Where can I get money to pay college debt ?

Question

I am a single parent of three and totally dependant upon fin aid to attend class. I owe money to the college and cannot pay it down quick enough to attend next session. After paying my bils, rent, and food I have nothing left to pay on my towards old debt I am no longer eligible for any payments to the college b/c I have already used my one and only chance that the college allows. I do not have great credit and I am independant so I cannot rely on anyone for a loan. I need 3,000 dollars before Jan1. Where can I get a loan like this for school? I have only two semesters left until I graduate and the longer I am out of school , I know I will not go back. This is a goal of mine and the only opportunity to be self suffient of any gov subsidy . What can I do?

Answer 1

Go to the library and seek out one of those big fat books on how to find scholarships, though I suspect with the short time frame you have, you may be hosed.

You might have to bite the bullet and take a year off to catch up on the bills (get a job!). It's hard doing the single parent juggle, but been there, done that..heck, still doing it!

The financial aid office at the college may also be a big help. ASK! The worst you get is a no.

Also, any family you can tap? Can the kid's dad take them for a year so you can downsize your living arrangement and costs so you can finish?

Anything left of value you can sell? Wedding ring???

If your credit isn't great and you don't own a home I'm not sure you can get a loan, but certainly the school's financial aid office will know the answer.

Quite frankly, it is pure BS to think you won't finish college if you don't get to do it now. Might it take a couple more years, yeah, but if it is important to you, you will find a way.

Too many people aren't willing to use their head and explore all options, they want it handed to themselves. If you really have this goal in mind than YOU have to figure it out. Waiting until nearly the last minute wasn't a great idea.

I've been raising 3 kids on my own for 17 years. Yeah, at times it has been tough, and I've been lucky enough to have family to fall back on when things got really bad.

So...put it all down on paper...can you cut expenses? (place kids with family, take in a roommate, get a cheaper car) can you go part time and work part time?

Write it all down FIRST, don't rule stuff out you haven't really researched. Then work your way down the list.

Where there's a will, there IS a way.

Incidentally, Texas Instruments paid for the last 2 years of my BS in full, in advance. I don't think employer plans are that generous anymore (it was 20 years ago) but ya never know. Some will let you work around your class schedule.

Good luck.

I found this site..might be useful:
http://singlemom.com/CAREER/education_resources.HTM

Answer 2

STAY AWAY from anyone on here that mentions private loans or any emails you get that chase you offering you private loans! Be careful. Do the FAFSA when it is time and the govt will provide you with the proper channels if you need to take out loans. They have lowered interest rates and all parent plus loans are now through the Dept. of Higher Ed. It is your choice if you need to pursue additional loans through a bank, etc. but remember this is his education so he has to be responsible for it. My son just left for college and I work at a college too. We make about half of what all of our friends make (even less than half in some cases). My son is going to a state university (small one so it has a personal touch and small classes) and that saves a lot of money. Check the state university ratings in US News and World Report and look for those that are rated high in your state. Figure out if he wants a smaller school or a larger one. If he goes to a public university outside of your state it will cost almost double. There are FAFSA (fed. financial aid calculators) everywhere online. I did a calculation a year ago when he was in high school and it ended up being pretty accurate when I finally actually did the paperwork. He needs to see his guidance office and start applying for scholarships early. Some of the big ones (Coca Cola, etc.) have early deadlines. We were surprised with a 2K renewable scholarship (private, not through the school or the feds) in the middle of July and found out it is renewable for all four years if he keeps his grades up. Make sure he belongs to clubs, activities, sports or does community service. This is important when applying for scholarships. ALSO...the federal govt and public universities are ALL about first generation students. If you did not go to college and you are a single mom, that is a plus right there (I am not sure whether your ex went to college or no or how you handle your tax situation with your son but...). My son was not first generation because I went but my husband did not however I know that they ask this question on college applications, I think the FAFSA and everyone right now wants to help the first generation college-bound kids.

Answer 3

Being a single parent and full-time student, you should qualify for TANF (welfare) and food stamps and low-income housing. Welfare was only reduced by $20 a month when I received financial assistance. Of course they'd require you to give info so they can go try to get child support from the other parent.

As far a getting an immediate loan, check out the answer on this other yahoo question:

http://answers.yahoo.com/question/?qid=1006051124423

Last but not least, once you get your degree, search for student loan payback programs.. in some cases, if you work for non-profit organizations, part of your student loans can be 'excused'.

Answer 4

First, you need to be wokring w/ the financial aid office here. It seems to me that you need to look for scholarships, not to pay off the debt, but to finish up your classes.

Second, as I recall you can get a "deferrment" on your loan payments if you're enrolled in enough classes. That means that you don't make payments for a while.

Answer 5

PELL Grant- do not have to pay back
Student Loans- start to pay back 6 months after graduation

Answer 6

you can go to the career office at the college and see if they have job openings; You can apply for financial aid; You can apply for pell grant; you can apply for scholarships; you can borrow from friends and write promissory notes saying that you'll return them the money once you finish school and start working.

Answer 7

have you tried to get a federal grant to help pay for the rest of your college???

Answer 8

get a second or third job... many don't know there are 24 hrs. in a day.