Difficulty Financing as a Student

[rmkrum]

Probably because many of us ARE moms or dads, have raised a kid or two or more, and really like handing out “mom and dad” advice?

[Lily&Me]

When you post an issue on a public forum, you are going to get feedback.

What has happened here, tho, is that this thread has become a should you or shouldn’t you, when the original question from the OP...who may have had enough feedback, and left...had to do with whether financing a loan for an Airstream could happen for an undergraduate student, headed to medical school in about 1 1/2 more years, who is not employed, and whose only income is and is projected to be from student loans and parental help.

Maggie

[swakyaby]

Originally Posted by Mansderm161

Everyone is different in regards to needs, but having gone through med school, residency, studying for boards, being in a relationship, I can't imagine living in an Airstream in an RV park, quite a distance from school, the hospital and library in a relationship and surviving both the educational demands and the relationship. Consider also what you want to specialize in....some fields are highly competitive...do you need to be in the top of your class? You will need quiet places and quiet times. Get an apartment close to school and the hospital that has a separate room you can claim when you need space. Otherwise I think you will run into many situations when you resent your fiance, your living arrangements and maybe even your career choice. That's my opinion as a woman who tried to do it all. And I did it all in Houston.

I couldn't have said it better. From another woman who has been through the experience.

[Overstreet]

Hospitals that take interns and residency doctor's aren't necessarily near the best camp grounds. That 3/4 ton truck isn't a great commuter. Add a second vehicle. There is no privacy in a travel trailer. There will be clutter when you add printer , scanner and extra computor screens.

My college student wife drove me nuts needing absolute quiet when she was studying in a one bedroom apartment.

College loan and additional vehicle loans and airstream loans with "no" income is bad debt management.

[Overstreet]

Originally Posted by swakyaby

I couldn't have said it better. From another woman who has been through the experience.

Agree.

[Eagle & Bear]

I read most of the 6 pages of advice. Consider this to be a minority opinion in this discussion. If you decide to buy an AS read the posts about buying and repairing an AS. You are in the right place. If you find an AS you think might work for you, there are members of this forum who will actually drive to where the AS is located and help you sort out what that particular trailer needs. They will do it for free but some coffee and something from the bakery will be appreciated.

I was looking for a horse trailer but someone put a 29’1976 Airstream in the wrong column. Because we paid $5000 for our AS it was not much more than an experiment to see if we can live in close quarters for an extended period of time. When we bought our vintage Airstream 11 years ago we replaced the appliances and anything else that looked like it could be a problem in the future. After working on it for several months we sold the house and have been wandering aimlessly in North America, Canada and Europe since then (we did not take the trailer to Europe).

The only thing I will emphasize is: Do not buy a new Airstream!! Save the money for a tow vehicle and the rehab of the Airstream. Lots of pros and cons to consider when deciding on a TV. That can be discussed on another thread. During the 1970s and 1980s Airstream made the production of a solid RV that would last several generations a priority. When Thor industries took over Airstream they had a lot of experience producing the white sided RVs that you have already rejected. Their emphasis was to maximize profits and they cut corners whenever they could.

AS produced different interior configurations each year but they all were made of solid materials. The only real working/essential parts on the AS are the hitch, lights, axles, brakes and the floor. Unless it is in pristine condition stay away from the particle board floor. There is only one layer of flooring and it is surprisingly thin. Most are around 3/8ths thick.

You have to consider the condition of the exterior and interior when making your choice but there is not much wiggle room when it comes to the floor. I did not know anything about the floor until a year after we were on the road. I moved everything I could to see how much of the floor was rotted. Fortunately there were only three small areas that had some rot but I quickly tore all of the appliances out and applied "Rot Doctor" to the entire plywood floor. I did not replace any part of the floor but after painting it with a two part epoxy layer on the floor it has not gotten any worse. You do not want to have to do a "shell off" restoration of the floor. That process is only done by people who are bored with life and need something to do for several years.

