I entered school with a near full ride and was still bogged down with student loans due to having to stay on campus the first year (college rule). The next year I ended up falling ill mid semester and having to go on medical leave. I ended up with a $7000 hold on my account keeping my transcripts hostage until I pay it in full.
It has been a year since then. I am frustrated and determined to finish my degree. This year I saved up enough to pay this debt and have it in my savings account ready to pay this week. The problem I’m facing is if it’s a good time.
Being unable to work and young I ended up racking up credit card debt. This is partly due to the fact that my home situation is unstable and so I have to buy my own food and utilities even though I live with my parents. I ended up quitting my job last week as the stress from harassment was becoming too intense. Unfortunately my parents can also no longer support me to pay school. No parent plus, no private, no co-sign. Over the past year I’ve tried and failed repeatedly to secure a loan just to pay that transcript off due to my credit history not being long enough. I’ve been applying for scholarships like crazy but at this point it doesn’t look like I’d be able to attend like I planned. I understand the FAFSA will only consider me independent under my circumstances when I turn 24. I am 22. My desired degree(engineering) doesn’t play well with working full time.
Currently I have $1000 in my checking account. $16,000 in credit card debt. And a $7000 transcript I cannot use until a year from now.
Is it the best idea to pay off a debt with no interest on it for something I can’t use because I can’t pay for school yet? Would that money not be better spent starting to pay those high interest bills, hold me afloat until I get another job (am being interviewed for another full time job) and get another car, etc? Or even move to live with my relative in Sweden, qualify for citizenship and get free tuition there?
Any insight would be greatly appreciated as I’m ready to give up. Thanks in advance:)
Submitted September 26, 2020 at 09:11PM by Funnycakes98 https://ift.tt/2S3lqhe
