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No College Funds

Posted by on Feb. 15, 2012 at 10:22 AM
  • 45 Replies

Due to the life both hubby and I led up until we married, there was no college fund set aside.  Since we married, things have been rough and doubtful we would be able to pay for college for our children.  I know alot of you have kids headed to college, and our kids want to go too.  How can we make that possible 3 years out with no extra funds?  They are good honors students and one is in a college prep program.

by on Feb. 15, 2012 at 10:22 AM
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by Susie on Feb. 15, 2012 at 10:29 AM
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Have your kids work and save at least during the summers.  Maybe go to community college for 2 years and then transfer to a 4 year school.  Another way is to get a ton of AP classes so they have one year or 1 1/2 years of classes already when they enter college and can finish in 3 years.  My neighbors did that.  They told their dd they would pay for 3 years of college so she had to have at least one years of AP classes.  Apply for scholarship after scholarship and for aide. 

My dh paid for every dime of his college working 80 hours in the summers, paying for his first year with money he made during HS, and scholarship money.  He also tutored and was a grader in college.  His parents had 3 kids in college for 2 years so they couldn't afford to pay for every kid's college anyway. 

My friend sent her child to college her senior year.  She didn't attend HS her senior year.  Some schools don't accept AP classes so this way college was paid for by the state because she was really in HS still but attending a community college.  Actually, her other dd is going to do this next year.  That may not be for everyone.  The HS allows kids to still participate in sports, plays etc also. 

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by Silver Member on Feb. 15, 2012 at 11:37 AM
Your mileage may vary with community college. Our community college system is horrible, and few credits are transferable to a four year school. I would look into this before going that route.

In your situation I would look at filling out financial aide forms as early as possible. There is often more aide available at private colleges than public colleges, so don't limit your self. The balance of the tuition will need to be done through student loans and part time jobs.

An inexpensive way to get a four year degree could be by commuting to a four year college while living rent free at home. This is what my husband did, and he had no student loans to pay off.
by on Feb. 15, 2012 at 11:39 AM
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Apply for scholarships and what doesnt get picked up by scholarships, take out in loans.  Its not ideal, but you basically have forever to pay back student loans as long as your making your payments.  

by on Feb. 15, 2012 at 11:49 AM

I am in the same boat. My dd is a senior and just decided she wanted to go to college. We filled out the FASFA forms to try to get federal aide. Applying for scholarships etc... she will start at our community college and go from there. Now I am going to start the Gerber Life for my son who is only 7, but will not have to worry if he decides to go to college too. Good luck!

by on Feb. 15, 2012 at 11:54 AM

 Scholarships and grants!! My son is getting the same grants I was eligible for when I went to college. I graduated in July. He is starting in community college and 1 grant should pay for a complete year. So if he gets a grant each year, he'll have community college paid. After 2 years there he will head for UCF and I will worry about how to pay for that then. My last resort is student loans. I don't want that for him. I owe $30,000 in student loans so I don't want him to owe anyone, but if we can't make it fly any other way, there is always that. Unless you owe student loans or have like a criminal record and there are a few other reasons, everyone qualifies for student loans. You just have to pay them back because they never go away!!

by Emily on Feb. 15, 2012 at 12:26 PM

Do look closely at Community College.We have two very large ones within live at home distance from us.Both work hard to sync with universities in our state.My older children both took classes in the summer to get them out of the way without any hesitation.The credits transferred easily.The tuition and fees were less than half of their tuition for an equal amount of hours.Do A.P. mine took a semester worth of credit with them.We didn't push them to finish early they just took more classes.Plus it could take your children a year or two longer if they work but in the long run it won't matter.I have several friends and my kids have college friends that took 6 years because they worked but maintained grades.They have all been successful ,my son has several friends that did this ,went to work then got their company to pay all tuition fees etc for grad school while working for them.

Our high school has college seminars covering everything.The financial speaker said it is best to work part time and to only have loans averaging 150% of the average starting salary in the career choice.

Also I know there are grants for BSN  and education majors for their jr and sr years  A .B avg ,recomendations from profs.and  sgree to work in a hospital for 3 years or teach in a Title one school for 3 years are the requirements..Other degrees may have the same .

Good luck

by Grumpy on Feb. 15, 2012 at 1:41 PM

Thanks Ladies!

by Bronze Member on Feb. 15, 2012 at 2:11 PM

My son went to college on student loans and jobs. He enjoyed college too much and had a victory lap year which he regretted when it came time to start repaying!  We've helped him pay some back but he feels they are his responsibility and he is paying back the majority. Anytime he gets extra money like tax returns, or bonus he puts towards loans. I'm very proud of him and sorry we couldn't have done more but it has worked out.  Even Suze Orman says taking care of  your own future is first, before saving for children's college. It's been a few years since we dealt with it but I know the prices are outrageous and the loans and grants may be quite a bit curtailed since he was there. The community college classes are defintely the way to go if possible too!

by on Feb. 15, 2012 at 2:25 PM

Although we had some college funds for our kids, they all got partial scholarships They also had jobs evenings and weekends as well as in the summers from age 16 on. They paid for the rest with student loans. Check into your state's universities as well. In West Virginia, for instance, nearly all kids with a B average or better applying in-state get a "Promise Scholarship" that will pay for a significant portion of their tuition.

by on Feb. 15, 2012 at 2:38 PM

Great advice!

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