Loans for nursing school?

  1. Does anyone know where I can get a loan with a low interest rate to cover school. I want a private loan that can be used for living expenses, traveling expenses, School expenses, including books, tuition, computer. Every place I've seen has a very high interest rate and you end up paying more than triple of what you borrow.
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  2. 6 Comments

  3. by   JaxiaKiley
    I haven't had any luck either. For the ones that I've found, they want you to have a full time job when you apply, and you have to keep it the whole time you are in school. What's the point of getting a loan if I have to have a full time job?!
  4. by   TheCommuter
    Try www.SallieMae.com for your student loan needs. I was able to obtain a $20,000 student loan and the payments were deferred while I attended school.
  5. by   givingheart
    I have SallieMae loans. It is easy to apply, but the interest rate can vary depending on if you get a Signature loan or Tuition Answer loan. The website address is listed in the above post.

    I also heard of a TERI loan. My classmates say that they are pretty good too.
    Good luck!!
  6. by   RunnerRN
    I was able to get federal Direct loans for myself (I believe $5500 a year) which had payments and interest deferred until grad. I had to get a private loan, and went through Wells Fargo. BIG mistake; as soon as I graduated, the interest rate jacked to almost 10%, when I was paying 2.8% on my federal loans! Try Sallie Mae, or see if your state has a loan agency. In MO, we have MoHELA - the MO Higher Education Loan Assoc. I was able to get a loan through them that was around 3% and still deferred.
    Also, talk with your parents. They can sometimes take out loans on your behalf with lower interest rates due to their age and borrowing history. When I was looking to borrow, I had credit cards, but hadn't even bought my own car at that point. The good history helps!
    Good luck!
  7. by   rds007
    I don't know if this is something you would be interested in, but I was offered scholarships with two different local hospitals (pays for books, tuition, lab fees, student insurance, uniforms, stethoscope, & lab kit) with the agreement that I would work for the facility for two years after graduating. I chose the hospital that I wanted to work for and signed with them. Another bonus is once I graduate, if I decide to go for my RN to BSN, they have tuition reimbursement. So basically, they will pay for both degrees, with the agreement that I will work there for just two years, which I most likely would have been doing anyway. Works for me!:spin:
  8. by   kristen3g3tp8
    Forget loans... look into scholarships through your College!!!! or heck, even the Government!!! Nurses are needed.. and they are more than willing to help push bright young nurses-to-be, through school in oder to help with the on going nursing shortage. Also... Hospitals are often willing to contribute to your education if you sign a contract to work for them after you complete your education. Good Luck!!

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