Did you live off of student loans while in school?

pie123 · May 27, 2005

We do.. at least partly, for the same reasons you mention. My husband works two jobs and I go to school full time. I waited until my kids were older to go back to college, that probably wasn't the best move but that is the way it is. I have some grants and I take whatever loans I can get, subsidized or not, I don't care. Will paying them off suck? Well yes I would imagine so but the reality is that I have three kids who need clothes and their mommy at the same time. I am not thrilled that I have to do it this way but that's life.
If you "live" off student loans while you're in school you cetainly won't be the only one!

I totally agree with EVERYTHING you have said, & respect you immensely for it! I am in the same boat. Were it not for student loans, I would not have a degree-although it is worthless until I pass my exam :uhoh3:

Nevertheless, I am grateful for them, because I could not afford to pay for college myself, and neither could my parents, and Oprah & I are not that good of friends, so I felt uncomfortable asking her to pay for my college education :)

pie123 · May 27, 2005

I don't know what's out there now, but I went through nursing school on a National Student Defense Loan. I used it to pay for my living expenses, textbooks and uniforms (we didn't have to pay tuition in California at that time). I was unmarried and had a roommate. We lived in a studio apartment. There was a fellow in our class who was on welfare and was getting food stamps on top of all the other kinds of student aid he got. He got through the program though!

How in the heck did that guy work the system? I would have loved to get foodstamps while in school, so that I could afford to eat something besides Ramen noodles & TV dinners for goodness sakes! I am so envious!

pie123 · May 27, 2005

Well I'm happy for all the "pay as you go" people out there. You certainly will have less stress when you are done, and good for you, but frankly I would rather not have to tell my kids that they are going to eat PB&J's (with the occasional pancake thrown in if they are lucky) or wear pants with no knees because their mommy decided that she would quit her university education at 19 (which incidently she busted her rear for for her whole life) and have babies instead and now that THEY are all in school they get to go without so SHE can fufill her dreams... nope not gonna do it. I know that isn't everyone's situation but it is mine.
I'll be in debt up to my ears before my kids go without necessities just because of my choices. I hope the original poster has NO GUILT about having student loans so she can be with her family. I should have finished my education before I entertained the thought of marriage and motherhood but I just couldn't wait. And I'll have to pay for it along with a whole buttload of other people out there.

Amen to that sista!

pie123 · May 27, 2005

Am I the only person left on the planet who pays as I go?
No Debt..No Worries

I couldn't afford the pay as you go option. My school required like half of the tuition up front & the rest in 30 days...yikes!!!

BELLE0924 · May 27, 2005

Am I the only person left on the planet who pays as I go?
No Debt..No Worries

Nope... I worked full time days and went to school at night. (just graduated may 25th :) )Most difficult two years of my(and my husbands) life. But I would do it all over again. I took out student loans the first time I was in college and I'm still paying for them. I would never take out student loans again. We don't have children yet, but we've already started the future children college fund. I don't want my kids to have to be in debt as they start out their lives.. The unfortunate thing is that most of us just don't have a choice...

Daytonite, BSN, RN · May 27, 2005

How in the heck did that guy work the system? I would have loved to get foodstamps while in school, so that I could afford to eat something besides Ramen noodles & TV dinners for goodness sakes! I am so envious!

All of us in our class wondered about that. We were never able to find out. We were all working weekends as nurses aids and coming to classes on Mondays half asleep and he was kicking back. Oh, and I just remembered that as soon as we graduated from our AA program he went directly into a state university nursing program to get his BSN! :confused: I would love to know what he is doing now.

loriann, BSN, RN · May 27, 2005

I'm doing a combination of living off student loans and working part-time.

I just left my fulltime job so I could go to a fulltime accelerated BSN program. I have a part-time job on weekends which will basically cover my rent, but the rest of my living expenses will have to come from loans, as will my tuition. It will be a tough time, but I'll do it somehow. I also have loans from my previous degree, but I hope to find a job that will help me pay some back. I was able to pay my previous loans with my previous job, which was much lower paying that what an RN makes, so I don't think I'll have many problems.

