4 answers
Abigail
Student
Portland, Oregon
1
Question
Updated
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How do students find the stability to not be stressed about how to pay for college?
I am trying to find that stability. #dental-hygienist #financial-planning #college
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4 answers
Kristy-Lyn McCoy
Project Management & Risk Consultant
7
Answers
Columbia, South Carolina
Updated
Kristy-Lyn’s Answer
Hi Abigail,
Such a great question. Finding ways to pay for college is stressful but the best way to tackle it is head on: with a game plan. If you think you know what you want to do for a career, I encourage you to look into scholarship programs, work-study programs, grants, and paid internship opportunities first. Scholarships and grants, when used for education, are essentially "free money" and can significantly cut down on costs for school. I see that you listed dental hygienist as a possible career option. You can start by checking here: http://www.adha.org/scholarships-and-grants
Then, if you know you need loans, consider the different kinds: there are federal loans and private loans that you may qualify for. Federal loans are generally need based, and they come in two varieties: subsidized and unsubsidized. Subsidized loans don't accrue interest while you're in school and if you qualify for these, they are a better option compared to unsubsidized and private loans. Unsubsidized loans are also federal loans, but the interest accrues from the moment you get the money, meaning that the amount you need to pay back will continue to grow while you're in school. Private loans, on the other hand, are owned by banks and tend to have much higher interest rates than federal loans. I would recommend filling out your FAFSA, and seeing what you qualify for and go from there.
And once you graduate, there are different repayment options based on your income and what you can afford. For more information on these, I recommend reading the article here: https://studentaid.ed.gov/sa/repay-loans/understand/plans.
Lastly, try to save as much as you can between now and then!
Such a great question. Finding ways to pay for college is stressful but the best way to tackle it is head on: with a game plan. If you think you know what you want to do for a career, I encourage you to look into scholarship programs, work-study programs, grants, and paid internship opportunities first. Scholarships and grants, when used for education, are essentially "free money" and can significantly cut down on costs for school. I see that you listed dental hygienist as a possible career option. You can start by checking here: http://www.adha.org/scholarships-and-grants
Then, if you know you need loans, consider the different kinds: there are federal loans and private loans that you may qualify for. Federal loans are generally need based, and they come in two varieties: subsidized and unsubsidized. Subsidized loans don't accrue interest while you're in school and if you qualify for these, they are a better option compared to unsubsidized and private loans. Unsubsidized loans are also federal loans, but the interest accrues from the moment you get the money, meaning that the amount you need to pay back will continue to grow while you're in school. Private loans, on the other hand, are owned by banks and tend to have much higher interest rates than federal loans. I would recommend filling out your FAFSA, and seeing what you qualify for and go from there.
And once you graduate, there are different repayment options based on your income and what you can afford. For more information on these, I recommend reading the article here: https://studentaid.ed.gov/sa/repay-loans/understand/plans.
Lastly, try to save as much as you can between now and then!
Nicole Baillie
Data Analyst
483
Answers
Atlanta, Georgia
Updated
Nicole’s Answer
Hi Abigail J. I see that you posted this question a little while ago so I hope my answer to you (or others who may read this response) is still helpful.
Adding a bit to the awesome answer already provided, stressing about how to pay for college, for those of us who had to rely mostly on grants and loans, can be something that is with you for all of your college years. I share this not to add any levels of depression but to help students understand that while that concern is real and sometimes feels like it is un-ending, you can experience stress relievers in this regard. One way is to focus on the goal...which is to graduate. When that becomes a primary focus, then a secondary focus could be to get the best grades you can while in high school AND while in college. Another focus could be to figure out how to make some money while attending college, in a way that does not interfere with your top two goals...graduating with the best grades possible. In some cases students may consider working a few hours either on or off campus.
These suggestions are intended to give the student a sense of control as I believe that sometimes what causes stress is a feeling that one cannot control what is happening around them. Giving yourself an opportunity to be and do your best and exposing yourself to opportunities that aren't only about sitting in a classroom, or doing an assignment or studying for/taking a test can bring added stability and hopefully smooth out those instances where stress over paying for college can sometimes creep in.
Best of luck to you!
Adding a bit to the awesome answer already provided, stressing about how to pay for college, for those of us who had to rely mostly on grants and loans, can be something that is with you for all of your college years. I share this not to add any levels of depression but to help students understand that while that concern is real and sometimes feels like it is un-ending, you can experience stress relievers in this regard. One way is to focus on the goal...which is to graduate. When that becomes a primary focus, then a secondary focus could be to get the best grades you can while in high school AND while in college. Another focus could be to figure out how to make some money while attending college, in a way that does not interfere with your top two goals...graduating with the best grades possible. In some cases students may consider working a few hours either on or off campus.
These suggestions are intended to give the student a sense of control as I believe that sometimes what causes stress is a feeling that one cannot control what is happening around them. Giving yourself an opportunity to be and do your best and exposing yourself to opportunities that aren't only about sitting in a classroom, or doing an assignment or studying for/taking a test can bring added stability and hopefully smooth out those instances where stress over paying for college can sometimes creep in.
Best of luck to you!
Elaine Flores
Team Associate
1
Answer
San Juan, Puerto Rico
Updated
Elaine’s Answer
Great question! I can speak of experience and my two cents here is to focus on your career and life goals while being responsible.
I had to take loans to study, and my children did too. My experience with my personal loans is that I paid it all off - in the past, I never thought of the cost and how long it took me, just be responsible about it by paying it monthly. I worked part-time while doing my MBA, found a better paying-job, continued specializing sponsored by my company, have a beautiful family of five, and a very satisfying life with savings. It wasn't without stressing about money but there are options - I started paying interest-only and other income-based arrangements, etc. I learned that your credit is very important, so no matter what, always communicate with your lender and/or look for competitive offers.
Looking backward, I might be more aware of the cost but would not let it distract me from my goals to be happy and productive.
I had to take loans to study, and my children did too. My experience with my personal loans is that I paid it all off - in the past, I never thought of the cost and how long it took me, just be responsible about it by paying it monthly. I worked part-time while doing my MBA, found a better paying-job, continued specializing sponsored by my company, have a beautiful family of five, and a very satisfying life with savings. It wasn't without stressing about money but there are options - I started paying interest-only and other income-based arrangements, etc. I learned that your credit is very important, so no matter what, always communicate with your lender and/or look for competitive offers.
Looking backward, I might be more aware of the cost but would not let it distract me from my goals to be happy and productive.
Jasmin Maldonado Medina
Administrator
4
Answers
San Juan, Puerto Rico
Updated
Jasmin’s Answer
The best way to navegate stress is to prep. Doing your own homework, searching information and asking for assistance in the different educational institutions. Not being afraid to ask questions and realizing everyone is looking for ways to finance their education and future.