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Originally Posted by daniellaaarisen
Thanks for your input. I told my dad about your two-thirds comment and he's planning on asking his lawyer.
I have a big scholarship to Seattle University ($30,000 a year out of a $36,000 tuition) but it's difficult to say what's going to happen because my mom is taking half of my dad's salary and refusing to contribute any of it. I know my dad could do it but with debts to pay off and my sister's college education also coming around the corner... it's hard to say. Also, I was hoping to leave Seattle U and go to the UK or another American school next year. Luckily, the UK is only a little more money than I'm paying at Seattle, believe it or not, so it may be possible. Who knows.
Student loans work in weird ways. I already have a small loan pulled out of a private investor but I should probably talk to Seattle U and figure out what they can do for me.
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Well, with that kind of a scholarship, you should be able to make up the difference whether your mom decides to help or not. I know all about student loans - I had a few to get through law school. You should be able to get a student loan for the $6,000 difference with no problem. I know you've mentioned before that you work so you should be able to use that to supplement your living expenses.
You might just have to stay at Seattle. It might not be what you prefer to do, and you might have to work a little more to get by, but you can do it. It certainly doesn't sound to me like you'd have to abandon your scholarship to move back home and go to a community college which will likely cost you close $6,000 a year anyway. Your preference might be to go to the UK or somewhere in NY but you really should take advantage of your scholarship.
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Originally Posted by HejiraNYC
You have an incredible scholarship. Use it wisely. You do not know how wonderful it will be to graduate with only minimal student loan debt. I know people in their thirties with Wharton MBAs who are still over $100K in debt. It's almost like having a mortgage payment. It's going to handicap every financial decision you make until it's paid off. I went to a cheap state school and I thank my lucky stars that I never had to borrow myself into oblivion.
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Yes. I agree. Be thankful for your scholarship and take advantage. It might be fun and exciting to go somewhere else but you'll pay for it later if you have to take out huge student loans. You'll have plenty of time to travel and have fun once you settle into a career. I only had loans for 2 years of lawschool and I'm still paying for it ten years later. Luckily for me, I was able to lock in a low interest rate and the payment is minimal. That and I have a decent job. I know people coming out of law school now with three times the debt I had when I graduated and they can't find a job. Or they're getting offers of starting salaries of $35,000 per year.