Going to college in a few months!

[dorkiedoode]

Class of 2007 and going to college in a few months. Is it to late to start researching information about loans and investing? My parents are not native English speakers and are not familiar with any of these things so I will have to do my own research. Please point me to the right direction with tips and advices. Thank You. I will be on the forum searching too. I love reading about anything that has to do with finance. My goal is to find out how to get the best loans, save money,401k's, ira roths, taxes and other investments. Just started my online savings with ING for the 25$ bonus then switching to Emigrant Direct for the APR. Oh, I would also like to know if I have to do taxes because of the interest I will be earning from both savings account (ING $45 so far by bonus referrals and promotion)?

[corns]

Hi dorkiedoode,

It is never too late to start researching. In fact, you're getting a head start over the majority population.

Putting investing on the side, what you should be careful at your age is the credit cards and personal loans. There are credit cards targeting the college student market. It is not surprising to hear students spending and maxing their credit cards.

Make this a goal for you. You enter college without any credit card debt. You should also graduate from college without any credit card debt.

[tinapbeana]

when it comes to financing college, you might be a little behind if you're wanting to get in for the fall semester.

have you already applied and been accepted somewhere? if not, i would strongly consider taking your first year at a local (aka community) college, one that is accredited so your class credits will transfer. you'll save a BUNCH of cash going to a small school your first year or two.

to give you an idea, i went to a small local school for a summer session when i couldn't find a job. their billing was such that i could take 4 or more classes for $550 in tuition. i took six, and all six of those classes trasnferred to the college i was already attending that cost 25k a year in tuition! even though i had a scholarship for that tuition, it was still a smart move for me. this meant that instead of taking 4 years to earn all of my college credits i actually had them in less than three, which freed me up my senior year to take some graduate classes and work on a research team.

classes like biology, chemistry, american history, american lit, and statistics will almost always transfer between accredited schools.

[dorkiedoode]

i been accepted to and planning to attend cal state of northridge for this upcoming fall semester.

[Homebody]

Hi dorkie! You are just two years younger than my youngest child. Your high school counselor should be able to help you.

You need to get your parents to help you fill out a FAFSA form. Are you living in the dorms? Who paid for your application fee? What is the date you need to make your first payment.

I have friends who's children are going to a couple of Cal State Universities, Sacramento and Sonoma and it is $800.00 a month for the dorms/food. DO you have anything saved at all for college? Are your parents able to contribute. Do you have a job right now? It is generally cheaper to live off campus, but I don't know the rental market in Northridge area. In fact both girls are moving to apartments for the fall semester rather than stay in the dorms.

Books can be incredibly expensive. At YD's JC in North Carolina, they told her the best day to come in and look for used books, ask your bookstore. Also if you can, get the IDS #s or whatever that number is on the book and check out online bookstores.

Contact Financial Aid at Northridge too, they should be able to help you. Time to start living frugally!

[Joan.of.the.Arch]

Hi, dorkiedoode. Like your name as --what can I say?-- I tend to like dorky people.

It is not too late to apply for student loans, either government backed loans or totally private loans. You can get info from any college financial aid office. It does not even have to be from the school you plan to attend.

To learn in a general way about student loans, use the internet. I have looked at some of the sponsors of this forum and some of them had some good explantations of various types of students loans and loans to parents for college. I'm not endorsing any of the specific lenders: I just think they have some good explanations. They are listed over to the right of the forum text on these pages.

You probably need to separate your research about student loans from your research about retirement saving and investing.

[dorkiedoode]

thank you for the advices!! ahh all these college stuff is giving me a headache. hah. i do not have a job yet but i been saving most of the money given to me by my parents. i think i will start to find a job this summer, my dad won't let me get a job during school year because he thinks it would interfere with my work. i am also living at home which will save me tons of money but the only bad thing is that its 25 minutes commuting. that will burn a hole in my wallet for gas. i also know some friends that will be attending that live near me so that might help on gas. i hope i will get accepted for the citi driversedge card which gives 6% rebate for the first year. i am not qualified for finaid but i do get money for cal grant B but i am also qualify for cal grant A. which one would be the most benefit? i hope i still get it because i kind of turn in my paperwork that they requested late =(