is it really possible to live off student loans?
I want to attend college full time and switch to part time employment. Is this really feasable for a single mother of 2? I am persuing a bachelors degree.
- dawncsLv 71 decade agoFavorite Answer
Yes, it is possible to live off of student loans while in college. However, it could create a problem when it comes to student loan repayment time with two kids. Unless you will be entering a very lucritive career such as medicine, it could create some financial hardships. I do recommend joining Upromise because it can help in the long run with your student loans (tiny bit), but it can also help you save for your kids' college education. I will list some free resources for locating money for college.
First, the college's financial aid office and website has a list of private scholarships offered from outside organizations and companies. Sometimes a college major's website will list scholarships, too.
Second, the public library has a book listing scholarships with some not even listed on the web.
The FAFSA form will help you qualify for need based financial aid from the government along with the college itself. It can come in the form of a Pell Grant, student loan, and college scholarships. This is filled out every January 1 for the upcoming fall semester until you graduate from college.
Finally, I recommend joining several free membership scholarship search websites. There are scholarships for a variety of things including ethnicity, clubs, hobbies, and even wearing duct tape to the high school prom. Most are updated on a regular basis. Most offer a customized search based on information entered onto a form on the website.
Good luck!Source(s): http://www.fafsa.ed.gov/ http://www.upromise.com/ FINANCIAL AID ADVICE http://www.fafsa.ed.gov/before003a.htm state deadlines http://www.collegeboard.com/student/pay/scholarshi... http://www.finaid.org/ http://www.collegeboard.com/ http://www.collegeconfidential.com/ http://www.collegeview.com/ SCHOLARSHIP ESSAY ADVICE http://www.scholarshiphelp.org/ http://www.collegeadmissionsessays.com/ http://www.freschinfo.com/ http://www.scholarshipguide.info/ FREE MEMBERSHIP SCHOLARSHIP SEARCH WEBSITES http://www.scholarshipexperts.com/ recommended by Forbes magazine. http://www.myfreedegree.com/ http://www.findtuition.com/ http://www.brokescholar.com/ http://www.gocollege.com/ http://www.fastweb.com/ http://www.careersandcolleges.com/ http://www.schoolsoup.com/ http://www.studentawards.com/ http://www.clubaward.com/
- chapesLv 41 decade ago
my niece did it for 4 years. she has 1 kid. she had a nice 2 bedroom apt, plus she bought a nice used car with her s l checks. she received the type of loans that didn't have to be paid back. her child care was also paid for.
- 1 decade ago
Um.. it really depends on how much financial aid you get. They'll only give you a certain amount for living expenses - for my school, that means about eight thousand dollars max, which is definitely not enough to live off of for a year.
- 1 decade ago
Why would you want to live off a student loan ? how will you pay for your classes? Yes I purchased some need items but I still paid my classes and now i will have to pay back money borrowed not used for classes.
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- BettyBoopGirlLv 51 decade ago
yes, and if your school grades are kept up you can receive scholarships that you don't have to pay back...