Worried about school, money...LIFE!?

Question

Here is my situation. I'm working full time (at my university) and going to school full time. I make all right money, but all of my money goes to rent, bills, food, et cetera. I'm trying my best to budget, but I'm scared that down the line I'll be eaten up by school debt. I've thought of some pretty crazy methods of getting help with this. To give you an idea of just *how* crazy, one of them involved writing a letter to Oprah.

My GPA is around a 3.0 most of the time, but sometimes drops lower (especially because last semester I couldn't take a class, but had to keep it on my schedule because of my Pell Grant, so I got an FA). I don't qualify for a lot of scholarships because of this. I had a high score on the ACT, but I didn't qualify for a scholarship because I had a 3.2 GPA when a 3.5 was necessary. I get a Pell Grant, but it isn't very large because of the amount my parents make. It doesn't matter that I live on my own and they aren't helping me with anything.

Answer 1

Contrats to you for working full time and school full time.  This is not an easy task and you should be commended for doing it.  I would also like to say I'm happy to hear you understand the risks and consequences of student loan debt.

You never mentioned your classification in college.  (Fresh, soph, Jr, senior)  I think what I suggest would depend a great deal on that and how much you are willing to sacrifice to get your degree.  I'm assuming you are under 24 and have very little serious debt, if this is the case I would recommend you taking out loans to increase you course load and decrease your work load so you can focus on your school, but I wouldn't quit completely.  You prob can do "Work Study" ... maybe even in the office you are now working!!  Work study is money you earn that DOESN'T count against you when you apply for fin aid -  usually about 20 hours a week.  Doing this might increase your Pell grant (as opposed to working a full time job and having that money count against you).  

A few things suggestions.

First, you'd have to make sure you can afford the school and to live off what you earn... plus have the loans pay for school. If that means moving back in with your parents or grandparents, sell the car to get rid of payments, loose the cell phone, buy a bicycle.  College is about sacrifice.  Figure out what applies to you and what isn't a necessity.  

I would also recommend you investigate your degree choice and if the debt is worth whatever amount you are having to borrow.  Hint: Don't borrow more total than what you would expect to earn your first year after graduation. Borrowing 100K to be a kindergarden teacher (or a similar situation) is a mistake lots of uninformed students do.  

Also, enroll in as many classes as they will allow you so you can graduate quick.  12 hours a semester isn't going to cut it!!  15 to18 - to up to like 21 hours a semester if you can pass them.

Check with your school.  Most have tuition reimbursement programs and scholarship programs specifically for full time employees should you choose to stay.  You may be eligible and not even know it!

Good luck.

Answer 2

stop for 1sem. by that you'll be out of stress and dint forget to pray.be strong.its just an obstacles and you can overcome it all :)

Answer 3

Like the rest of us, get student loans.....study harder,