I have no money and go to a $50,000+ school

July 29, 2011 7:47 PM

I go to an elite college. My parents won't pay my living expensives. My work study pays almost nothing. Help!

I go to an elite, ridiculously expensive college. My parents won't pay my living expenses. My work study pays almost nothing. I cannot balance a rigorous course load and a part-time job in addition to my work study. Can I get a student loan (with a co-signer) for living expenses?

My credit is too low (I have no credit at all) for a personal loan. The only option I have now is to take off school for a year to work, and I'm really sad about losing my friends for an entire year.

Any advice or links to loan companies? I understand that private loans are risky, but I'm really in a tough situation right now. School starts in a few weeks, and I have no idea what to do.

Thank you for your help, my lovely MeFis!

posted by camcol to work & money (32 answers total)

FYI: My school Financial Aid Office has basically said, "Tough luck."
posted by camcol at 7:48 PM on July 29, 2011

Most private and federal loans can be used for living expenses. How it works is they send the money directly to your school and then they refund you the money after your tuition etc. has been covered.
posted by MadamM at 7:51 PM on July 29, 2011 [1 favorite]

I was in the same boat a few years ago. I left that school, and went to a state school. Sometimes the right answer is that, in this world, you just can't pay for everything. It was probably the worst feeling I ever had. Looking back, I'm glad that I don't owe more in student loans than I do.

My advice is, unless you have a "X dollars paid for school = Y dollars earned in a career" worked out, don't take out loans for a really expensive school.
posted by rebent at 7:53 PM on July 29, 2011 [23 favorites]

Have you considered going to a less expensive university?
You are better off NOT going into debt.
posted by Flood at 7:53 PM on July 29, 2011 [5 favorites]

The private and federal loans will depend on your parents' income, up until you are 24. Can you just take the 12 credit (semester hours) minimum for full-time and then find a job?

And as others have pointed out, you could go to a less-expensive school.
posted by bolognius maximus at 7:55 PM on July 29, 2011

Quit work study and work as a server in a local restaurant?
posted by bearette at 7:58 PM on July 29, 2011

If you're at Harvard or Yale or Princeton or Stanford, try to find a way to stay there; the cachet of those schools and the connections you make there should eventually make it worth it.

Otherwise, transferring somewhere you can go without accumulating huge debt might be a great option.
posted by fingersandtoes at 7:59 PM on July 29, 2011 [2 favorites]

The only option I have now is to take off school for a year to work, and I'm really sad about losing my friends for an entire year.

Honestly, this seems like a better option than taking on additional debt. You're in Boston, right? It's not like you're living in some small village where the college/university you attend is the only game in town; you can still see your friends when you have some free time.
posted by Johnny Assay at 8:05 PM on July 29, 2011

Your work study pays almost nothing. Okay, so get a higher paying work study if possible. Is keeping this work study job a condition of your financial aid? Because it seems like the wise choice would be to quit the work study and get a part time job that pays "more than almost nothing".

That said, I do not believe that you don't have time for a second job. I went to an expensive, elite college and it was not possible to take enough hours of class in one semester to not have time for two part time jobs. As fingersandtoes said, if you are really at an elite college, it is important that you stay there, which means that any kind of extra curricular activity, fun, relaxation, drinking, etc should take a backseat to a part time job until you figure out a better financial situation.

Final comment: it would help our advice for you if you explained what "living expenses" are not being covered. Are we talking room and board or incidentals?
posted by telegraph at 8:08 PM on July 29, 2011 [2 favorites]

If you're at Harvard or Yale or Princeton or Stanford, try to find a way to stay there; the cachet of those schools and the connections you make there should eventually make it worth it.

From the OPs earlier questions we can infer that he/she is in Boston. In which case MIT and Tufts are both worth it, too.

But, in any event none of this really helps the OP.

To the OP: It sounds like you've been dealt a bad hand in life, with an unstable and unsupportive family. Does your college have any student resources, like therapists? I know that you're worried about being able to pay for college and your life right now, but perhaps a therapist can help you see the bigger picture here: you're young and taking a year off from school to better yourself financially is not the end of the world that you may think it is. There likely are other issues to be resolved as well.
posted by dfriedman at 8:11 PM on July 29, 2011 [1 favorite]

Can you clarify a bit? Are your parents paying for your tuition? Are you in a dorm? Is that covered? It's not clear how much money you need for living expenses. How many hours a week is your work study? Is it useful for you in any way other than a bad paycheque? You almost certainly can get another job and study and perhaps even do the work study, if you're willing to be very efficient with your time. But a lot of this depends on location and the amount you are short.
posted by jeather at 8:17 PM on July 29, 2011

Just curious, what exactly are your living expenses? Dollar, and subject wise?
posted by timsteil at 8:27 PM on July 29, 2011

Trust me - you can work and do school. You make the time - and what often gets sacrificed is the social opportunities.

