318: You Finished Your PhD But Can’t Graduate Because You Owe Money, Now What?

318: You Finished Your PhD But Can’t Graduate Because You Owe Money, Now What?

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Dra. Yvette Martinez-Vu: [00:00:00] Grad school, along with many other academic and professional spaces, wasn't built for first gen and BIPOC folks like us. And yet here you are, navigating it all, often without the adequate support you deserve. That's why I created Office Hours with me, Doktora Yvette, a budget friendly, high impact coaching and consulting space designed specifically for first gen, BIPOC, and or neurodivergent grad students, postdocs, and early career professionals.

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Dra. Yvette Martinez-Vu: You've passed your thesis defense. You've submitted every form, you've made it to the finish line, and then you're told you still owe the university money. We can't release your degree. I shared about this on social media recently, and I was not surprised at the level of engagement I received. Why?

Dra. Yvette Martinez-Vu: Because. Every year in the last 10 years, it seems as if I find out about another [00:02:00] scenario where a scholar. Primarily black and brown women will reach out to me or someone in my network to ask for advice for what to do because they found themselves in the same situation. And surprise, surprise, it has impacted so many of us.

Dra. Yvette Martinez-Vu: A lot of us have very similar experiences, and to be quite frank, this. Pisses me off, and so I thought I need to record an episode about this, and this happened similarly. I don't remember when I released the other episode, but it was for episode 267. I. I talked about the topic of hidden costs, of finishing grad school because of similar situations, but for this episode, I wanna talk about specifically the circumstance of getting to the finish line, but not being able to graduate because you owe money.

Dra. Yvette Martinez-Vu: So if you want to [00:03:00] learn more, if you're in that same situation. Even if you're interested in grad school and you're a first gen or a working class or low income student and you want to make sure that you can avoid this scenario, you'll want to listen in.

Welcome to the award-winning grad school Femtoring podcast. The place for first gen Bipoc to listen in on inclusive grad school stories and learn about personal development and productivity tips. This is Yvette Martinez Vu, a certified coach, consultant and author, and I will be serving as your Femtoring, providing you with insider knowledge to help you reach your personal and professional [00:04:00] goals.

Dra. Yvette Martinez-Vu: Welcome back everyone to another episode of the Grad School Femtoring podcast.

Dra. Yvette Martinez-Vu: This is your host, Doctora Yvette. Yes. Today we're talking about what to do if you're told that you can't graduate from your program because you owe the university money. I hate to mention how common it seems that this comes up for. People like us, those of us that are first gen, that are bipoc, and especially those of us that come from low income or working class or poor backgrounds, it is far too common, and I don't like that.

Dra. Yvette Martinez-Vu: It's such a hush, hush situation that people are made to feel ashamed and like it is their fault that they owe the university money. When in actuality there's so much more that universities could be doing to support students that have financial need, and so I [00:05:00] wanted to start off by calling attention to that previous episode.

Dra. Yvette Martinez-Vu: If you're curious about some of the expenses that come up when you're ready to graduate, you'll want to listen to episode 267 because there's so many things that you might not even realize that comes up and just how expensive it is. To graduate from wanting to attend academic conferences to go on the job market to paying for graduation expenses and very, very expensive regalia to filing fees, and I.

Dra. Yvette Martinez-Vu: Fees to pay for relocation expenses and so on. There's a lot more, I go into a lot more detail in that episode, so check it out. It'll be in the show notes. But again, for today, what do you do if you owe money? So what does this look like in terms of scenarios? I know this happens not just to graduate students, it happens to undergrads as well, where sometimes they might [00:06:00] find themselves owing a couple hundred dollars to even.

Dra. Yvette Martinez-Vu: A couple thousand dollars and then as a result, they get pushed out. They're not able to pay that fee, and in some cases it's the squeaky wheel that gets accessed to undisclosed or private. Discretionary funds from, say a Dean or from some sort of financial assistance program, that unless they asked and reached out to people in their network, they wouldn't have found out about it.

Dra. Yvette Martinez-Vu: And so that's why we, we hear about a lot of cases of students who become stop out students or folks who leave graduate school only to then later come back when they're able to pay that fee. Or even in some cases, some folks carry that fee. Well into several years afterward where they're trying to pay it off.

Dra. Yvette Martinez-Vu: So these are all considered financial holds [00:07:00] and what comes up is that if you owe the money, if you owe the university money, they will not give you your degree. And this can impact you if you need to have that degree to be able to start a job or to show proof that you completed the program. And like I said, it disproportionately impacts students of color disproportionately impacts low income students, and it disproportionately impacts first gen students because you might just not know that there are even policies around to support you or you might not know what expenses are coming up ahead, uh, you know, are coming up as you reach this stage in your program.

Dra. Yvette Martinez-Vu: And it frustrates me even more because I've also heard of so many colleagues who assume that you have access to familial support, who assume that you might have access to generational wealth, trust funds, [00:08:00] savings, et cetera, where they're like, oh yeah, my parents helped me out by giving me. X amount of money or, oh yeah, I have this fund that I have access to that helped me pay for it.

