Post # 1
I am in a teacher licensure program. I do a year-long teaching internship at a “local” elementary school. During that year, I’m still considered a college student because the internship happens through two “field experience” courses. Which means that while I cannot work, and I’m commuting a considerable distance I am also responsible for tuition. On the FAFSA my EFC is 0. However I’m worried about my financial aid options. I’m afraid I’ll end up only being offered more student loans. I already have about $12,000. I have worked all through school and paid/ am paying for everything myself, as my parents are in a poor financial situation , and I’m already stressed about the loans I already have. Taking out more loans would really freak me out. My parents are totally unable to help as my dad has become disabled and has no income right now. I’m afraid my only option will be loans…. again…
I do not like being in debt, whatsoever. I was hoping to get married fairly soon, like within 2 years. my soon to be fiance wants to wait to get married until we can afford a house. How on earth would we be able to afford a house when He’s planning on entering law school after I get my license? I feel like my life has and is being delayed forEVER. I have applied for all kinds of scholarships, but have not heard any good news yet… and I do NOT want to spend the next 5 or 6 of my child bearing years working to pay off loans (mine and his) while putting off marriage, moving, a family, and so on. Anyone else feel like this? That your whole life is on hold because of college-related situations that are out of your control??
Gah, why couldn’t I have just been born into a financially well-off family.
Post # 3
I am sorry you are feeling this way girl. I know how you feel though. I go to a private school and have 2 years left and I am already in 32k of dept. 🙁 I know it is crazy, but in Ca, it is either wait 5 years to get into a program or go the private route. I hate how school kills us and how you literally have to be making less than 20k a year to qualify for fafsa. How much dept would it put you in? only a couple thousand more? and I know law school will be a significant amount as well. I do not have actual advice but I just know how you feel. I am sorry 🙁 what does your Fiance say about it?
Post # 4
@MissPatience: Ugh, I sympathize. Loans totally suck. However, there are many options for paying them off- there are usually income-based payment plans you can get, which make you pay more over the long term because of the interest, but in the short term do allow you a little more spending money than the 10-year plan or whatever. Once you are no longer in school it is possible, unless your loans are immense, to support yourself, pay at least some of the loans down on the 10-year schedule, and save a little as well. IF you work full-time and do not have expensive rent. So– there is hope, even with over $12,000 in loans!
As for not getting engaged until you can afford a house– I definitely understand that desire. . . BUT it may not be absolutely necessary. How strongly does your future Fiance beleive in this? Would he consider renting after you get married? I don’t think it’s worth putting off one’s life forever because of (lack of) money for buying a house. It’s an awful feeling and a strain on relatonships! So, maybe you guys should talk about how important owning a house before you’re married really is, and see if you can do something– compromise? Agree to get a less-expensive place than you have been thinking of? Rent for a while?
Also, could your future Fiance do a part-time clerkship while in law school? Or– I know in my state, law students can actually do what’s called a clerkship, working in a law office, for four years (I think) instead of going to law school, and then study for and take the bar exam and become a lawyer that way, without law school– presumably getting paid something for being a clerk while they’re at it. (That’s what my dad did.)
To feel better about the future, perhaps you could save a teeny bit of money (even just $10 per week) in a special “wedding fund” or “house fund.” And, although loans are horrible, they might be the only way you can finish your degree– and I think it’s better to have loans, get school over with and start in one’s profession sooner than to have to leave school, start working any old job, and have to push your way back into school and your career later. Although I finished college, I didn’t learn what I needed to (no idea what I wanted to do) so I’m going back now and it’s hard getting back into the academic scene after a few years.
Anyway, I wish you luck, and may you figure something out soon!
Post # 5
I’m not sure about your area, but in PA, there are certain programs where you can work in an urban area for a few years and have some of your loans forgiven. That might help a little. The pay might be lower than you’d expect for a teacher, but if you stay with it, the loans are gone. Might be worth looking into. Aside from that, I feel your pain! I just started grad school…and I was already 27K in student loan debt, and it looks like I just signed up for another 24K…with a 4K tuition remission from my job…which I might add is an education company! WTH? Anyway, I agree with PP that suggested squirreling away a little tiny bit here and there to put towards a house fund or a wedding fund. I also agree, that maybe having a house isn’t that critical? Where are you living now? If it’s got a roof, then I think it’s OK to stay until you guys are ready to buy exactly what you want. Just think, if you buy now…once he’s an attorney and you’re an experienced teacher, the house you’ll be able to afford in 5-7 years could be way better than what you can get now. Just a thought. Best of luck!
Post # 6
Are there any schools that are willing to pay off your loans if you work for them for X #number of years? I’m in grad school now (for nutrition science), and that’s what Fiance and I are doing. We have to sign a contract for 2 years on the job, and they will pay off my 10k in loans.
Q–Do you think it’s a good idea for him to go to law school now? If you both want to get married really bad, why not have a small cheap wedding?
Our budget is 5k, not because we can’t afford any larger, but for the reason being, we don’t want to start our marriage off in debt, but happily in love, and a stress free environment!! And honeymooning seems more appealing to us. But I’m not the kind of girl who dreams about her wedding day lol.