| Possible? Moving out at 18 |
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scooterrox24
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| Possible? Moving out at 18 |
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I'm 17 years old. I'm in a situation where i need to move out as soon as possible. I found a house that's about 25,000. Right now its Oct. 2011, I turn 18 in March 2012, and hope to move out by June/ July 2012. As of now I have a full time job and I'll be graduated from high school in Nov. 2011. When I turn 18 I'm hoping to find another full time job and save save save. My boyfriend (of 3 years) also works full time. In fall of 2012 I'm hoping to begin my associates degree in nursing, but that means I'll be a full time student. The classes would take around 2 years. I have a 529 with 10k in it and the total of the classes is 50k. Would it be wise for me to buy the house? Would I be able to be financial stable for the two years if I save now and have my boyfriends income? I've just been told I need to move out by next summer, and it's just a sudden decision, and I'm not sure how to proceed with everything. Please help.
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Mon Oct 31, 2011 11:41 am |
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littleroc02us
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A house is only a blessing when you are debt free and have very little risk. Because you are so young and in college still with 50k in debt from the student loans, I would concentrate more on paying off the loans as you say you are working fulltime, just use the money to lower your debt. Imagine not being like everyone else and burrying yourself with loans that you are paying forever. If you were to put the 10k towards the 50k that only leaves 40k and if you break that down to four years of pay off that's only 10k a year.
As for a place to live, I remember renting a studio 6 years ago before I bought to save money and it was only $440 a month.
Good luck and once your 24 and have a 20% down payment then buy a house.
Romans 13:8 “Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law.”
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Mon Oct 31, 2011 1:24 pm |
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scooterrox24
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I understand that but the cheapest apartments with 15 minutes of my town/ school are over 500 a month, place paying gas and electric. That's why I was thinking of getting a foreclosed house so it's low payments, then if its only me and my boyfriend our water and other bills won't be as high. I don't have student debt yet, not till next fall. There's a chance my family will loan me money if I need it beacuse they understand having to what's going on at my home.
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Mon Oct 31, 2011 2:06 pm |
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littleroc02us
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quote:
Originally posted by scooterrox24
I understand that but the cheapest apartments with 15 minutes of my town/ school are over 500 a month, place paying gas and electric. That's why I was thinking of getting a foreclosed house so it's low payments, then if its only me and my boyfriend our water and other bills won't be as high. I don't have student debt yet, not till next fall. There's a chance my family will loan me money if I need it beacuse they understand having to what's going on at my home.
Just FYI, buying a house isn't just paying the mortgage payment. I've owned my house now for 6 years, but I have no debt and make a good income. My airconditioner broke when I moved in and that costs $1500, we need curtains for the windows and that costs hundreds, the sewer line backed up and we needed it snaked and on and on. owning a house is very expensive with all of the maintenance that takes place. Plus theres insurance and taxes. Renting is always the cheapest because your not responsible to fix the property you just pay to live there. Do what you want, but I would wait a while until your done with school and to make sure you have no debt and then save a 20% down payment. Believe me life will be much easier.
Romans 13:8 “Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law.”
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Mon Oct 31, 2011 2:42 pm |
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oldguy
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quote:
I'm hoping to begin my associates degree in nursing, but that means I'll be a full time student. The classes would take around 2 years. I have a 529 with 10k in it and the total of the classes is 50k.
Have you considered a 4-yr state college and earning a full BSN? The 4-yr begree will cost less than $50,000. And the dorm bill will be way cheaper than a house or an apartment. Plus, a BSN will assure you of steady jobs and high pay (DW was an RN for 43 yrs, it was a great career for us).
What is the deal with the 2-yr Plan? That $50,000 sounds way out of line, it would be only about $2500 per years at a community college. Don't get hooked up in a 'diploma mill', the hospitals know who they are, and they won't hire you.
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Mon Oct 31, 2011 4:25 pm |
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scooterrox24
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quote:
Originally posted by oldguy
quote:
I'm hoping to begin my associates degree in nursing, but that means I'll be a full time student. The classes would take around 2 years. I have a 529 with 10k in it and the total of the classes is 50k.
Have you considered a 4-yr state college and earning a full BSN? The 4-yr begree will cost less than $50,000. And the dorm bill will be way cheaper than a house or an apartment. Plus, a BSN will assure you of steady jobs and high pay (DW was an RN for 43 yrs, it was a great career for us).
What is the deal with the 2-yr Plan? That $50,000 sounds way out of line, it would be only about $2500 per years at a community college. Don't get hooked up in a 'diploma mill', the hospitals know who they are, and they won't hire you.
the two year for 50k is through bryant and stratton; my aunt did the program and got a high paying job within a month of graduation.
