You need to apply for college money and get that check – sweet. But should you get a computer now or wait? Give it some thought before you buy.
Let’s say your financial aid check has finally arrived. And now you can make it through the school year. If you don’t have any way to access a computer, or if you applied for college money just to buy a computer, then you may as well. But if you already have a computer, waiting could help you later.
I’ll show you. A student loan for a computer usually only happens once. I checked out a few colleges like University of Washington, University of California (US Merced), and University of Oregon. They all have a one-time computer student loan policy, meaning you apply for money for a computer in college only once - and a one time computer loan policy is fairly common.
Now when a computer cost $3000-4000, I could understand it, but today you can get a pretty nice set up for just $700 to 1500 or so. And that’s a laptop with wireless, and printer. Nice. But why use your one computer loan for that? Try this on.
Instead of applying your college money to a computer right now, wait a bit. If this money is just general money for school that you borrowed, you can sock it away till next year, or maybe you’ll need it to finish out this year anyway. Then, next year or when you are at the end of your junior year, or in your last year – or even a grad student, you buy the nice computer.
Why? Because it’s a one time thing, and maybe you can wait. Then, as you are finishing college, you get the cool, whiz-bang laptop, maybe add on an Android tablet or an iPad, and you finish the degree. You are set with great technology for a few years while you struggle through the lean years of starting up a career.
It could help. I know, you plan to make bank when you graduate. Some serious ka-ching, multiple zeroes and all that. But remember, you may have a family. You may want to eat. You will have to pay for those student loans. And possibly you have a credit card or two from those spring break trips, right?
So if you apply for college money later for the nice computer, and you get it at the end of college, it may last you a few more years. And you can pay off that trip to Rio, or to Saks, or wherever, and still have a nice computer for after college.
Because believe it or not, technology at college is a bit more available than after for most people.
And because sometimes all those zeroes in your income after school haven’t made it to the right side of the dollar sign, and you may have a few skinny years after school.
Keep the faith – college is worth it if you learn and use the education. If you really need it, apply for college money for a computer. But if you just rack up debts, you may regret those years, except that weekend in Carmel, South Padre, or Myrtle Beach, or – well, you get the picture.
Finish. It’s worth it.
I've recently found another reason to wait to apply for college money to buy a computer - without much loss. Here it is: you could refurbish a laptop or tower, from Craigslist, eBay or wherever. Some are very cheap.
I'll explain more on this later, but this is the start. Many laptops just need to be cleaned, get a new battery and hard drive.
Think about it - it could be a great help.
And for a very unusual way to borrow money,
student loan money you've never heard of from a source you wouldn't expect. Take a look.