Sunday, April 15, 2012

Just some thoughts.

It's Sunday. It's 5:30. And I still have a chapter to outline for AP Art History and corrections to make on my AP English project.

BUT, I did do my laundry (for the first time in a week) and finished my 11th piece for my art concentration. So I was productive...

And now my dad want's me do design a cover for his e-book, so I'll be doing that now, and the rest of my homework later.

I've been trying to keep myself busy lately, because I've been thinking a lot about college.

I'm really scared of the amount of debt that I'm about to take on.

Seriously guys. I'm going to be real, and I'm just going to flat out tell you how scary everything is.

My college doesn't do little fees here and there, it's a straight up $40,000 comprehensive fee per year. That includes tuition, standard room and board, a meal plan, plus free amenities (laundry, shuttle service, arcade, movies, technology). My family and I FULLY believe that it is worth how much it costs.

I managed to scrape up $10,500 in scholarships so far, and luckily they are renewable each year. I'm waiting to hear back on financial aid, and other scholarships that I've applied for, so I'm trying to remain a little optimistic.

I have to get $29,500 worth of student loans taken out each year. Meaning, that at the end of my 4 years in college I'll be $118,000 in debt.

Now, I'm frugal and pretty rational when it comes to money, but $118,000? Damn that scares me. Also, keep in mind that my parents are unable to assist me with college. They can't even co-sign on my loans. This will be MY debt.

My general philosophy about investing in my education is the fact that debt can always be repaid. No matter what, I have to be rational and UNDERSTAND that at the end of the day that's what this is: an investment. You have to spend money to make money.

My college has an excellent track record when it comes to post graduation jobs and internships, so I'm confident that they will have the proper connections to help me get the job of my dreams. It's just, $118,000 of debt is scary.

And the only reason that I find it so scary is the fact that every day, when I log onto Facebook and check my college's incoming freshman page I see at least 2 posts every day with people apologizing and wishing the rest of us luck because they won't be attending High Point because of the cost.

I'm not second guessing my decision. I know that I'm not the only person going to my college who is going to have to take out an insane amount of loans. I'm just scared.

I just want to know that I'm not being a massive idiot for spending so much money.

I'm going to think some more. I'm going to come up with a game plan.


  1. Hey, there. Don't freak out. I was in a similar position. Not the exact position ($30k/year of loans is significantly more than I take out), but I'm paying for my college education myself, as well, and I know how it goes. My parents couldn't co-sign, either, and I've got a twin sister at the same university, so I get it. College is expensive.

    The only helpful thought is that you will eventually get a job, because of college, that helps to pay for those loans. A job that makes the loans worth it.

    Luckily, I'll be making (after I'm established), about $100k/year, which makes things worth it. And I'll be graduating early (turning a five year degree into two), so that will help, but really.

    You can do this. Don't freak out. It's just a dollar sign.

    I've been working full-time since I was sixteen. Even next semester, on top of 28 hours of college, I will be working full time. Money hasn't ever really been thrown my way, either. We just gotta go with it.

    You can do this. Get stoked about college, okay? It's part of the journey.

  2. Everything Shelby says is true. My school is ridiculously expensive, and I actually have to attend for 5 years in order to get the degree I came for.
    I'm frightened as well, but you can't let money stand between you and the rest of your future as of now. Think about it, but not too much.
    Be EXCITED for college. You'll have a blast.

  3. I'm finishing up my first year in college and although I don't have as MUCH debt to my name, but I'll tell you a secret: when the first notice from the Direct Loans people came in the mail with MY name attached to a debt of $5000, I freaking cried. I did. In front of my mother who proceeded to laugh at me. And I laughed, too, through the tears and she said, "It's scary, isn't it?" I just nodded because I was kind of hysterical, but the thing is, if I'd had known then what I do now, I would've still gone into that hysteric fit. It's still scary. It's still hilarious. But I wouldn't trade it for the world. I'm not going to say there's a direct correlation to it being "worth it," but I will say that things, when they're really right, will work out in the end. And things have been working out so I trudge on with no regrets.

    Don't worry, Love. Just get out there and make your life work for you.

    Warm wishes,

  4. Shelby has some fantastic advice, as she is the resident superwoman, so I don't think I can possibly add any more advice than she. Over a hundred thousand dollars of debt is ridiculous, and added to that the possibility of grad school? Yeah. That's a heck of a lot. My friend is currently trying to decide whether or not she's going to take out $25,000+ of loans to go to the college she really really wants, or whether she'll take the full ride at a place she really dislikes. It's a tough decision, but I say go to the place that will give you the best education and the best college experience for you. Good luck.

  5. Everyone else's advice is good. Listen to them.

    And now for my extremely long comment:

    To be frank, I hate going to Tech and I really hate Lubbock. There are a lot of people who love it, but I am not one of them. It is not my fit, you know?

    My mom's side of the family lives here and we always came to visit, and ever since I was little I said I would go to Tech. So when the time came to actually apply for college, I just went to Tech because it was the easiest/cheapest thing to do. I didn't even apply anywhere else because I knew I would get in because, I mean, it's Tech. I wasn't even excited when I got in. I didn't even have that nervous anticipation of waiting for the acceptance letter, you know?

    I never even gave any thought as to what I wanted out of my college either. Actually, it wasn't until Natalie started talking about and looking for colleges that I realized what I had done. I am so disappointed that didn't put more thought into it and didn't try harder to find my "dream school," but instead took the easy, safe way.

    What I am getting at is this: You're going to have to take out loans and be in debt no matter where you go because getting an education is outrageously overpriced, so you might as well go to your dream school.

    You've found it, you've gotten accepted, and now you get to go and have the whole awesome college experience that everyone is always talking about.

    Just remember, it is going to be worth it. Not just for the job that you will get with your education, but for the satisfaction of knowing that you made it to your dream school.

  6. That seems like an awful lot of money, and I'll suppress my whole "Education should be free!" rant and say that if you think it's worth it, if you know you can do it, and what you're doing is likely to get you a good job, then go for it.