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Mon Oct 31, 2011 7:26 pm |
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littleroc02us
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the two year for 50k is through bryant and stratton; my aunt did the program and got a high paying job within a month of graduation.[/quote]
So what if you don't get a job and you have 50k in debt? You can't just look at the positive side of things when it comes to money, that's how people get into debt they cannot pay back.
Romans 13:8 “Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law.”
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Mon Oct 31, 2011 9:05 pm |
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oldguy
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quote:
my aunt did the program and got a high paying job within a month of graduation.
Do you mean 'high paying' to be over $50,000 so that the loan can be repaid?
Honestly, if I were you, I would go 4-yrs and get the full education, a 2-yr diploma will limit your career drastically. You are young, you have a decades-long career ahead of you, some day you may have chances for promotion to Charge Nurse, Floor Nurse, Hospital Instructor, Director of Nursing, Hospital Management, and so on. Besides, a 4-yr BS degree from a state university costs less than $50,000.
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Tue Nov 01, 2011 12:21 am |
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globaldoc2001
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I have a suggestion for you. After high school, you go to your career path immediately. You will end up with so many competitors, and you might not have the edge over the others. Unlike if you go for college. Once you are done, the 4 years college is going to give you the edge over the others. Your salary would be better than the others for life. Anyway, it is just a 4 year sacrifice and a life long fulfillment. Why not go for that?
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Tue Nov 01, 2011 3:49 am |
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scooterrox24
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I can't find a 4 year plan where I wouldn't have to go to school for a year or two for basic classes first. I live in northeast ohio and i've looked at osu, kent, and cleveland state. What I think I might do is get my AD for nursing first even though its really expensive, get a job and pay that off, then go back for a year and a half to get my BSN.
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Tue Nov 01, 2011 1:52 pm |
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oldguy
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quote:
I can't find a 4 year plan where I wouldn't have to go to school for a year or two for basic classes first.
scoot - I would rethink that - and 'can't' is a poor way to approach a task.
Often, when you pay a high price to buy a short cut, ie, take the 'easy' path,, that follows you for your entire career. When I review the resumes of applicants, I look for people who take the responsibility at work to complete an assignment, people who follow a job thru to completion. And I don't give interviews to those who try to avoid the work of getting a full education. Remember - there is abig difference between getting an education and getting a diploma. You can buy diplomas online from diploma mills - but HR Depts know who they are. Good luck.
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Tue Nov 01, 2011 4:39 pm |
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scooterrox24
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quote:
Originally posted by psteve710
I think buying the house will be smart choice...you must be a very smart girl..at age 17 you can do all that all by yourself 
your so cute; you obviously read so much of the first post
quote:
Originally posted by oldguy
quote:
I can't find a 4 year plan where I wouldn't have to go to school for a year or two for basic classes first.
scoot - I would rethink that - and 'can't' is a poor way to approach a task.
Often, when you pay a high price to buy a short cut, ie, take the 'easy' path,, that follows you for your entire career. When I review the resumes of applicants, I look for people who take the responsibility at work to complete an assignment, people who follow a job thru to completion. And I don't give interviews to those who try to avoid the work of getting a full education. Remember - there is abig difference between getting an education and getting a diploma. You can buy diplomas online from diploma mills - but HR Depts know who they are. Good luck.
and its not a half ass college, its a creditable college, approved by the nursing board to be teaching. It would be 5 semesters with 6 classes of each semester. thats why it would be quick. and its more expensive because its a smaller private school that only except minimal people for their classes. its not an easy way to go. my aunt had to quit her job because the classes are full time. and with not getting a job right away, the school has a 91% succession rate of assisting all of their graduates into getting a job, whether at a hospital or doctors office, within the first 6 months of graduation.
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Wed Nov 02, 2011 2:24 am |
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globaldoc2001
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I understand your situation, and I guess I agree with you. The smaller private school might just be the right answer. A little more sacrifice would go a long way. Just do not rush for these things.
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Wed Nov 02, 2011 7:01 am |
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oldguy
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quote:
It would be 5 semesters with 6 classes of each semester
The normal schedule in a State University is about 126 credits in most curriculums, altho some are more, I think my engineering BS was 150+ credits. That would be about 16 credit hours per semester for 8 semesters.
Like I've said, I would get the full education by taking the extra 3 semesters. It will cost quite a bit less than $50,000 and you will get the full eduation.
Be careful about the "91% success rate" and the "job in 6 months" part - remember, they are salespersons in the business of selling degrees and booking $50,000 students. Those promises are seldom fullfilled - think about it - how can the school predict the nursing job market in your area in 2014? No way - it will be whatever it is - and they can't get doc's or hospitals to hire you if the the docs/hospitals don't need nurses.
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Wed Nov 02, 2011 4:50 pm |
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