When I left my job, I had about three weeks of vacation plus some personal time, so that will pay for rent for almost 4 months!!

Hopeful in Ohio · May 27, 2005

Are these student loans part of a financial aid package? I've applied online but haven't received anything yet from my college as to what I'm eligible for.
Also, can you qualify for student loans if your credit is not good?

Hi wannabenursetx

I filled out the FASFA and did not qualify for any financial aid - supposedly, hubby and I make too much money :rotfl: !! So I decided to take out a Stafford Loan. All you have to do is fill out the FASFA and have it sent to the school you attend (or will be attending.) I did mine online. Once the report is sent, you can go into your financial aid office and let them know that you are interested in taking out a Stafford loan. I filled out a doctument from my financial aid office, and signed an online promissory note and the next day I had my loan amount. As long as you have never defaulted on a student loan you can put in for the Statfford. They do not look at your credit history - but it's a good way to help repair your credit if you need the help!

I was lucky and had an easy time with this. Any questions, feel free to PM me.

Take Care,

Kelly

sunshine9 · May 27, 2005

I used to be the one who didn't need a student loan and paid as I went but now that I am transferring to a different school... It is a different story. Although you have to repay it, for me it is a beneficial decision. I would not be able to afford to go to school in the fall if I didn't take out a student loan. Taking out a loan is the difference between me working 16 or 24 hours per working instead of working 40 hrs and I still recieve the G.I. bill. Sometimes in the circumstance that your in, it may be beneficial to take out the loan. At the same time, some people can make it through school and work full time. A lot of the nurses that I work with have worked full time and went through school w/out taking out a loan but if they had a chance they wouldn't have worked so much because they felt like they missed a lot during that time and really get to experience nursing school. I don't want to make the same mistake. I think next year will be different for me because I will not be taking classes during the summer, I will just try to work my bum off and get myself financially ready (still taking classes during the summer). My goal.. Not to work as much and try and apply for some of the scholarships in the process. I didn't look at scholarships that much this year and I think that I was missing out. No way that I would be able to live off just my loans though, they wouldn't even pay off half of what it costs me to go to school.

lady_jezebel · May 27, 2005

I'm truly struggling, trying to figure out a way to attend school full-time during the day, so that I can have nights with my family. Unfortunately, we would really take a hit without my income (or at least a good portion of it). I REALLY want to devote full-time to school so I can give it my complete focus.
Is it a pipe dream to assume my family could live off student loans while I'm in school??:uhoh21:

I did it, but before I had children. The GUARANTEED federal max limit for borrowing is about $10,500 per year in a university program & you can borrow for the full 4 years as long as your gpa is above a 2.0 (I'm not sure if there is a difference for ADN programs).

So look at your budget & see if it's possible. Maybe you can make cuts in spending somewhere.

***** Additionally, there is a new federal program that pays off your student loan debt if you work in high need areas (including major hospitals). There is competition to apply for the program, and it's first come first serve. Finally, your state may actually pay off all your accumulated debt if you remain in & work in your state after graduation. These are things to consider.

LilRedRN1973 · May 27, 2005

We had that offered to us...it was called the WICHE program. One of the students in my class was offered it and accepted. It pretty much paid for her schooling. And since just about every area in the country is "in need" of nurses, she wasn't concerned about not being able to stay in our area.

I believe it covers the western states. They have a website...just do a search for WICHE program.

Melanie = )

**RosesrReder, BSN, MSN, RN** · May 27, 2005

Don't live off of loans. You don't want to graduate with thousands of dollars of debt.
I can pay as I go, too. Or they also have a monthly payment plan. The community college is only $1000 per semester, which is insanely cheap, but there are a lot of people that can't afford that, even. Or they could but they have different priorities.

You have a valid point there :)

However, in my case I work 2 jobs (50+ hours combined) and attend school full-time (all on student loans).....Anyhow, the way I look at it is.....no one is guaranteed how long you will live; therefore, I am in no hurry to pay off a loan. I will do it as I go after I graduate faithfully and hopefully I will live long enough for me to pay it off :chuckle

Jessica