I don't see my comment or your response.

Hi Perplexed--Thanks for your comment.
We published your previous comment regarding your daughter's situation on Caroline's "Financial Independence Day" post yesterday. Click the "Comments" section underneath the post and you should be able to see it.
Caroline wanted to do some research before responding, but please know that she is working on a response to you and should have that up soon.

One last thing--if the comments don't appear, try hitting your "Refresh" button. Thanks!

Kathy,
This is great that you are thinking about not getting in more debt, but if you really wanted to come and travel Europe, lets say for 3 months you still would be able to do it for little or nothing. It seems you would like to have the experience of living and enjoying Europe, correct?
1st – You could get an air miles credit card. This will usually get you 1 mile for every $1 your send. So lets say if you used your credit card to take out those student loans, that $50k would immediately get you a free flight to Europe and back. Thus your flight is now paid.
2nd – I know in the UK, you could apply for a visa that would allow you to work in the UK for 6 months, no problem. Thus getting you extra funding for your travel, as well as living the UK. The UK’s GBP is one of the strongest currencies in the world, currently £1 ~ $2.05, just getting you a small job making £6 an hour at 40 hours a week would make around £240 per week and almost £1,000 ($2,000) per month. Now I know you wanted to have a European vacation, but in England you could travel all over the place by train and see it first getting a great living experience.
3rd – No you have $2,000 saved up for travel over 2 months, that is around 1,000 per month, I know that isn’t much right now with the exchange rate of the USD to the Euro, but will still give you something.
4th – Now lets say you do run out of money. You could always get another credit card and use that. When you get back to the US, you could switch that amount you spent to another card, where you can get 0% interest for 6-12 months for the first year. Thus you can then pay it off over an extend period of time without any interest.
5th – I believe now you have an excuse why you should go. Listen to that devil and get out to Europe and go for it!!
Enjoy your trip!!

Hello! Thanks for your suggestions - you sound like a creative thinker! Fortunately I have had the pleasure of traveling to Europe for an extended amount of time, so I don't feel TOO inconvenienced by my situation this summer. :-) You've laid out some of the options, but remember that each of those has drawbacks as well. For example, the suggestion of putting my tuition on my credit card scares me a little - the rewards points are nice, but with no income while in school I'm not sure how I would begin paying it back immediately. It's also likely to come with a higher interest rate than I could get with a student loan in the U.S. Staci talked about this option in an earlier post on September 26, 2006 entitled "Charge it?" and like her I'm little nervous about it. There are so many considerations that go into deciding how to pay for big purchases such as tuition and vacations, it's just important to consider the pros and cons (and long-term costs) of each alternative!

In response to ‘I Love Europe’s!’creative bullet points.
1st--I'm not certain 'I Love Europe!' understands the process of taking out student loans. I’d bet that he/she had tuition covered while in school and does not have any school loan debt. Does he/she not realize you don’t take out student loans on a credit card? He needs to understand you can use the money borrowed from the government via school loans to pay off ccard debt but you cannot rack up 50k worth of frequent flyer miles by taking out student loans.
2nd – What about rent, food, transportation, flights, misc. expenses for the 6 mos you are in the U.K.? You can’t live in a hostel for 6 months straight which means you would have to rent a flat which would surely break the bank if you are making the minimum wage as London has the 2nd highest cost of living according to my latest research. Lets say perhaps you are able to circumvent the hostel system and stay in one for cheap for much of your 6 mos in the U.K.; what employer will hire you if your living address is a hostel? I’d imagine HR depts. in the U.K. do routine background checks and would not allow an employee hire like this to happen.
3rd—See thought process above in 2nd point. Saving $2k is wishful thinking.
4th – From what I understand only select individuals with the highest credit score are offered 0% ccards. A ccard company is not going to offer a Joe Schmoe who has debt already or pays bills late a 0% card. Or someone who doesn’t have a well paying job for that matter. Many criterions must be met before being issued a 0% ccard. Where do you see yourself in 12 mos is the question to answer b/c how do you suddenly have the $$ to pay off the 12 mos worth of debt. From my experience as an undergrad and grad student, you mostly live day to day.
Dear ‘I Love Europe’ or anyone else who feels the need to go to Europe immediately,
Here are a few of my suggestions:
1) Apply for a student exchange program which allows you to live in dorms which is a cheaper alternative for living arrangements. Your time, energy and money is well spent b/c it is allowing you to continue school while also living abroad and being submerged in another culture. In the end you have something to show for it ie. A semester’s worth of credits abroad and graduating on time.
2) If you really have the travel bug: you should plan ahead, save your money and go during a school break. Make a budget and stay within your means. Everyone can use a break but a 6 mos ‘break’ in Europe is not plausible for most people, especially students. Time your trip with seasonal fluctuations in airfare and school breaks/long holiday weekends. Airfare to Europe can be very affordable during early mos of the year.
3) Graduate from college and/or graduate school first, then save your Paid Time Off/ Vacation and then take your vacation to Europe. Not only will you be getting paid while in Europe but you will have a few full time paychecks under your belt.
4) Lastly, if you really do need to be in Europe for the extended period of 6 mos; apply for a real job there upon receiving your degree and be responsible by working full time, receiving health benefits and a salaried income. If your goal is to live abroad, work extra hard while in school for great grades and perhaps a well known global company will come to recruit you in one of their many overseas offices.
Good luck and safe travels!