New here- worried

iVillage Member
Registered: 02-17-2008
New here- worried
10
Sun, 08-17-2008 - 8:59pm
I am new to this board. I am a teacher, second career. A work related injury during my last career forced me to make a change and I decided I wanted to make a difference. So I went back to school, during which my son started having seizures and was diagnosed with epilepsy. I am divorced so I am still his sole support at age 19. He was able to enroll in an online college this fall so that I can keep him insured, his meds are over $500/mo. I quickly learned after becoming a teacher (at age 46) that the only way to get a decent raise was to get another degree. Well, I am 51 and went back to school twice for a masters and an education specialist degree (Graduated with a 4.0 in both while working full time). Between those and the original bachelors I owe about $90,000 in student loans. I also have about $11,000 in credit card debt, a car payment, a house payment, and I make about $46,000 yr. I lost money on a home sale a year ago which depleted my savings. I have no equity in the new home which has a lower payment. I have cut things to the bone and costs just keep going up. I read Suzie's book and I can't get my CC companies to lower my rates, no one will give me a new card either. I am scared. The student loan payments will begin again after the six month grace period, in February. The fact that you don't pay on them while in school was another reason why I stayed in school. I really need suggestions. I already received the $5000 off from working in a low-income school for 5 years. I am so disgusted with the profession at this point mostly because of the low pay despite the tremendous amount of education I have that I am thinking about changing careers. That would mean more debt. Any advice will be appreciated.
iVillage Member
Registered: 04-26-2007
Sun, 08-17-2008 - 9:23pm

The only thing I can help with is the CC debt. Look into Money Management International. They are mentioned in one of Suze's books and on the Quicken software. They can help with negotiating for you with the CC's to get a lower int. rate/payment. You pay MMI instead of the cards. Look them up online. They may also be able to help with the student loans, I'm not sure.

Kim

Photo Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at Photobucket

Photo Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at PhotobucketPhoto Sharing and Video Hosting at Photobucket
Photo Sharing and Video Hosting at Photobucket
iVillage Member
Registered: 11-17-2007
Sun, 08-17-2008 - 9:37pm

I don't know if anything I will say will help you.

iVillage Member
Registered: 03-17-2003
Mon, 08-18-2008 - 12:19am
My doctor used to fill up a sack with free samples for me when my finances were tight.
iVillage Member
Registered: 05-09-2005
Mon, 08-18-2008 - 1:31am
Hi,
Hopefully your insurance is covering the $500.00 per month of your son's medications. If not, I'd ask the doctor for meds that are covered. Sometimes they really are the same, just different brands.
I was just looking at the student loan forgiveness site -- if you are a special education teacher at elementary or secondary school you are eligible for loan forgiveness of $17,500 and if you are a math or science teacher at secondary school you are also eligible for the $17,500.00 loan forgiveness.
I would go back to your student financial aid office at your university and ask them what other loan forgiveness you might be qualified for. Nothing ventured, nothing gained!
Clearly, you need some additional income. You are probably already working during the summer.
Any thought of possibly renting a room to a student? I know that that might not be what you want to do because of privacy concerns, but if you could get a college student through a local college's housing office, it might not be to bad.
Hopefully the tuition for your son's online courses isn't too high. You don't say what state you are in, but in California the tuition for the Junior colleges is very low, and some of them have online courses. Hopefully your state has something similar.
As far as the student loans -- there are different options for paying -- you can stretch out the repayment time which lowers the monthly payments -- you'll need to find out the options.
You might consider some after school jobs at Sylvan or Kumon or some of the other student tutoring companies. Just to bring in some extra $$.
Also, and this has nothing to do with education per se, but H&R block are advertising training courses now for folks to be hired as tax preparers.. . .
What other careers are you considering, and how will you pay for the training? You might consider nursing -- RN program at a Junior college is 2 years -- you would defer the loans, and make a good salary on completion.
If you want to post a budget, folks here are good at seeing extra ways to bring costs down.
Hugs,
Megan
Avatar for 2locachicas
iVillage Member
Registered: 05-14-2003
Mon, 08-18-2008 - 10:06am
If your son is 19 with epilepsy could he get disability? Could he get on medicaid
iVillage Member
Registered: 01-05-2006
Mon, 08-18-2008 - 12:56pm

Try this link here on IV, it has info about where and how to get medication assistance.


http://yourtotalhealth.ivillage.com/medication-assistance-resources.html


Hope this helps you some.



Powered by CGISpy.com

iVillage Member
Registered: 08-29-2006
Mon, 08-18-2008 - 5:27pm
Congratulations of the Gold Medal!!!!!!!!
iVillage Member
Registered: 01-05-2006
Mon, 08-18-2008 - 7:21pm

Thanks I wish I could have watched, but they dont televise the shooting events, just that worthless stupid beach volleyball.



Powered by CGISpy.com

iVillage Member
Registered: 02-17-2008
Mon, 08-18-2008 - 7:57pm
I want to thank all of you for your prompt assistance and ideas. I have to explain one thing first of all: I can continue to cover my son on my insurance as long as he is a full time college student up to age 23. So I get his meds with a copay at about $50.mo. I have been stressing his enrollment and happily today he started classes online. I have been checking into some off the suggested websites and have considered a part-time job. I am in GA and we work almost year round. We have about one month off in the summer and I use that time to recuperate from the long stressful days. I usually put in a few hours extra at work before going home and work grading papers/writing plans until well past what should be my bedtime. The summer job is not really an option. Since I changed districts this year to work closer to my home I waiting for my first check at the end of this month to go to a Credit Counselor. I went 5 years with a district that did not pay into Social Security so I have no idea what my take-home pay will be. Again, I want to thank all of you and please keep the good ideas coming!!!
iVillage Member
Registered: 08-29-2006
Tue, 08-19-2008 - 1:04pm
Ugh!