How Can Student Fund Education in the US?

[Obama 2012 1,714]

If given the choice between a private student loan, which is absolutely non-dechargable until life as we know it comes to an end (not even by bankruptcy), and can have a rate that can go up into the sky at any time, thus making it a loan for life, and a bullet right into my head, I'd probably chose the latter one.

Private student loans are no longer an option due to the health care bill provisions.

[sly_wolf 199]

Private student loans are no longer an option due to the health care bill provisions.

What does a student loan have to do with healthcare?

[milimelo 4,568]

What does a student loan have to do with healthcare?

It was part of the bill - they took away the third-party student loan administrators and now the Dept of Education will be the one you deal with. Not Sallie Mae.

[Dr. Obvious 49]

How much of his degree does he have left to finish? Is going to a cheaper school an option or dropping to part-time for a bit?

[sly_wolf 199]

How much of his degree does he have left to finish? Is going to a cheaper school an option or dropping to part-time for a bit?

One more at college and then 2 more at another university if he really continues in Engineering.

It was part of the bill - they took away the third-party student loan administrators and now the Dept of Education will be the one you deal with. Not Sallie Mae.

So whats the diff?

[Dr. Obvious 49]

So he is in a community/junior college? Many community colleges have articulation agreements with local 4 year universities and often their are scholarships available for students transferring on from the 2 to 4 year school. How are his grades? If his cumulative GPA is 3.5+, he could be invited to join Phi Theta Kappa. It is an honor's society for students at 2 year institutions. It offers many opportunities for transfer scholarships for its members.

Something else to think about is maybe studying for a few CLEP tests and trying to get out of a few classes that way. The people at this forum might have more ideas for you: http://talk.collegeconfidential.com/

[sly_wolf 199]

So he is in a community/junior college? Many community colleges have articulation agreements with local 4 year universities and often their are scholarships available for students transferring on from the 2 to 4 year school. How are his grades? If his cumulative GPA is 3.5+, he could be invited to join Phi Theta Kappa. It is an honor's society for students at 2 year institutions. It offers many opportunities for transfer scholarships for its members.

Something else to think about is maybe studying for a few CLEP tests and trying to get out of a few classes that way. The people at this forum might have more ideas for you: http://talk.collegeconfidential.com/

Yes, and his grades are quite good. I am not sure on what his GPA is though.

[Darnell 8,479]

what did you learn studying fastweb.com ?

[sly_wolf 199]

what did you learn studying fastweb.com ?

I have not had a chance to look at it in detail but I sent the link to my stepson.

[Kang Lang 7]

another suggestion is to work even part time for a company that offers tuition reimbursement. my company will pay up to 5800 a year. which has beeen really helpful to me although i am only attending a state uni in california that makes a significant difference.

good luck!

[Dan J 277]

Private student loans are no longer an option due to the health care bill provisions.

They still are, the bill changed the handling of federal loans (Ones that you complete the FAFSA to qualify for). Not ones you apply for directly with a bank.

[Empress of Groovy 373]

Are we talking a state school or a private school?

[Nikita2Charles 32]

Is he getting any kind of financial aid at the moment?

I went to school in NYC, there are various financial aids program out there, it's mostly income based the sad fact there are a lot of people who got stuck in the middle, if you make almost nothing, the chances are great you'll get the maximum financial aid awards( They used to have TAP, PELL, CWS=college work study)Discovery and various other programs that even help you out with textbooks expenses.

For some family whose income are out of the bracket, they went for Student loans, now it's changed with the new law, so nobody knows how the new system will work, I would go to your son financial aid office and talk to one of the financial aid counselor. ONe word of caution, DON"T GO AROUND ENROLLMENT TIME, there's going to be long line, and they won't have much time to answer your questions. If you go after things calm down quite a bit then you can sit and talk to someone.

Don't forget to inquire also about scholarships and other private grants that may be out there.

Good luck

Edited April 23, 2010 by Nikita2Charles

[sly_wolf 199]

Are we talking a state school or a private school?

State.

Is he getting any kind of financial aid at the moment?

I went to school in NYC, there are various financial aids program out there, it's mostly income based the sad fact there are a lot of people who got stuck in the middle, if you make almost nothing, the chances are great you'll get the maximum financial aid awards( They used to have TAP, PELL, CWS=college work study)Discovery and various other programs that even help you out with textbooks expenses.

For some family whose income are out of the bracket, they went for Student loans, now it's changed with the new law, so nobody knows how the new system will work, I would go to your son financial aid office and talk to one of the financial aid counselor. ONe word of caution, DON"T GO AROUND ENROLLMENT TIME, there's going to be long line, and they won't have much time to answer your questions. If you go after things calm down quite a bit then you can sit and talk to someone.

Don't forget to inquire also about scholarships and other private grants that may be out there.

Good luck

Yes, he is getting some but not enough for the coming year.

[LIFE'SJOURNEY 970]

State.

Yes, he is getting some but not enough for the coming year

.

This is and will continue to be a common problem as long as the economy is in this downward state. He may have to attend college on a part-time basis and work.