Are you paying for your college education?

Demon Hunter

macrumors 68020
Original poster
Mar 30, 2004
2,245
38
I work part-time to pay for living expenses and books, but that's usually all I can cover. My parents would like to help but they can't afford it, so I take out loans. This time next year, I'll be $24k in debt, with over two years to go.

I have to say, I'm extremely jealous of those who don't work at all! My friend was complaining to me about his college fund the other day. I said, "college fund?! I had one of those, and it went from $20k to $2k after 9/11."

I am fine with it, although taking out loans certainly is stressful. I'm definitely thinking about job security and career prospects more than I ever did before. I also don't know what kind of repayment I'm looking at, or how it will impact my lifestyle after graduation.

Any grads with insight, or undergrads with similar stories? How do you finance it?
 

clayj

macrumors 604
Jan 14, 2005
7,473
180
visiting from downstream
In my case, I had an Air Force ROTC scholarship that paid for 3.5 years of my college education... tuition, room and board, and an allowance for books. The rest I paid myself, using stock I'd been given by my grandmother when I was born. My parents paid not a single penny toward my college education (although they did cover some other unrelated expenses, like my car).
 

GoCubsGo

macrumors Nehalem
Feb 19, 2005
35,743
141
I will be 50k in debt in 2 more years. Right now it's about 22k.
 

TheMonarch

macrumors 65816
May 6, 2005
1,469
1
Bay Area
When I graduate, I'll be 22K in the hole (after all 4 years). Not too bad, considering I pay NOTHING right now. Plus I live at home, saving me a crapload of money... You guys know how much is costs to "live" in SF? That place is waaayyy overrated. Its cold. Expensive. Dirty. And full of bums... Glad I don't live there... [Edit- Not to offend anyone who does live there. It can be a nice place if you can afford to live there comfortably]


That is of course, if all my financial aid is the same all 4yrs...
 

jmufellow

macrumors regular
Jun 17, 2005
215
0
Parents not paying a penny, although I know they would want to if they could. It does make me feel sick when spoiled brats complain that their parents aren't sending them enough money. They should try working a job and going to school...not the easiest combination, but still doable.
 

Demon Hunter

macrumors 68020
Original poster
Mar 30, 2004
2,245
38
blaskillet4 said:
Parents not paying a penny, although I know they would want to if they could. It does make me feel sick when spoiled brats complain that their parents aren't sending them enough money. They should try working a job and going to school...not the easiest combination, but still doable.
Definitely... although when I tried to work ~20hrs a week last year I failed miserably.

blaskillet4 said:
When I graduate, I'll be 22K in the hole (after all 4 years). Not too bad, considering I pay NOTHING right now. Plus I live at home, saving me a crapload of money... You guys know how much is costs to "live" in SF? That place is waaayyy overrated. Its cold. Expensive. Dirty. And full of bums... Glad I don't live there... [Edit- Not to offend anyone who does live there. It can be a nice place if you can afford to live there comfortably]


That is of course, if all my financial aid is the same all 4yrs...
Ah I live at home too. :) Minneapolis a great city though, low crime, lots of coffee shops. Very liberal though. :p
 

~Shard~

macrumors P6
Jun 4, 2003
18,388
42
1123.6536.5321
When I went to University, my parents helped pay for my first semester - after that, I was on my own. I entered the University's Cooperative Work Experience program, and throughout my Engineering eduction I went on 4-month work terms with various companies around the country. It gave me great real-world experience for my resume, so I didn't have "just my degree" when I graduated, and most importantly, it gave me the income which allowed me to become self-sustained, so I could pay for the rest of my education without needing my parents' help or to take out a student loan. I consider myself very lucky that I left University with zero debt. :cool:
 

Abstract

macrumors Penryn
Dec 27, 2002
24,378
110
Location Location Location
What Uni? Was it Waterloo or something? They have such a great Co-op program in so many programs at their Uni. Quite weird.

Anyway, I'm lucky that my parents paid for almost all of my tuition and living costs. They did plan ahead quite well, so it's not like they got hit by shock when I was about to go to Uni. I think they had enough to pay for 3 years of Uni with no trouble, and then ran out of that university fund they had set up, and then paid for most of my 4th year out of their pocket.

