Tuesday, April 13, 2010
Counting Sheep Over College Costs
In the past few days, I've spent countless hours on-line researching one scholarship after another and have come to the conclusion that Amanda is basically up the creek with a leaky canoe and no paddles when it comes to grants or scholarships as she's the wrong ethnicity, I make too much money, we live in the wrong place, and she's healthy. There are scholarships out there for some of the most obscure things but darned few for regular old kids who come from middle income families.
I know that everyone has told me not to stress about it as things will work out but based on my EFC (expected family contribution) on the FAFSA (federal application for student aid) Amanda does not qualify for any grants whatsoever which makes the only option available to her student loans. Granted, everyone has student loans these days and it's all part and parcel of going to college but there's also the hurdle of her having to have a co-signer and - truth to be told - my credit is horrible and is not going to help her in the least.
I have no credit cards and I have no debt other than average bills and my car payment but my credit took a major hit after my divorce and it looks more like a piece of moldy Swiss cheese than anything. It doesn't help that I totally suck at money management. I don't think I could co-sign a loan for a stick of gum, never mind major college financing, so the whole thing has really got my stomach in a knot and my head whirling.
It stinks that I can't be as excited as she is about the prospect of attending Montserrat as I'm just too busy worrying about where the money is going to come from. I'm very proud and happy that she received a scholarship (a girl in one of her art classes got accepted into Montserrat but didn't get a scholarship) but there's still a lot of money that's going to have to be paid for her to pursue her dream. Oh, and for those wondering - her father has not contributed a single dime towards anything to do with her since she moved back in with me in October of 2005 so there's no way he's going to be providing anything towards her college education.
I just need to find 27,000 people willing to donate $1 each as that would pay for her first year of college but alas, I don't have anywhere near that many friends on Facebook and I doubt that putting a virtual tin cup on the sidebar of my blog linked to Paypal would do it either! I guess I could continue to try "College Financing via the Lottery System" but if Saturday night's dismal results of the two Powerball tickets I bought is any indication, that ain't gonna work either I'm afraid. Sigh. I really should have planned better for all this.
At the rate things are going, I'm going to give myself an ulcer! Oh well perhaps I just need to learn to relax ...