[SR-71Panorama]

I live in a suburb of Maryland, and went to College near BWI airport in Baltimore. My parents payed tuition (thank god) and i payed for things like books, expenses, etc. I worked when I had schedules that allowed it (some semesters I couldn't, due to class schedule, and/or workload). I earned about $6.50 an hour. In Maryland, the average fast-food meal costs about 6-7 dollars. A box of cereal is about 5 bucks.

So if it was a semester in which I worked, than I could afford to get food. Otherwise I would have to eat whatever my parents felt like buying.

Then there is Headfi.org; not good for wallets of grown ups, REALLY not good for wallets of college students. (Yes I know this is a luxury, just making a point)

So yes, many college students are poor. Were I not a dependent on my parents during that time, I would easily qualify as poverty level. And that is with my tuition being payed by someone else.

Many students cant get jobs that pay much over minimum wage, due to skill, schedule, or location. And those said jobs often only add up to 20-30 hours a week, tops. So bi-weekly you are getting like 200 bucks, maybe 250. If you happen to live near an urban area, you are further up the creek.

Oh and the school I went to had cops sit and watch you come to complete stops at stop signs, etc, just foaming at the mouth to give you a ticket. Supplemental income for the school. This was perhaps the most irritating thing about the place.

So in my experience, you have to be willing to go through half a decade of B.S. if you want to earn a decent wage later on. YMMV.

 

[RockCity]

I have to pay $500 for rent and around $180 for food every month. I think us college students tend to be more frugal once we figure out our living costs. I try to save money by reading the textbooks at the library or borrowing them from friends rather than buying them from the bookstore. I save money on food by cooking real food. Finally, the biggest help I get is from my mom, who pays for most of it so I don't have to dig into my pockets.

 

[sachu]

I have 15k student loans and will go upto 20k by the time i finish grad school.. With the $ depreciating fast, it will be tougher to pay off my loans in India.

 

[Capital R]

I've got a job that pays about $8ish an hour plus any tips we might get, and for the most part it is just enough for me to make ends meet right now, what with tuition, rent, food, and books. Buying groceries instead of eating out is the best way to stretch the food dollar, especially if there's a Costco nearby. Gas really eats the money up, though.

 

[Joeywhat]

When I turned 18 my dad told me I had to move out...managed that for about a year, then had to move back in because I was broke. Finally got a better job, making $2000/month, and I still can't afford community college. I barely get by as it is now, car insurance, apartment rent, food, utilities...unless mom and dad are paying for part of it, it's not easy living on your own when you're young.

But from what I've seen all the "cool" kids have mommy and daddy buy them brand new cars, pay for all their schooling and other related expenses for that...hell, one of my friends went to colorado for school, just so he can ski more often...and his parents picked up the bill.

So it's probably a good 50/50 mix between kids who are really dirt poor, and those who just think they're dirt poor.

And as someone said above, don't blow you're money on stupid stuff when you're young and dumb...I'm lucky enough that I realize when I'm spending too much money before it becomes a problem, so I haven't gotten into debt yet...but it's EASY to do. Credit cards will get you in the end...and paying 20% interest (yes, that's what I pay when I hold a balance) isn't fun.

 

[Quaddy]

round near me, they dont seem the stereotyped poor student, maybe its loans and grants they are living off, but they buy laptops, software, music, the latest clothes, all the latest bits and bobs, go out most nights

strange...i guess thats called an education!

 

[Kirosia]

I pretty much rely on financial aid to cover my school expenses. (We wouldn't be able to afford school otherwise) I go to community college so I only have to pay about $2500 per semester including books. My campus is located only like 10-15 minutes away from my house, so I just take the family car or get a ride. I eat mostly at home, and the groceries are paid for my parents. I do envy the kids with the balls to become independent, but I'm not ready yet (financially or mentally). Do I feel bad for it? Sorta... bit shameful that at my age I still have to lean on family... but I really don't have much of a choice.

 

[filipelli]

Well I realize that I do have a knack for buying big...but these things are investments for happiness, which will in turn help me in school. How can you do well in school if you are miserable?

That aside. I make sure that there is a balance. If I do well in school, then of course I can get rewarded. It is all about money management, saving, and also investing in the future.