They paid for half of my Masters degree, and now with my $25000 per year scholarship, I'm paying most of what I spend, but still not all of it. ;)

I work as a lab demonstrator as well, but the money I earn from that will go towards my future Nikon D70s. :D
 

zimv20

macrumors 601
Jul 18, 2002
4,388
7
toronto
i put myself through. i started working when i was 11 and saved everything i could. once in school, i worked full-time and got loans for the first couple years.

i emerged exhausted, in debt, but with a degree.
 

SamIchi

macrumors 68030
Aug 1, 2004
2,707
133
I went to a community college, and didn't have to pay a dime. I got financial aid, and money left over. :D I'm goin back this spring.
 

Josh396

macrumors 65816
Oct 16, 2004
1,128
0
Peoria/Chicago, IL
Steven1621 said:
my parents pay for my college, but i take care of my necessities such as clothes, technology habbits, etc.
Same with me. My parents offered to get me a car but I told them I was fine without one for now. I feel extremely lucky that I don't have to worry about paying for school and a ton of respect for anyone that does pay for any part of their schooling.
 

diddy

macrumors 6502
May 13, 2003
258
0
Las Vegas, NV
Im fortunate enough to have my parents pay, but I get 23k out of 30k from the school every year. Well, I guess a little more than 4k of that is in loans, so I will owe 17k-ish when I graduate. I have to work in the IT office for necessities, but I'm still very lucky.

This reminds me... anyone want to hire a kid with degrees in math and philosophy this spring? :D ;)
 

Kobushi

macrumors 6502a
Jun 7, 2005
540
0
Right behind you.
Hmm....I went to college for 6 years and only had to pay for one with loans. Scholarships covered the rest (tuition and fees, anyway). Nothwithstanding, I still had to work full time to make ends meet (prolly why it took so long to get out of school).

Now I'm in a Grad program where they pay me to go to school :)
In fact, they gave me this handy office for me to surf MR, too ;)
 

pdpfilms

macrumors 68020
Jun 29, 2004
2,385
0
Vermontana
Just to keep this from getting to skewed, keep in mind that most students whose parents pay all their college funds won't be posting for fear of ridicule, as this is obviously not a thread to praise them.
 

Chundles

macrumors G4
Jul 4, 2005
11,981
364
Yup. I paid for all of mine, I say "Paid" cause I'm pretty sure I just had my last exam about an hour ago. Have had a few quiet ales but have to clean my pigsty to make way for the family tomorrow.

WOOHOO!!!
 

Chundles

macrumors G4
Jul 4, 2005
11,981
364
mad jew said:
Congratulations Chundles! :D

I'm paying for mine later. At the moment I have a debt to the government of about AU$15,000 so far. :(
Oh yeah, well, I don't count my debt. It's about that much too, shouldn't be but I've taken 5 years to do my 3 year degree.

Paid for everything else though, books, accom, food, fun, booze, wimmins - mmmm....wimmins, I miss me wimmins...

Tahnks Jew. Yoiu're a champ.
 

barneygumble

macrumors 6502a
Apr 18, 2005
726
0
Enjoy it, I had my last unit exam on a wednesday and started work full time the following monday, never got a chance to relax:eek:
 

barneygumble

macrumors 6502a
Apr 18, 2005
726
0
mad jew said:
Ah, so that's why you're fat. :p


:D

Kidding, you know we love you dearly barneygumble.
Why dont you go and tell everybody then;)

I do have lots of mucles and can lift big wights at the gym but there is a rather hefty gut in front of me:eek:
 

barneygumble

macrumors 6502a
Apr 18, 2005
726
0
mcarnes said:
I owe $190K in student loans. Thanks for reminding me. :p
:eek: :eek: :eek: :eek: and just for good measure:eek: :eek: :eek:

How in god's name did it gety that high, My Chemical engineering degree cost
about $21K in australian dollars and thats staying one yr too long.
 

Whyren

macrumors 6502a
Paying for it on my own. Not too bad though...only about $1,000/semester after fed loans/scholarships/etc., not too bad for a private liberal arts college. I get most of that from two work-study jobs and stipends for other work I do on campus, so I don't have to leave campus for work. I'll probably have in the $30 thou for debt over five years of college. Oy.