Dra. Yvette Martinez-Vu: And not all of us have that support. And instead, a lot of us have added financial obligations. A lot of us are trying to support our own families, and even in some cases, extended family. So it's, it's a lot. It's a lot to be expected from us. And then going back to. Who it disproportionately impacts. I also wanna call attention to how it also disproportionately impacts black women.

Dra. Yvette Martinez-Vu: When I shared on social media, I was upset, but also not surprised that the folks that publicly commented on the posts happen to be black women. And I, I'm aware that. Black women tend to hold more student loan debt than any [00:09:00] other demographic group, and if you don't believe me, check out the A A UW or the American Association of University Women Quick Facts Sheet on Student Debt.

Dra. Yvette Martinez-Vu: They published it in 2022, but a lot of us know that black women. Have taken on the most debt and that people of color, black and brown folks in particular, tend to be impacted more by the racial wealth gap and limited access to support. So I wanna call attention to that, the fact that even now that racial wealth gap is only getting bigger as access to higher education is.

Dra. Yvette Martinez-Vu: No longer as financially feasible. Why? Because in the past decades ago, public universities relied on state funding to keep tuition rates lower, and in some cases, [00:10:00] folks were able to go to public universities for free or for a much lower cost. Now, we have seen over the years that tuition has skyrocketed and then meanwhile.

Dra. Yvette Martinez-Vu: Access to institutional aid is diminishing. We're losing out on funding, we're losing out on grants, we're losing out on so much more support because of all the changes going on with our current administration that it is concerning. And what does this do? This places the financial burden directly onto students and our families instead of onto the institutions themselves.

Dra. Yvette Martinez-Vu: And. This is going to impact people like us. It's gonna keep impacting, and why am I saying this? Because I also know that. It also impacts you if you don't have a heads up. It also impacts you if this [00:11:00] information is not transparent and if you're first gen and you're feeling like, oh my gosh, there's so much insider knowledge I don't know about, this is why I'm recording this episode, because it helps to know.

Dra. Yvette Martinez-Vu: Because if you know you can plan in advance for it, you can do something about it or you can even make decisions to avoid it altogether. And in some cases, if you're someone interested in grad school, it might mean that you decide, I'm not going to graduate school unless I get funded, or I'm not going to graduate school unless I know and have my finances in order and I know that I can afford it.

Dra. Yvette Martinez-Vu: So. All this to say. Let's go back to the scenario of, let's say you're not thinking about grad school because you're already deep in it and you are listening to this now because you're in that situation. What do you do if you're in this situation?

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Dra. Yvette Martinez-Vu: Well, firstly. I need you to not keep it to yourself and to not wait until the last minute, as soon as you find out that you owe the institution money, and if you know that you definitely cannot pay it.

Dra. Yvette Martinez-Vu: You have to become a squeaky wheel. Yes, I said it. You have to contact anyone and everyone who you trust and who has got your back, and who can serve as an advocate for you. So that might mean contacting your department chair. That might mean contacting graduate division. [00:13:00] That might mean contacting financial aid.

Dra. Yvette Martinez-Vu: And then you've gotta ask to see are there any discretionary funds available? Are there any emergency funds available? And if so, how do I apply for that? How do I petition for that? And you'll likely, if these options are available to you, you'll be asked to write up. Something about your situation, showing proof of need, and then you've gotta highlight why it's urgent.

Dra. Yvette Martinez-Vu: And in most cases, it's because you are weeks or months away from graduating, or you're needing to show proof that you have this degree to be able to even start a job. So be the squeaky wheel. Ask around, reach out to your network. Unfortunately, I've also noticed instances where folks did not reach out and then they decided to put a pause or.[00:14:00]

Dra. Yvette Martinez-Vu: Leave a, B, D and not finish their graduate programs. Or sometimes, in some cases, students feel like they have already pursued all the options available to them and they still cannot pay the full amount. And so they will, um, they will create a GoFundMe or some. Other funding or fundraising campaign to be able to get the mutual aid or community support to be able to pay that off?

Dra. Yvette Martinez-Vu: Again, I don't recommend it unless it's the absolute last straw or the. Plan Z, you know, you've, you've already tested out other options and nothing else has come up. In which case, yes, it makes sense. You want to do what you need to do to be able to get that degree. But I would rather you make sure that you tap into institutional support options before you try to tap into that [00:15:00] community support and the mutual support.

Dra. Yvette Martinez-Vu: Because again, in my opinion. It should be on the university to pay you enough to complete your graduate program without debt. But that's just my personal opinion. Okay. So if you are not in this scenario, but maybe you anticipate that this could happen to you, maybe you're a first year, second year, third year in your program and you're thinking, hold up.

Dra. Yvette Martinez-Vu: I don't want this to happen to me, but also I don't have. Generational wealth. I don't have this huge savings account. What can I do? Well, you can be proactive by investigating any policies related to financial standing related to emergency funding sources. You can try if, if possible. I know that you don't make a lot as a graduate student, but maybe you've got a part-time job.

