Hello, I don’t know if this is in the right category but I have a financial problem. I am going to be an upcoming sophmore at Mass Maritime, but I recently lost my co-signer and am unable to find one. If I am unable to find one, I cannot go to school, if I cannot go to school, I have to pay for my upcoming bill for my freshman year that I have attended. What I am asking is, is there an organization out there where I could be covered by them financially until I graduate and pay/work for them once I graduate? My other idea that I thought, is there a union school where I can apply to and get some kind of Marine Engine license, that way I can ship sooner and maybe eventually go back and get my bachelor’s. If there are union schools out there, would they cover my education until I graduate and THEN pay them back? (Preferably in the New England area.) I want to ship out and be an engineer, but as of right now its looking very dim for me, I am in a financial hole where I cannot get funding to get my education. Please contact me or post if you have ANY suggestions please.
Get a job as a wiper on an OSV in the gulf.
There is some way for you to get some sort of financial aid from the school and or a federal or private student loan or grant. Its Mass Maritime’s job to help you resolve this. Stay in school.
Can’t delete a post from my phone.
Another thought, you don’t sign a new loan agreement every year. If someone co signed last year that loan is good your whole four years.
[QUOTE=Tomj93;74071]Hello, I don’t know if this is in the right category but I have a financial problem. I am going to be an upcoming sophmore at Mass Maritime, but I recently lost my co-signer and am unable to find one. If I am unable to find one, I cannot go to school, if I cannot go to school, I have to pay for my upcoming bill for my freshman year that I have attended. What I am asking is, is there an organization out there where I could be covered by them financially until I graduate and pay/work for them once I graduate? My other idea that I thought, is there a union school where I can apply to and get some kind of Marine Engine license, that way I can ship sooner and maybe eventually go back and get my bachelor’s. If there are union schools out there, would they cover my education until I graduate and THEN pay them back? (Preferably in the New England area.) I want to ship out and be an engineer, but as of right now its looking very dim for me, I am in a financial hole where I cannot get funding to get my education. Please contact me or post if you have ANY suggestions please.[/QUOTE]
I suggest Sallie Mae through your school, or independently. Works either way…they defer payments as well till you have an income.
Also, There is a little gem called Credit Boards. It is a very good forum about loans, finances, and how to educate yourself and fix credit if needed. Go there and educate yourself. There are ways to get into Credit Unions like Penfed or Navy Federal; they stopped offering student loans though, but suggest you become a member of one. The membership at CB will certainly help you with anything. I went there about 10-15 years ago with a 500 credit score and within 6-8 months had 750+ credit score with over $100,000 in revolving credit lines. Go there and dig in. You will not regret it, but it will take a great deal of effort to not only educate yourself on what’s out there, but knowing the laws that govern lenders will empower you as well - 99.9% of people have absolutely no clue what a lender actually sees about them and you can actually manipulate that to fit their thresholds.
It is a good feeling knowing, walking in any lenders office, that before they even take your name down, you already know what they will offer and what interest rate will be given beforehand. That goes for student loans or anything.
Come on anchorman you can lend them a little.
I am not sure what you mean…
Call your school’s financial aid office and throw yourself on their mercy. It is their job to help you. You should be able to qualify for Federal subsidized loans if your parents are poor or you are independent. If not, you can take out unsubsidized federal loans. You will need your last IRS filing for numbers & updated FASFA form with the Feds. If the school is not helpful, consider working the GOM for a year to sort it all out.
Maybe the navy can help you out. If you agree to be in the reserves for a few years upon graduation they may pay the bill.
Tomj:
Just go to the Mass Maritime financial aid office, they should have expertise in this matter and be able to help you resolve your problem. That’s their job.
Please let us know what kind of a job they do for you.
THank you for offering your advice people, but as of right now the financial aid office tells me that they cannot help me without a cosigner. And until I get a cosigner, I am unable to further my financial aid with salliemae or mass maritime’s program.
Just a thought, but try contacting the Alumni Association. They may have a scholarship to grant to you.
You have to sign a new loan agreement every year? I didn’t. You had a co signer last year, that should still be valid.
see my problem is that my cosigner is unavailable now. and i cannot find another one.
Virtually no one can afford to go to school without student loans. If the federal student loans ever stopped most schools would have to close. Yet, the schools are still open and millions of kids with no money are going to college. Many of them are in liberal arts programs that will never lead to worthwhile jobs. Student debt now exceeds credit cards and the default rates are high, but kids continue to go to school to study useless subjects. I do not see why you are any different.
What does Mass Maritime cost per year? Its a state school it should be pretty reasonable. How much are you getting in Pell grants, Stafford loans, and Direct loans? Are your student loans subsidized or unsubsidized? How much are you short? Again, I think Mass Maritime needs to step up to the plate with a grant or loan for the students it already has before they start funding new students.
thank you for your concern for basically my financial aid refuses to do anything for me for I do not have a cosigner, so apperently I am unable to take out ANY loans
Tom, unless you have reached your federal loan limit for undergrad, there should be absolutely no reason you would not receive federal student aid. Unless you have defaulted in the past or have something bad in your history that would disqualify you. Cosigners are only required for private loans through citibank and sallie mae, etc. Someone at the school is selling you a load of BS. I have a bachelors, working on a masters, been through several university and college financial systems. In my experience, NO ONE is ever truly denied financial aid. EVER. Keep going to the financial aid office until they show you the money. Set up a appointment with the Financial Dean at your school.
I think you ought to go to a competent independent financial aid consultant that charges a reasonable fee. The Boston area should have plenty of them.
You might also want to talk to the other academies about the possibility of transferring and see what they can offer for financial aid.
If you cannot get financial aid, then go to the Gulf and get a job for a year with a company that offers good training. A drilling company would be better than a mud boat company. Then go back to one of the academies next year.
`Ditto on Tugs advise above.
If you have exhausted ALL avenues of financial aid and still come up short - the only other option is to work and save some $$. If you want to work on the water, you then need to decide military or commercial. If commercial, this forum can help point you in a direction. If you go military - the decisions for the next four years will be made for you.