Paying for Prep School

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OhGoody2017

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Hello everybody! I am very pleased to say that I will be attending NWPrep as a Falcon Scholar. This scholarship covers almost all of the tuition, but does not cover things such as travel, clothes, and other necessities. Altogether these items will come in over a thousand dollars. My family is not the richest, and I know that we will have a hard time paying for this. Does anyone know if I am qualified to take out a student loan for this?
 
You can take out a student loan for anything that's education related. If you justify it for your education you can use a student loan. In short yes, but it would be best to apply for outside scholarship and exhaust those resources before applying for a loan.
 
Congratulations, @ItsWes! America Works is correct about the student loan. I am a college professor and I work in admissions too, so I wanted to add to that. If it is possible, choose the federal Perkins or Stafford loans, for two reasons: 1) At least for the time being, the interest is deferred while you are enrolled at an accredited undergraduate degree-granting institution (fancy-speak for most colleges and universities, including SAs) - this is not true of most private student loans from banks. 2) The interest rates are significantly lower than private loans.

You are asking to borrow a relatively small amount. (I know it's a LOT for you, but to the Fed, it's not.) You won't have to make payments until you graduate, BUT you could, if you wanted to, while you're a USAFA cadet. And since the amount is small, it's entirely realistic to pay it off before you even graduate.

Kill it at NW Prep this fall!
 
Congratulations. $1,000 is ridiculously inexpensive for what could be 5 yrs. Of first class education and a career. Very few parents would balk at chipping in 1K. I don't know if they smoke or drink, but that could easily be over 1K a year. Family of three go out to eat once a week for a year? That's over 1K unless you eat at White Castle or Mcdonalds. Get rid of cable for a year, or figure out how to make some money. Unless there are severe medical problems, your family should help you. You've earned 99% of it... good luck!
 
Congratulations to you and best of luck!

Please check with your Guidance Counselors and go on line to see what Scholarships are available. There are many organizations that award small scholarships. When our children graduated from HS the program included Scholarships from all sorts of sources I had never knew existed.

I don't the question was posed as the family was 'balking' at paying expenses, it sounds like resources are scarce.

What seems like a small amount to some is a great amount to others.
 
@ItsWes Congratulations! You have nearly 7 weeks before beginning NWP. Can you reach out to organizations like American Legion, Veterans of Foreign Wars, Rotary, and Lions Club? Churches? Many of them have funds set aside for scholarships.

Can you find a summer job? Ask neighbors or friends if you can do odd jobs for them like mowing their lawns, washing cars, walking their dogs, babysitting, cleaning out their garage, etc? If you explain why you're trying to earn money, I bet you'll find support.

You can recycle cans, plastic or glass bottles. Have a garage sale or sell things on ebay. You could even try an online fundraiser through gofundme.

$1K is doable!
 
ItsWes said:
Hello everybody! I am very pleased to say that I will be attending NWPrep as a Falcon Scholar. This scholarship covers almost all of the tuition, but does not cover things such as travel, clothes, and other necessities. Altogether these items will come in over a thousand dollars. My family is not the richest, and I know that we will have a hard time paying for this. Does anyone know if I am qualified to take out a student loan for this?
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Just a heads up, but NWP is not an accredited undergraduate degree granting program, so there are implications for the use of some scholarship monies and 529 funds, etc. Not sure if this applies to student loans. This is not a knock on NWP, just a reality about the nature of their offering. I second that your best bet may be to do some independent fundraising to help defray the costs.
 
That's an important caveat: you can't obtain federal student loans for an institution that isn't accredited - and the particulars are beyond my expertise. But I echo the great advice to check with HS guidance counselor and local service organizations for scholarships. If you turn over four $250 rocks, you're set!
 
Government loans are only allowed for Accredited Degree granting institutions. NW Prep does not qualify. However some private loans will allow non-accredited schools. Check online and you might find some.

On the other hand....if you pick up a gig delivering pizza for the next five weeks, you can likely score your $1K, or get darn close to it. (four hours a day for five days a week @ $8/hour plus tips).

Get creative, hold a garage sale! Take in neighbor's stuff for a 20% cut on consignment.
Mow lawns! A thousand bucks is very doable.

Tutor math and reading to younger students in your area.

Sell your old clothes and video games on eBay or craigslist.

Take a break from reading this forum and get going!
 
The appointee kit for class of 2021 states all personal debts must be settled before reporting. So I'd caution against taking a loan. Better to scape by with a little less and work to pay your incidental expenses than to be trying to figure out how to pay off the loan next year.
 
