College (loans etc)

So I was enrolled in the Art Institute of Phoenix for Interactive Media Design and it was probably for about 2 weeks because things didn't work out and now I'm having to pay back what I owe them for those 2 weeks. After paying them back and taking care of some things, I was planning on going back. But is it even worth it? The reason it didn't work out in the first place is because I wasn't approved for any loans and even if I get my credit cleaned up and find a co-signer that isn't denied, I'll be left with a massive, massive debt. I've heard of people not even bothering to pay back their loans... how damaging can that be? I'm 21 and I'll probably be 22-23 by the time I can go back which I hate because that feels so late to start school. I know that sounds stupid because that's incredibly young but it's just weird to think about when I've got friends that started college right out of high school and are just about finishing up. Is the degree worth it, is the debt worth it, is not paying it back an insane burden? I guess I'm just scared that I'm going to end up regretting it... whether or not I go.

My brother went to school and became an Engineer. He took out lots of big loans to pay for it. He didn't pay them off until he was almost 40, but he paid them off. Loans for school are a fact of life for most with the exception of the independently wealthy.

yeah! baggss said it...

loans for education suck but are in evitable and really imho worth it. college is a totally unique and awesome experience.

If you can, try to get as many scholarships and grants that you can, they will help allot. I had to back out of going to college for a little bit until I find another place that's going to be cheaper but offer me the same course work.

I'm actually in the same position as you. I just turned 22 sep 1st, and I was going to go to the Art Institute of Indianapolis. But the classes were costing too much for me, and I haven't even started. I was going to try to start again in October, but the way it looks. I'm not going to be able to pull it. 450 a credit hour is steep for me, I can't afford all of the loans, and I would be in my 50's - 60's before I paid the loans off. All of the good paying jobs are taken around here.

I hate because that feels so late to start school. I know that sounds stupid because that's incredibly young but it's just weird to think about when I've got friends that started college right out of high school and are just about finishing up. Is the degree worth it, is the debt worth it, is not paying it back an insane burden? I guess I'm just scared that I'm going to end up regretting it... whether or not I go.

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I feel the same way. I have a couple friends that have already finished college. I don't get to talk to them much now because they are trying to do their thing, moving away to other cities it's a big bummer. I'm left out here all on my own and no body to talk to but my girlfriend, and she controls the crap out of me, if I mention goingt o a show with a friend from school she'll get P-Oed.. I haven't hung out or seen any of my friends in the 2 years and 4 months we've been together.. lot's of drama, but that's for another topic.

I'll tell you what I was thinking about doing, I don't know if the same would apply or help you, but it's a thought. I was considering going to Ivy tech for the general courses and what not, it's only 80 a credit hour here. So, once you get the general studies down, you can transfer to AI and have your credits transfered, then you'd just have to do your art classes. It'd save a couple grand + if you get some scholar ships they will help too.

It was an Idea I was considering myself, so maybe that would be something to think about.

I really feel for you though, I'm in the same boat with the same school.

Good luck

Cheap State schools FTW, seriously...

Are you really having trouble finding loans? or just finding loans with a decent rate?

Tek said:

I'll probably be 22-23 by the time I can go back which I hate because that feels so late to start school.

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I went to the Art Institute at Bradley Academy for the Visual Arts and I didn't start until I was 30.
It is worth it. Like baggss said, loans are a fact of life. Just be sure to pay them back. It will take a long time to do it, but it is worth it.

It's strange you're having trouble getting loans. Usually they throw money at you when you're going to college because it's a good bet you'll be able to get at least a decent job to pay them off eventually. I have bad credit, but didn't even sweat being accepted for loans when I decided to come back to school.

It will suck paying them back though. I plan to live like a bum for a few years and pay them off straight away. And don't listen to those who claim they don't have to pay them back. They follow you forever like any other bad debt. People used to file bankruptcy to get away from them, but there have been laws passed which prevent that or exclude student loans from the debt that is expunged.

