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 PowerTrip
Polypharmaceutical Shaman
Registered: 03/07/05
Posts: 1,148
Loc: The void
Last seen: 7 months, 16 days
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 Couple questions about college tuition and student loans. 
#10584233 - 06/28/09 01:50 AM (3 years, 10 months ago) |
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I'm planning on quitting my job and going to school full-time out of state. I don't know shit about how tuition and student loans work. A couple of questions..
I notice most public schools charge 2-3 times the tuition rate for out of state students. Can I change my residency to the new state after a year and pay the lower tuition after that, or am I locked in at the high rate?
Also I'm wondering since I've been working making close to $40,000/yr when I apply for my first year of student loans are they going to consider that to be my income even though I plan on quitting my job to attend school full-time?
Final question, how much will schools give you for financial aid? Assuming my grades are good will I be able to cover all of my costs with student loans?
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I spit reality, instead of what you usually learn
and I refuse to be concerned with condescending advice
cause I'm the only motherfucker that can change my life
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 DieCommie
El Guapo
Registered: 12/11/03
Posts: 25,374
Loc: Street of Dreams
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Re: Couple questions about college tuition and student loans. [Re: PowerTrip]
#10584334 - 06/28/09 02:12 AM (3 years, 10 months ago) |
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Quote:
Can I change my residency to the new state after a year and pay the lower tuition after that, or am I locked in at the high rate?
Usually.
Quote:
Also I'm wondering since I've been working making close to $40,000/yr when I apply for my first year of student loans are they going to consider that to be my income even though I plan on quitting my job to attend school full-time?
Yes, expect little to no federal support with that kind of income (without dependents).
Quote:
Final question, how much will schools give you for financial aid? Assuming my grades are good will I be able to cover all of my costs with student loans?
Most likley your aid (loans and grants) will be more than your tuition. Enough to cover the cost of school and maybe even a little of the cost of living. First year maybe not since you had high income.
I highly suggest you consider a community college the first year. There is really nothing to be gained by starting the university right away. Take classes you need at the community college and save alot of money while achieving residency, then transfer to the university.
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Redstorm
Prince of Bugs
Registered: 10/08/02
Posts: 44,162
Loc: [life]now[/life]
Last seen: 1 year, 6 months
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Re: Couple questions about college tuition and student loans. [Re: PowerTrip]
#10584425 - 06/28/09 02:30 AM (3 years, 10 months ago) |
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Quote:
Can I change my residency to the new state after a year and pay the lower tuition after that, or am I locked in at the high rate?
Rules are set at a state by state and sometimes a school by school level. Most, however, will not grant residency after a year if the sole reason for moving and residing there was to go to school.
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙
Registered: 05/08/01
Posts: 17,709
Loc: city of angels 
Last seen: 3 days, 31 minutes
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 Re: Couple questions about college tuition and student loans. [Re: Redstorm]
#10585697 - 06/28/09 12:40 PM (3 years, 10 months ago) |
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True, often times they will want you to have lived and worked in the state, with a valid state issued ID, for at least one or two years before they'll hook you up with the tuition discount. Your mileage may vary...
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PowerTrip
Polypharmaceutical Shaman
Registered: 03/07/05
Posts: 1,148
Loc: The void
Last seen: 7 months, 16 days
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Re: Couple questions about college tuition and student loans. [Re: geokills]
#10586351 - 06/28/09 03:18 PM (3 years, 10 months ago) |
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I actually have close to 30 cr. hours completed from a community college already. I'm not too sure on how much of it is going to transfer from a community college to an out of state university though.
I put in a FAFSA application and they were going to give me $9000/yr just to go to community college part time. I'm not sure if my GPA was factored into that. My adjusted gross was around 32K though.
I've been living my life playing it safe for a long time. Doing the rational thing. I'm not satisfied with it though. My family has lived that way and they seem miserable, sitting on their pile of money, being insecure over whether their 401k is going to tank or their retirement is going to get taken away.
I've accepted the necessary evil of college debt. At the same time though, I'm trying to minimize the cost of going away to college.
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I spit reality, instead of what you usually learn
and I refuse to be concerned with condescending advice
cause I'm the only motherfucker that can change my life
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mick
living in perverty
Registered: 07/06/04
Posts: 7,945
Loc: hb, cali
Last seen: 11 hours, 22 minutes
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Re: Couple questions about college tuition and student loans. [Re: PowerTrip]
#10598331 - 06/30/09 05:12 PM (3 years, 10 months ago) |
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oh man. you make twice as much as I do with a college degree. this is bullshit.
if you have a really good gpa you could always try and look at scholarships and grants, and work study so you dont have to pay tazes on your income, unless you can find another 40k job out there, then who cares
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http://kittiesntitties.tumblr.com/
notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... "
ChrisWho said: "It's all about the journey, not the destination."
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GabbaDj
BTH
Registered: 04/08/01
Posts: 19,286
Loc: By The Lake
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Re: Couple questions about college tuition and student loans. [Re: PowerTrip]
#10598471 - 06/30/09 05:35 PM (3 years, 10 months ago) |
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You could apply to be a resident of Mexico. Many universities give in state tuition to illegal aliens.
