Should I put off college for a little while to save money to pay for school?

Paying for College
1

<p>Hi guys, I have a question regarding my financial situation and attending college. Basically, right now I am a freshman at BGSU and I screwed myself during the first semester, and I have no way of paying out of pocket since I won't be able to get any financial aid until I bring my GPA to at least a 2.0. I am only 18 right now and I don't think that I was ready for college. Its not that I can't handle the coursework, its just that I didn't go to a lot of my classes, so basically I wasn't mature enough to think about how important college really is. So what I am thinking is saving as much money as I can until I turn about 25-26 years old. I figure I will be able to save about $20,000-30,000 by the time I turn 21 because I may have a job working in the steel mill. I then plan to get my CDL and live on the road, having no expenses except for being able to survive (food, water, shelter). I figure that I will AT LEAST make $20,000-40,000 after taxes, and I will be able to save at least half of my earnings because I will be living like a bum. So I figure if I do that for 5 years, by the time I turn 26 years old I will have around $100,000 saved. Of course, I will take some of that and invest in stocks, mutual funds, and precious metals so that my money will "make" money.</p>

<p>I then plan to be able to return to college, starting at a satellite school of BGSU (Fireland's Campus) where tuition right now is only $5,000 a semester. I will be able to attend there for two years, then I will have to transfer to the main campus to finish the rest of my degree. Tuition and fees at the main campus are at about $20,000 per year right now. So AT MOST, I will have to pay $80,000 in tuition, fees, books, etc… I really believe that this is a solid plan, and although it will take tons of hard work and determination, I believe I will come out on top. It is going to be hard living like a bum for 5 years, but I think it is better than having to take out $60,000-$80,000 in student loans. If I do it this way, I should not have to take out any loans if my plan comes together as it should. And if I do have to take out loans, it will not be very much.</p>

<p>Part of my reason for wanting to stop school for the time being is because I really don't want to take out loans. I know it will be very hard not to, but I love a challenge. If this plan does work, I will have the greatest sense of pride imaginable. The reason I chose truck driving is because it is honestly something I have always wanted to try. </p>

<p>So, what do you think about this plan? Is it bad that I want to put off college for a little while to mature? Will it be weird if I return to college at the age of 26? </p>

<p>I plan on majoring in Accounting, by the way. </p>

<p>Thanks for all the help, in advance!</p>

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<p>If you really aren’t ready for college, then you shouldn’t be there. I have a nephew who is a long haul driver, and a brother-in-law who is a riverboat pilot. Both love their jobs. College can wait until you are ready.</p>

3

<p>I regularly teach students who come back to college after a break (sometimes after 20-30 years). They are usually my best students. Partly, they understand what WORK really means. Partly, they have more life experience that helps them connect what they study to the world they know.</p>

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<p>I think this is a pretty far-fetched plan, personally. But I certainly agree that if you are not ready to be in college you should do something else for now and see where it goes.</p>

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<p>You sound very wise for your age and better to make that decision now before you do spend a lot of money on college and end up with very little to show for it.</p>

<p>You mention working in the steel mills. What about heading to North Dakota to work in the oil industry? There is a part of me that wishes my son, who is about to go to college in Fall 2014, would decide to take a year to go experience that life, work until he is bone tired, and sock away a lot of cash.</p>

<p>In any case, as others have posted, if you recognize that you are not ready for college, then go do something else. Who knows if you might end up with a decent job and your employer might even pay you to go to school.</p>

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<p>"I screwed myself during the first semester, and I have no way of paying out of pocket since I won’t be able to get any financial aid "</p>

<p>THIS is the reason, you need to take off some time. You will have to pay for some courses to get yourself back up to snuff before you can start up again. So, you don’t have a whole lot of choice here. You aren’t going to be able to borrow money without a cosigner privately, and until you are out of academic trouble, you don’t get access to federal funds.</p>

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<p>Thanks for all of the replies, guys. I think that taking some time off will be the best thing for me at the moment. I know it does sound far fetched, but who knows. I believe anything is possible if you want something bad enough and are willing to do whatever it takes to achieve your goals. Anyways, to the person who mentioned going to North Dakota, I would really like to do that, it is just a very risky move. I have read articles written by people who have gone there only to be turned down and sent home. But it is something I am interested in right now. I would just feel out of place by having to start my college career at such an old age. But I guess I have to do what is best for me, because after all I am going to college to better myself. </p>

