reqs there (except for maybe Cal and Stats). Do all your other lower divison courses, work and save, then transfer to a 4 year and do your pre-reqs at the 4 year.</p>

<p>You have to understand that a college education is not a “right”. And, the primary obligation to pay for college is with the family.</p>

7

<p>$70,000 isn’t rich… but it ain’t meager. It’s higher than our household income. Your dad may not be willing, but unless there’s something you haven’t told us, he has at least a little capability to help you. It’s just a matter of priorities. We have two kids in college, plus I’m back in college full-time and working a job between classes… and I’m in my 50’s. Grants, loans, and payment plans.</p>

<p>If he doesn’t want to help, it’s his money. I am sympathetic with you, because in my view it’s a parent’s responsibility to help their kids with college if they are able to.</p>

<p>I agree with the others that your best bet may be to find a way to work your way through college a bit more slowly, working part-time, taking classes part-time. You need to keep in mind that all of that work, patience and commitment will be in your own best interest in the long run. It’s all to your long-term good.</p>

8

<p>Personally, I recognized from a pretty early age that if I worked to get into a college that met all needed aid, then I could probably afford a pretty expensive college. Poor family, very low EFC. For perspective, we make around $26,000 a year, and there are seven people in my immediate family.</p>

<p>So I worked hard, applied to a good school that met full need (as they calculate it), and I now have to pay approximately $1,600 a semester (including other costs like books, housing fees) for a college that costs ~58k a year. It’s affordable with the job I will have during summer.</p>

<p>But most people I know applied to different state schools. I feel bad telling people about the college I’m going to; I think people assume that I can pay full price and that I’ve never had to experience the financial restraints they are now experiencing.</p>

<p>If I were in your position Michigan, I think I would work as much as I could, at any open jobs, to get enough money to get back into school.</p>

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<p>If you intend to go to Med School why aren’t you taking the cheapest path to get there???</p>

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<p>I still fail to see how $8,000 a year university tuition is expensive.</p>

<p>And I plan on committing to the Army as an FOS for Med school.</p>

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<p>*If you intend to go to Med School why aren’t you taking the cheapest path to get there??? *</p>

<p>My thoughts indeed!</p>

<p>This student thinks he’d be better off as an independent borrowing those amounts…but that would just leave him with too much undergrad debt for someone who wants to go to med school. </p>

<p>I think a strategy could be one of the following ideas…</p>

<p>Switch to a CC and take all the non-premed courses. </p>

<p>Work over the summer and set money aside for university years. Repeat each summer.</p>

<p>Work part-time during the school year for daily pocket money.</p>

<p>Transfer as a junior</p>

<p>Take premed courses and finish major.</p>

<p>Use saved money and $7500 per year student loans to pay for the last 2 years.</p>

<p>Apply to med school </p>

<p>Or…</p>

<p>Take a leave for this semester.</p>

<p>spend the next 8 months working as much as possible (even work 2 jobs if necessary). </p>

<p>Maybe take a course or two at a local CC as long as it doesn’t hurt GPA or job opportunities.</p>

<p>Return to school full time next fall, using some of the saved money for the shortfall.</p>

<p>work part time during the school year for pocket money.</p>

<p>Work full time over the next summer.</p>

<p>continue going to school full time, working part time, and working full time during the summer.</p>

<p>Apply to med school.</p>

<p>or…</p>

<p>Transfer to a state school where you can commute to.</p>

<p>repeat above suggestions for earning/saving money for school use. </p>

<p>Apply to med school.</p>

<p>*I still fail to see how $8,000 a year university tuition is expensive.
*</p>

<p>It’s only “expensive” if you can’t afford it AND you need to pay for all of it with loans…which you can’t get.</p>

<p>Is the school’s COA $8k or $9k? What does that cover??</p>

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<p>I don’t think $8000 or $9000 a year is expensive. That’s a very reasonable cost. What’s hard is that you’re not getting any help from your parents.</p>

<p>Now, when you said that’s the “cost of attendance” – do you mean it includes room and board and tuition and everything? That’s usually what people mean when they say cost of attendance. </p>

<p>If that’s just the tuition and fees, then it’s pretty typical of many state universities, especially regional campuses. When you add room and board on top of that it does add up. You may want to too look at cheaper options – either schools you can live at home and commute to, or else that the community college route for a couple years and then transfer.</p>

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<p>In-state tuition and fees: $9,456 </p>

<p>Wow…that’s high tuition for instate tuition at a non-flagship. </p>

<p>So, are you commuting to this school?</p>

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<p>If you dad is making $70,000 per year, then he could give you $2,500 a year and more than likely get every penny back the next year in his tax refund. $2,500 annually, along with what you are getting already, it seems would go a long way to paying your tuition, which really is not that high.</p>

<p>See last year’s publication 970, then go to the IRS website to get the new publication 970 that will come out in a few weeks. The credits (except for the Hope Credit, which has been continued) will be in effect in 2011 and 2012 tax years per their recent extension by Congress and Obama, so that would give you $5,000 for college expenses the next two years.</p>

<p>And if your dad claimed you on 2009 and 2010 taxes, he can file an amended tax form 1040X and very possibly get up to $5,000 for 2009 and 2010 ($2,500 for each tax year) if he paid that much in federal taxes, which most people making $70,000 probably did. Of course, your dad would have to let you have the money he gets from these tax breaks to help pay for school.</p>

<p>So, assuming you started school in 2009, these tax credits could mean $10,000 in money you can use for college for tax years 2009-2012.</p>

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<p>I see you just completed your first semester. So, if your dad has not filed taxes yet, then he would just claim the credits for the 2010 tax year, which would not require amending previous tax year(s) by using form 1040X. Most people who make $70,000 probably pay 4-6,000 dollars in fed taxes, and he could probably get $2,500 of that shaved off of what he owes for tax year 2010.</p>

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<p>It’s probably too late for the original poster, but some students who are hoping to become doctors can qualify for government loan repayment, if they’re willing to work in under-served areas for a period of time after graduation. You can see more here:
<a href=“Loan Repayment | NHSC”>http://nhsc.hrsa.gov/loanrepayment/&lt;/a&gt;&lt;/p&gt;

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<p>Are you currently enrolled at UM-Dearborn? If so, can you take fewer classes so that you can work while you go to school? Lots of people do it — I live in your area, and it is common. If you are not at UM yet, can you go to HFCC for as many classes as possible? That would keep the cost down for you. You should speak with an academic counselor to find out how to make it all work for you. I know that you can do this. It might take you a bit longer than you want, if you have to go part time. Keep at it, though!</p>

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<p>This thread was started THREE years ago! The OP hasn’t had CC activity since January 2011!</p>

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<p>Barkingtrees,</p>

<p>Please use old threads for information only, do not post and revive them.</p>