Would you rather drop one class and pick up 20 hours a week to live or drop out of school for a year and try and save enough to go back? The latter option is just asking for trouble honestly. A lot of the "I'll just take a year off, but I swear I'll go back!" crowd never does go back, or never is able to save the money.

Figure out a way to transfer somewhere cheaper, or find time in your current schedule. Even if you have to work for minimum wage. Find a friend who will let you couch surf for a bit while you figure things out.

Good luck. I worked 40 hours a week with 21 credits for most of my undergrad degree. And I have signficantly less debt than most of my friends. And I have some amazing work experience that I wouldn't have had otherwise.
posted by guster4lovers at 8:33 PM on July 29, 2011 [4 favorites]

This happened to my college boyfriend -- he managed to get loans and scholarships to cover all of his tuition after a family friend's tuition gift fell through -- but family wouldn't help with living expenses. He didn't have credit and tried to get private loans, but it wasn't happening.

He ended up working for the school and finishing part time -- it took him one extra year. It was brutal, but he's doing great now. I had another friend who took time off from her private liberal arts school, saved money and went back. I wouldn't trade an experience at a school you really like just to save money. I think if it's just a year or so, it won't be too much of a difference in the long run. ]
posted by sweetkid at 8:45 PM on July 29, 2011

I don't have answers, but do have questions: What are your parents paying for? What would they want from you in exchange for more money? If you did take a year "off" to work, can you work on-campus (close to friends) doing work that advances your career? Are your jobs right now related to your career (research)?
posted by sninctown at 9:02 PM on July 29, 2011 [1 favorite]

How many roommates do you have and in what part of town? What's your food budget like--are you already living on lentils and ramen? How often do you drink? I'm sorry if this sounds obvious, but these are the quickest routes to lowering your living expenses.

I was just looking at graduate research positions at another Cambridge school and WOW they pay nothing. Like, my first job out of college paid more. Almost 10 years ago. So I agree with bearette. Look for something off campus to begin with.

Have you talked to your school's Financial Aid Office for help? What about the Office of Student Affairs? The Dean's Office? Your situation is a unique one, and you should tell your story to as many people in power as possible until someone listens.

In the meantime, be prepared to suck it up and have to work if you are dead-set on this school. Many of us did, and we still graduated (summa, even). I'm starting grad school at a school in Cambridge this fall (oh hai, Boston buddy!), and will definitely be working--you guessed it--to cover my living expenses! I know it's hard to find gigs, but really, people have managed school and work concurrently for generations. We're not all landed gentry, and that's okay. In fact, your work experience may give you more practical skills than your classes. And you are capable of achieving more than you know right now. Yes. Because none of us knows how bad-ass we have to be until we're put into the situation.

If working + school just seems completely, absolutely, utterly impossible (and no good), consider transferring to a cheaper state school. Unless it's a big-Big-BIG name school, most don't care where you went to undergrad. And you might actually like it--I did! It will also make your post-school options much more open if you aren't coming into the world with a ton of debt, because (and I really, REALLY hate to tell you this) unless you are boy-girl genius of the year, it's really hard to find that first job out of school. Good luck, camcol!

MeMail me if you want to talk. I'll be over there in about a month.
posted by smirkette at 9:14 PM on July 29, 2011 [1 favorite]

Why did Financial Aid say "tough luck" exactly? If you did a FAFSA, it should tell you what government loans you would be eligible for. Have you maxed those out for the year?

Also, is it cheaper to live off campus or on? Take into consideration food, utilities, parking, driving, etc. That may change what FinAid says...depends on the school and the costs and what aid you are getting. What about applying to be an RA to pay living expenses? And if work study isn't paying enough look for a better paying job then dump the work study.
posted by MultiFaceted at 9:53 PM on July 29, 2011 [2 favorites]

My first inclination is, if at all possible, ditch the work study. There are a ton of student jobs on campus with high turnover rates, so they're hiring all the time. Pay isn't great, but the supervisors are much more understanding of the typical college excuses for time off ("Tests are coming up", "Spring break is here", "I have a large project due", etc). Places to try: food service, computer lab monitor, campus rec (swipe cards, pick up equipment towles, head counts, etc), and lifeguard if you have the ability.

