student loan or save up?

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i've been out of high school for 2 years now, and my parents want me to go to college soon, which im fine with, but neither me nor them want me to take student loans. we think they're a bad idea because any kind of debt is a bad thing and im not the greatest with my money.

but its annoying because they want me to go back soon, but not take student loans. but i dont have any money left because i recently went on a trip to california. the trip didnt cost alot but it took me a long time to save that up because i dont make much money and my spendings each month (car, cell, visa) suck up alot of that. and im in my sisters wedding this summer and i have to pay for that too.

it would take me over a year to save up the money just for the schooling but i wouldnt be able to work during that time because my schooling would be full-time so i would need double that amount just to pay my bills during the 10 months im in school.

so how can i go to school soon without taking a student loan? it would take me another year or two to save up enough money to go to school and pay my bills.

its frustrating because im not sure what i should do? my loan would be roughly $8000-$10,000 to pay for everything.

they want me to go back soon. i want to go back soon.
none of us want me to take a student loan, but it would take me 2 years to save up the money, which will make it 4 years since i graduated and im not thrilled at that

help! what do you think???

I would advise against taking out any student loans unless you are going into a field where you are absolutely sure you will earn enough to pay them back. I'm not sure if you're in the USA, so if not this may not apply to you, but if so:

Can you go to school part-time? If so, you could work part-time as well. If your school does not allow part-time enrollment, ask for work-study funding. If you do not get it, take a part-time job away from campus in addition to your studies.

Do not go to university just to be going to university "because your parents want you to." You need to have a reason of your own for being there. Spaces are limited and should be reserved for students who really want to be there and have a clue as to what they are doing. I have seen just entirely too many kids go through their 4 years (which can easily stretch to 6 or 7 because they are unable to get the classses they need due to overcrowding), get a degree they think is going to make life easy, and then find it's useless on the job market while they are saddled with mountainous debts to pay back. Also be aware that once you use your school financial aid (Pell grants, etc.) they are gone. You don't get aid for a second degree if you realize your major in, say, English, isn't marketable and you want to study biochemistry after you've already received your degree. Some universities won't even allow people in to pursue a second BA or BS degree.

Right now the cost to attend our local universities are, for state residents 1) the state U is about $16,000 per year living with parents; 2) the flagship university is about $24,000 for the same situation. We've heard through the pipeline (I work at this one) that they will probably ask for a 10% hike in the upcoming year due to a shortfall in funding from the state. There are various private universities in town, but they are more expensive.

Really, unless you are sure you can get through the program and then are sure you can earn enough to pay the loans back, do not take loans out. Work and save up. Remember that once you take out the loan, you're stuck with it for life until it's paid back. If you don't finish the program, for any reason, you still have to pay it back. If you finish and then can't find work, you still have to pay it back. If you absolutely must do this, take out only as much in a loan as you can earn working during the following summer to pay back.

Good luck!

Do not.. do NOT get yourself in any debt in this economy.

You should look into gov. grants like the Pell grant. Pell grants can give you as much as 6 thousand dollars per semester if you qualify for it all. You dont have to pay any of that money back and the only requirement to keep it all is that you attend and pass 4 classes per semester (full time student) and keep a 2.5 gpa or higher.

Realistically, you're probably gonna' have to take out some student loans REGARDLESS if you get grants and scholarships. School is expensive and unless you are an URM AND your career choice is unsaturated, you should expect to take out some money. If you do, please make sure it is subsidized and government loans. Private loans are horrible. I had to take subsidized and unsubsidized loans for my college since I needed a few more to pay everything. It pays off though. I'm going to a top public university and I did not take out much. I'll probably only take out $7,000 per year so I'll owe about $14,000 when I'm done, but I also took out $4,000 in community college so it's around $18,000. They work with you on payment plans.

Education is more important and you can defer the payments until you are employed. Unless you're going to be working as a cashier at McDonalds, you should be able to pay it off in about 10 years

Also, you will have to be very needy to get the full $6,000 for a Pell Grant! I know people with EFC of 0 that did not get that much. Also, like everyone else said... Make sure you actually want to go to college. If you're just going to because you have to, go to community college instead to get your GE out of the way and transfer when you're ready. You save thousands of dollars that way.

Like I said, no one likes taking loans. But a lot of people that I know that has an EFC of 0 had to take out at least $7,000 to pay for school. The woes of living in a capitalist country.

Unless you get a TON of scholarships and Pell Grant money, you'll have to take out loans. It's just too expensive these days.

However, don't go to college unless you study something that'll get you a good job. Myself and many others have learned (and are learning) that the hard way...

Huge +1

I was repeatedly assured that I would have no problems paying back my student loans when I got out of school. Indeed, if I just got a job paying $25,000 a year, I could have managed the payments and gotten by on a very modest lifestyle. However, I finished school right after 9/11 happened, so there was a glut of unemployed people and employers low balled the pay scale in reflection to that.

They also gutted all protections for debtors where student loans are concerned. Unless I get a job for a government agency or a qualified charity, I really have no way to get out of my debt on what employers are likely to offer in this economy.

And the schools are cranking out graduates every year who can't find good jobs.

Pay your way or don't go. The 4-6 year college program is overrated and overpriced. A 2-year program at a community college is much cheaper and there are specific skill-based programs designed to get you work-ready that take even less time and money that people are getting hired out of (employers need skills, not people who can debate Plato).