Student Loans/ Finding a Job?

[northernflight]

I got hooked on the notion of doing a thru hike two years ago and have been doing research since then to try and plan everything out and get a better idea of what I'm trying to get myself into. Right now I just graduated high school and am heading to college. My plan is to try and do my hike the year I graduate college in 2014. But I am having trouble as far as dealing with all the student loans I will be taking out and the debt I will have to pay off after college. If anyone else was in this situation how did you handle the loans? I feel like this would be the best time for me to go for this hike with what will probably be the period of fewest commitments in my life, I really want to go for it but I am just stumped on this one. Also was anyone successful in securing a job for after their hike and what did you tell potential employers? I figure I can always get a job at a ski area for the winter after my hike and than look for more of a career job but if I was able to land something at a good company, I know they'd be hard pressed to take me if they knew I couldn't work for 5 months.

[Appalachian Tater]

I got hooked on the notion of doing a thru hike two years ago and have been doing research since then to try and plan everything out and get a better idea of what I'm trying to get myself into. Right now I just graduated high school and am heading to college. My plan is to try and do my hike the year I graduate college in 2014. But I am having trouble as far as dealing with all the student loans I will be taking out and the debt I will have to pay off after college. If anyone else was in this situation how did you handle the loans? I feel like this would be the best time for me to go for this hike with what will probably be the period of fewest commitments in my life, I really want to go for it but I am just stumped on this one. Also was anyone successful in securing a job for after their hike and what did you tell potential employers? I figure I can always get a job at a ski area for the winter after my hike and than look for more of a career job but if I was able to land something at a good company, I know they'd be hard pressed to take me if they knew I couldn't work for 5 months.

I have no idea what you're majoring in but at your age you don't know for sure if you will want to do a thru-hike four years from now. You may want to go backpacking around Asia or walk the Pan-American highway or you may be involved in a start-up company or be so in love that you can't bear to be separated long enough to do a thru-hike.

So save your money to pay for a thru-hike or for whatever opportunities may come along. Just don't make the mistake of spending your whole life working from the moment you get out of college and never doing things like thru-hike that are much more enjoyable for most people. Allow yourself to be open to whatever happens or presents itself.

Of course, school loans may become payable on graduation, so that is something to think about. Sometimes if you do Peace Corps or something along those lines you can get a deferral.

[mcstick]

You get a 6 month deferral automatically upon graduation and can get deferrals or a forbearance fairly easily after that. The loans themselves won't be an impediment to your hike.

[mcstick]

I should add that you might need the cooperation of whoever is co-signing for you to get the additional forbearance or deferral. But even so, there is nothing unusual about not paying your loans for the chunk of time immediately following graduation.

[Tennessee Viking]

I was diagnosed with a learning disorder in middle school and verified again in high school. And TN's Voc Rehab paid my way through undergrad as long as I stayed full time and joined the school's tutor/LD program.

Depending on some states and loans, I had some friends who didn't have to start paying on their student loans until the were above a certain income bracket.

Also depending on the state and loan, if you get a teaching or government job after graduating you get a discounted rate.

Also check with independent studies and continuing education, you may be able to claim your hike as part of your studies.

[play_outside]

You're in exactly the same place I was 3 years ago. I'm graduating in December and plan to do my Thru-hike beginning in early Feb. this year.

I have two pieces of advice for you. First of all, apply for FAFSA every year. Depending on how much money your parents make, you will likely get grants and subsidized loans from the federal government. Second, have an idea of a career after college before you start college. Obviously do something you're passionate about, but pick a major where you will actually be able to find a job after college. I have taken out some student loans to finance my thru-hike, but am not very worried about paying them back because I have a pretty high paying job waiting for me.

[northernflight]

I defiantly have to look more into loans now, my only worry is not having a job when I have to start paying them all back. This is something I just really want to do, I cant say why but I'm hooked on getting out there.



You're in exactly the same place I was 3 years ago. I'm graduating in December and plan to do my Thru-hike beginning in early Feb. this year.

I have two pieces of advice for you. First of all, apply for FAFSA every year. Depending on how much money your parents make, you will likely get grants and subsidized loans from the federal government. Second, have an idea of a career after college before you start college. Obviously do something you're passionate about, but pick a major where you will actually be able to find a job after college. I have taken out some student loans to finance my thru-hike, but am not very worried about paying them back because I have a pretty high paying job waiting for me.


