Blair loves people. Throughout high school, she volunteered at the Red Cross. During the summers, she worked at social service organizations and saved for college. She has two years to go, and she’s out of money. She’s going to a state school. Even so, the two-year tab for tuition, room, board and books is nearly $20,000. She can borrow that sum through low-interest student loan programs. She knows about Dave, and has asked you what he might advise her to do.
EDIT: Remember that savings for short-term (less than 5 years) and investing is long-term (more than 5 years)
Apply for FASFA, start a money market mutual fund, and get a job, or multiple part-time jobs to help pay your way through. Also, she could live at home and commute depending on how far of a drive it would be.
ReplyDeleteWhat is a money market mutual fund?
DeleteI would say invest as much as you can, you can always work night shifts, and of course, during the summer. She doesn't have to stay in her board room, she can always stay with her family.
ReplyDeleteHow is she going to invest when she needs to pay her tuition within the next 5 years?
Deletework, invest, NEVER BORROW... EVER try to limit your expenses as much as possible
ReplyDeletetravis
Invest in what? And how is she going to invest when she would like to complete college in a reasonable amount of time?
DeleteDon't borrow money! Instead, get a job. If any family lives nearby, she can stay with them, too.
ReplyDeleteAutumn
If she hasn't received any scholarships, she could look into applying for any of those she would qualify for and she should definitely get a job or multiple jobs if that's possible. It would be best to avoid any student loans and if that means taking a year off from school, maybe that's what she needs to do.
ReplyDeleteI think that it would be a good idea to start saving not investing. This is because she has only five years or less this is not the right time frame for investing. The best idea would be to try to get some grants or working for the money
ReplyDeleteadam
You definitely don't want to borrow money so it looks like you'll be working hard for a while. You can also see if there is anyway that you can get any kind of scholarship.
ReplyDeleteeyezik
She should never borrow. What she needs to do is take some time off of school for a year, then save her money, apply for some scholarships, and get a job or two.
ReplyDeleteShe should not borrow money, take a year off, try for a scholorship, get another job, whatever works for her to get the money she needs up front.
ReplyDeleteShe should most definitely not borrow money. She won't like this advice, but she should keep on working as much as she possibly can. She should try to find a good paying job, or jobs. If she hasn't already, she should apply for different scholarships, even if they don't sound like she could qualify for them or if they don't provide a lot of money.
ReplyDeleteI would first find a job and and find a place to stay. It could be with family or friends.... but she should NEVER borrow money for any reason!!
ReplyDeleteapply for a scholarship and get a part time job never borrow money!!
ReplyDeleteFirstly, don't borrow, get a job. Second, if family lives close, she should stay with them.
ReplyDelete