Story: my parents were willing to pay tuition and room/board in the dorms, but I had to cover my books and social expenses. During sophomore year when I wanted to live in an apartment the deal was they'd pay X towards rent but that was all (think: $300 out of $350 + utilities + food). I made do with a computer lab monitor job working 20hrs a week. And this is at a top 5 engineering program where the homework load was brutal. Actually, most of the time spent on lab monitoring is just sitting there so I was able to get some of my homework done while working!
posted by sbutler at 9:57 PM on July 29, 2011

Go back to your Financial Aid Office armed with more information. Can you plan out your expenses and specify exactly what you need to survive? Explain that you are receiving no support from your family. Make sure that all of your Financial Aid documentation reflects that. You may qualify as an independent student and this could change your aid situation.

Also, be persistent. You are at a school with resources, make sure you understand everything that's available to you. If you're speaking with an administrator who is rushed, distracted or otherwise not being helpful, ask if you can schedule a meeting to discuss your situation in-depth. Be the squeaky wheel. Be polite, but make it clear that you are dedicated to your education and assessing your options.

Some concrete suggestions: Find out which work-study jobs offer the highest wages. Ask if there are alumni or other scholarships that are available for students in your situation. Are there student organizations that would be able to help out? Are you involved in clubs or religious organizations that could offer small scholarships or support? Are their resources in your hometown? Your old high school?

I know this is a frustrating situation. But if this matters to you, you'll be happy that you did everything possible to make it work.
posted by annaramma at 10:03 PM on July 29, 2011 [2 favorites]

someone was suggesting working as a restaurant server, to make cash, but I preferred kitchen work, in my own student days. "prep cook". slice this pile of mushrooms, wash these tomatoes.....it was very soothing and relaxing, plus they paid me for it

working in restaurants, you also usually get a "shift meal" which means you will not starve, even if you have no currency
posted by thelonius at 10:04 PM on July 29, 2011

I go to an elite, ridiculously expensive college. My parents won't pay my living expenses.

What is their rationale for not contributing to your living expenses? (And what does that mean -- housing? food? cellphone?)
posted by desuetude at 10:14 PM on July 29, 2011

Cut back on hours and work. It may take you five years instead of four, but the reduction in debt makes it well worth it. It can be done. Work 30-35 hours and focus on school.
posted by stoneweaver at 10:35 PM on July 29, 2011

Have fewer living expenses. Live like a monk. Cancel your cellphone plan. Wear Wal-Mart clothes. Make excellent friends and couch-surf. Find a sugar daddy / momma. Live in your car. Eat only ramen.
posted by LucretiusJones at 10:59 PM on July 29, 2011

Thank you for all of your advice. For all of you who have questions about my current situation, please see my previous thread.

Thanks again.
posted by camcol at 12:39 AM on July 30, 2011

Obviously it's too late to apply for the upcoming year, but have you considered applying at the next hiring cycle for a Residence Life job? Those usually come with either free or extremely discounted room and board, or a generous stipend. Don't discount your ability to manage an extra job. I had 4 of them while maintaining a full course load, and still graduated with a 3.75 GPA. I also graduated with virtually no debt.
posted by litnerd at 4:11 AM on July 30, 2011 [1 favorite]

Places like Costco will pay you a whole lot more than a work/study job will (at my previous U I was on the financial aid committee and we found that the neediest students refused their work/study because they could make a lot more elsewhere.)
posted by k8t at 8:04 AM on July 30, 2011

We really need you to clarify the questions asked here in order to be able to help you. How is your tuition being paid and by whom? What is your financial aid situation, and how many work study hours are you doing per week at what rate? How much money do you need to generate each month to cover what expenses - food, transportation, books, rent or whatever is not covered?
posted by DarlingBri at 10:01 AM on July 30, 2011

I'll ditto what DarlingBri says- if you're willing to share numbers, you can get more tailored advice.
posted by ThePinkSuperhero at 1:52 PM on July 30, 2011

I hesitate to suggest this because it's a little wacky but a relative on my husband's side lived in Boston and was in a similar situation. He participated in research and medical studies to get money. There are a ton going on in the area between all of the universities and you can decide for yourself if they're too crazy or potentially harmful to participate in but the impression I received is that a lot of them are surveys.

Also, elite university in Boston makes me wonder - do you have access to a school of social work or school of law? Do they run a clinic? Might be an option. If you can't get help from financial aid, try them.

I agree that canning work study might be worth it. Think about jobs in terms of what benefits you can get. If you work at the bookstore, can you get a better deal on books? If you work at a restaurant or grocery store, can you get cheaper food? Whole Foods is generally considered a good employer. Starbucks offers health insurance to part time employees. Where can you work your way up to a higher position or salary quickly? What about a job that gives you time to do your homework?