Unfortunately my parents make enough money for me not to get much of anything from FAFSA but not enough to pay for me. How did you approach looking for a job and what did you tell potential employers? I'm majoring in Hospitality Management and Marketing so I'll have a lot of companies I can apply too but I just don't have a clue about how to approach that process.

Thanks for the responses everyone.

[play_outside]

Your school will likely hold career fairs. Go to them even as a freshmen. Try to find internships during the summer. Your experience will be worth more than your GPA. Talk to any professionals in the field that you already know, they may be able to set you up with an internship. Keep your GPA high, many companies throw out candidates below a 3.0. Get into some extra curriculars that are relevant to your field so you have something to talk about in an interview.

Pretty much any bank or credit union can provide you with student loans. My best advice to you is to not worry so much about money during college as long as you are focused on a career. If you put in the time during college to stand out you will have no trouble paying back your loans after you graduate.

Don't get too nerdy though. College is the time to stay out until 4 AM on a Tuesday night, spend money you don't have, and get all the crazy things you want to do out of your system before you can't do them anymore.

[flemdawg1]

How did you approach looking for a job and what did you tell potential employers? I'm majoring in Hospitality Management and Marketing so I'll have a lot of companies I can apply too but I just don't have a clue about how to approach that process.

Thanks for the responses everyone.

Best way to stand out in your field of study is get experience. Look into getting a desk clerk job at a hotel.

[bdpalace]

Another option would be finding a job in the school's alumni association. You will have an opportunity to make some extremely influential alumni and when they are looking for new hires, they're more likely to hire someone they know from their alma mater than a stranger off the street.

[jesse]

Do your hike now. Do school and career later. You will never be as free as the summer after HS.

[The Solemates]

yea go sign up for a loan and then procrastinate in paying it off :rolleyes:

no wonder America is littered with foreclosures

[Rocket Jones]

Carefully examine each and every student loan you have. Some you will be able to consolidate, some you won't. Some will allow you to delay the start of payments, some won't. Some will allow you to pay 'interest only', some won't. I'm speaking from experience here, from dealing with my daughters' education.

Student loans aren't free money. Like any other loan, the lenders want their money back, and are under no obligation to ease the repayment terms you agreed to when you acccepted their money.

[JAK]

I would recommend doing alot of hiking while attending university. It might be mostly weekend hikes, and section hikes, but if you can swing it you might be able to go one summer without a summer job, perhaps the summer before your final year, and then get to work right away upon graduating. You will be further ahead. Also, it might make more sense to stretch out your degree to 4 or 5 years rather than 4 years, by take semester off here or there, for some extra work time, or hiking time. It will give you time to digest alot of what you are learning and you will maintain better grades and avoid some bad marks or repeats, if you do it right.

[play_outside]

Another piece of advice:

Definitely don't feel like you have to graduate in 4 years. It's taking me 5 1/2 years but it has allowed me to keep my GPA high, have 4 internships before graduation, and study abroad. I am planning my hike for after graduation and have worked with my employer to wait to begin my Job until mid-July. I am not worried about repaying my loans because the job is pretty high paying. If an employer really wants you they will be flexible on your starting date and whether or not you want to take some time off between college and career.

The only downside is that if I did graduate in four years I would be a year and a half ahead in my career. Not only would it be an extra year and a half of experience, but it would be another $120,000 that I now won't have.

[sbhikes]

I'll be somewhat contrarian here. My advice: Do not go to college out of high school. Do not take out student loans if at all possible.

Go to community college and work on your general education requirements. Saves a LOT of money. Work while you do this and pay your way through your GEs as much as you can.

Take your time on the GEs and do not go on to University until you are 25. Then your parents income will have no influence on the kinds of grants and loans you can get.

Get as many grants as you can. You do not want to start your life with huge debt. Get excellent grades so you can get the Pell grant.

If you do it this way, you can thru-hike any summer you wish during the time you are slowly working on your GEs as long as you have the money.

Trust me on this. It is how I worked my way through college and it has not been a hindrance in the least to my life. I got through university with a $3000 loan. In today's market, it probably would have been a $10,000 loan. Still easily paid off compared to the nightmare most people give themselves.

[DapperD]

Do your hike now. Do school and career later. You will never be as free as the summer after HS.I would pretty much agree with this. You are young only once and if you truly have the burning desire to do a thru-hike then that would be the best time to go in my opinion. Once your life becomes more complex, you will have many more responsibilities, and then you may not get the chance until you reach your retirement years. And by then it will be unknown wether or not you will be physically or emotionally able to.:-?

