Sunday, August 31, 2008

Taking My Daughter to College, Part 1



August 29th, 2008



I just got back from taking my daughter Kat to college. She’s been home with me for the last two years, since she dropped out of Texas Christian University (TCU) after her dad died. If she hadn’t dropped out, she would have graduated last May, when my son Chris did. (It took him 7 years to graduate because he took small course loads or skipped semesters completely to help me with his dad while Hugh was ill.) While Kat was at home, she did take some classes at Houston Community College, and she also worked a year in a Christian bookstore. When she decided it was time to get back out on her own, she wanted to start fresh at a new college, so she chose a state school in a small town.
Kat and I drove up in separate cars this past weekend, so she could have her car with her and I could help bring her stuff and get her settled in. Kat is living in a ten-story dorm linked to another ten-story dorm by a lobby. In other words, a lot of kids live in these two mammoth towers. Luckily, many of them had already moved in, since the dorm had been open for a couple of days. Unluckily, many of them were moving in at the same time Kat was. It was kinda crazy.
For those of you who are lucky enough to have missed the experience of Texas in August, I will just tell you that, because of the heat and the humidity, the newspaper said that it felt like between 101F – 103F all weekend. In addition, the humidity made it feel as if I was in a large kettle of soup. Yuck! I’m somewhat used to it, since I’m from Houston, but moving a kid into a college dorm when thousands of other parents are moving thousands of other kids into the same college dorm makes it extra sweaty. That’s the only word for it. I thought about using a more genteel word, but “sweaty” is the one of the words that sums up my weekend. The other word is “exhausting.”
In addition to the weather, the AC was not working in my motel room when we checked in about 9 p.m. on Friday night. The motel was booked solid, as was every other motel in town. It took about an hour before it got fixed, because we were so brain-dead tired that we didn’t even call the front desk for about 30 minutes. We just kept thinking it would get cooler, but it didn’t. The people were very nice and fixed it quickly and even gave us a large fan in addition. I think they were worried I would have a heart attack or something. I get very red in the face when I’m hot, and after a day of packing Kat up and driving 3 hours, I was tired. It was not a pretty sight. Thankfully, the AC worked fine after that.
Saturday we spent getting her moved in, which included multiple trips to and from both cars. Luckily the dorm was renting out carts to help with the loads. It cost $10 - $12/ hr for the carts. I would have paid twice that. Some of the carts were clearly marked “WalMart.” At that point, I didn’t care that someone was making money off of stolen carts. They were probably going to take them back to WalMart after everyone moved in.
The best part of the whole time was the free, cold water that volunteers were distributing. They probably saved lives by doing that. I’m not kidding. Boomer parents, myself included, aren’t all in the best shape. I’d recommend that public service to all alums who live in their college towns. It was the best public relations I’ve ever seen.
Kat’s dorm room is minuscule. The two dorm towers are round. They look very cool from the outside, but because the towers are round, the rooms are shaped like a slice of pie with the tip cut off. Dorm rooms are usually smaller than kids expect, but when they are pie-shaped, they are even smaller than most small dorm rooms. Her roommate had already bunked the beds, which helped, but some closets are bigger than Kat’s room. Well, that might be an exaggeration, but not by much. You can see from the photos at the top of this blog that there isn't much room, especially for two people. Good thing Kat isn’t claustrophobic.
I’ll write about the rest of the trip next time. I’d love to hear from any of you about your trip to take a child to college. Come on, share. It’s such a fun trip. :P
Blessings,

Bonnie

Friday, August 29, 2008

Student Loan Update + Wedding News

I looked at the date on my last blog entry, and can’t believe it’s been so long since I’ve written anything. So many things have been happening…

On a personal note, the most important thing that’s happened to me is that my son Chris got married. It was a beautiful wedding and my son and his new wife Nicole are very happy. Here’s a photo of the lovely couple.

Nicole and Chris
Nicole and Chris

In addition to my son’s wedding, I’ve been writing two ebooks on financial aid for students, as well as working on some other projects for Christian College Parents. The writing is going well, but it hasn’t left much time for other things, like my blog!

Several things over the last few weeks have caught my attention, however, and I wanted to share them with you.

FIRST THE GOOD NEWS:

President Bush has signed legislation to help parents and college students with their student loans.

HIGHLIGHTS of the College Cost Reduction and Access Act:

· Monies received by institutions from selling their student loans must be used to provide more loans for students

· Temporarily removes medical bill payment delinquencies up to 180 days as a reason to reject parent applying for PLUS loans for their children’s tuition

· New subsidized Stafford loans interest rate dropped to 6%

And that’s just the beginning!

· The new maximum Pell Grant scholarship is now $4,731, up $490 from last year. This is the first in a series of increases to eventually raise the grant by $1090 by 2012.

· The interest rates for unconsolidated student loans taken out before July 1, 2006 has now dropped to 4.21 percent. You can get a fixed rate of 4.25 percent and combine all your student loans into one payment by getting a consolidation loan now. (Those loans taken out after July 1, 2006 won’t be eligible for this rate because they are at a fixed rate of 6.8 percent.)

· Even if your local bank has stopped issuing consolidation loans, you can still get one through the federal government’s Direct Loan program.

THE NOT-SO-GOOD NEWS:

Although government undergraduate student loans should be available to people who have filled out the FAFSA and qualify, private loans and loans through the Parent Loan for Undergraduate Students (PLUS), available to parents and graduate students are harder to come by.

Why is that?

· PLUS loans require a credit check, something the undergraduate student loans through government programs do not. Higher credit scores are required for these loans as a result of the subprime mortgage crisis.

· Credit score requirements for private loans will be even higher since they are not guaranteed by the federal government.

· Lenders make more money on loans for four or more years of college than they make on loans for two years of college.

This means that people with less than wonderful credit scores, low to moderate income, and/or plan to attend trade schools or community colleges will be the ones that have a harder time paying for college.

These are the very people who need the most help. If we want an educated citizenry with the knowledge and skills needed in today’s world, we need to make education easier to get, not harder.

If you are still trying to figure out how to finance this fall’s college education, here are some things to try:

· Contact your financial aid office. If you have not filled out the FAFSA, ask them if your child could still get government aid, if you did fill it out now.

· Ask the financial aid office if any scholarships or grants have become available that your child might qualify for.

· Ask if your child could get in the work/study program.

· Ask them if you could pay with an installment program over several months.

· PRAY

I don’t guarantee that any of those options will result in new funding, but it doesn’t hurt to ask. You just might be pleasantly surprised.

What about you?

Have you been affected by the student loan crunch? If so, please leave me feedback on how you’re coping with the situation.

Blessings,

Bonnie