And of course - you are currently working or seeking employment? Is there any reason you can not work while at this prep school? I earn over $500/weekend simply officiating youth sports. I do that many games because there is that type of demand for officials - not because I need the $ or even have any desire to work that many games every weekend, I just get guilted into doing it.

Sports officials are in high demand and even recreational/church and club level games tend to pay $25-$40/game and you can set a schedule that accommodates your school calendar. If you know anything at all about baseball, soccer, softball, lacrosse, football, volleyball - there is a scheduler that would work with you to get 3-4 games every weekend to minimally have $100/week.

Register and pass the USAV officials certification process and you can do a single 3 day tournament such as President's Weekend and earn close to $900

Plus you will find that being yelled at by 9 year old Johnie's Mom about how you just cheated him out of a college scholarship will make BCT yelling seem minor.

Plus you can sell plasma every weekend.

Coming up with a $1000 to cover the next 10 months of expenses should be an incredibly easy thing to do for someone intelligent enough to attend an SA.
 
Cerberi, I don't believe we can work while at prep school. There is very little time off in the first place and we are not allowed to have cars or bikes. Love the advice about the youth officiating though!
 
Is there anyone who would hold a graduation party or going-away party for you? If so, not only would it be a wonderful chance for your friends and family to celebrate with you, you can ask for freshman essentials for gifts! Gas cards, restaurant cards, small kits like laundry stuff, first aid stuff, clothes, etc are affordable and fun to give! It would be thoughtful to invite your teachers, mentors, coaches or anyone who helped you so far. Once you get to prep school, follow the same dollar stretching advice every other college kids follows: rent your textbooks, ride-share, use every free resource you can at school or nearby (get your teeth cleaned at the nearest dental hygiene school, join a youth group that has a supper club once a week, workout on campus). Good luck!
 
ItsWes said:
Hello everybody! I am very pleased to say that I will be attending NWPrep as a Falcon Scholar. This scholarship covers almost all of the tuition, but does not cover things such as travel, clothes, and other necessities. Altogether these items will come in over a thousand dollars. My family is not the richest, and I know that we will have a hard time paying for this. Does anyone know if I am qualified to take out a student loan for this?
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Doesn't NWP offer scholarships for prep students who may apply who are eligible?
Congratulations on your Falcons Scholar selection!
 
Only this student, and their family, can determine what is "ridiculously inexpensive." It is presumptuous and arrogant to ask if they smoke or drink.

You have no knowledge of this student's family situation and whether or not they can or "should" help as you asserted.

This student asked a simple question and fortunately received some non-judgmental guidance.

For the most part these are young people asking sincere questions. I think we help them most when we provide answers that we have direct experience with and don't presume to know their situations.


Maplerock said:
Congratulations. $1,000 is ridiculously inexpensive for what could be 5 yrs. Of first class education and a career. Very few parents would balk at chipping in 1K. I don't know if they smoke or drink, but that could easily be over 1K a year. Family of three go out to eat once a week for a year? That's over 1K unless you eat at White Castle or Mcdonalds. Get rid of cable for a year, or figure out how to make some money. Unless there are severe medical problems, your family should help you. You've earned 99% of it... good luck!
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Tigger said:
Only this student, and their family, can determine what is "ridiculously inexpensive." It is presumptuous and arrogant to ask if they smoke or drink.

You have no knowledge of this student's family situation and whether or not they can or "should" help as you asserted.

This student asked a simple question and fortunately received some non-judgmental guidance.

For the most part these are young people asking sincere questions. I think we help them most when we provide answers that we have direct experience with and don't presume to know their situations.


Maplerock said:
Congratulations. $1,000 is ridiculously inexpensive for what could be 5 yrs. Of first class education and a career. Very few parents would balk at chipping in 1K. I don't know if they smoke or drink, but that could easily be over 1K a year. Family of three go out to eat once a week for a year? That's over 1K unless you eat at White Castle or Mcdonalds. Get rid of cable for a year, or figure out how to make some money. Unless there are severe medical problems, your family should help you. You've earned 99% of it... good luck!
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Thank you for your opinion. We all have one, right? Hope you feel better.

I stand by my original statement. $1,000 is miniscule compared to the value of an academy degree and a team effort by a willing family should be able to get it done. If the family won't pull together, a kid bright and industrious enough to obtain an appointment should be able to round up $1000. The report day isn't secret, it is published well in advance. As for the smoking/drinking example, if they do either regularly, and can't help this kid, then shame on them.
 
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