Financing School

[nolechick527]

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Why is it some schools ask how you plan to pay for your education? What is the best way to handle this other than being truthful?

Thanks!

 

[cyclegirl]

Just tell them the truth. I do not know what they are getting out of that question because the majority of students pay with 100% loans. They might want to know if you will be going to military route or already have some sort of scholarship lined up. But I do not know.

 

[DragonWell]

Why is it some schools ask how you plan to pay for your education? What is the best way to handle this other than being truthful?

Thanks!

I believe they just want to make sure you are "financially mature" enough for this level of committment and have considered and fully understand the financial realities of school (for most people, by the end you will be >$150,000 in debt). They don't want students to have unrealistic ideas and get "sticker shock" when they get a statement at the end of the first year showing that they owe $50,000!

Just remember, the more you owe, the more you're worth 👍

 

[Doc2007]

How long does it take to pay off your loan after you graduate?

 

[Soccer885]

Just remember, the more you owe, the more you're worth 👍

That's the best advice I think I have ever heard 😀

 

[Oculus Sinistra]

Why is it some schools ask how you plan to pay for your education?

It's probably best to look at the sum total that students owe from that particular school and then break it down into the particular denominations.

For instance, if they owe $172,350.62

You can say you'll pay the $172,300 in hundred dollar bills
then use a 50 or two 20's and a 10
and then 62 cents is, well
you can use two quarters
a dime and two pennies

or maybe 6 dimes and two pennies

you know, whatever. Be creative. 👍

 

[rgerwin]

The time to pay off really depends on what specialty, i.e. how long the training is, salary, etc.

 

[It'sElectric]

The time to pay off really depends on what specialty, i.e. how long the training is, salary, etc.

And even more so, it depends upon the individual person's spending and budgeting habits.