We always get queries from students experiencing a daunting dilemma keeping them from achieving their dreams: getting into their dream college but lacking the necessary funds. There can be several barriers to education, and financial hurdles are one of them. So, what should you do when your dreams clash with reality? Keep reading to understand how to seek the window of opportunity.
Real Stories, Real Solutions
This time, we received a somewhat heart-shattering query from Kristie, one of our readers. Kristie writes:
“My parents filed for bankruptcy almost a year ago. I have been accepted into the college of my dreams, but my parents can’t get a student loan for me, and unfortunately, they don’t have anyone who can cosign. Do you have any advice before I turn down the school?”
Achieving higher education amid financial troubles is a predicament many students face. In Kristie’s case, her parents cannot assist her with her student loan, which is again too common and very unfortunate.
For those like Kristie, traditional paths to college might be obstructed, but there are some excellent alternatives. Our advice at Westgate Law always centers on finding sustainable and realistic solutions to such challenges.
We’re glad Kristie’s parents aren’t taking out suffocating amounts of student loans. Parents always do that only to default and face lawsuits and garnishments. Considering Kristie’s situation, here’s what we suggest.
Public School Strategy
Kristie probably could have thought about this option, but for those in a similar situation, here’s what you can do. If your dream school is a public institution with steep out-of-state fees, consider temporarily moving to the state to establish residency and qualify for in-state tuition. Indeed, you’ll have to delay your education for a year, but the financial savings would be worth the wait. It’s an absolute test of patience while you work to meet the in-state tuition requirements.
Private School Approach
For those aiming for private colleges, a combination of part-time employment and a lighter course load can be a mindful strategy. It helps manage costs more efficiently and offers real-world experiences alongside academic learning. But it would also mean stretching your education by taking fewer classes each semester. It reduces the number of units you pay for at a time, but you can use your earnings to pay for living expenses and minimize tuition debt.
An Untapped Resource? Scholarship!
Financial aid can be scarce as these options are disappearing. However, the plan is to actively seek scholarships and grants to help pay for tuition or living expenses. These resources may be limited, but you can still find something that suits your situation and eases the financial load of a college education. Also, whether dealing with economic challenges or seeking advice on educational pathways, do not go at it alone. Seek expert counsel and secure your future.
The Final Say
Kristie’s situation is a potent example of the need for flexibility and creativity in pursuing educational goals. Though challenging, the path to higher education is still achievable with meticulous planning, diligent research for academic aid, and a willingness to adapt.
Seek Professional Guidance
We hope you find our insights helpful. If you’re still wondering how to go about these alternatives precisely, we can assist you. Many students today give up on their dream colleges due to a lack of funding arising from parental bankruptcy. If you or someone you know might benefit from expert assistance, the Westgate Law team is committed to providing guidance supporting life goals while addressing legal needs. Call us at 800-891-1995 for more information.