Jump to content

Archived

This topic is now archived and is closed to further replies.

F00LY

Funding Otakon

Funding With Student Loans  

33 members have voted

  1. 1. Is it wrong to fund Otakon via Student Loans?

    • Yes
      26
    • No
      7


Recommended Posts

So, does anyone else use Student Loan money to go to cons? XD I'm considering tapping into a bit of that fundage...seems so wrong, yet so right. It's kinda the same thing as a credit card I suppose. I do have to pay it back...but why not, right? :D

Share this post


Link to post
Share on other sites

*Otakon Staff MC mode off and speaking as Robin not affiliated with Otakon*

I'm sorry, but like tapping into a Student Loan to go to a convention is ridiculous. I find it as ridiculous as people who let bills and rent slide just to attend cons. (Yes, there are some people who do that). People are better off using an actual credit card, saving money or dedicating an entire paycheck to attend a con then using money that is intended for their educations.

My two cents, take them as you will.

*Turns on the Otakon Staff MC mode again*

Share this post


Link to post
Share on other sites
So, does anyone else use Student Loan money to go to cons? XD I'm considering tapping into a bit of that fundage...seems so wrong, yet so right. It's kinda the same thing as a credit card I suppose. I do have to pay it back...but why not, right? :D

Share this post


Link to post
Share on other sites

Lol, I see your points. IRL I know someone else who has done it the past two years, and their reasoning given to me was the reasoning I listed...but then again they also dropped out of college as of this semester (done completely, no intentions of going back ; ; what a waste) sooooo we all see how well that went. XD I'm currently saving for teh con, so I shouldn't have to anyway, just curious what the communities opinions are. Still say it sounds like a good idea, but in theory why not just use actual credit XD

Pre-Christmas I was getting 30 hours a week. Now Im down to 4 this week. =( Yay for company cutbacks! Luckily I had all of my required money (Food, Hotel, etc) already set aside and on reserve. Now I'm just waiting for my spending money, and even that I have a veryvery little bit set aside. Just hope my hours increase or I'll find a new job. Yay for 8 months + a birthday to prepare that spending cash though XD

On another note too, my parents would slaughter me if they found out I used it for that, as of been told. XD Especially in the world of Co-Signers <_>

Share this post


Link to post
Share on other sites

I don't have student loans, just thousands in trust funds.

And I can't touch that money T.T

But um, yeah. That money doesn't belong in the cash register at the yaoi dealer's booth. It belongs to the guy who sells you books and stuff.. you get my point.

Share this post


Link to post
Share on other sites

it depends on if it's FEDERAL money(Stafford loans etc.) or PRIVATE money ( personal loans etc) if its federal grant money then its absolutely wrong and honestly how did you get that back in a refund check from your school to begin with(usually the school takes federal money and sends it back) :D . If it's a private loan you had to sign for or a parent had to co-sign for and you have alot left over my personal advice would be to use it as a payment, but seeing as this money has nothing to do with tax payers etc. and you'll have to pay it back later... it would be your choice :P . I'm personally getting a refund check at the beginning of my spring quarter, and have to use it for book and supplies... but if there is small amount or so left that I don't need I might put it away for something like Otakon considering with my loan I can't make payments under a certain amount while still in school(I think it's 100 or 150 something like that).

*The refund check is from my private loan*

Share this post


Link to post
Share on other sites

XD I dont know about my friends case, but in my case it would've been a private loan I recieve had it not been for a reality check with myself, rememberance of my cosigners wishes >_> and various opinions of both ways and one way surely outweighing the other. All of my federal loans go directly to my school account and I can't touch them if I wanted to :D But yeah, I hadn't voted myself yet unsure what to think about it knowing people who had done it but hmm.

On another note I got new job opportunities now so wooooo. D: Spending moneys galore~

Now to consider that "Prostitution to pay for Otakon?" thread. Hmmm...

