Let's say I grew up in a dirt poor, lower class family. My parents, for whatever reason, were not able to accumulate any savings. I go through school and graduate, but when I leave I have no money for college. What are my chances of procuring a scholarship and/or loan? Assuming I procure a loan, what are the chances that I will be able to get a job that affords me paying it back in time to accumulate some savings of my own? Assuming I am able to get a job, how long (on average) would it take me to pay back that loan?
2006-12-11 22:50:29 · 10 answers · asked by JudasHero 5 in Social Science ➔ Sociology
seriously you guys, this is hypothetical, so quit wishing me "good luck" already. lol
2006-12-11 23:09:19 · update #1
y loans were based on my parents last years taxes. The less they make the better chances there are to get more grants. Money that you don't have to pay back. Just about anyone can get a student loan. All loans don't start repayment until after you graduate or leave school. If you graduate you should not have a hard time finding work. It may not be in the field you chose but having a degree now is more important than what the degree is in. Loans repayment plans vary and you can choose how to repay. Some are balloon payments that increase every year. shorter payback time. other loans are set limits so it takes longer to pay back on a monthly plan but as you earn more you can pay more. Good luck in school and don't throw away your dreams.
2006-12-11 22:58:35 · answer #1 · answered by sthrnduff 2 · 1⤊ 0⤋
even though your question is hypothetical it describes my situation. i don't get loans though. I'm in my 2nd year and i have 2 scholarships and 1 grant. they cover 3/4 of my tuition and i pay the difference. i have a full time job and school full time. when i get to my third year i will probably have to get a loan but with the right financial management strategies i will be able to graduate get a better job and repay my loans.
2006-12-12 09:45:30 · answer #2 · answered by Anna Banana 3 · 0⤊ 0⤋
Hypothetical my foot! This was my life! As it turned out, I was too doggone busy trying to pay my parents mortgage from the time I was 15 to get into scholarships until I was on my own in my late 20's, by then it was too late. Now? None of the scholarships I have researched will help because I am almost totally normal!
Good luck with your search, I hope it works out better for you!
2006-12-12 07:00:07 · answer #3 · answered by Star 5 · 0⤊ 1⤋
If you reach the age of 18 you are a hero in my book. You had to wiggle your tail when you were a sperm cell. You had to fight passed all the other competitors. You had to break through the outer shell of the ovary. You had to go from breathing fluid to going through the birth canal to breathing air. You had to grow and learn things. You had to avoid being killed by all sorts of dangers in the world. You had to locate technology and ask this question.
Did you come all this way to be afraid you might not get a school loan or are afraid you can't pay it back? I think not. Your a fighter, your a winner; and by the grace of God you will fight and win again!!!
2006-12-12 07:01:02 · answer #4 · answered by Anonymous · 0⤊ 1⤋
loans , grants, scholerships are dependent on your gpa and family financial situations. so by your question you stand a good chance of loan, if grades and your sat's test scores..
as to repay and job depends on your field of study and how high you test in or graduate in your class, if in top 5 to 10 percent, an excellent chance, if below that in class it will take a great deal longer.
2006-12-12 06:57:58 · answer #5 · answered by Anonymous · 1⤊ 0⤋
I have spoiled one precious year of my life due to lack of financial resources.
That time i thought education ends here in the age of 16 yrs.
therefore i chooses to do job to help my parents. 1 year i do a job
to help my parents and they were doing effort to collect money for my admission. i never let them to take any loan and i never force them to manage my admission fee.
after that i was able to collect my admission fee after one long year and i have taken admission my favorite course. But i am doing a job too.and also i am a master in my field of job.
i advice you to not to take the loan until you are able to pay it back.
And my friend i am sharing my personal experience with you.
i have leaned more in that spoiled year than my studying period.
It is really difficult time but if you manage to face it you will be shine like a diamond in the sand.
My good wishes are with you.
2006-12-12 07:13:12 · answer #6 · answered by sunny 2 · 0⤊ 1⤋
Go to a technical school that guarantees a job on graduation. Example: ITT Technical institute. I believe they can help you get a loan also. http://www2.itt-tech.edu/index.cfm?code=TFL-INK-2
2006-12-12 07:00:26 · answer #7 · answered by bill a 5 · 0⤊ 1⤋
Ask a finacial adviser
2006-12-12 06:58:23 · answer #8 · answered by Anonymous · 0⤊ 1⤋
Assuming you believe in yourself, assuming you are willing to work hard you will achieve what you desire.
2006-12-12 06:58:49 · answer #9 · answered by Meeshka 1 · 0⤊ 1⤋
is this for a soc class in school? if yes what class
2006-12-12 08:13:14 · answer #10 · answered by Megs 2 · 0⤊ 1⤋