Don't sweat being a little older and going to school. It does feel a little awkward because most students are younger right out of high school, but you have to remember that post-secondary education is not a required regulated part of the educational system and is meant for adults of all ages. If anything you have an advantage over those kids because they really don't know what the world is like or what it really means to work. The average person changes careers 2-3 times in their life. That means they didn't know what they really wanted right out of high school and probably need additional education later on in life to make that change. I'm going through that kind of change right now at 27 sitting in some classes with 19 and 20 year old students. But it's not big deal.

I'm in the same boat. I went to school for advanced computer systems technology about 2 years ago and dropped it because I hated it and it wasn't what I really wanted to do.

For 4 months of schooling, it cost me $5500 CDN in government student loans.. My monthly payments are $90/month.

I'm trying to go back to school for Photojournalism, but I simply can't, because this loan is kicking me in the balls.

punkr0x0r said:

I'm trying to go back to school for Photojournalism, but I simply can't, because this loan is kicking me in the balls.

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I don't know about Canada, but here in the states. If you enroll in school, you can defer a school loan until you graduate.

Tek said:

I've heard of people not even bothering to pay back their loans... how damaging can that be?

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That my friend you would regret.

Tek said:

I'm 21 and I'll probably be 22-23 by the time I can go back which I hate because that feels so late to start school. I know that sounds stupid because that's incredibly young but it's just weird to think about when I've got friends that started college right out of high school and are just about finishing up.

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This should not stop you.

Tek said:

Is the degree worth it, is the debt worth it, is not paying it back an insane burden? I guess I'm just scared that I'm going to end up regretting it... whether or not I go.

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You will not regret going to school. You most likely will regret not going.

FWIW.... At the age of 18, I began my medical career in the U.S Army. After eight years of active duty (age of 26), I then spent another 12 years attending school to become a Vascular Surgeon. It was a long journey, but well worth it. Life is excellent. I cannot imagine where I would be stuck had I not pursued my educational ambitions.

I wish you and anyone else contemplating these decisions all the best!

I thoroughly read all of and really appreciate the responses and as insensitive as this may sound (unintentional) it's kind of nice to know other people are in the same predicament. Misery loves company I guess? It's just nice knowing that there are other people with as many questions, concerns, and uncertainties as me when I spend every day around a lot of people that seem to have everything figured out.

mynameis said:

Cheap State schools FTW, seriously...

Are you really having trouble finding loans? or just finding loans with a decent rate?

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Yeah, I might consider some other schools now that I've obviously got the time. As far as loans, I simply couldn't get approved without a co-signer and the only one that was not only willing but able to do so was my dad. He was unfortunately denied. He doesn't even have bad credit really, just way too much of it. A lot of things he needs to pay off before he's not considered a risk apparently.

fleurya said:

It will suck paying them back though. I plan to live like a bum for a few years and pay them off straight away. And don't listen to those who claim they don't have to pay them back. They follow you forever like any other bad debt. People used to file bankruptcy to get away from them, but there have been laws passed which prevent that or exclude student loans from the debt that is expunged.

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I pretty much had the same plan. Live on as little of a budget as possible after school and spend as much as possible repaying the debt. I don't even care about making bank honestly. I'd be more than happy making just enough to pay a decent amount of the loan each month while being able to get by. Heck, I'm just getting by now and it doesn't bother me. The only thing that bothers me is the means necessary to do it. If I had a secure job that I enjoyed, making loads of cash is in the lower bracket of vitalities.

Thanks again to everyone for not only the advice but the relativity of the situation as well. You've given me a lot of insight and views that ultimately have led me to believe that I'll regret never going a lot more than going. I still need to figure out a way to get me some loanage before I can go back though. I'm currently in the process of fixing my credit. Does anyone know of some other decent loan agencies other than Sallie Mae? I've heard of some people finding lenders that they highly prefer over the standard school appointed agencies.