Dra. Yvette Martinez-Vu: Maybe you're work working [00:16:00] full-time while. Completing your graduate program and if you're able to try to work on building up a savings account for these end of program hitting costs, so that way they don't come at such a surprise to you that then you're not able to afford it. And then of course, keep building your relationships because you're gonna want people who can advocate for you.

Dra. Yvette Martinez-Vu: And also, you know, I can't reiterate enough about making sure that you ask your department a couple of questions around this whole topic of. How to make sure you're gonna be okay financially at the end of your graduate program. And in fact, I'm gonna end the episode with a checklist of things that you can do to make sure that you're okay as you get ready to graduate.

Dra. Yvette Martinez-Vu: And these are all different questions that you can ask your program or your institution. [00:17:00] To again, make sure you plan for this in advance and you don't end up in this scenario. But I also want to say that if you are, if you are a professor and you're listening to this, if you are an administrator and you're listening to this.

Dra. Yvette Martinez-Vu: Please, please, please advocate for policy change at your institution. Make sure that information is more transparent, that students are given information about all the different financial implications. That you know, or costs that come up at every stage of their program. And definitely please maintain emergency funds that are accessible and not just accessible, but also make them visible so that students know that they have that option.

Dra. Yvette Martinez-Vu: I don't. I, I personally, am not a fan of folks finding out about these emergency funds because they talk to someone else, and it's not even available anywhere online. We need to make this visible so that everybody who needs it can [00:18:00] tap into it. So as we get close to wrapping up today's episode, I wanna leave you with a checklist of things to ask so that you can make sure that you're good to go by the time you graduate.

Dra. Yvette Martinez-Vu: So the first question, this is all related to finances, funding and making sure you don't owe the university money, is you wanna ask, am I in good financial standing? With the university, you'd be surprised how many people find out at the last minute, wait, what? I owe this fee. No one told me, how come no one told me this before?

Dra. Yvette Martinez-Vu: And so ask about that. You wanna ask if there's any other unpaid fees or balances on your student account that maybe you weren't aware of. You can also ask if there is a deadline to pay off any fees, and you can say that. You can say, I don't have any fees right now, but in the case that I were to have fees close to graduation, is there a deadline to pay that off in order to graduate on time?[00:19:00]

Dra. Yvette Martinez-Vu: Make sure you ask. Are there filing fees? More often than not, there probably is. And how much is that? What are graduation processing fees? There's even a fee to get your dissertation copy, right, to get the copy right for your dissertation. And I remember that came as a surprise to me and so many financial surprises at the end that were really, really stressful.

Dra. Yvette Martinez-Vu: So make sure you ask about any. Anticipated fees that come up during graduation, you can ask, well, what happens if I can't afford to pay those fees? What are my options then? You can also explicitly ask if there are any emergency funds or completion funds to help cover those final costs right as you're getting ready to finish.

Dra. Yvette Martinez-Vu: And then of course, you wanna have a frank conversation with your advisor or with your department chair and ask, who do I need to talk to if I need [00:20:00] help, especially if I need help with. The any additional financial costs that come up close to graduation. And then lastly, you wanna ask what happens if I get a job?

Dra. Yvette Martinez-Vu: So if I get a job offer, will my degree be comfort in time for employment verification? And I. You know, if I do owe any fees, by when do I need to make sure I pay those fees to make sure that I can have my degree conferred on time? These are all scenarios, and it doesn't mean that you might run into this situation, but at least if you get this information early, you can always refer back to it later, so that way you.

Dra. Yvette Martinez-Vu: Know what to do. You don't get frozen. You don't, I, I, I hope it can minimize the shame and that you can remind yourself that you're in this situation because of universities that no longer provide access to the [00:21:00] financial support that they used to provide for students or for individuals who. Who needed it.

Dra. Yvette Martinez-Vu: You know, before, like I said, tuition wasn't as expensive, and in some cases it was free, and that's no longer the case, and it's not your fault. So keep asking. Keep advocating for yourself. You are not a burden for needing help and. To be frank, I don't think anybody should need to fight this hard to finish something that they already earned.

Dra. Yvette Martinez-Vu: This is why it's so frustrating. So like I said, I. Keep on advocating for yourself. Listen to that other episode so you can anticipate those hidden costs. That's episode 267, and keep me posted. I'm here. I love listening. I mean, I'm here. I love hearing from you all. So please leave me a comment on Spotify.

Dra. Yvette Martinez-Vu: Shoot me an email, send me a DM on Instagram or LinkedIn, and as [00:22:00] always, I hope that this was helpful and I will talk to you all next time.

Dra. Yvette Martinez-Vu: ​thanks so much for listening. If you liked what you heard, here are three ways you can support the show. The first is to make sure you're subscribed and leave a review on Apple Podcasts. The second way is to get your copy of my free resource kit linked in my show notes. This kit includes tools, playlists on all things grad school, productivity, and personal development.

Dra. Yvette Martinez-Vu: The third way to support my show is to follow me on social media. You can find me on Instagram with the handle at gradschoolfemtoring and on LinkedIn by searching my name. Thanks again for listening. And until next time.