So, thanks to the credit card minimum payments BS.. my parents cant afford

[Craig3410]

college for me.

I might be able to go next year, but this year? no chance,


Damn credit cards.

[93ncsu]

1. Don't rely on your parents ...

Go to a state school, take out loans and work 20 or so hours a week. Believe me, it's doable and you will have a great sense of accomplishment upon graduation.

Or, you could work a 9-5 job for a whole year (or bette ryet a 2nd or 3rd shift job for the shift premium), live at home and bank the money and then do the above. You should be able to save enough to pay for at least one entire year and part of a second. Just make sure you go to school after your year off.

[Craig3410]

2. That's what I plan to do for a while...

it should help a lot.

Ironically, this is one of the cheaper schools in the nation...

[cornermouse]

3. The sense of accomplishment is entirely overshadowed by

the feeling of exhaustion. Not to discourage the original poster, but the truth is if you do something like that, you're going to be totally exhausted.

[Skidmore]

10. It is exhausting but not living on loans is even better.

I worked fulltime while completing both my BA and MA degrees, and I was single parenting two children at the time. During my MA program, I also maintained a full course load and completed practicums and internships as well. I don't think I do it differently. At the end of both, I only owed an accummulated $10K in debt. Then I turned around and put my daughter and son through college. Both owed minimum debt afterward. It can be done. Means no social life and some very strategic and intense study time. How badly do you want it is the ultimate question.

[MetaTrope]

11. I'll have paid off my guaranteed student loans in two more months!

And it's only been 23 years since I graduated!

[Skidmore]

13. I got mine paid off two years ago, and my daughter

just paid hers off. I have friends still in graduate school who currently owe $70-80K and they still have dissertations to write and postdoc internships to do.

[newyawker99]

20. Hi 93ncsu!!

Welcome to DU!! :toast:

[SoCalDem]

4. Your parents should investigate bankruptcy before

the new laws kick in.. Once that happens, they are stuck forever.Perhaps once those bills are gone, they could help you a bit too:)..october is when they go into effect..

[Tennessee Gal]

5. Sorry, but.....................

Shouldn't your parents have known not to run up credit card debt with a child about ready to enter college?

[coyote]

6. oh here we go N/T

N/T

[Tennessee Gal]

7. What?

Am I missing something here?

[coyote]

8. yes you are...

maybe if I didn´t have that heart attack last week, I wouldn´t have to run up $30,000 in credit card debt because I have no health insurance.

Maybe if I didn´t have that divorce last year, I wouldn´t have had to run up debt to get back on my feet again.

Maybe if I worked little harder, I wouldn´t be one of the 14,500 thousand people at HP who lost their job last week....I wouldn´t have to pay for the groceries with my credit card.

I get tired of people have no ability to think outside their own little reality that maybe, just maybe, there are extenuating circumstances for being in the tough situation that they are.

It´s a total lack of empathy and understanding. You don´t know the circumstances, and you should not be asking condescending questions like "Shouldn't your parents have known not to run up credit card debt with a child about ready to enter college?"

[Tennessee Gal]

9. Well, excuse me!

I certainly understand there could be extenuating circumstances. I have been there myself.

Perhaps the person posting can explain the extenuating circumstances.

Perhaps the person posting can explain what other avenues have been exhausted in an attempt to get funding for college tuition.

There are resources like grants, scholarships, and college loans.

If unqualified for grants or scholarships, loans and part-time jobs are a good way to at least get started.

[clovis29]

14. Yeah, but more often than not cc debt is from no discipline...

I had a friend who had $70,000 in cc debt just because he was one of theose people who somehow couldn't mentally link purchases with payments.

He re-fi'd his house and cleared it but now has a 30 year mortgage where he could have done in 5.

Financial Planners will tell you that Americans generally don't manage their CC debt well.

I pay mine to zero every month. If I want something big, like a TV or a computer, I save up until I can buy it cash (sometimes as long as 2 years). I keep a separate account for such purchases so I can keep track of how much I have towards my goal. Until then I DO WITHOUT.

If you had not been hit as badly as you were (I am sorry for your misfortunes) I assume you would recommend a similar plan to keep out of cc debt?

[GeekMonkey]

16. I tried that 'doing without' bit, but the kids kept bitching that they

were hungry. They didn't understand that I was 'saving up' for some food and to get the electricity turned back on.

They didn't understand that hot water was a luxury for those that 'saved up' to pay the gas bill.

They didn't understand that a new water pump had to be put in the car in order for me to get back and forth to work, or we wouldn't even have rent paid.

And, apparently, you don't understand either, hence your glib remark.

[SoCalDem]

17. Sorry, but refinancing a house to pay non-secured debt is

STUPID.. Why anyone would turn credit card debt into a 30 year mortgage, is beyond me.Most people run up new debt soon afterwards, and before long they are right back where they started..

People need to start thinking of taking their last chance for a bailout, and then creating a new mindset.. NO CARDS!

If a whole bunch of people
file for BK before the deadline, and then do not charge up the cards they will be offered afterwards, the CC company might actually start losing business..

The only way Credit cards will ever be useful to people is when they have to cater to the customers again..As long as they hold all the power, they will never lower rates or rein in their draconian policies again..

[Jacobin]

24. You are exactly right about that

It is a huge mistake.

[SoCalDem]

25. We finally did a re-fi, but it was for a new roof, new paint,

concrete along the side of the house (for additional parking, a new storage bldg, a new A/C, and a kitchen remodel.. That way, the money we took out of the house, is "still with it" ..just in a different form:)..

To just write out checks to credit card companies with your home euity has me baffled....unless it's a small amount and you have the money left over.. but if it's a small amount, you wouldn't even need to do that, eh?

[Deja Q]

19. We're only human. People make mistakes.

And some are costlier than others...

nice compassionate attitude on your part.

[Thtwudbeme]

12. I don't know which state you live in

but, you can get at least 60 hours in a community college, which transfers straight to the state universities here in NC.

It's not as much fun as living in a dorm, and having that "American Dream College Experience" with all the parties, fraternities, etc...

However, it IS getting some credits out of the way...if you can keep your GPA up...and I mean UP...you can then get a decent scholarship to cover your next two years.

You don't need your folks...you need to know how to do it yourself.

Stephanie

[Maddy McCall]

15. Excellent advice, Stephanie.

I couldn't have said it better myself.

[Phentex]

18. Yep, yep, and yep! And the truth of it is...

there are plenty of people without parents who somehow manage to go to college. And they do it because having parents pay for it or help out was never an option. Sure, it's no cake walk, but it can be done.

[globalvillage]

21. This is very good advice.

I worked my way through, and I don't regret it. But the path we chose for my daughter was two years at community college and transfer to a state university. All of her credits transferred. Same education, same diploma in the end, lots less $$$.
I have given the same advice to some of my daughter's friends who could not afford tuition at a traditional university.

[seabeyond]

22. get a job and go to jr college if there is one in town n/t

[KarenInMA]

23. What sort of EFC do you have?

If it's below a certain amount, you can qualify for some state grants and loans, depending on your state. Also, if you consider a private school, they usually have a better financial aid system in place than a public school.

I work in financial aid for a large private school. if you need some advice shoot me an email, I'd be happy to help you.