American Finicanal system sucks!

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I’m 21 years old, I’m white, I’m straight I don’t have any options available to me.

Let me elaborate, I’m a college student who (because the state sucks for work) whose only had a job here in Lansing 6 months ago. I have never been approved for a CC nor can I open a Checking account.

I’ve been trying to get approved for student loans so I can pay to live and go to school. I’m falling farther and farther behind, my bills are always late because I can barely afford to pay them all. I haven’t eaten in 2 days because I’d rather keep my electricity on.

I work 30 hours a week and go to school full time, and my grades are suffering. I’m trying to sell that Fiero so that I can pay off my past due bills, but that’s not selling and I have no other real chance of getting my head above water.

Now why are no options available to me? Well because I’ve only been employed for 6 months, no bank will give me even a cosigned loan. Because my parents make over 150k a year FAFSA wont give me any money, and because my parents want me to learn how to make it in the real world they wont bail me out.

SO any one have any ideas? Before you say cut off extras, I have to have electricity, I have to have a place to live, I have to have a car (no public trans reaches me), and I have to have Internet to research papers. I don’t eat out; in fact I don’t eat a lot.

I’m at witts end here guys...is any one a bank loan officer that can give me some pointers? My credit score is 590, at 600 my bank will let me open a checking account... all they have given me is one of those loans where I give them 400 and they loan me 400 and as i pay off the 400 they give me back my 400 back at the same rate... but with this thing i wont have a score of 650 for another year... and they want 700 before they will give me a loan.

Ill be honest... yes I’ve made bad financial decisions in the past... even recent past... and I’m paying for them now... so I’m a little worried.

posted by  TheFieroKid

maybe you should try managing your time differently. Next semester taking only mwf classes work your 30 hours at nights of those days and get another job to have for tues thursday and weekends. You don't actually have to have internet because the campus has it and you can go their to research your papers. Maybe cut all your bills except water and electric. From the way your story is going, it doesn't seem like you can hang on for a lot longer. So in a year your credit is not going to be 650 as you will not be able to pay your bills pretty soon and your credit will get lower. These may seem farfetched, but they are doable task that may help you out. Don't drive anywhere unless you have to that way your saving gas, get a bike for close range areas.

posted by  salimander13

I like thos ideas... but ive been looking for a 2nd job... and i havent gotten any call backs. This city and state are one of the worst in the country econ wise.

Theres nothing close enough to me to bike to. And I do need the net... most of my time to work on papers comes on sundays and late nights... both times when the computer labs are closed.

I already dont drive anywhere when I dont have too.

posted by  TheFieroKid

Instead of going full-time go part-time. Dont take 15 hours, take 6 or 9 hours. That way you have plenty of time to earn extra money. Plus, part-time is a lot cheaper than full-time for college. At least at LSU.

posted by  thunderbird1100

I cant skip on education... Like seriously... the more classes I take now, the less I have to take when I head to brooks... and thats good... cause brooks is gonna be very hard.

posted by  TheFieroKid

I'm guessing you are living on your own right now. Have you considered moving back home? Will they let you move back home?

As far as checking accounts, I don't know what kind of backwards bank you are trying to go through, but look into another branch. There are a few online branches as well that you can look into. HSBC for instance is a decent bank. I bank through them and can't say anything bad about their service.


You know, that's the thing I've always hated about FAFSA. If you are under 25 years old, they take your parent's financial information into consideration when looking to approve student loans. How many kids do you know that actually live with their parents until they are 25? Not many.

You said something about not wanting to take less classes. Why not? If it takes you 5 years to get to the other college, it takes you 5 years. No one says you have to rush to get your education out of the way. The point of the matter is, you are in deep and you have to do what is best for you. I think you should consider taking less classes at this point. It may take you longer to complete your education but atleast you can eat!!!:2cents:

posted by  97Talonchik

Here's HSBC's student checking information. You can also apply online.

http://www.us.hsbc.com/1/2/3/personal/checking/student-checking

posted by  97Talonchik

Live off of Ramen noodles and water.

posted by  Scolson

I appreciate your suggestions but


Yup, and I probably will at the end of the semester.



Case credit union, slandered federal (what ever their new name is) 5th 3rd... a whole bunch of others.



I cant do this, if it takes me 5 years to finish, its going to take me 7 years at least to get my degree... if I’m not a doc its not worth 7 years.


I think my best bet will be to move home with my parents when this semester is over... If I get accepted to Brooks in cali, ill be leaving in the fall... at least I know that if I’m going there Ill be able to get loans... tuition is big there so ill probably need it.

posted by  TheFieroKid

The American Financial System sucks? I don't see anywhere you got screwed. You yourself admitted you've made some mistakes. Yeah, you're in a tough situation, but I don't see how it's the system's fault.

If you want to save a few $, Netzero has a free internet service. I used it for a while, and it's not too bad. It just has a lot of adds, and you're limited to 10 Hrs. a month. Maybe you could use the computers at your school whenever possible, and on Sundays and late nights you could use the free Netzero. Also, a lot of colleges have workstudy programs, which I hear are a pretty good deal.

posted by  giant016

You can try to get a cash loan from the firm I worked at before. Call them up and ask to talk to Thomas. He is the financial manager there. I will PM you the number right now

posted by  newyorker

You'll never get there if you have no water, electricity or apartment.

posted by  thunderbird1100

I just gave you a solution and you're not willing to take it. There's actually been a lot of good advice submitted. You think it's not worth 7 years but you'd rather starve to death and possibly dig yourself into a bigger debt hole because of what? Pride?? That's a shame, I would have thought you a smarter kid than that.

Your headline should not read the American Financial System Sucks! It should read, I'm a whiny brat who won't accept responsibility. I want things my own way but I'm not willing to change anything for it. So please, someone hand me the easy way out. :doh:

posted by  97Talonchik

...................................................................... u guys never learn do ya? Corporate America is trying to control u ffs!

posted by  Inygknok

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