Student Loans - What's Your Story?- Page 4

[Plum]

Posted: 5/24/08 at 3:03am

Looking at it from the perspective of the schools for a moment, it's not necessarily a good thing for them if only middle class-to-rich kids can afford to attend them. Our educational system is ostensibly a meritocracy that values diversity in student bodies- and if you want kids with different life experiences and perspectives, income diversity is just as effective, if not more effective, than racial diversity for achieving that, no?

Full disclosure: I didn't get any financial aid from my (private) undergrad institution and I didn't deserve it. It stretched us, but my parents and grandparents contributed and I worked on campus and I got out with a manageable amount of debt. It's going to be law school that wipes me out, but that's a whole other kettle of fish.

[Clarinetbiter135]

Posted: 5/24/08 at 3:06am

"It's going to be law school that wipes me out, but that's a whole other kettle of fish."

yep.... its daunting. there is actually a new program now that offers an attorney who works an approved non-profit position (ex. legal aid, public defender, maybe da?) for 10 years, you get full loan forgiveness. And you're given a modified loan payment plan. So there is hope!

[Broadway_Bound_Star]

Posted: 5/24/08 at 6:32am

I took out an extensive amount of student loans my first year of school. Filling out my FAFSA I got an EFC (expected family contro.) of 0, which means my family can't pay ANYTHING. Needless to say, my finantial aide sucked and I ended up getting around 10k in loans and not even qualifying for Work Study. One of the kids in my program's parents are both lawyers and he qualified for work study. At times it's just not even fair. But I do go to a private catholic school, and they can make whatever decisions that want.

But needless to say, I know how you feel, and I'm also doing the accelerated bachelors degree program so i'm getting out in three years, and that requires me to take 18 credits a semester and 12 credits through the summer, and that's even more expensive. I also plan on going to graduate school after that, so i'll be in so much debt I won't be able to see straight, but i'll be ok! Oh, and i'm a theater major, to top everything off!!

[KrissySim]

Posted: 5/24/08 at 5:42pm

You could draw a comparison to those countries where higher education is free to non-foreigners. To qualify, all you need to do is pass the exams.