This sucks but don't be shy - be scrappy and proactive and use what you have available to improve your situation. Do you have a car? Can you give people rides to the airport or train station for $20? Or be the designated driver? Babysit? House-sit? Walk dogs?

Finally, don't be too proud to take time off or take out a loan. If you do the math and cannot figure out a way to make it work, take out the best damn loan you can. Get a loan for this semester and come up with a better plan for next semester or next year. I'm not someone who has a lot of money but still, at the end of the day, it's just money. People will lend it to you. It's not worth killing yourself over (metaphorically or literally).

And work on your support group. It sounds like you're in a crappy situation and I'm sorry. Do the best you can and find some people who will help you figure it out. Good luck. This sucks but every challenge in life makes the next one that much easier to overcome. At least that's what I tell myself when crap hits the fan :)

And (sorry, I know I said "Finally" a few paragraphs ago), don't listen to those of us who say "I worked 200 hours a week at 6 part time jobs, carried 90 credits a semester and graduated summa cum laude in about 20 minutes." Everybody's different. I took on 21-24 credits a semester while working 3 jobs but I went to state school and was a communication major and my grades were only okay. You know what you're going through. Do what you need to do.
posted by kat518 at 3:50 PM on July 30, 2011

If you go to an elite undergrad university, one way you can cash that in is for test prep/tutoring gigs, which will pay you way more than a work-study job. Prep time is significant at first but gets much less so as you get good at it. You can find people with Craigslist ads or Wyzant, though Wyzant takes a cut of your profits.

Have you reached out to alumni networks, student groups, etc.? There may be current students or alums out there who've gone through something similar and can give you advice specific to your undergrad institution/situation.

Finally, I agree it would be helpful to know what exactly is the amount of the shortfall you're trying to make up. I know from your last question that your parents have cut you off (and I'm really sorry about that, that sucks), but are they still paying for (any of) tuition, if not room and board? If you need to come up with $50K that's a very different beast from $5K.

Best of luck.
posted by en forme de poire at 4:23 PM on July 30, 2011

I saw this the other day and have been thinking of you, camcol.

You and your brother are in a tough situation but you CAN get through it. Absolutely. Even if you end up taking some time off school you can still keep in touch with your friends. If you take jobs outside of school, that work experience will be great and very useful for getting good jobs later. Don't despair, it will be okay in the long run. Just keep your head above water and keep paddling. You're doing a good thing by taking steps toward control of your situation: good job!

So, the question about what to do depends on details that you haven't given (I'm not sure what you are counting as part of "living expenses").

1. Tuition. If you go to school this fall, will your tuition be covered (by your parents or by financial aid)?

2. Room+board. Will your on-campus room and board be covered (by your parents or by financial aid)?

3. Other expenses. Beyond tuition+room+board, how much money do you need per month (for books, clothes, laundry, transportation, etc)?

4. If your work study job pays something above what you need for tuition+room+board, how much extra does it pay?

5. Do you need to take the work study job in order to get your tuition or room+board covered? This will influence whether it makes sense to quit the work study job to take a job outside the college.

6. How much would it realistically cost to get housing and food living off-campus? Suppose you got an off-campus job paying $8/hr, how many hours a week would you have to work to pay for housing+food? (If your room+board is covered by a work-study arrangement, it might be cheaper to take that deal even if off-campus housing is cheaper -- because the work-study job might be fewer hours to cover your housing+food. It's worth doing the math here to figure it out, this calculation can go either way.)
posted by LobsterMitten at 1:03 PM on July 31, 2011

From what you've said in the question it sounds to me like your tuition and room+board WILL be covered, and you can live on campus, but your "other" expenses (books, clothes, transport, etc) won't. And that your work study job pays a bit more than you need for room+board, but the amount it pays is not enough to cover your "other" expenses.

If that's right, first try to cut costs (for example, can you get your books from the library? can professors loan you copies?). Figure out what's the minimum amount you can reasonably spend on "other" expenses per month to get by. Then subtract what your work study will pay in a month. That's your target amount - I am imagining this would be something like $200 a month? Think about flexibly scheduled jobs that could help make up the difference: tutoring, teaching SAT prep classes, childcare for your profs?, medical studies etc.

Can you get a work study job that allows you to use the time mostly to study? Eg late night shifts at the library? That way the time isn't "wasted".

I also second the idea of trying to find someone at the college (your advisor, a campus counselor, someone in the office of the dean of student affairs) who can sit down with you and help you work through your options. If you don't have an advisor, email the student life/student affairs office and ask to make an appointment with someone. The great thing about being at an elite school is that they REALLY want you to graduate, and they should have people who can talk to you about how to make that happen.
posted by LobsterMitten at 1:20 PM on July 31, 2011