 

[chesebert]

Quote:

Originally Posted by filipelli /img/forum/go_quote.gif Well I realize that I do have a knack for buying big...but these things are investments for happiness, which will in turn help me in school. How can you do well in school if you are miserable? That aside. I make sure that there is a balance. If I do well in school, then of course I can get rewarded. It is all about money management, saving, and also investing in the future.

I agree!! maybe I should really start thinking about that Remiyo CDP I have been eyeing

yes its expensive..but it will help me in school.

.....investment for happiness....yes..I like that...what a great way to re-frame the issue of those expensive 'investments'

 

[oicdn]

I know people who have almost a full ride, and are still struggling going to OSU. It's crazy.

College is a business, and they've unfortuneatly sucked most of america into it. You don't need an education to be wealthy, or even live a decent lifestyle. That's a HUGE misconception.

I personally know SEVERAL independantly wealthy millionaires who never saw a day of college. It's all a matter of how bad you wanna work for the man, or BE the man.

I myself, don't personally have the personal drive they all have. They all have psychotic amounts of drive and focus. I can barely focus to deal out a hand of poker, lol.

 

[chesebert]

Quote:

Originally Posted by oicdn /img/forum/go_quote.gif I know people who have almost a full ride, and are still struggling going to OSU. It's crazy. College is a business, and they've unfortuneatly sucked most of america into it. You don't need an education to be wealthy, or even live a decent lifestyle. That's a HUGE misconception. I personally know SEVERAL independantly wealthy millionaires who never saw a day of college. It's all a matter of how bad you wanna work for the man, or BE the man. I myself, don't personally have the personal drive they all have. They all have psychotic amounts of drive and focus. I can barely focus to deal out a hand of poker, lol.

success depends on several things in order importance IMO: luck, talent, IQ, money, family.

if you are talented or have high IQ, you will probably go to school, so going to school != success, but most successful people went to school, or could have gone.

<disclaimer> we are assuming success = people's annual salary/profit here; in addition the salary/profit is at least in the 7 figures. </disclaimer>

 

[AudioDwebe]

They should be. I think college, along with an education, should be about learning the value of a dollar. Students should either be broke, or near broke, and learn how to make ramen or mac 'n cheese 50 different ways.

Unfortunately, this lesson is missed by many.

 

[MrSlacker]

I started college this year and been thinking a lot about this as well. I go to a City University. It is not a Community College, it is a great school and if you are NYC resident, city pays for a lot of it. It costs me $2000 a year for 15 credits. I live at home and commute every day. I got a lot of financial aid so I did not have to pay for tuition. I only got the books I felt I really needed. My parents pay for rent, food and bills. However, I pay for food when I eat out. On my short days I take a sandwich from home to save money. I also got packs of juice from Costco instead of buying drinks every day. There are kids I go to school with who are in exact same situation (parents pay, financial aid, etc) and say they are broke. I work in the summers and always have cash. I can still afford all of my toys and just got myself a $300 phone and I am $0 in debt.

So to sum it all up, it depends on the person. I save my money and don't waste them on useless things and this enables me to buy whatever I want to.

 

[uzziah]

Quote:

Originally Posted by luckypictures /img/forum/go_quote.gif I have $125K in student loans. Does that answer your question?

how? where do you go? i'm hoping this is med school or the like

 

[appophylite]

I guess I had an easier 4 years then. I chose to stay in state and go to state college when I realized that I had all of the same classes at my college as at bigger name colleges in CONUS and also in many cases, had more labs for my degree (EE). That alone saved a bundle. I put in the time during High School even though I was bored as hell and got a scholarship that just barely covered tuition. I moved out of my parent's place and got a government subsidized apartment with a roommate who didn't work at all which meant I had a rent around $300/month. Food was about $200/month and since my roommate paid half each month, I was out $250 every month and was working at 20 hours a week for $9.50 with one of the university departments. The only debt I had was about $4000 which I borrowed from my parents for books because I had rolled the majority of my savings into a CD before college began so I couldn't get to it. I've already paid of 1/4 of that debt and expect to be debt free by December. I actually finished college with a decent amount of cash in my pocket.

My sister is even luckier. She got scholarships galore going into college. Considering that she came in with about 50 college credits combining 4 years of AP classes and college summer sessions, she'll be out of college by next December. One scholarship alone (Macent) covers her tuition, Books, Room/Board and Food expenditure which means all other scholarships are pocketable money for her. I guess this benefits her cause she's gonna need all that money when she starts med-school.