Emergency
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Thread: Emergency

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    Default Emergency

    Here's the situation:

    I am a pre-med student in my senior year. My parents' business tanked two years ago and have struggled to gain employment since. I was left to pay for the rest of my tuition, car payment, phone bill and rent along with everything else. My financial aid has been depleted and I have no money left. I just got a part-time job but that will hardly dent the enormous amount of money I am paying every month. I want to apply for scholarships but that won't provide funds for another year or so. A bank loan is an option but I don't have a co-signer and want to avoid the higher interest rates. I have applied for financial assistance from the school to no avail. If possible, I would like to avoid the military but I might not have a choice.

    As you can probably imagine, this is affecting my school work and more importantly my sanity. I am struggling to retain my independence and well-being. Any suggestions?

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    Moderator Ceashels's Avatar
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    Can you sell the car and use public transportation? That would save a car payment and insurance for the year.

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    Do you live close enough to your parents that you can move back in and you all can help each other? If both them and yourself are struggling that bad it might be an option for both sides.
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    Hard luck. Sounds like it is time to go to the admin office to see if you can get your AA/AS certificate. Finish your BA/BS part-time. Since you're so close, it sounds like that won't be too hard. When you get back on your feet you can go back to complete your doctorate.

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    Quote Originally Posted by CookieLee View Post
    Hard luck. Sounds like it is time to go to the admin office to see if you can get your AA/AS certificate. Finish your BA/BS part-time. Since you're so close, it sounds like that won't be too hard. When you get back on your feet you can go back to complete your doctorate.
    What is AA/AS?

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    Quote Originally Posted by NikoSan999 View Post
    Do you live close enough to your parents that you can move back in and you all can help each other? If both them and yourself are struggling that bad it might be an option for both sides.
    Both my parents and I would prefer to stay in school. a valid option though

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    Quote Originally Posted by Ceashels View Post
    Can you sell the car and use public transportation? That would save a car payment and insurance for the year.
    Can't sell the car w/o the title.

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    Quote Originally Posted by duetsch215 View Post
    What is AA/AS?
    oh associate's degree..ill look into that

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    Quote Originally Posted by duetsch215 View Post
    Can't sell the car w/o the title.
    Replacing a Lost Title at the DMV - Lost Vehicle Title at DMV.org: The DMV Made Simple

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    I assume OP meant because of the loan... you can still sell the car though, but I guess it would depend on if you're underwater or not.

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    Quote Originally Posted by duetsch215 View Post
    I would like to avoid the military but I might not have a choice.

    Duetsch, of course you have a choice. And that's coming from someone who went the military route and went from just-out-of-high-school to having a MS and never once a student loan (lots of oatmeal and ramen, though!) But if it's something you're uncomfortable with, then I definitely don't recommend it. It's not a 9-5 situation a lot of the time, and honestly, services are cutting tuition assistance right now in the face of the sequesters. You can't go to school full-time while in the military (well, ROTC, but that's really something different. And ok, I did it once, for one semester, but it was REALLY hard to fit it all in.) So, bottom line, you're looking at dropping to part-time in school while you work full-time (military or otherwise) at least for a while.

    Recommendations? Mourn for what was, but accept that it is gone (at least for now.) For now, your parents aren't able to pay your tuition, rent, and transportation, phone bill, and everything else that apparently they were paying before. If that is they expectation they had given you, then this new reality is a harsh one, but it's real and yours, nonetheless. You can either take the loans, interest rates and all, drop to part time school and full-time work and HOPE that covers the bills (DEFINITELY look into getting roomates, if you don't have them already,) drop out entirely for a year or so while you apply for scholarships, or take up bank robbery.

    Seriously, going to school part-time while working full-time is not the end of the world. Lots of people do it. I'd have to agree with the idea of moving home if at all possible, but if you're too far away, that might not be an option, and with pre-med, I'm guessing you've got a lot of lab classes, so online/telecommuting might not be an option either (but do at least look into it for a semester or two.)

    It is unrealistic to imagine that you can have a place to live, food to eat, a car, and a phone, without a full-time job, incurring debt, or someone contributing to your support-- notice I didn't include tuition in that equation. Add the tuition into that, and it's going to be hard. No point in telling you otherwise.

    I'd agree with the others that the car and phone need to go if it is possible. And without taking loans, I'd have to say your best bet is full-time work (possible more than one) and part-time school if you can fit it in and afford it. Definitely keep applying for the scholarships, but in the meantime, it is what it is.

    And again, don't go the military route if you're ambivalent about it. It can be a wonderful experience at times, and other times very much not... but not something to go into blindly.

    Best of luck to you!

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    I was in a similar situation a few years ago coming out of school for acupuncture, and honestly what got me out & on my feet again was internet marketing.

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    Who are you renting with? Can you cut your costs by sharing a room with someone? I have met people who have had full time jobs and been full time students and had family to support. Can you get another part time job? I'm sure you can do it! Sometimes it is the shock of it all that knocks us over, but we can always get back on our feet. Good luck!

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    How are things going now?

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    In that case ask your parents to consult any fiance solution services which can provide them instant capital for your business to run again and you can also get your scholar ships when your family will be out of financial crises.

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