And my money would not end up in the yaoi dealer booth <___<;

Share this post


Link to post
Share on other sites

yeah i thought my idea was nuts of taking out a loan to go down and setting it for a gradual 1 year pay back plan to help build my credit.

Share this post


Link to post
Share on other sites

/turns staff mode off

If you cannot afford to go to a convention without going into debt (where 'debt' is defined as 'taking out a loan' or 'using student loan refund money,' etc), then don't go to a convention.

....Seriously. Anime conventions are fun, and it's great to geek out with your friends for a weekend, but if you're strapped for cash there's no reason to spend money you don't have on a hotel room, travel, and registration - not to mention the hundreds you're planning to spend in the dealer's room and/or artist's alley.

There's a reason that travel is called a luxury: It's expensive; and if you can't afford it, you shouldn't do it.

/staff mode on

Share this post


Link to post
Share on other sites

I agree with ZGL. Then again, we're both probably older, live on our own, and have bills to pay. We don't work for "spending money". We work to pay bills and rent or mortgage. My biggest regret is that I didn't save more of my earnings when I was younger.

Share this post


Link to post
Share on other sites

A loan isnt like having free money....

And when you get out into the real world and have to pay all that money back you'll probably be kicking yourself for blowing it on trivial things.

Share this post


Link to post
Share on other sites

i have to agree with you on takeing out a loan just to go to otakon is a bad move. now if you had a situation like mine last year . being a emergency like my engine blew 7 days before otakon and i need my car for work. but a loan just to spend money in the dealers room is all most as bad as putting it all on your credit card or slideing your bills or not eating to buy a game

Share this post


Link to post
Share on other sites

XD That reminds me of my friend I had on the interwebs who didn't buy school lunch for a month, cuz his parents wouldnt get him a videogame.

Share this post


Link to post
Share on other sites
XD That reminds me of my friend I had on the interwebs who didn't buy school lunch for a month, cuz his parents wouldnt get him a videogame.

Share this post


Link to post
Share on other sites

what i tend to do is save up lunch money and not eat for a few days, then go out and get nicer food after school a few days later.

i've done worse with school lunch money, but i try to make it up to them whether they knew what i did or not.

Share this post


Link to post
Share on other sites

You're in college, go fix a few computers, or sign up as a lab assistant, work a cash register or shovel some driveways. Using loan money to do this is pretty weak, unless you happen to be majoring in something directly related.

It might not seem bad now, but those loans add up. In most cases, you'll be lucky to get 30,000 a year right out of school unless you know someone. When the payments come into effect, reality hits hard.

Good luck, hope you make good choices.

Share this post


Link to post
Share on other sites

I get a federal grant for going to school every semester. Now, its not a loan, its a grant. And my major is in Japanese. So, I don't see any problem using my money to go up to a convention that normally I could not attend. For me, its a reward for my 3.5 GPA that I have kept up for the past 3 years of college. But a loan, I don't know about. A grant is completly different. XD

Share this post


Link to post
Share on other sites

To me, it's all the same. Student loan or normal loan, you still have to pay it off when you're done with school.

So actually, I see not a whole lot wrong with using student loans for Otakon fundage.

Now, if you use too much of your student loans and can't pay for your schooling, then you're stupid.

Share this post


Link to post
Share on other sites
I get a federal grant for going to school every semester. Now, its not a loan, its a grant. And my major is in Japanese. So, I don't see any problem using my money to go up to a convention that normally I could not attend. For me, its a reward for my 3.5 GPA that I have kept up for the past 3 years of college. But a loan, I don't know about. A grant is completly different. XD

Share this post


Link to post
Share on other sites
I get a federal grant for going to school every semester. Now, its not a loan, its a grant. And my major is in Japanese. So, I don't see any problem using my money to go up to a convention that normally I could not attend. For me, its a reward for my 3.5 GPA that I have kept up for the past 3 years of college. But a loan, I don't know about. A grant is completly different. XD

It's very different.