<p>Is there anything else you could add to help me out?
Again, thanks for all the advice so far!</p>

8

<p>

You will be surprised at how many older students there are. And someday you will laugh at the idea that you once thought 25 was OLD :). Your life as an older student will not be the same as it would be/is as an 18 y-o. But it’s about getting an education, not partying down for 4 years.</p>

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<p>I’m just curious–if you can be so organized about this plan for the next 4–6 years, and dedicated to sacrificing and saving to make it happen, how come you couldn’t motivate yourself merely to attend classes for one semester? Tough lesson, but financial aid is an investment in students who also invest themselves. Go and have other adventures–if you like them, continue, if not, you will not miss any classes next time.</p>

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<p>There’s a few reasons why, but the main reason is because I talked myself into just going to work and never going back to college, which was a dumb idea. I now realize the importance of a college education and the benefits it provides. Nobody can take your education. I really do regret it and am very disappointed in myself. I guess I have to live and learn. The next time around, I will be sure to try my hardest and maintain a 3.5+ GPA throughout my college career. I know that will be hard to do, but I hold myself to high standards and will do whatever it takes to achieve it.</p>

11

<p>Promises, promises. Just don’t get some girl pregnant over the next 5 to 6 years. Things happen.</p>

<p>I do know someone who was in this position after a poor showing first semester, failing one class. She got a job and went to community college until she was able to transfer back to the State 4 year. She did very well after that and even got a Master’s degree from a prestigious university and ended up teaching back at the state college.</p>

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<p>Yeah I don’ think that will happen, at least I hope not. I think anything is possible through hard work and dedication. Thank you for your insight.</p>

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<p>I certainly agree that you don’t want to take out big loans right now when it seems like you are not ready for college yet, but on the other hand if you leave you might never come back. This might particularly be true if you get married, have kids, and then have to work at that mill overtime to support them. I %^&*'ed around in college for the first two and a half years and came within one teacher’s mercy of failing out, but then pulled it around, graduated, got an engineering job, and have done fine - though I did suffer from the engineering knowledge I missed out on. So, I’m glad I stuck it out. But…I graduated without loans.</p>

<p>Maybe you should join the military and hope no new conflicts start!</p>

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<p>I’m in your same boat and am poor as dirt, but am going to school. I know that you don’t want to take out the loans, but just go for it and take out the loans. If you wait like 5 years to go to school, like you want to, you just won’t ever go to college. I have seen this time and time again. What happens is that people keep putting college off, and then they just wind up never going. I am going into serious debt to finish college, but I am still finding a way to survive. Take out the loans now; they will pay off in the future. </p>

<p>Also, what were you studying in college out of curiosity? If you chose a very hard major, I could easily see why you were overwhelmed. Also, if you can’t hack it at a University, then why don’t you try getting your A.A. from a community college first? I am now attending a University, but before I attended a community college. The community college wasn’t very hard at all. In fact, I think that it really provided a great transition from high school, then into a University. </p>

<p>If you must take some time off, then just take a very small amount of time off. Don’t take too much time off, or you just won’t go back. Also, look into the pell grant, you may be eligible for that. Also, bare in mind that if you take classes at a community college, they are generally a lot cheaper than a University, so it would probably a lot easier to redeem your financial aid.</p>

<p>EDIT: Also bare in mind that if you can just save up enough money to pay for one semester of classes, and you can pass all of your classes, then usually financial aid will restore your aid for classes.</p>

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<p>Yeah I have been told not to take too much time off from college by others. I would join the military, that’s actually what I was planning on doing. The thing is I had ear survey in 7th grade and it medically disqualified me. I tried getting a waiver, but with the military downsizing, it was to no avail. I’m sure I will think of something though…</p>

<p>I was studying accounting, so it’s not like it was crazy hard like engineering or some other math intensive degree. I only went for one semester though, and I screwed around ALOT and rarely went to class. (I know, stupid. I am very disappointed in myself). That’s what I was thinking about doing though; take a year off and work to save money, then maybe take out the loans. I’m not sure right at this point, I am really going to have to think about it…</p>

