Financial Aid?

Discussion in 'General Education' started by Amers, Aug 23, 2008.

  1. Amers

    Amers Cohort

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    Aug 23, 2008

    OK, I've decided to get my Master's Degree in Curriculum and Instruction. I've found a school that offers lots of online classes and also offers classes at an extension building just minutes from my house. The degree is only 31 credit hours too, which means less money from my not so deep pockets. The problem is, it's still expensive to go back to school, and as we all know, teachers don't have much money to spare. I've been searching online for financial aid possibilities for teachers, and I'm not having much luck finding anything. I found the TEACH grant, but I already have a job in a low income district....just not quite low enough.

    If you are willing to share, how did you pay for your Master's? Does anyone know of a good financial aid program for teachers going back to school? :thanks:
     
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  3. smalltowngal

    smalltowngal Multitudinous

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    Financial aid does not pay for Masters programs. I've had to take out loans, but there are scholarships out there as well.
     
  4. Amers

    Amers Cohort

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    I have a feeling it's not going to be possible, but I'm really trying to avoid taking out a loan. I'm kind of anti-loan. I don't want to put my family into debt so early in our lives. My husband and I have all of his old student loans paid off, and are basically debt free. I really, really want to keep it that way if it's at all possible.

    Where did you find the scholarships?
     
  5. Alaskanteach

    Alaskanteach Cohort

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    A friend of mine did this.. he paid for one semester of school out of pocket, but took out a school loan anyway. He invested the loan into cds at a preset rate of return. He calculated how long it would take him to graduate, and set that date as the maturity date on his cd. Each semester after that, he used a student loan to pay for the semester. When he graduated, he cashed in the cds and paid off a HUGE chunk of his overall loan.

    Remember, cds acquire interest pretty much from go, but student loans are usually interest free until you are out of full time school- then the interest starts accumulating..

    Pretty smart, and he didn't even major in finance.. he's a firefighter.
     
  6. alilisa

    alilisa Habitué

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    Have you looked into loan forgiveness? I just finished my master's and every one at my school is going to have $5,000 forgiven. If you are teaching in sp. ed, math or science, you can have $17,000 forgiven. You still have to take out a loan but at least a part of it is forgiven!
     
  7. peggy27

    peggy27 Cohort

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    I did my masters in a cohort with my district. We got discounted tuition. Check with your district and see if they have any programs.
     
  8. Electron

    Electron Rookie

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    My MS was paid for by the University, partially with University funding and partially via Federal research grants. I got full tuition plus $20,000 per year stipend -- but obviously that's only for hard-science grad school though, so you probably can't get that good a deal in education grad school!! Loan forgiveness is an excellent idea, and putting loans into high-interest savings accounts is also an excellent idea. Unfortunately, you're probably just going to have to bite your lip and shell out. :(
     
  9. smalltowngal

    smalltowngal Multitudinous

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    The college had several scholarships available. I'm sure that you could look on the college's website to see which ones they have available.
     
  10. NJArt

    NJArt Comrade

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    When I got my masters money was tight... My school paid for about $800 per class, so about $800 came out of pocket per class. This is NOT THE best solution, but I got credit cards with 0% interest for a year or more, would put the full amount on there, and pay off as I could until I got reimbursed by the school. You could wind up getting into trouble this way if you aren't REALLY careful... credit can be a slippery slope. even though I didn't get hit with too much in the way of interest... (I would move the balance from 0 card to 0 card) The balance quickly grew because I wasn't careful.

    A MUCH BETTER way of doing it:

    My partner is now going for her masters and we are paying for it as we go. just really budgeting, scrimping and saving and paying the bill in full when the class is registered for.... about $1,500 per class. I have made a vow to try to live DEBT FREE. We follow the financial principals of dave ramsey... through his plan we were able to pay off the full 30K of cc debt (plus another 12K of other debt, mostly a car) in two years. The only debt I have left is my mortgage. I will now save for everything I buy, including my next car when the time comes. NO MORE LOANS OR REVOLVING CC DEBT. :)
     
  11. Amers

    Amers Cohort

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    Thanks for all the excellent tips and advice, everyone. I'm going to meet with an advisor at the college next week, and I'll ask about possible scholarships/grants available through the school. I'm also going to ask my campus mentor if the school does anything....although I kind of doubt they do in my district. My husband and I were hoping to use our savings to finish our basement, but I guess that can wait a little longer if it has to.
     
  12. janlee

    janlee Devotee

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    If you do end up having to get a loan under no circumstances get a private loan. The interest on private loans can skyrocket. Stay with government ones.
     
  13. Ms. I

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    I paid for most of my grad schooling. I also was the recipient of the APLE (which I was reimbursed for). For my undergrad degree, I had an unsubsidized Stafford loan. I just returned to school again to get my 2nd Masters & I got an unsubsiduzed Stafford loan. I'm considered a post-bac student right now because I'm taking some prerequisite courses I need first.
     
  14. TemperanceFaith

    TemperanceFaith Comrade

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    I am in a combined BA/Masters program, in which I am taking graduate courses along with the BA courses and will receive both at the same time, and I am receiving financial aid. There might be a way to obtain the funding by finding a similar program. I know you already have your BA, but it can't hurt to get another, and they counted all my previous undergraduate coursework so I entered the program as a Jr...in other words, I will have my BA/Masters in two years, rather than four.

    See if you can find a similar program and you might be able to get the funding you need.

    I also went on a website, collegefish, and applied for a ton of scholarships and grants and received quite a few. I am happy to say I have not had to pay for anything, including my textbooks, so far.
     
  15. TemperanceFaith

    TemperanceFaith Comrade

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    True, that.
     
  16. Ms. I

    Ms. I Maven

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    That's nice that you can do that. I don't believe the school I attended had that where you can work on both degrees simultaneously. I'm still kind of ticked that my alma mater didn't allow us to get a double major. Otherwise, I would have had a BA in behvioral science & sociology instead of just beh sci.
     
  17. Amers

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    Collegefish sounds interesting, but it didn't look like it would have aid suggestions for graduate programs. I might request a username anyway and look into it further just to be sure.
     
  18. Master Pre-K

    Master Pre-K Virtuoso

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    Aug 27, 2008

    Hey Amers! Good to see you! :)

    I started this current Masters in C&I last January. Found a flyer in staff lounge. Discounted price for teachers in certain districts. Now when I went back the first time, I found a lot of private, independent scholarships. But here is the trick, you can't have any type of loans or financial aid because the check will go to the school and they always apply it towards your account!! It is so dumb because you may want to take just one class for summer, and most programs make you take a minimum of 6 hours or 2 classes to get FA or loans. So, if you can find anything local...have them send it to you!

    Now, in this current program, I am sorry to say I am up to my $#@ in loans. My student loans are almost 1/2 my mortgage loan. I personally don't know any other way. If I never had a loan, I probably would not have a house or car.

    With my past job history and credit history, nobody would give me a dime at the bank or credit union. Student loans are so easy to get, it is crazy. They have been a lifesaver in more ways than one!

    I look at like this: Car loans are for temporary, depreciating transportation. In many cases, you can do without. Home loans are for the roof over your head. Yes, you can rent, stay with family or friends. But a school loan, that's an investment in you. That is something nobody can ever take away from you. I mean, not to think about it..but even if somebody tried to strip you of your teaching certificate, nobody can come to your house and take away that knowledge from your head.

    I've been out of work since May. Waiting on refund for student loan to pay mortgage. Started a new job last week. Won't see a check until second week of Sept. So, if I didn't have student loans, I would be cleaning out my bank accounts.

    a bit more than my :2cents:

    good luck Pal...
     

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