Does anyone elses parents make an issue of going to school on loans.

They dont believe me that I am going to get a job when I get out of school .

My father is great but when it comes towards money, he makes me feel bad he

says you will be paying that money back for the rest of you life. I dont care. Am

I too lax about this concept. I mean I only get about 5,000 a yr. for loans. I do

and dont understand why he is making a big deal.

Also, because I am teaching, The government will pay 17,500 of my loan after 3

yrs or is it 5. I will still be in deferment because of going to school for my masters.

What do you think?

Yay for student loans is what I think, mom won't help me pay for school, and she complains that I don't work, even though I take a lot of hours of classes and I try hard to concentrate on just those classes, I seriously would have 0 hours to spend on working, she still declares me as a dependant so I don't get as much loans/grants as if I was declared as independant (but I do get her University of Chicago health plan which is pretty good for medication prices and psychiatrist office visits) I don't care how long it takes me to pay off student loans, I am in college to shape the rest of my life, and I'll make plenty of money when I'm done

Edward, how old are you? You might want to try to live on your own. I think you need to be independent for 6 months. then you can apply for the FASA ( financial aid) as an independent.

I am not working at the moment, but I am going to look into a part time job.

It's not the loan principal, it's the interest. Now is probably a pretty good time to be taking loans. When I got out of law school in 2003, the interest rate was under 2 percent. Free money!

Oh, you were lucky, free money. I wish the interest rate would go down. I think I am at 6 percent that or 4.

Here in Canada, the Gov't charges us PRIME Interest Rate + 3.5%. (Currently 8.5%)

Deadly.

That is insane Emma.
How does one afford to pay the loans back plus the interest.

If it wasnt for student loans I would not be in school. Yea you can go nuts with them but at the same time you can use them to help you get through.

I have about 10k out now (@ 4.0%) and still have three years to go. I know i will be paying for a while but itl be worth it.

Once I get a job I am looking at making close to double what im making now so itl take care of my loans pretty easily.

I know and understand that but my father is on me how there is no job out there. I dont think he believes that I can do it. You wait and see. I know i have 20 thousand, I was at a private school for a sememster and 1/2 . and it was alot. as private school are. my counselor said that most get up to 30 thousand.

Edward, how old are you? You might want to try to live on your own. I think you need to be independent for 6 months. then you can apply for the FASA ( financial aid) as an independent.I am not working at the moment, but I am going to look into a part time job.
auntchris, You can Qualify for FAFSA if you are living at home, on your own or in some situations even married. The "Key" so to speak, is Income & Resources. They have just changed several Laws in regards to Family Contribution & other things. That & other info can be found at the website. http://www.fafsa.ed.gov./index.htm & this is the Link to the New Info http://www.fafsa.ed.gov./hera.htm

My 2 youngest daughters got help through this program & even though you don't live at home the parents income use to count. I guess its the Governments way of being sure that parents that have the money do pay or at least help their kids...but like I said it use to be that way. My youngest is going into her Sr Yr in College in the Fall (she started the first fall after graduating from high school) & has gone straight through & worked fulltime as well. The last App I did was several months ago. She has lived on her own since Jan 2005 but has had to have my income & I have also had to Electronically Sign the Application.
Hope this info is of some help to someone.

BlessedLady

Thanks BlessedLady,

I have been receiving the the Pell grant for along time, it is just college is quite expensive and books run me at least 4 hundred a semiester.

there has got to be some other way I can get income. I have been living on my own since i t think 1986. so I am considered independent. I just have to find income other to help me along with school , my parents still at my age worry about how I am goign to pay my loans.