<p>Thanks for all the advice!</p>

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<p>You could probably find some crooked recruiter to weasel you into the army. They will do just about anything to get you to join. Don’t just quit college though, keep going NOW or you’ll just wind up quitting altogether. You won’t go back, trust me. Also, I screwed up my first semester as well. It happens to a lot of people. Just do better next time.</p>

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<p>You know yourself best. Are you really likely to put away all your money and live like a bum and save the rest? If you honestly think you can do this, and you are really mortified by the prospect of debt, then I’d say, why not?</p>

<p>I dropped out after my junior year for financial reasons. I worked like crazy for a year, then returned, and got my degree. That was way back when you could earn enough in a year to pay tuition. I got a job as RA for the senior year, so everything was paid.</p>

<p>I got lots of opposition from folks saying that I’d never go back, but I knew I really wanted a degree and I wasn’t about to give it up with just one year’s worth of classes to go. This is your life, your trip. Anything is possible. I think you should consider that you will be delayed to start your career until you’re about 30. Does that sound ok to you? Will you love the open road, and then love college and late career in accounting? Just remember you can always change your mind if you get impatient for that accounting degree.</p>

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<p>I don’t see a problem with your plan. You are not ready to get what you want to get out of school. You don’t have the funds to pay for school. You have a plan regarding what you will do in the meantime, which includes earning money to pay for your degree. </p>

<p>My nephew went to school because he was supposed to go to school. He left in his final semester because he didn’t want to “be” what he was studying to be, he was stressed out, and he had maxed out his student loans. He’s been driving as a long-haul trucker for the past year and has repaid his loans. He is not quite ready to go back to school, but he will. In the meantime, he is going to travel a bit and try to figure out what he wants to do with his life. He is 24. Really, that is SO very young!!! You are doing somewhat the opposite of what he did … leaving school near the beginning instead of near the end, and paying off the loans you plan to work to avoid borrowing. I think it can work just fine.</p>

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<p>Your nephew’s story of dropping out in senior year is a familiar one in the college biz, kelsmom. I’d dare say MOST children aren’t ready for college at 17 or 18. Some can grow up very fast and succeed beyond their expectations. Some crash and burn first semester. Unfortunately for their bank accounts and education, some realize that their career path is not for them sometime in between or after they graduate. Few get the most out of what a college offers when they first arrive. It ain’t thirteenth grade, and it’s not free. The debt they acquire often is a crushing psychological burden that incapacitates them (remember that this is the first generation to have to deal with debt that ranges from a new car loan to a mortgage): they feel they have to go on because they’ve invested so much/they feel they have to quit because they’ve invested so much. I’ve seen children go into deep depression over this issue.</p>

<p>If students need to interrupt their college careers to work awhile before or during, what is lost? Parents go all hinky about they’re never going back. Parents need to have a little more faith in their child and child-rearing. There’s no script out there that fits every student. Many children do not reach cognitive and emotional maturity, at least enough of it to excel in college, until their twenties. If parents cannot support their child interminably, then let them know what the limits of your resources are and make clear your expectations. </p>

<p>Okay, I’ll get off my soapbox, but one more word of caution to parents: take their complaints seriously when you hear them. Give your adult children permission to seek medical help if they find themselves suffering from lengthy periods of sadness and/or hopelessness, heightened irritability, repeated anxiety, persistent aches and pains, inability to leave their rooms, weight gain or loss, or similar worrisome symptoms.</p>

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<p>The key words here buddy are, “Back when you could earn enough to pay tuition”. I dropped out of college for about a year and had this guy’s same idea: I was going to save enough money up to be able to pay my own way through college. However, what happened is I just wound up working crappy jobs and wasting an entire year of my life. In this day in age, it almost seems like you have to have some type of degree or certificate in order to have any type of decent paying job what-so-ever. </p>

<p>I have a question for the OP: If you feel that you just can’t hack it in college or whatever, then why don’t you try going to some trade school and become like a medical assistant, an HVACR guy, a welder, or a medical billing specialist? Those classes are technical and are not academic what-so-ever if you go to one of the more hands-on schools. Just choosing not to go to school period in our Meritocracy of a nation, is a very poor choice.</p>