Can’t afford target— working gap year?
Currently a sophomore recruiting for IB SA 2027 roles, so I’m on track to graduate spring of 2028. Problems: 1) I/my parents took loans out to go to a t10 target not knowing my parent’s financial situation/credit scores would get worse, and now they can’t take loans out for junior/senior year. 2) I’m shitting the bed with recruiting so I doubt I’ll even get an internship while I’m at this target (maybe a mid one who knows).
Edit: My parents are in collections and so they no longer qualify to take out the loans they once could. I do not personally qualify for these loans either given I barely have a personal income.
Looking forward, transferring to the local state school (100+ college rank) isn’t a great option as I’ve already accrued $60k in debt ($30k each year, not $90k because of financial aid), and I would have no idea what to do career wise to pay that off.
Another possibility is that I get a 2027 SA role in the current cycle and then don’t return to my current college. Would they rescind if I finished my degree at my state college instead of the target?
Or do I take a gap year, try to make 20/hr working 40 hours a week so I could qualify for a student loan/pay-off loans and then re-recruit? If so, how does that work given my sophomore year will be over and I would re-enroll as a junior? Would I recruit entirely remote during the gap year? Could I come to campus just for recruiting events?
What do I do right now?
Additional yap: Yes the loans were stupid. I only applied to merit-scholarship granting schools outside of this target and ended up prestige whoring. The school won’t help me with more financial aid. I thought I could thug it out and pay it off with IB money later but I guess not. In regard to shitting the bed with recruiting, I’ve dealt with a couple unfortunate events this semester that I should’ve been able to persevere through but they just came at a bad time and my frontal lobe still is developing. I don’t have chronic illness or a dead relative I’m just a little retarded, plus arrogant and complacent.
Based on the most helpful WSO content, here’s a breakdown of your situation and actionable advice:
1. Transferring to a State School
2. Taking a Gap Year
3. Immediate Steps
4. Mindset Shift
5. Long-Term Perspective
If you’re still unsure, consider reaching out to mentors or peers who’ve faced similar challenges. WSO’s community is also a great resource for advice and support. Keep pushing forward—your situation is tough, but it’s not insurmountable!
Sources: Off Cycle Recruiting Stories, PE Lateral Recruiting Advice/Stories/Help?, Non-Target Recruiting Guide Part I: Resume and Networking, Rising junior considering gap year because of COVID to re-recruit
Why can’t you take more loans? If you truly are confident you can land IB/something adjacent it’s one of the few scenarios where taking $120k of student loans isn’t that stupid.
You can pay most of that off with two bonuses.
Yes that’s the logic as to why I decided to pursue the loans/target option instead of merit scholarship college offers. My parents are now in collections and cannot take out loans for my last two years. I don’t currently have enough personal income to qualify personally for student loans. The whole situation is kinda complicated but bottom line is my financial aid / loan situation is bleak.
Honestly, I'd look at enlisting in the national guard at this point. You'll get tuition assistance, GI bill Student Loan Repayment Program etc.
you don't need personal income for student loans. are you a US citizen or permanent resident? US government gives student loans directly to students. 99.9% of them have no personal income.
This sucks to hear man, and I hope you don't have to transfer from your target. IMO, try to talk with the finaid office and see if you can figure something out. It's crazy how the cost of college has gotten out of hand, and I think we need serious changes in higher ed.
Here's my view. You have a few options:
When you have the funds to return to full time, do so. This lets you continue tackling things you don't really love as part of your degree (I would heavily consider classes that give out lots of As and don't have attendance requirements), all while making money primarily.
Even though you're in school, there's a solid chance you can fall-winter-spring internships back-to-back and actually get some solid funds without ever having to leave. This could meaningfully shorten the time required to cross the finish line at college.
Long post sorry y'all it's 9:30pm and maddie kay gets tired around that time so that also means more ranting apologies
If you need money immediately theres no shame in working a blue collar job, some of them pay surprisingly well. I worked a blue collar factory type job for a while as a college age person with no prior experience. When I worked 80 hours a week I was making 3000$ per week with the overtime pay. (30$/hr) It was difficult work but these places are always hiring.
Federal student loans? Private student loans? Talking to T10 Financial Aid office?
I wouldn’t transfer out of T10 but just takes out student loans instead. Just do your best and work during the semester and summers to pay loans off. Then regardless of whether you break into IB or not, you can aggressively pay your student loans back fast. I’ve already repaid ~60% of mine, and I’m only 1 year out of school
why would your parents take loans for you? you can take student loans for yourself, and repayment only starts after graduation. as long as you're a US citizen or permanent resident, they'll give them to you. you don't need any credit score or anything else.
What about staying on track through community college transferable bs credits while you work to afford next year?
Recruit 2027 summer, work 80hrs/wk this summer doing minimum wage work or an internship to pay for a semester of school next fall, but take increased workload then take a gap semester before interning to work fulltime again then use those funds+ internship money to pay for last yr of school
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