Hey there! I've never posted on reddit before, but after talking it through with my boyfriend he suggested that this might be more helpful than he is. So here's some back story:
After graduating high school I took a year off to work, and help support my mom. I didn't have a ton of money going into school, but ended up moving out and upstate to be on my own. The dilemma is that I am in that weird grey area where I don't get help from fafsa, but my parents aren't in a position to support tuition either. After a series of unfortunate events spring semester I ended up flunking out and taking another semester off.
So here's where I'm at now:
After all of my bills (rent/card payments/insurance/gas/utilities) I've got like $600 left
I have $4,000 worth of student loans starting to collect interest
I switched over to a community college instead of a university and to take 12 credits it ends up being around $1600 a semester
The golden light is that during spring semester I did a term of service (teaching little kids how to code) and now have a $1,500 grant that can either go towards school, or it can be used to pay off student loans.
These are the options I've been floating around:
- Take another year off of school (am I going to be 30 when I graduate, probably) - put the americorp grant towards the student loans and get them paid off by the end of 2019.
- Make smaller loan payments and try to use the grant to continue going to school while I'm paying it off.
- Make minimum payments on the loans and try to finish school as fast as possible (and take care of the crippling loan interest AFTER I'm hopefully making more than $20,000 a year).
So r/personalfinance is there a better option?
Submitted December 05, 2018 at 11:07PM by yamoms4loop https://ift.tt/2roEs4k
