From what I have seen, the Private schools, in most cases you can get moer aide than a state school etc.
I think, in general, you are right. However, our school is an exception. I went to Franciscan University. I worked in the fundraising dept., which contributes to our financial aid fund, where we call alumni, friends, etc. to raise money and it’s not easy. The school is known for having its largest major be theology as well as many religious vocations come out of it. In fact, I think I am making the most income out of all my friends who graduated with me, with the exception of maybe a couple nurses (I’m an accountant). Most of my friends are either youth ministers or social workers of some sort - in other words, people who have minimal income (with maximum loans in many cases) and who can barely afford to put food in their own mouths, much less give a substantial amount of money back to their beloved school. Because of this, with the exception of the rare but very generous benefactors and well-to-do alumni, we pretty much have squat. So, there goes our financial aid. Plus, we do have a lot of students who have large families ( 6+ children is the norm) and probably need the financial aid even more. Scholarships are academic or very specialized - for example, you need to be from the city of X-City in X-state and have gone to Y-school and are studying biochemistry with a minor in pro-life studies. It’s slightly ridiculous and more frustrating for those of us who weren’t able to get much financial aid, but I understand the circumstances.
I think, in general, you are right. However, our school is an exception. I went to Franciscan University. I worked in the fundraising dept., which contributes to our financial aid fund, where we call alumni, friends, etc. to raise money and it’s not easy. The school is known for having its largest major be theology as well as many religious vocations come out of it. In fact, I think I am making the most income out of all my friends who graduated with me, with the exception of maybe a couple nurses (I’m an accountant). Most of my friends are either youth ministers or social workers of some sort - in other words, people who have minimal income (with maximum loans in many cases) and who can barely afford to put food in their own mouths, much less give a substantial amount of money back to their beloved school. Because of this, with the exception of the rare but very generous benefactors and well-to-do alumni, we pretty much have squat. So, there goes our financial aid. Plus, we do have a lot of students who have large families ( 6+ children is the norm) and probably need the financial aid even more. Scholarships are academic or very specialized - for example, you need to be from the city of X-City in X-state and have gone to Y-school and are studying biochemistry with a minor in pro-life studies. It’s slightly ridiculous and more frustrating for those of us who weren’t able to get much financial aid, but I understand the circumstances.
I’ve had many discussions with fellow students about how our other departments (business, sciences, education even) need to be bigger or at least more known. People flock to this school to study theology - but why not add something else? Why not produce a bunch of great medical doctors or businessmen into the world? It’s a slow process but hopefully we’re heading there. I have nothing against theology majors (I was one for a while - doubling with social work), but you can study theology while studying something else too. We need good Catholics in every part of the world.
Okay, I’m getting off my soapbox now. Just my :twocents:
I think, in general, you are right. However, our school is an exception. I went to Franciscan University. I worked in the fundraising dept., which contributes to our financial aid fund, where we call alumni, friends, etc. to raise money and it’s not easy. The school is known for having its largest major be theology as well as many religious vocations come out of it. In fact, I think I am making the most income out of all my friends who graduated with me, with the exception of maybe a couple nurses (I’m an accountant). Most of my friends are either youth ministers or social workers of some sort - in other words, people who have minimal income (with maximum loans in many cases) and who can barely afford to put food in their own mouths, much less give a substantial amount of money back to their beloved school. Because of this, with the exception of the rare but very generous benefactors and well-to-do alumni, we pretty much have squat. So, there goes our financial aid. Plus, we do have a lot of students who have large families ( 6+ children is the norm) and probably need the financial aid even more. Scholarships are academic or very specialized - for example, you need to be from the city of X-City in X-state and have gone to Y-school and are studying biochemistry with a minor in pro-life studies. It’s slightly ridiculous and more frustrating for those of us who weren’t able to get much financial aid, but I understand the circumstances.
I’ve had many discussions with fellow students about how our other departments (business, sciences, education even) need to be bigger or at least more known. People flock to this school to study theology - but why not add something else? Why not produce a bunch of great medical doctors or businessmen into the world? It’s a slow process but hopefully we’re heading there. I have nothing against theology majors (I was one for a while - doubling with social work), but you can study theology while studying something else too. We need good Catholics in every part of the world.
**I have to say as a Franciscan grad i agree with you. Being a Comm arts major we were considered the redhead stepchildren of the school. I find it amazing that FUS doesn’t give more money to the Comm Arts department and build it up since one would think its an extremely important field and where we truly need Catholics to work in.
Working in the development office was a eyeopening experience for me and to see the way finanical aid is based on many times who you know.
I also agree that many times Freshman sign up for theology majors and don’t think how they are going to be used in the real world to make money. Too bad Fr. Bramwell is no longer in charge of the Theology Department! He always made sure Freshman understood the gravity of what they were doing by majoring in Theology and encouraged double majors.
FUS is also bad about making you sign loan notes at orientation to cover your balances and the company they use for GATE loans will not let you consolidate.**
Okay, I’m getting off my soapbox now. Just my :twocents:
Why didn’t you think about that before going to a school that cost $100K?
Why don’t you move? There are many cities where $120K will buy you a nice townhouse in a nice neighborhood.
Well, moving is not an option for me simply for the fact that the family that I do have that help me out are around here. I don’t have to pay for daycare b/c I work at a daycare, so I’m with my dd all day. When my dd starts school (kindergarten) in three years, then I’ll look for a better paying position in either restaurant management, accounting, or government (I have experience in all three). Or, if I own my own house, I just may start my own daycare.
