Chamahk

7+ Year Member
Nov 2, 2009
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Pre-Medical
This post is about 3 things:

Student loan(s):
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Well like most of my peers, I fooled around in h.s. I don't have nearly perfect SATs, GPA, or ec's that I shouldn't even get close to 'til I get in college. I guess I"m average at best. I'm not a valedic and what not. I'm going to an aveage state school and I'll give $5 to the person who has even heard of it. Because of fooling around, I didn't get any scholarship(s). Just a few grants and loans. My questions are the following:

(1) After I tell my school I want the loan(s), if I was to apply and win scholarships during the summer time, can I tell them to cancel the loan and use the scholarships???

Debt:
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Without a doubt my chances of taking out some more loans for med school are very very very high. So I was wondering. Would it be wise not to take up work study but get several jobs on campus and save up the money??? Then at the end of the 4 years of college I'll have money to pay off some of the debt since I wont be getting a job after college but going on to med school??? The loans come with interest.

Getting your acceptance rescinded:
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Lastly, I've contracted senioritis badly. For the first time since enterng h.s., I've failed classes. Not just one but two. What are the odds that the school I want to go to will rescind my acceptance???
 

Bacchus

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Luckily, you're going to a state school. That means, compared to private institutions, you're going to save a lot of money. Just because you take a loan out, does not mean that you cannot pay on it before school is over. Most loan companies let you pay the loan off early. If you apply for a loan, are accepted, and then turn up scholarships your financial aid office can reduce your loan amount or cancel it all together.
 
Dec 13, 2009
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Dallas, TX
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Pre-Medical
^^^^I agree with the guy above me. Unless you're rich, there isn't enough of a benefit in order to choose it over a public school.

Now on to more important matters. I'm interested in that $5. Where'd you say that state school was? ;)
 

Biscuit799

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I would strongly advise against taking out any debt at all for an undergraduate education. It is a million times better to get scholarships and to work to pay for school. Student loan debt has a way of hanging around your entire life. I know of several people (myself included) who paid the whole thing with scholarships. There is a lot of good software which finds scholarships and helps you apply for them. In my medical school class, I knew others who had undergrad debt in addition to med school debt totaling over 300,000 dollars. That is a VERY difficult obligation to pay back, even at the very high end of salaries in medicine.

You can always cancel/refuse your loans, even after being accepted for them.

I agree, what's the school? I could use 5 bucks...
 

Chamahk

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Nov 2, 2009
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I'm not sure if work-study can cover ALL the amount I'll be paying with the student loans. So I wanted to work and save up all the four years then I can have some money to pay back all the loan(s) after college. Right now I need to pass some test and classes so I graduate h.s. and don't get my acceptance rescinded and I just don't have the time for essays. During the summer however, I'll have loads of free time on my hands to apply for as many as I can. I was adviced other wise concerning this plan. The person told me, working while going to school isn't clever because college is pretty hard and I really need to find time to buckle down and study. Working just to pay off loans might make me tired and can ultimately hurt my grade.
 

Emerica

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Jan 2, 2009
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I'm valedictorian and I'll still be going into the hole $10K/year for undergrad :/, grades aren't everything, "financial need" is.
 

Silverman780

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Feb 6, 2009
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I was my class valedictorian as well and right now I'm at a CC, and I am technically being paid to attend. :D

Why?:

I received about $12,000 in outside non-refundable scholarships. The music department gave me a half tuition waiver for band and then I get another half waiver for being a science tutor. So Tuition is free and the scholarship money is still being sent to me every term in a check for $4,000. From that I take what I need for supplies and books and put the rest in a savings account for later.

CC's are always a viable option for starting your undergrad.
 

Biscuit799

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I was my class valedictorian as well and right now I'm at a CC, and I am technically being paid to attend. :D

Why?:

I received about $12,000 in outside non-refundable scholarships. The music department gave me a half tuition waiver for band and then I get another half waiver for being a science tutor. So Tuition is free and the scholarship money is still being sent to me every term in a check for $4,000. From that I take what I need for supplies and books and put the rest in a savings account for later.

CC's are always a viable option for starting your undergrad.
This is a common situation not only at CC's, but at state 4 year schools. I attended a state university and was paid to attend. It's actually not hard to do if you have good grades, and apply for a ton of scholarships.

I'm fairly certain that people who work during school end up with better grades than those that don't. Generally they're more focused, organized, and have a better appreciation for their education. They also have less time to party.