Always appreciated.

You could enlist for 2 years and use the Montgomery G.I Bill to completely pay for college. There are many jobs in the military for artists. If you want more information let me know, I know a lot of people just think "Oh God no" when I mention the military but it is really not a bad option.

College loans are a great idea. Lets you invest in your education now, and use the extra income later to pay it off. If I remember correctly, even with loans, college grads get an extra 60% in their life income compared to those with only high school.

babarnette said:

You could enlist for 2 years and use the Montgomery G.I Bill to completely pay for college. There are many jobs in the military for artists. If you want more information let me know, I know a lot of people just think "Oh God no" when I mention the military but it is really not a bad option.

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That's a great idea. Of course these days it's not exactly exciting to go into the military, but I'm sure it could be a great experience and free college! If I didn't have a disability, I would have probably joined up for the G.I. Bill.

Well if you were to enlist for two years, your G.I. Bill would be minimal, and is not a part of every rate in the military either. If you do pursue that route, get it in writing.

As far as student loans, do you have previous student loans? I have had friends with bad debt get student loans.. the only reason I have heard you can't is if you have previous loan that are in default.

Or are you referring to not being able to get a loan after you use your federal loans?

Trey said:

As far as student loans, do you have previous student loans? I have had friends with bad debt get student loans.. the only reason I have heard you can't is if you have previous loan that are in default.

Or are you referring to not being able to get a loan after you use your federal loans?

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No, it's weird. Just from the get go, I couldn't get approved for any type of loan. I've just got like an unpaid cell phone bill and maybe a couple late utility bills (that I'm aware of) from an apartment I used to live in. I didn't think I'd have too hard of a problem either but apparently I was wrong.

babarnette said:

You could enlist for 2 years and use the Montgomery G.I Bill to completely pay for college. There are many jobs in the military for artists. If you want more information let me know, I know a lot of people just think "Oh God no" when I mention the military but it is really not a bad option.

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I've actually tried this option too and went to MEPS and everything but was turned down by the army due to my background check. Again I was surprised because I didn't think my background was too serious. I was on probation at 16 for taking my step-dad's car without permission for a few hours and he pressed charges. Then after I got caught for a few underage drinking charges, I was revoked at 17 and spent a few months in jail but apparently that was enough to disqualify me.

It's just frustrating. Especially when every day people I know tell me how easy it is or different options I can do when I've tried them but for some reason those options and ideas don't seem to work for me. I would absolutely love to join the service but for now I guess all I can do is try to work and save up some dollahz.

Thanks again.

Tek said:

No, it's weird. Just from the get go, I couldn't get approved for any type of loan. I've just got like an unpaid cell phone bill and maybe a couple late utility bills (that I'm aware of) from an apartment I used to live in. I didn't think I'd have too hard of a problem either but apparently I was wrong.


I've actually tried this option too and went to MEPS and everything but was turned down by the army due to my background check. Again I was surprised because I didn't think my background was too serious. I was on probation at 16 for taking my step-dad's car without permission for a few hours and he pressed charges. Then after I got caught for a few underage drinking charges, I was revoked at 17 and spent a few months in jail but apparently that was enough to disqualify me.

It's just frustrating. Especially when every day people I know tell me how easy it is or different options I can do when I've tried them but for some reason those options and ideas don't seem to work for me. I would absolutely love to join the service but for now I guess all I can do is try to work and save up some dollahz.

Thanks again.

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I'm sorry to hear that. I'm kind of surprised though because your background stuff is all before you were 18 and should not apply. Oh well, good luck in getting to college.

Tek said:

No, it's weird. Just from the get go, I couldn't get approved for any type of loan.

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Where did you try to get a loan?

mynameis said:

Where did you try to get a loan?

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Through Sallie Mae initially and I can't remember exactly where online but I put in a couple applications that were denied that way too.

Fafsa !!!!!!!!!!!!!!!!