Student Loans from the Military
I’m gonna keep this particular email anonymous for the time being, if only because the writer agrees that Student Loan industry (INDUSTRY!?) is broken. His message gave me pause, as my father also joined the military (Marines) to help pay for his own college education. My dad’s a Vietnam vet – and while he’s proud to have served his country in such a fashion, it’s always been a touchy subject.
Here’s that email:
My story is a little different, in that I had a pretty low loan balance.
But not by choice…
I started my university journey at 28, via a veterans rehab program. This covered my tuition and books, plus gave me a $330/month stipend. At that age I had already purchased a house. The stipend barely covered the house payment. I had been working steadily before college, and had a good part time job as a computer tech lined up.
A student loan would have been great to cover the ‘just in case’ expenses, but…
I couldn’t qualify, I made too much money. Plus, at my age, the whole ‘parental contribution’ aspect was ludicrous (actually, it always was). In my junior year, I quit the good paying job to focus on my studies (Electrical Engineering junior year is brutal). After one year of not making it financially (and almost having the house repossessed), I qualified for a $3000 loan….
I completely agree that the system is broken.
So, what if the Internet started serving as a University? No books, no exorbitant tuition, local meetups for affinity groups, teleconferencing, etc. Sounds crazy, but at least that idea is more realistic than setting yourself up for a financial catastrophe.
You rely on your computer, and so do your customers. Keep your computers (and theirs!) running in near-perfect condition with the help of Optimize 3.0. Use it to get rid of unnecessary files and junk, clean out your registry, and even streamline boot times.
8 Comments
The Chris Pirillo Show
May 29th, 2007
at 4:05am
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Tony
May 31st, 2007
at 8:16am
This e-mail demonstrates one of the aspects of paying for college that is broken. I understand the rationale for parental contribution, but expecting it of a 28-year-old is ridiculous, if the school forced that. I had that expectation placed on me when I was in college, despite the fact that my mother couldn’t afford to contribute to me education. All that happened is she ended up with 40% of the debt from my degree placed on her.
I paid it, but why should we force students to go through that charade? If nothing else, it would make repayment easier and more honest. It could also help to demonstrate practically that college is expensive so we can address what drives up costs. It’s reasonable to expect students to pay for their education, but we should create a boondoggle the hides and increases the costs.
Signora Ricci
May 31st, 2007
at 9:12pm
More people should be aware and take advantage of The Veterans Administration Survivors’ and Dependents’ Educational Assistance Program (DEA) for some Veteran servicemembers and their families, as well as the education benefits available for Active member and reservists…….
DEA provides education and training opportunities to eligible dependents of certain veterans (who died of service-connected disability, currently has permanent SC disability, POW, MIA). The program offers up to 45 months of education benefits. These benefits may be used for degree and certificate programs, apprenticeship, and on-the-job training. If you are a spouse, you may take a correspondence course. Remedial, deficiency, and refresher courses may be approved under certain circumstances.
Spouses, surviving spouses, and dependent children even if married (natural, step, and adopted) between 18 + 26, (although sometimes extensions are granted) can get $860.00 per month sent directly for Full Time educational expenses. Rates drop depending on number of credits taken, but are still available. these are not loans, checks are sent monthly.
Go to http://www.gibill.va.gov/GI_Bill_Info/benefits.htm#DEA
for complete details, but here is some general info:
GENERAL ELIGIBILITY–
You must be the son, daughter, or spouse of:
–A veteran who died or is permanently and totally disabled as the result of a service-connected disability. The disability must arise out of active service in the Armed Forces.
–A veteran who died from any cause while such service-connected disability was in existence.
–A servicemember missing in action or captured in line of duty by a hostile force.
–A servicemember forcibly detained or interned in line of duty by a foreign government or power.
–A servicemember who is hospitalized or receiving outpatient treatment for a service connected permanent and total disability and is likely to be discharged for that disability. This change is effective December 23, 2006.
Also check associations for grants + scholarships available only to servicemembers, retiree’s, veterans + dependents.
The “Student Loan” program would be my last choice for aid. You will end up paying for years. Be aggressive about applying for all the grants, scholarships, work study and whatever else you can find.
Ancient Knowledge Techie
June 1st, 2007
at 6:23am
I couldn’t qualify even though my father was 100% disabled USAF wwII pilot.
You see, his disability included mental problems that forced Mom to divorce and remarry, and because of the trauma, we were in family court, where the judge ruled that we could come out from the DCF foster care if we were adopted by her new husband.
Catch-22. In spades. I served and retired from 20 years in the USAF, but, could not complete college, with the TDY duty worldwide, and the other “needs of the government”. The GI bill expired the month I retired.
So much for any thanks to America’s patriots! If you care, run GNU/Linux,
my current niche. Recommend http://livecdlist.com
Linda
June 2nd, 2007
at 9:52pm
I went back to school in my 40’s and you can get a loan. First, you really need to establish yourself as an independent student. If you live at home, move out. You qualify for more if your not a dependent or linked to your parents income. If your looking for “free’ money such as grants, they are based on need or have special requrements. Not easy to get but there are still grants available if you do your research. Such as a grant based on your field of study.
For a loan, fill out a FAFSA and apply for William D Ford Federal Direct Loan. You can qualify for subsidized and unsubsidized loans. They were available to me every year until I graduated. I found that some Financial Aid offices are not as helpful as they should be. Do your research, find out what is available, don’t take no for an answer…be persistant.
Go here for more information on $$ available and how to apply…
http://studentaid.ed.gov/PORTALSWebApp/students/english/studentloans.jsp?tab=funding#03
Paul Sherman
June 4th, 2007
at 7:15am
Hi again from the original poster….
I think the msg from Signora Ricci is useful to the family of the vet, but not of any help to the vet himself (that’d be me). I’m a life member of the Disabled American Veterans and currently in the American Legion.
At that time, I was unaware of any additional help.
I was in school in the late 80’s/early 90’s so I don’t know if the Ford loans were in existence. My University Financial Aid office only offered what I ended up getting. As for being persistent; well and good if I had the time, but I had bills to pay and homework to do; plus full time work during the summer….
The best freemusic download
November 7th, 2007
at 8:11pm
It can on occasion get bothersome to divide the good consolidation loans reading from the inadequate.
duckie
September 20th, 2008
at 9:34pm
My mom and dad are in vietnaim vet rehab in manilow bay for a couple years, I’ve been working for 10 years at dead end jobs and struggling to support my family I’m 27. My dad told me that qualify for grants is it true I need help to ge to college to get a better job do you have any advice?