Like you I had no idea what I was getting into when I bought our AS. It looked like it was in useable condition but I knew nothing about spotting problems with any part including the floor. We tow our AS with a Ford E350 4X4 van that allows us to get into remote areas where we can stay for extended periods of time. When we are moving we use the van as a storage shed.

You should be able to make it work. The trailer should have separate living area, kitchen bathroom and bedroom. Carefully check out the RV parks in the areas that you want to live while you are going to school. Having lived in a 29’ vintage AS for 11 years I cannot imagine living full time in an AS that is less than 27’. The 29’ gave us two closets that we have packed with four seasons of clothing and shoes. The rear bath is actually usable but a rear bedroom might let you feel that there are two separate living areas.
You may also be able to find some places to park your AS in the old style single wide trailer parks. Before you make a commitment, rent a space in the prospective RV parks for a week or 10 days. Get to know the people who will be your neighbors for the ensuing 4 years and make note of how far it is to school, work, transportation, grocery stores, etc. Since you are looking at medical school, the AS will save you big time on moving expenses and other hassles that will pop up.

Depending on where you want to go to school your costs will vary but most of them outside of Cali. and the NE will be affordable. Before you move open Google maps, drill down and look for RV and trailer parks. From the street they are often hard to see. Reasonable costs to rent a space for the AS on a monthly basis can range between $400 to $800 a month. Lower in rural areas. Take it as a given that you will living in communities that are populated by lots of folks who are on a limited budget like you. If you can find a place where there a lot of retirees. Not a bad group; just make sure that the place feels right for you.

The tow vehicle (TV) will pose another set of problems that you should consider before you buy the AS. We do well with a 2003 Ford E350 van that has a 5.4 gas engine but it will get 15 miles per gallon at best. The one big advantage is that we can shift it into low range and pretty much go anywhere. There are services that can tow your trailer to a specific spot and park it for you and you can run around town in a hybrid whatever. A second consideration is to buy a TV that is capable of safely towing your AS and sell the TV after you get settled. There are lots of other choices to make but this group has a significant amount of experience that you can tap into.

[Richard]

Wow! I’m really surprised at all the self-proclaimed experts who seem to think this is a life-or-death situation! I purchased a 2 yr-old Bambi just before I began a Ph.D. program and lived comfortably in it during four years as a grad student and for three years after that as a post-doc. Managing your time for taking exams, practicals, blah...blah...blah will be a function of your dedication as a student. Whether you live in an apartment, a house, an Airstream trailer or a tent, there will be obstacles to overcome, but by your dialogue it seems quite obvious that you can handle them. Many of these replies, though well-intentioned, appear to be coming from folks with corn cobs up their butts (and depending on the field of medicine you choose, you might be able to help them out with that dilemma). I absolutely LOVED living in an Airstream during grad school, and there’s no reason it shouldn’t work for you, as well. True, it won’t appreciate in value, but money spent on rent has no redeeming value at all! And to think that a landlord will immediately solve any issues you have is ludricous, at best. I say go for it! Some of the replies you received sound as though you you are headed down a road that you will regret for the rest of your life! Nonsense! I had a very successful 25-yr career, am now retired, and continue to enjoy my Airstream! I have never once regretted by decision, I don’t even remember being “inconvenienced” by going to dump stations, and if I had it to do all over again I would absolutely do so! Your career as a physician and the income you will have over your career...well, this transaction will be a pittance! Again, good advice and carefully thought out opinions are one thing, but it appears to me that a lot of folks who offered you feedback need to lighten up a little. Sheesh!

[Oregon Ms]

All of this...get accepted to Med School first. It's a cart/horse thing.

[dick&claire]

I am a physician and I've been down the road! Finish college first and make sure you have been accepted to medical school. Some medical schools offer dormitory housing at a very reasonable cost, much less than financing/maintaining an Airstream.

Living in an Airstream full-time in the northern half of the country can be very uncomfortable in the Winter. And full-time camp sites in urban areas can be expensive, $30-$50 per day for transients. Wait until you are in a residency program and have a monthly income.

