College while in ch 13?

[95kindebt]

I am a stay at home mom/part time preschool teacher. Before we were considering a ch 13, I was planning on going back to college, but I have to take out student loans to do so, can I do this while in a Ch 13?
Thanks.

[inevitable]

You can always try, but make sure you consult your attorney, and then ask the trustee for permission to incur new debt.

[Flamingo]

A Chapter 13 does not stop one from pursuing an education. Call your attorney and ask what you need to do to look into it. Investigate with the school's financial office as to what loans, grants or scholarships may be available to you or for which you can apply.

[rpg1977]

I was wondering the same thing! I want to go back to school now that my kids are in school all day. I'll have to look into it more. Good luck!

[kellmaestra]

I have in chapter 13 for two years now. Last fall I went back to college to finish my degree using student loans. I contacted my attorney and he said that it was permissiable. I did not even have to get the Trustee's approval.

Both of my loans are Stanford loans.

Kelley

[DUMBAGAIN]

I'm enrolled now and my Attry said no problem with the student loans. Be sure to ask.

[Billssuck]

I was wondering the same thing for my husband; I'm getting ready to get a promotion in January but he is looking at getting laid off from work. I thought it would be a good time to try to change his career and go back to college.

[HHM]

Interesting, you are in a chapter 13 and you are going to take out new, non-dischargeable loans.

[DUMBAGAIN]

Many work places today are requiring Degrees to move up. I feel the student loan is a debt that will payoff in the end. Kinda goes with the old saying sometimes you have to spend money to make money, IMHO.

[banca rotta]

Interesting, you are in a chapter 13 and you are going to take out new, non-dischargeable loans.

My thoughts exactly with so many other options available. Not easy I admit but doable without the "non-dischargeable loans".

[HHM]

Many work places today are requiring Degrees to move up. I feel the student loan is a debt that will payoff in the end. Kinda goes with the old saying sometimes you have to spend money to make money, IMHO.

LOL

Tell that to all the middle class, college educated folk who file BK. The vast majority of those that file BK are college educated.

[walkthaplank]

Many work places today are requiring Degrees to move up. I feel the student loan is a debt that will payoff in the end. Kinda goes with the old saying sometimes you have to spend money to make money, IMHO.

Does your employer offer any type of tuition reimbursement? A lot of employers who want to see your education increased, especially for advancement are willing to pay for part of that as long as it pertains to your job.

I'd do anything I could to avoid taking out student loans. I've told my oldest to do anything he can to avoid taking out student loans. Taking out student loans except in very few fields don't really repay the loans and you'll never really get ahead. A few of the schools my oldest was looking to attend offered all sorts of financial aid, but they did not offer loans through the financial aid office, as a matter of fact they actively discouraged it for the very reason that you will have an albatross around your neck until you are able to pay it off. They wouldn't stop you from finding a student loan on your own, but they definitely discouraged it. One of the schools was a very small liberal arts college on the east coast who gave 10% of all new students a full scholarship (all 4 years, food housing, tuition, books and stipend) and other students varying degrees of scholarships. BTW, this school in particular did not offer ANY athletic scholarships and did not expect 4.0 GPA. They weren't looking for children of wealthy families hoping to suck out legacy money as they already had a huge endowment that would allow them to continue their scholarship program indefinitely. They wanted a well rounded student who was enthusiastic about the school and getting a good education.

Depending on your age, or maybe for your kids, with the economy the way it is, ROTC programs offer great scholarships and a job when you are done. My son decided he was burned out with school for right now and wanted to enlist, he leaves at the end of the year for basic.

The only student loans I would look for are the types of loans that will be forgiven if you work in a certain field for a certain period of time. I had a friend who paid for most of her masters program that way. The school arranged the loan AND job placement and after she had been in her field for 5 years the loan was forgiven. She no longer works directly in that field, but she still has her masters, was paid a full salary and benefits and never paid a dime on the loan.

There are options out there to avoid student loans, they are getting harder and harder to find, but they're still there. For the stay at home mom/part time preschool teacher or really any working adult, could you realistically get a job that will pay off the amount of debt (loans/interest) you would be incurring? Would there be a net gain? A lot of times people assume that college degree equals big bucks. I don't have a degree, yet I make more money than most of my friends and relatives with degrees (I just suck when it comes to managing money or I wouldn't be here ). A lot of times people get caught up in the pitch or won't look at the big picture. These loans add up fast and the interest mounts exponentially. Next thing you know there is another $100k+ in debt that will be with you for the rest of your life.

