Changing the world, one breath at a time
Posts tagged debt
February Update
Feb 27th
Seeing that this blog is my journey in getting through college with under $10,000 of debt, I thought I should share an update to keep myself accountable to you.
Credit Cards
Where I am:
Well, this is been an ongoing battle. With my minor accident, I was unprepared to shell out the $350ish dollars to fix my car. Unfortunately, I had to use my credit card to pay for the repairs.
My plan:
As I mentioned, I am reading through America’s Cheapest Family. I just read through the chapter on debt and now have a plan. I will be taking my balances and paying them off one by one. I will tackle the cards evenly and once one car is paid off, I will take the money I was using to pay off one and put it on the other card.
Student Loans
Where I am:
Unfortunately, I did have to take out a loan to cover the costs for this year. I am currently saving money, with the hopes of paying off nearly all of this years costs this summer.
My plan:
By keeping my hands off of the money in my savings account (and adding to it with each paycheck), I am on my way to getting my loans paid off by no later than the end of this year.
Making Money
Where I am:
I am still working at Buehler’s, and loving every minute of it. While I have lost a few hours from one week to the next, I am still making enough to pay down my debt, while still stockpiling a bit of it. Also, I am still working getting paid-to-read emails and I appear to be well on my way to my most successful year yet! I’ll be posting an update next Saturday with current totals so you can see exactly how it’s improved. While this is not making me money, I have been asked to blog over at DelawareO.com. You can read an introduction and learn how Delaware has changed my mind. I’ll be posting two times each month over there about college life here in Delaware.
Site News
I’m running two contests on my blog now.
By tweeting “Enter to win America’s Cheapest Family and $15 from zachyounkin just by tweeting this. Details at http://bit.ly/cBVHoY” you will be entered to win a book as well as $15. You can get more info at America’s Cheapest Family
Also, if you have a blog, or are an affiliate for a product/company, I’m currently offering free advertisement. All you have to do is write me a little something and you’ll be entered to get a spot.
Be sure to subscribe to College for 10k, follow me on twitter (@zachyounkin) and become a fan of College for 10k on Facebook (see badge below)…
No College Debt
Feb 24th
Below you will find an interview with Chris Coppenbarger. I found his story via StumbleUpon and asked him if I could interview him because his story was quite unique. As a student trying to get through college with as little student debt as possible, Chris’ story is quite an amazing one!! If you are interested in talking about your story, email me and I’ll send some interview questions your way 
Can you tell me a bit about yourself?
My name is Chris Coppenbarger. I grew up in various places around the South, ending up in a small town near Savannah, GA. We were always in church and I was raised that if you don’t have the money for something, either save up for it, or don’t buy it. I have B.A. in Cross-cultural studies from Toccoa Falls College, a Certificate in Information Technology from Clayton State University, and a M.A. in General Theological Studies from Columbia International University. I work full-time as a web developer. I am married with two children and one on the way.
On your blog, you mention getting through college debt free. How did you do it?
I went to a small 2-year school in my first year and received money from the state through their HOPE scholarship program funded by the Georgia Lottery. I also received federal Pell Grant money. I think there was some other small academic scholarship, but I don’t remember. In the end, I received enough money to even pay for books. A lot of states offer some kind of scholarship program funded by their lottery. I didn’t do well enough to keep my scholarships and came home for two years. During that time, my dad died. My mom took a job at Toccoa Falls College in Northeast Georgia, and we moved there. I have two sisters as well. I was able to get a discount for my mom working at the school, but I was also able to get a few random scholarships and worked. I also lived off-campus with my mom and sisters. That probably helped immensely. In the end, I never took out a loan. There were some early semesters, when I wasn’t sure that I was going to be able to pay for the whole thing, but it worked out. I worked hard, committed to not get in debt over college, and got my degree.
And, you made it through seminary with no debt. How in the world did you do that?