Maybe it was predatory lenders who gave them their mortgage, but to me, it just doesn’t make any sense.Yes I did. It was very depressing. Even the one thing I received, when I visited the campus to ask for more ideas on how to come up with the remaining debt, the counselor left and came back into the room to say I had actually qualified for NO government aid, loan or gift.
At least I feel happy for him and not green puking jealous because he needs to be a well educated husband! lolIn an area near me you can get a 2 or 3 bedroom house in a safe Catholic school neighborhood for a 120K.
So you do have options, you are just choosing financial security over personal security. I’m not criticizing your choice, merely pointing out that you are not a victem here, you are actively choosing what you believe is the better choice.
I agree…that is why my husband and I attend school part-time, pay as we go, and decided not to let it keep us from handling our lives the way we want. We are 19 and 20, are buying our first home in 2 wks, are expecting a baby in June, and could not be happier. All because we saw the trap our friends and peers were falling into (even our parents-they are horrible with money) and decided to do college differently.
She is a single mom with a daughter, if I’m not mistaken. I think that moving in with a roommate, perhaps another single mom would be very helpful, and I have seen this work out very well.
I agree with you on credit cards. I think it’s important to remember that a credit card is just a tiny piece of plastic. It doesn’t force you against your will to buy more than you can afford, or to only pay off the minimum and pay off an incredible amount in interest fees. I got my first credit card during my sophmore year of college, and I’ve had it for three years. In my three years of having it, I have only carried a balance on it three times. And each time, I payed it off in full the next month. Every other time I have payed it off in full each month.This is what I mean. When my brother was in his mid-twenties, he found himself out of school with a job and no debt, while all his friends were loaded with debt. He decided to buy a house…he thought it would be a good investment, and besides, he was feeling way too old to be living at home. (Since he made himself a useful adult there and didn’t lounge around like a lump, my parents would have never kicked him out.)
He found that at that time his credit rating was bad because he hadn’t been employed for long and because he’d lived at home or shared a rental that was in someone else’s name. He’d never taken out a student loan. Never mind that he had substantial savings: he had essentially no credit history. He bought a small car that he had planned to purchase anyway, but took six months to pay for it. At that time, this was a big help to his ability to get a loan. Incidentally, he found that having a house payment to make was a great reason to refuse friends who tried to hit him up for loans.(His daughters are out of college, and he still lives in that house! Good investment!)
As for American Express, I don’t see the advantage, because I always pay off my credit card every month. If you’re disciplined, it there isn’t a draw-back to a credit card. That means, though, that when you say you’ll only use the line of credit “if you need it” that you know the difference between “want” and “need” and under what circumstances you should even consider that kind of loan.
Better clear something up here before somebody relies on this. The time it takes to evict someone depends totally on where you are. In some places, I understand eviction does take months. But where I am, a landlord can have you and your stuff on the street in 30 days. If you’re not there when they set it out, (if they do it right) it’s deemed “abandoned” and anybody can take it who wants it, including the landlord. Not only that, the landlord can take a judgment against you for the unpaid rent, plus any physical damages and, usually, attorneys’ fees. If you have a year lease, the landlord can get a judgment for the whole year. Around here, it costs a landlord about $200.00 to get you evicted and take a judgment. Lots of landlords do that just to cover their own backside in case you decide you might want to sue them for something. It is correct that most landlords won’t bother reporting you to the credit bureau, but they’ll sure report you to the next landlord or home lender who calls to see how you were as a tenant. (It’s a federal crime to lie to your federally insured lender about where you lived before, in case you want to hide it.) And, if the landlord gets a judgment against you, that automatically appears on your credit report. Not only that, the landlord can “forgive” the debt, then file a 1099 with the IRS, and the government will make you pay taxes on the “forgiven” debt. That’s a lot easier than reporting you to the credit bureau. Again, I think some places are different, but in lots of places, it is a very bad idea to stiff a landlord.
I totally agree with everything you said. Thank you very much for clarifying on a post which I rattled off way too quickly.
I am a single mom with a two year old. Fortunately I live with my mom and step-dad (and work with them) so I am able to save. I am greatful for their help and the opportunity to be as close to a stay at home mom as possible. They both suffer from different diseases and issues (my step-dad’s blind, my mom has braces on both legs/feet) so I know that I am currently where I’m needed. We help each other which is nice. However, I am looking to buy b/c my daughter and I need more space (right now we share a bedroom and there are many problems that come with that). I do realize how blessed I am, I am just frustrated that there isn’t any reasonable housing in this area (Chicagoland) within an hour drive. Yes, I could move to Wisconsin on the boarder, but then I’ll be looking at a 1 1/2 hour commute on a good weather day. The commute isn’t worth the savings KWIM. I guess I’m just letting out a little frustration. I could ask my dad for help with a downpayment (he makes close to the higher end of 6 figures), but his help would have A LOT of strings attached. It just isn’t worth the headache and the terrible examples I’ll have to subject my daughter to.
have you looked into downpayment assistance programs? They’re are quite few out there…
I completely feel your frustration!!! My husband and I live in the Chicagoland area as well and are currently renting a one bedroom apartment. However, with a baby on the way, we’re going to need a bigger place and ideally would like to buy a house. However, it looks like we’ll either have to find a slightly bigger apartment (we’re overcrowded now as is), or my husband will have to find a job that isn’t in/near the city and move out, which we’d eventually like to do. Before that happens though, we’d like him to get his master’s degree (he’s a teacher) which would help his salary as well as get him going onto getting his phD which is his ultimate dream. It is so frustrating to look at the housing market in our area (he’s about an hour commute now!) and see that we can barely afford our own apartment, which is turning into a condo selling for about $150K, and we need something a little bigger.
Anyway, I feel your pain.