I'm not saying don't get an education, I'm just saying look at all of the alternatives and avoid student loans at all costs. Try to find ways to cut down the expense of your education through maybe a community college. How many people on this forum wish they could go back and do it without the student loans?

[sassiebaz]

I'm sure we all wish we could go back and NOT take out loans. But, I know for me that is impossible. If I continue trying to work with my current skills, I'll be stuck making $12/hr the rest of my life. If I continue with my plans to go to school, I will be out making atleast $22/hr right out of school. I'm taking out loans, and that's the end of it. I feel I don't have any other choice!

[HHM]

Ok, time to side track for a bit and get on my high horse ( )

I think one of the main reasons so many, even menial, jobs require a degree is a reflection of the low value of a degree. The free availability of student loans has cheapened education. But, some of it is systemic, our K-12 systems is so lacking that we expect the Bachelors degree to make up the short fall. Only 50 years ago the average college professor only had a Masters Degree. A Masters Degree, in most fields is useless now, you are better off staying at the Bachelors level or getting a the Ph.d.

However, I think people need to approach college education like any other purchase. If you can't pay for, you don't buy it.

I must admit, I am a bit of an elitist on this issue, easily 60% of students in college right now have no business being there.

[95kindebt]

Does your employer offer any type of tuition reimbursement? A lot of employers who want to see your education increased, especially for advancement are willing to pay for part of that as long as it pertains to your job.

I'd do anything I could to avoid taking out student loans. I've told my oldest to do anything he can to avoid taking out student loans. Taking out student loans except in very few fields don't really repay the loans and you'll never really get ahead. A few of the schools my oldest was looking to attend offered all sorts of financial aid, but they did not offer loans through the financial aid office, as a matter of fact they actively discouraged it for the very reason that you will have an albatross around your neck until you are able to pay it off. They wouldn't stop you from finding a student loan on your own, but they definitely discouraged it. One of the schools was a very small liberal arts college on the east coast who gave 10% of all new students a full scholarship (all 4 years, food housing, tuition, books and stipend) and other students varying degrees of scholarships. BTW, this school in particular did not offer ANY athletic scholarships and did not expect 4.0 GPA. They weren't looking for children of wealthy families hoping to suck out legacy money as they already had a huge endowment that would allow them to continue their scholarship program indefinitely. They wanted a well rounded student who was enthusiastic about the school and getting a good education.

Depending on your age, or maybe for your kids, with the economy the way it is, ROTC programs offer great scholarships and a job when you are done. My son decided he was burned out with school for right now and wanted to enlist, he leaves at the end of the year for basic.

The only student loans I would look for are the types of loans that will be forgiven if you work in a certain field for a certain period of time. I had a friend who paid for most of her masters program that way. The school arranged the loan AND job placement and after she had been in her field for 5 years the loan was forgiven. She no longer works directly in that field, but she still has her masters, was paid a full salary and benefits and never paid a dime on the loan.

There are options out there to avoid student loans, they are getting harder and harder to find, but they're still there. For the stay at home mom/part time preschool teacher or really any working adult, could you realistically get a job that will pay off the amount of debt (loans/interest) you would be incurring? Would there be a net gain? A lot of times people assume that college degree equals big bucks. I don't have a degree, yet I make more money than most of my friends and relatives with degrees (I just suck when it comes to managing money or I wouldn't be here ). A lot of times people get caught up in the pitch or won't look at the big picture. These loans add up fast and the interest mounts exponentially. Next thing you know there is another $100k+ in debt that will be with you for the rest of your life.

I'm not saying don't get an education, I'm just saying look at all of the alternatives and avoid student loans at all costs. Try to find ways to cut down the expense of your education through maybe a community college. How many people on this forum wish they could go back and do it without the student loans?

I would be going to school to get a Bachelors degree to teach in elementary school education for the rest of my life. It's my passion. I'm looking into other avenues of persuing an education, I was just wondering how it factored in.