Going to seminary was a little different than going to college. It was three years later, my mom didn’t work for the school (so, no discounts there), and my work wouldn’t pay for school, as it wasn’t related to my work (I worked for Target catching shoplifters). I was also married and we had one child already. In the end, I took my time. I was in a one-year program, since I didn’t need the Bible classes, having a Bible degree already. I could only afford to take one or two classes a semester to begin with. The Winter and Summer programs are only one or two week courses. While at Seminary, I was able to get a job on campus. This helped immensely as the school would pay for 90% of my tuition now. Again, I was able to secure a scholarship here and there that also helped to pay for the rest and for books. As for books, they can get expensive, so I recommend Amazon.com for book searching. In the end, I took my time, working my way through school. It took my three years for a one-year program, but I was able to finish it, even finding out we were expecting our 2nd child near the end. Again, I had committed to no debt. The only debt I believe that we maintained was a vehicle. It was hard at times, trying to decide if I could afford even one class sometimes, since payment is due up front. But somehow, we always did it. In both cases, college and seminary, I recommend sitting down with financial aid and discussing what scholarships and grants are out there. There are VA benefits if one has been in the military. There are specialist scholarships if you’re in a particular program or study. Since I was in the Muslim Studies program, there was a special scholarship for that. There are scholarships out there that don’t have to be paid back, if one just looks for them. If one has to complete a program in 5 years, instead of 4, then so be it. One shouldn’t have to rush it. A lot of the college debt that people take out, they are still paying for it 20 years down the road, and they may not even be using their degree. I don’t recommend loans to anyone for that very reason, and the interest rates are extremely high once you graduate.
If you could do college or seminary over again, would you?
Sometimes I think I would, other times I know I wouldn’t. I wish I would’ve stayed on track with the Mechanical Engineering program I was in at one time, but other times, I know that God had other plans for me. I didn’t do well in my first year of college. That might be the only thing I would possibly do over, but then again, I have a wonderful family and would not want to do that over. I believe that everything has a purpose and that I had my experiences for a reason. Some people may have to take out loans to get through school, but others may not. I don’t recommend loans because it’ll take forever to pay off and the interest rates are exorbitant. Like I said earlier, there are random scholarships out there that nobody knows about. Look for them. I was in seminary and found scholarships. There’s not a whole lot for Graduate and Seminary, but they are out there. Thanks for the time to share my experiences.
Chris Coppenbarger is a Christian, a husband, a father and a web developer in Columbia, SC. He has a B.A. in Cross-cultural Studies from Toccoa Falls College, a Certificate in I.T. from Clayton State University, and a M.A. in General Theological Studies (emphasis in Muslim Studies) from Columbia International University. He serves in his local church on the Missions Team, as the leader of a Men’s Bible Study, and as a web developer. He also blogs at http://god-at-the-center.blogspot.com.
What I wish someone would have told me my senior year
Feb 13th
With graduation coming in a few short months, students are looking at colleges across the United States and trying to figure out which college would be the best choice for them as they look to further their college education. As I look back over the past two years, I can think of a few things that I wish someone older told me:
Debt Is Not A Necessity
The basis of the blog is my goal of making it through college with under $10,000 of debt. Two years ago, as I mentioned before, I was planning on heading to Grace College. While I did have the sticker price down under $13,000 a year, I still would have ended up with well over $50,000 of debt for four years. I considered Ohio State University, but even there, I would have ended up with more than $30,000 of debt.
As I look back at those plans, I realize how much that debt would have played in me not being able to pursue my dreams without the cloud of debt over my head. Currently, I have about $2400 of debt and am getting ready to send my first check to knock out a bit of that loan. I’m well on my way to getting through school with under $10,000 of debt.
It Is Possible to Work and Go to School (and, I recommend it)
Currently, I am employed at a grocery store part-time, while going to school as a full-time student. Throughout this, I have learned a few interesting things:
- Groceries are expensive. Even though grocery prices are falling, I am amazed at just how much money goes to buying food. I know have a much deeper respect for those that are able to save hundreds of dollars a month on their grocery shopping.
- Working for my education has given me a greater respect of my education. Because I am paying for my education, I work harder because I know that if I were to fail a class, I am the one who has to repay to take the class again.
Friendships are important
While I have learned to meet new people and have even become friends with some of them, I have realized just how important friendships are. As I mentioned in Why so Little Debt?, I am trying to get through college with under $10,000 of debt, so that I can give money freely to my friends who want to go and change the world.
Because we are all within a four hour drive of each other, it makes it easy for us to get together and hear the successes we are having in our schooling and the career opportunities that we may have and how we can help each other through that. Through this all, we learn about each other a little more and can understand how we may be able to help each other out financially.
In saying all of this, please hold on to your friendships from high school. You never know when you are going to need them.
What next?
If you have already graduated from high school, what is one thing that you wish someone told you?
If you are a high school student, what is one question you have about college?
If you are graduated from college, what is one thing that you wish someone told you before you graduated and entered the “real world?”
Let me know in the comments
Link of the Week
I was asked to write a guest post over at CreditShout. You can check out Credit Cards from a Students Perspective and let me know what you think.