Ask The Money Coach

Without a job, and with poor credit and a host of outstanding educational fees remaining, your options for paying for this last class are indeed limited. Obviously you can’t get a bank loan, and it’s clear that you lack the income to pay for the final class you hope to take. Here are three options to consider:
•    borrow money from family and friends
•    sell stuff you don’t want or need in order to raise the money
•    try using a peer to peer lending site, such as Prosper.com., where people loan money to others

As a alternative, instead of worrying yourself crazy over this “one last class,” I think you would be better served at this time focusing on trying to secure paid employment. Yes, I know that jobs market is tough and that jobs are more plentiful to those with college degrees. And I’m sure that’s one of the reasons you want to get that college diploma. But don’t let be the single thing that determines your success or failure in the job market – or in life. Plenty of successful people (think Bill Gates) didn’t graduate from college. If you find a job, your employer may be willing to pay your tuition. Plus you’ll have income of your own to repay the overdue educational costs.

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 Lynnette Khalfani-Cox, The Money Coach is a personal finance expert, speaker, and author of numerous books on personal finance. She appears frequently as an expert commentator on television, radio and in print.