[play_outside]

[QUOTE=sbhikes;1033925]I'll be somewhat contrarian here. My advice: Do not go to college out of high school. Do not take out student loans if at all possible.

Take your time on the GEs and do not go on to University until you are 25. Then your parents income will have no influence on the kinds of grants and loans you can get.
QUOTE]

I would have to disagree. Going to a four year university will open more doors immediately. There will be more scholarships, internship opportunities, study abroad opportunities, student orgs, etc. available.

For example, going to university directly allowed me to start working in a laboratory during my sophomore year that has agreed to pay part of my tuition. Also, the exposure to a larger number of companies allowed me to secure a paid internship the summer after my sophomore year. Going to a larger university right away may seem more expensive at first, but it allows you to get your name out there while you knock out your GEs instead of being unknown when you start your junior year.

Also, waiting to start college at 25 will cost more down the road than it will save in the short term. For example, lets say a college grad makes $60,000 per year and invests 6% of their salary into their 401k with employer matching. If the 401k averages a 7% return, the person will make about $300,000 more (assuming retirement age of 60) by starting to dump that money into their 401k at age 25 rather than age 29. That extra $300,000 down the road surely trumps the $7000 you may save in the short term.

[sbhikes]

I hope young people right out of college are ready to step into a good job with a 401K and start putting in the max. A lot of them do not do this. It is good advice, though, but I still think you are better off starting your life without a huge amount of debt hanging over your head.

[skinewmexico]

The only downside is that if I did graduate in four years I would be a year and a half ahead in my career. Not only would it be an extra year and a half of experience, but it would be another $120,000 that I now won't have.

Oh no, opportunity cost raises it's ugly head. Just think what $50k of that invested now would have been worth in 40 years. My advice to the OP would be to work your ass off all summer and live cheap to minimze your student loans. Don't run up student loans just so you can live your parent's lifestyle.

Oh..........and go hike now.

[Trailbender]

I have about 20K in student loans currently. I have been attending college 3 years. I did a section hike in GA last year, and I couldn't get the AT out of my head. I became bored with school, couldn't focus, and failed a couple of really easy tests. I made up my mind during a class on Monday, walked into my advisor's office, and said, "I'm dropping out of college and thru hiking the AT, see you next year."

I am currently in Maine, with 256 miles left, and though some of the days have been hard, I do not regret my decision. I will go back to college in the spring focused, clearheaded, and ready to hit the books. I will simply tell my loan companies I am going back to school, but that is for when I get back.

Do not become a slave to money. Doing what makes you happy is the most important thing in life. To me, when I worked, money represented me spending time doing things for other people, so I was very frugal and did not waste it.

[DapperD]

I have about 20K in student loans currently. I have been attending college 3 years. I did a section hike in GA last year, and I couldn't get the AT out of my head. I became bored with school, couldn't focus, and failed a couple of really easy tests. I made up my mind during a class on Monday, walked into my advisor's office, and said, "I'm dropping out of college and thru hiking the AT, see you next year."

I am currently in Maine, with 256 miles left, and though some of the days have been hard, I do not regret my decision. I will go back to college in the spring focused, clearheaded, and ready to hit the books. I will simply tell my loan companies I am going back to school, but that is for when I get back.

Do not become a slave to money. Doing what makes you happy is the most important thing in life. To me, when I worked, money represented me spending time doing things for other people, so I was very frugal and did not waste it.Congrats on your hiking success! You are right about money. It's like the old adage, "A penny saved is a penny earned". Problem is, with trying to pay a morgage, raise a family, pay all the bills, etc...it's something we all have to make in order to survive. We don't though need a lot of extra unessentials, so if we choose to live our lives in a less materialistic way, we can do with a lot less and have more time to persue the things that really matter and make us happy.

[Trailbender]

Congrats on your hiking success! You are right about money. It's like the old adage, "A penny saved is a penny earned". Problem is, with trying to pay a morgage, raise a family, pay all the bills, etc...it's something we all have to make in order to survive. We don't though need a lot of extra unessentials, so if we choose to live our lives in a less materialistic way, we can do with a lot less and have more time to persue the things that really matter and make us happy.


That is true. That is another reason I choose to remain single. No marriage, no kids, no mortgage. My time is mostly my own. Not bashing anyone who chooses it, but it is not currently for me. Who knows what the future holds.