[Richard]

Well, there you have it! A physician has chimed in and has determined what is best for you! Better heed that advice (since you are following the same career choice, your experiences are bound to be identical!). Sheesh...

[jamieb1086]

OK. Ambitious plans for the next 4 years. BUT....you have the financial means, and it sounds to me like this is something you want to do. So, you should do whatever you need to do to be happy.
I bought my new Airstream 2 years ago amid a bunch of screams about buying used first, (it is my first RV)etc....But you know what? I bought new. Maybe I could have gone used, but today I’m so happy that A. I bought an Airstream and B. I bought new.
Go out and meet your challenges ahead and have some fun doing it.
Good luck and let us know how you’re doing! You will love your Airstream!

[Leilanisteve]

Interesting reading but I’m pretty sure the OP and her fiancé checked out a few days ago.

[AirstreamCSH]

Originally Posted by Rocinante

You're missing a key element in your plan, though a previous poster has referred to it. To be blunt, RV's always be breakin'. Always. No matter what RV you buy, used or new, something will always be breaking. You will need available time and/or money to get those things fixed. We bought our Airstream brand new, and we spent two years getting things fixed under warranty. Since then, it's been on our dime. We manage fine, but we can allot time and/or money to get stuff fixed when it inevitably breaks.

Don't believe me? Check this out: on GoFundMe there are, at this very moment, roughly 560 requests for money so broke folks can get their RV's fixed (search for "RV repair"). Nearly 600 people right now, who thought they could live for cheap in an RV, and then found out too late that RV living is not as inexpensive as they needed it to be. Something busted, they're too broke to fix it, and now they are literally begging strangers for help.

Don't be that person. Rent an apartment with an air conditioner that works. Save the RV for later in life when you'll have the time and/or money to take care of it. Best wishes for a great med school experience!

Oh, and if you're viewing an RV as an "investment," I have some swamp land in Florida you should buy instead. Seriously. Even Airstreams, though they retain their value pretty well, are *not* investments.

This is solid valuable advice.
A home isn’t an investment. It’s a place to live that you rent from the local government by paying property taxes. While it may increase in value, it just as easily can cost you more with all costs considered.
Lastly, buy Rich Dad-Poor Dad and read the first book.
Please don’t do the RV; that is a lifestyle that’s more expensive than it looks.

[Thiss]

My wife and I bought a new 28 foot SOB with a slide and lived in it as newly weds while we finished our BSs and then later our Masters. Somethings were tough. For my wife it was way hard, mostly due to beinging in a trailer park, but for me it was better than all the apartments in town that reminded me of the dump I grew up in.

The outcome was 4 degrees, owning our trailer outright, and now a great home in the best neighborhood in town. With that said, I am not sure we would do it again. Nevertheless if we were to do it again, I would have gone smaller, I would have just bought the Airstream I had wanted (23-24 ft), and I would have made sure we stayed mobile more and left the damn park on the weekends.

To your original question, try your community credit unions.

[Foiled Again]

I know I will never find the original link, so pardon me for stealing the thought. In a completely unrelated thread I was startled to read a comment that said, houses do not appreciate in value, only land does that. You CAN sell a house (and its land) for far more than you paid, but of it isn't a "flip" that is completed in 6 months in an up market, the maintenance you continue to put in exceeds the profit you think you have made. I pulled the records for the old house, and the great big dramatic expenses were less than the minor stuff when totalled up. The old money pit (circa 1917) had brass hardware, with cut crystal door knobs and locks with the old skeleton keys. Cost $75 to have the paint and gunk polished off and the lock cleaned up. After that I realized that this was a perfect do it yourself project. It was kinda fun and the results were stunmung. But there were hundreds of little projects that were urgent for safety reasons, and it was always money vs. Time. Just fixing horrifying amateur electrical "Upgrades" ran over 2000 bucks. Got 100K more than the purchase price but spent more on repairs.

And very few homes ever get hit and run damage.

Domiciles are money pits, but you have to live somewhere.

Live long and prosper.