Full-Time Student - How To Pay Bills?

Question

I'm a 27 year-old full-time college student in CA. Needless to say, at my age, I don't receive financial assistance from my parents. I have been seeking employment, but have found it to be very difficult to get hired whle attending school. I have qualified for grants, but will not receive them until the Fall 2008 semester. I'm crossing my fingers that I'll be able to get a job on campus next semester, but if not, what should I do? With rent, cell phone, gas prices, health insurance, auto insurance, etc, I'm barely hanging onto what's left of my savings. Should I take out a student loan? What have all you students in my position done?

Thanks for the answers! To give you more detail, I have already applied to 75-100 places, including retail. Many of the places state that I'm overqualified (I was an I.T. manager for 7 years). The one place I haven't applied at yet is restaurants..The job market is terrible here in Southern CA. I'm not whining, just sharing info so that you can better answer the question. Thanks!

Answer 1

I also have had grants awarded to me, but it never seems to be enough. To help my financial situation I did take out a couple loans (subsidized loans are the best because they do not earn interest while you are attending school<-- sorry I wrote unsubsudized earlier, my head is indeed in the clouds today--thanks Superstar for correcting me on this). I also applied for "Work Study" at my school's financial aid office and was able to get a job on campus at the library with these funds (on-campus jobs are perfect since they work around your class schedule, you can even work between classes! Campus departments usually hire "Work Study" students over "Non-Work Study"). You should talk to your school's financial aid office and discuss your options based on your financial situation, they will most likely be very happy to help you figure out the best options for your situation, it is part of their job description afterall.

Also, finding regular employment while in school can be a headache, but sometimes you just have to remember not to be picky. Restaurants and other places with more flexible schedules are a good place to start.

♥ best of luck!

Just remember, everything can be taken one step at a time, so don't sweat it!

Answer 2

To correct "Macie"s statement: "unsubsidized loans are the best because they do not earn interest while you are attending school."

The exact opposit is in fact true. Unsubsidized loans are the types of loans that are not based on financial need and the interest will accrue from the date the loan is disbursed.

SUBSIDIZED loans are the type that, based on financial need, the government will subsidized the interest. This means that the interest will be covered by the federal government until you actually enter repayment. If you can qualify for a federal Stafford subsidized student loan, go that route before ever applying for unsubsidized or even a private education loan.

Answer 3

Okay, a few things that make me go "Hmmmm" about your statements.
The application for federal grants isn't even working yet, so whatever you are planning on getting "until the Fall of 2008" you need to apply for federal fin aid as soon after Jan 1st using your 2007 income tax returns so you might get more grants in the semesters after that.
Also, have you applied for fed fin aid for the current semesters? Fall 07 and Spring 08? If not, YOU NEED TO, using your 2006 income tax return. It is not too late.

Good Luck
Here is a good publication about federal fin aid.

Answer 4

Student loans can ease the stress, but get the best deal possible. Some have deferred interest as long as you're in school, some the gov't pays the interest as long as you're in school, etc. Not all student loans are the same!!

Get yourself a job! Don't be proud, take anything. Scour the want ads. Don't limit yourself to a campus job. UPS is a good part-time job with decent wages for students. There are always retail jobs available. Since you have a car you're NOT limited to on-campus. Don't whine--DO.