Student loans and why you -shouldn't- get one.

Re: Student loans and why you -shouldn't- get one.

Yeah, I attended an Ivy and got hit with disgusting loans from the start of sophomore year. Had no other options either other than paying my own way, and it sucks.

Education is in dire need of reform... it's currently a huge problem for kids to get ahead when costs are so retardedly high.

On the bright side, I get to build credit with the loans. On the dark side, I'd just rather not have the loans to begin with.

Re: Student loans and why you -shouldn't- get one.

^This is why I'm unable to attend college this semester. I'm currently paying off $1,500 I don't have. It was given to me by the government, but after only passing 3 out of 4 classes (one was apparently incompletely due to 4 absences? bs) they are allowed to demand the financial aid back. Of course no one told me this in high school. They were saying things like "Go to college right after you get out of high school! Don't take a year off and work, or you'll never go back! Get student loans, that's what they're for!"

I'm glad I didn't get a student loan. Lito has a huge point here, and being one of the students suffering, you need to plan out college. My situation is minor compared to others. I'm actually deciding to work for another year and a half until I'm ready to securely attend community college again, without the risk of going into a debt I can't pay.

Live at home, get a job, and save your money. Alternatively, wait a year or two before you head to college. Having money in the bank at 20 and entering college is a lot safer. And at that point, would a business like to take a 22 year old with an unpaid student loan and no work experience or a 24 year old with a stable life and work experience? Society is full of holes nowadays.

Re: Student loans and why you -shouldn't- get one.

...

What ivy school?

Re: Student loans and why you -shouldn't- get one.

I went to Penn

Re: Student loans and why you -shouldn't- get one.

Nice, I'm shooting for berkley ~_~

Re: Student loans and why you -shouldn't- get one.

Berkeley's aid sucks if you're out of state -- they pretty much said to me "you get no aid, but feel free to take out the entire thing in loans" -- ****ers

Re: Student loans and why you -shouldn't- get one.

Sigh O_o. I think my parents could pay for most of it as my dad is CIO of a bank.

Re: Student loans and why you -shouldn't- get one.

That's pretty much what you need at this point. If you want to attend a pricey school, better hope your parents are rich. Otherwise, you're going to take it up the tailpipe.

Re: Student loans and why you -shouldn't- get one.

But like it's been said, why the government want to reform something that's raking in millions of dollars annually? Why would ANY corporation, business, firm, or government want to eliminate hundreds of millions from their revenue? It doesn't matter who gets knocked down the totem pole. So long as they get their cut.

Re: Student loans and why you -shouldn't- get one.

Prior to the military, my mother did recommend having a small student loan in order to continue building the credit she established for me when I was 13 (she works at the bank, winning). I've only ever had a 2k student loan, and I just bought a new computer with it, and actually just paid it off this month. I started that loan in 2008. I've put it into deferment status during training and also to keep a "running tab" on my credit. A small loan to get you necessities I will recommend, but anything other than that (say, paying for all of your tuition at a state college/uni) I would avoid.

Re: Student loans and why you -shouldn't- get one.

just toss it onto the pile of 'things wrong with the USA'. we'll fix it when it's profitable (read: when the big banks are for it)

Re: Student loans and why you -shouldn't- get one.

People really need to learn the importance of working and saving, and attending community colleges. I put in 60 hours of work every week during the summer to pay of my tuition, going my first year debt free, second year is still going to be debt free. I also am working 20 hours or more every week during the semester.

You learn everything just the same as any other college, but with a HUGE disscount. It is worth it and if you care where you get your associates from, transfer before you graduate. NDB.

I know people that had their parents pay their way into college and pay for their tuition, almost all of them failed out and are starting up at the community college I go to in the fall semester. Shit happens when life hands you everything on a silver platter.

Re: Student loans and why you -shouldn't- get one.

I'm a curious case.

I actually got a full ride to Wayne State because of my stellar ACT scores, but it didn't take long for me to crack under the load of 14 credit hours in my first semester with no help from the special needs department (I'm Asperger's and as such pretty much required an IEP to get to that point). After a tailspin, I stopped going to classes altogether, then decided to start fresh at a community college with a pay-per-credit-hour format. I had a rocky start there as well, and I'm still trying to pull out of it, but at least I don't have a student loan hanging over my head.

Moral of the story: There are a lot of ways to get an education.

Re: Student loans and why you -shouldn't- get one.

Upper-tier schools typically offer need-based aid (as opposed to merit), and so the beast changes quite a bit. Grants and such may not always cover everything.

I've had a lot of mental anguish because of the college process. I went in as a valedictorian with a perfect ACT/SAT score and multiple Ivy acceptances and got churned and raped as a result of the ridiculous costing systems the colleges/government put into effect. One summer I was cranking 100 hours/week across three jobs. Each year during the academic year (Sep-May), I worked 40 hours each week on top of completing two degrees (with multiple majors) with a demanding courseload. It nearly slaughtered me.

In the end, it's just not worth it -- there are too many obstacles that make it difficult to get ahead. You really have to be lucky to have some financial backing, otherwise you may have to chow down on some humble pie and live well below your means until the system gets reformed a bit. Otherwise it's basically a lot of swimming upstream against a current of sharpened logs.