Sunday, June 5, 2011

Second Seat Deposit Waived!

I got lucky and was able to get my second seat deposit waived. I contacted the school and told them that I had no job and it would be difficult for me to come up with the funds needed for the second deposit. The mentioned that they had never waived deposits before (probably not true) and that they would talk to the dean and get back to me. I had already taken care of all my financial aid for the school and attended a new student picnic so they knew that I intended on attending their school. I was happy to get a phone call stating that they would waive my seat deposit and accept a brief letter explaining my financial situation in its place. I would recommend that anyone going to grad school at least try and get their deposit waived, but of course, only if they really can’t afford it. They actually asked me how I planned on paying for tuition if I could not even afford the seat deposit. I guess they forgot about the whole student loan thing. I doubt many people pay cash for grad school.

Friday, June 3, 2011

furniture financing

I you need furniture for an apartment for either graduate or undergraduate school I highly suggest you shop around.  I used a co-signor for a local furniture store and was able to get 0% interest financing for 50 months. I spent 3k on stuff and it’s only going to cost me around 60 each month to pay it off.  This is a way better deal than buying on a credit card or using cash up front. Financing all my furniture will allow me to keep more money in the bank incase I need it and $60 a month is about the same cost as a cell phone.
However, there are a few things to point out if you plan on financing your grad school furniture. The most important one being that you MUST pay everything off in the allocated 50 months, not doing so you will incur a very high interest rate. Plus the interest will be charged on the past 4 years that you were making payments. In order to avoid this I would suggest paying an extra $5 or $10 each month. This will insure that the debt is paid in full by the time the special financing runs out.