Well, this is bad news to a student that would be using that loan money to attend school full time for a solid year. With being at school full time, it would prove to be rather difficult to work as many hours as he does already, barely make ends meet, and take on another loan payment....? Like any other loan, the “merit loan” requires a down payment. General rule of thumb for down payments is 10% of your total loan should be your down payment. If you do the math for that, 10% of $30,000.00 is $3,000.00.
If you are clutching at your throat right now, gasping for air at the thought of slamming down $3,000.00, then you and I are in the same boat. That, to me, is a lot of money.
The beauty of student loans is that you apply for the money to attend school, the loaners understand that you will be bettering yourself with an education and give you time to actually go to school. They don’t expect you to pay back the loan until you have graduated. Now that makes sense to me in so many more ways than the “merit loan” that expects payments immediately plus a hefty down payment.
I have high hopes. I also, thanks to my mother, have a good sense of reality and know when to stop mindlessly chasing your dreams. At least until your dreams are a little bit more attainable.
And speaking of dreams, pillows are usually where they take place. Which brings me to something a little lighter and not so depressing also the reason for the title of this post. Kendra over heard a couple of ladies talking about a huge pillow fight happening in downtown San Francisco. So naturally she Googled it and found out that it has been running for a few years now and is an annual thing every Valentines Day. Apparently thousands of people meet in the Justin Herman Plaza and when the big clock on the Ferry building stikes 6pm, the feathers begin to fly. I nabbed a video from YouTube (below) of previous years and ones in different cities, so you can get an idea of how big this thing really is.
If I can weasel my way out of work early I am going to pack my bag with my weapon and try to make it down there to, at the very least capture some video or photos.
You can see more information for the craziness that is the Great San Francisco Pillow Fight right HERE