By Anonymous - 05/01/2011 22:52 - United States

Today, my mother came over again to help me work on my Student Aid application. She also brought over the savings bonds that she has been accumulating since I was born to help pay for college. Turns out they won't reach maturity until I'm thirty. She never bothered to check out this fact. I'm screwed for college. FML
I agree, your life sucks 27 546
You deserved it 3 428
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Top comments

birds_fml 7

You're not screwed. Just take out loans if you have to, and then when the bonds mature use them to pay off the loans. I mean, were those bonds REALLY enough to pay for your entire education? Depending on where you go, that could cost $40k or more.

45 1
shanameow 7

Well... Maybe you could use those in the future to help pay off student loans? Or a community college is a great way to get your general ed. out of the way, and save money!

18 3

Comments

Vasin_fml 15

Yeah at least you got money for college, you bastard. I had to take out loans and apply for several scholarships. Your college may have there own scholarship, so start applying.

1 0
kristylew03 1

Another banker here... If its a ee bond they reach face value in about 12-14 years. Yes they earn interest for 30 but the rate they've been paying has been much higher than traditional saving accounts so you've still been making out pretty good. Be happy your mom even thought to save for college.

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snipeshow 3

I'm pretty sure bonds can be sold on the market to other investors... so that's a way to cash them in. and I'm also assuming the bonds pay interest annually or quarterly and not all at the end...

1 0
justbigbs 6

You are sure ungrateful, some parents don't even have a f---- dime for the kids to go to college. Your mom thought about you and saved up money for you, its still money you can use later. Worse come to worse take out the f----- student loan, and use the bonds to pay off the loan when available. At least your mom tried to plan for you. hope karma bite you in your ass real hard if you're not grateful to your mom.

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anthylorrel 0

You can cash them in even if they aren't mature. you just won't get as much.

1 0
sarahbear430 0

you'll be fine. especially if your parents aren't rich (which if u were worried about paying, I'm guessing they're not). just take the loans and then the longer you're in school, the more free money you'll get!

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Tony7781 0

Its called a student loan bright light. All u people do is complain about everything

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BPislandgirl 0

I work in banking... Most are EE bonds these days, they reach their face value after 18 years, but can gain interest for up to 30 years. Thus, they are at least worth the amount printed on the bond after 18 years.

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eleniel421 28

Well, FYL if your mom had assured you that the bonds would pay for your entire education, because it sucks when things you're depending on fall through...but if the bonds were so essential to your financial plan, why were you applying for student aid? If you qualified for student aid even WITH the bonds, they can't have been worth that much and it's probably not a disaster that you can't use them right away.

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