It was big news a while ago when some California students sued because they were being charged out of state tuition when the current law lets illegals pay in state tuition.
http://articles.latimes.com/2005/dec/15/local/me-tuition15
Id suggest finding out what credits you have that will transfer and take whatever you can for a year at community college while you establish residency.
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Raijin
The Ridge Runner
Registered: 06/23/09
Posts: 152
Loc: PA
Last seen: 3 years, 7 months
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Re: Couple questions about college tuition and student loans. [Re: GabbaDj]
#10608976 - 07/02/09 12:34 PM (3 years, 10 months ago) |
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Avoid loans if you can. Be prepared to eat 20% interest and fees and penalties you never knew existed.
Pay more than the minimum? They'll tack more onto the loan as a penalty.
Pay under the minimum? They'll tack another penalty on.
Pay the minimum? It'll never leave. Ever. It'll just get bigger.
I'm wrestling with the student loan monster myself and it hasn't gotten any smaller at all. There is no consumer protection with student loans. So whatever they feel like adding to the contract, they can. The loan officers will not tell you what your payments will be or what the interest will be. That isn't determined when you sign that contract, it's determined later when you start paying them back.
And honestly, if I was making 40k a year, I'd be tickled pink. I damn sure would not be quitting my awesome job in a time of recession so I can go to school. You aren't guaranteed a job when you get outta school. This isn't the 70s and 80s man! This is the new millennium! Your experience at your job means that whatever new job you go to get, the employer will be inclined to pay you more than say a fresh 23 year old right outta school with no experience. When looking at the bottom dollar, they'll take the one with no experience since it'll save them some in the long run.
Also, you have to compete with all the fresh graduates for getting a job. In this market, I'd rather stick with what's tried and true and work through this downtime than drop a good job. Or I'd take online classes in my spare time to get what I want done instead of quitting my means of living.
Just my $0.02
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Everything I post is an artistic work of fiction. Only a fool would take anything I post as fact.
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PowerTrip
Polypharmaceutical Shaman
Registered: 03/07/05
Posts: 1,148
Loc: The void
Last seen: 7 months, 16 days
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Re: Couple questions about college tuition and student loans. [Re: Raijin]
#10613370 - 07/03/09 03:39 AM (3 years, 10 months ago) |
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Quote:
Raijin said:
Avoid loans if you can. Be prepared to eat 20% interest and fees and penalties you never knew existed.
Do you mean avoid private loans? I'm going to get all the grants, scholarships, and government loans I can before going with private loans. Unfortunately I'm sure I'll have to get some at some point.
Quote:
mickdawg666 said:
oh man. you make twice as much as I do with a college degree. this is bullshit.
Quote:
Raijin said:
And honestly, if I was making 40k a year, I'd be tickled pink. I damn sure would not be quitting my awesome job in a time of recession so I can go to school. You aren't guaranteed a job when you get outta school. This isn't the 70s and 80s man! This is the new millennium! Your experience at your job means that whatever new job you go to get, the employer will be inclined to pay you more than say a fresh 23 year old right outta school with no experience. When looking at the bottom dollar, they'll take the one with no experience since it'll save them some in the long run.
Also, you have to compete with all the fresh graduates for getting a job. In this market, I'd rather stick with what's tried and true and work through this downtime than drop a good job. Or I'd take online classes in my spare time to get what I want done instead of quitting my means of living.
I think I can maybe struggle through another year performing my job. I mean it's cool and everything, I test engines for one of the automakers. However it is a bit repetitive, boring at times, and it just isn't something I'm passionate about anymore.
I want to get into medicine. It's going to be a long road, and will cost me a great deal of time and money, but in the end it will be worth the struggle.
My friends and family have the same mentality about playing it safe and keeping my mediocre job. If I'm really going to do this I have to do it now. I don't have anymore time to waste.
Worst case scenario, I have enough work experience and references to come back to my same line of work down the road.
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I spit reality, instead of what you usually learn
and I refuse to be concerned with condescending advice
cause I'm the only motherfucker that can change my life
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GabbaDj
BTH
Registered: 04/08/01
Posts: 19,286
Loc: By The Lake
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Re: Couple questions about college tuition and student loans. [Re: PowerTrip]
#10615835 - 07/03/09 03:26 PM (3 years, 10 months ago) |
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Quote:
I think I can maybe struggle through another year performing my job. I mean it's cool and everything, I test engines for one of the automakers. However it is a bit repetitive, boring at times, and it just isn't something I'm passionate about anymore.
I want to get into medicine. It's going to be a long road, and will cost me a great deal of time and money, but in the end it will be worth the struggle.
My friends and family have the same mentality about playing it safe and keeping my mediocre job. If I'm really going to do this I have to do it now. I don't have anymore time to waste.
Worst case scenario, I have enough work experience and references to come back to my same line of work down the road.
I wouldn't discount working a regular job to bring in the dough.. I got my degree in Horticulture years ago but I still work as a butcher. After 15 years in the industry I cant find anything else that pays as well, even with a degree. Still, you got to follow your heart.
Now I'm back at school taking criminal justice. After I finish a P.O.S.T. firearms course Ill be able to do high end armed security.
Still wont pay as much as being a butcher but I'm sure it will be much more exciting.
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