<Begin Rant>

It's even worse that spending loan money!!! :):):):angry::angry:

Again...my tax dollars pay for federal loans AND grants!!

What makes makes using grant money worse is that you don't have to pay it back into the system. MY money has now been spent for someones entertainment and is now gone...poof.

Unless your professor makes Otakon a class assignment for you, don't use that money for anything else other than school.

<End Rant>

^_^

Cosigned. It would be a lot different if you used it to purchase language software, or textbooks, or anything else that actually pertains to JAPANESE, not a convention celebrating the culture... and let's not kid ourselves, buying a stuffed cat, naruto clothes, junk food outside of campus, fan art or anime is NOT what that money is intended for.

Tax question -- can the IRS audit student loans? ^_^

Share this post


Link to post
Share on other sites
Tax question -- can the IRS audit student loans? :)

*staff mode off for comment after answer*

Not unless the expenses spent from the student loan are itemized on taxes. That usually doesn't get itemized though I'm sure the IRS would LOVE to see how someone would explain buying a vibrating Mokona plushie and Naruto headband accounts for being "educational". :)

*staff mode on again*

Share this post


Link to post
Share on other sites
I get a federal grant for going to school every semester. Now, its not a loan, its a grant. And my major is in Japanese. So, I don't see any problem using my money to go up to a convention that normally I could not attend. For me, its a reward for my 3.5 GPA that I have kept up for the past 3 years of college. But a loan, I don't know about. A grant is completly different. XD

Share this post


Link to post
Share on other sites

My classes are all paid for as are my books, room and board for the whole semster. Even after all of that, I have a lot of money left over. So I went to the financial aid office and asked them was it wrong to use it. He told me that it was my money and if there was any left over that I could do what I want with it. I figured since I was a Japanese major that it would be great to go out and engross myself in the culture. Granted that buying anime and manga with isn't the best thing to do, with it. But I buy the Japanese versions, as well as the manga and practice translating. But I guess I am a bad person...for abusing the system.......

Share this post


Link to post
Share on other sites
My classes are all paid for as are my books, room and board for the whole semster. Even after all of that, I have a lot of money left over. So I went to the financial aid office and asked them was it wrong to use it. He told me that it was my money and if there was any left over that I could do what I want with it. I figured since I was a Japanese major that it would be great to go out and engross myself in the culture. Granted that buying anime and manga with isn't the best thing to do, with it. But I buy the Japanese versions, as well as the manga and practice translating. But I guess I am a bad person...for abusing the system.......

Share this post


Link to post
Share on other sites
Tax question -- can the IRS audit student loans? :ph34r:

*staff mode off for comment after answer*

Not unless the expenses spent from the student loan are itemized on taxes. That usually doesn't get itemized though I'm sure the IRS would LOVE to see how someone would explain buying a vibrating Mokona plushie and Naruto headband accounts for being "educational". :rolleyes:

*staff mode on again*

Ahhh the joys of two sided coins ... the IRS (or state & locals for that matter) could also get you on the other end because if (if?) they could prove it was not a qualified educational expense (you mean "con" isn't short for convocational?) then the loan proceeds magically turn into undeclared ordinary income, not a gift.

Share this post


Link to post
Share on other sites

haha.

I'm so glad im young enough to rub off on my parents.

ahh,

its good to be thirteen.

Share this post


Link to post
Share on other sites

To give you an idea of what you will be setting yourself up for, here is a sample of one of my loan statements:

Amount of loans: $8250

Loan adjustment: - $1965

Adjusted loan amount: $6285

Principal paid: $1314.88

Interest paid: $848.12

1/3 of my payments are interest alone. Unless you have some means to pay the loan off in its entirety quickly (which if you did, why are you taking it out to begin with), you will be burning a ton of money.

If you are just using a small amount from an existing loan, different story.

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.

×