Jildo Goes to College

So, there's one small, eensie, weensie detail I forgot to mention when I disclosed how broke I am. Aside from only having $748.49 in my savings account, I am also starting business school in the fall. Yah, I know... I told you already that I'm a dumbass. I thought to myself Jillian, you are a smart, bright, resourceful woman, building back your savings account will be a piece of cake... why don't you make it a little interesting? Really challenge yourself.

New challenge: recover savings while paying approximately $40K in tuition a year. HA-WESOME. God, you are so happy you are not me right now.

The reason I mention all of this now is because yesterday I drove to La La Land (Los Angeles- for all you non-ca readers) to meet with my adviser.  Until you meet with your adviser you can kind of pretend that its not really happening. I mean you tell people you are going to business school and you feel really proud of yourself, but it doesn't quite sink in (the major debt, time commitment and lack of social life) until you meet with your adviser. So, it shouldn't have been a surprise when I met with my adviser, that shit got real. Yup, I kid you not, I'm sitting in my adviser's office, he starts going over tuition and this huge mastiff just comes in and takes a dump on the seat next to me. Weird, huh?

They tell you once you have been admitted to business school to analyze your financial situation. See where you can save money to minimize the amount of loans you have to take out. Now, I realize that I am currently broke, and thus, a dumbass. But, I am not stupid (is there a difference? I think so). Business school is not an escape from my problems. I can't just take out $79K in loans. That would be moronic-- I have to pay this shit back and I'm not about to wreck my credit.

I sat down yesterday to really assess the situation. Tuition is $79K total. I don't have money saved to pay for school, but I will be working full time, so at least I will be able to pay for my living expenses.  What does that bring tuition down to? Hmph- still at $79K huh? Time to get creative. Ok, $79K-- Pepperdine has offered me a $9K scholarship for the first year, for being a smarty pants (if they only knew the truth). New total $70K. Alright, now we are getting somewhere.

After staring at the numbers for an hour, I come to the conclusion that there is no way around it. I have to take out loans. First, I apply for the subsidized loans, because I know that interest is where they get you. The government offers me $2,833 a trimester. My first trimester is the most expensive at $12,654. So less the $3K they will disburse for my scholarship and the $2,833 in subsidized loans I'm looking at paying just under $7K out of pocket.

*Pause*

HAHAHAHAHAHAHA.

Yah. Not going to happen... even if they do let me pay in installments. Ok, so next I apply for the unsubsidized government loans. These are the awesome loans that start accruing interest the moment they are disbursed... tricky little bastards! They are willing to give me $4K a trimester. My new out of pocket balance is $2,820.67. Still sucks, but I should be able to manage, if I don't eat or ever go out-- and definitely no more alcohol. MRRR.

I stare at my computer screen. Pepperdine has also offered me the Grad PLUS loan. This is the dirtiest of all the loans-- sure they offer me a whopping $8K a trimester, but it has a fixed interest rate of 7.9% and like its cousin the unsubsidized loan, the PLUS loan starts accruing interest right away. The more I look at my screen the more it keeps grinning at me... "you know you want me, you wouldn't have to sacrifice any of the luxuries you have become so used to." But, the more it keeps grinning at me and trying to seduce me the more pissed I get. The Grad PLUS loan is a f***ing liar. You take out the Grad PLUS loan and you'll end up paying back so much more in loans that its not even funny.

When accepting or declining your financial aid you just click a little box. It seems so anti-climactic. Ok, so for the financial aid I accepted, I was fine with the click and done. But something about the Grad PLUS loan made me want to have a physical box that I could totally womp on and KILL to decline the oh, so "generous" offer. I settled for the click-- but I clicked with authority. DENY!

Jildo, over and out.

P.S. More strategies for paying off school to come. I have something a little crazy and drastic up my sleeve (no I'm not going to whore myself out. geez.), but I have to think about it a little more.

**Also, in case you were wondering, I didn't spend any money today... haha. As if its really going to help now. I also drove all the way to LA and back with no air conditioning... because I heard that air conditioning uses up more gas?