Nervous About Paying for School

  1. Hi Everyone!!! I'm sure some where on here there is a thread that could answer my question but I surely have not found it yet. I am currently getting my BS in Psychology and then I'm either doing the accelerated BSN program or the AS program (because of the cost difference). My only dilemma is that I'm almost pretty much maxed on my Direct loans at the $31,000 because unfortunately my mom is a single mother and doesn't make enough to help me with tuition. I had to move to go to school and I'm now living on my own and going to school full time while working a part time (with full time hours) job. I've done the research and I've read that since I'm at the maximum borrowing limit that I won't be able to borrow any more money. Has anyone else encountered this and if so, please tell me how to deal with it!!! I know this sounds like another sob story but I'm actually telling the truth. I've pretty much worked since I was 15 and never thought I'd be graduating with a BS in anything! But my ultimate goal is to become a Psychiatric Nursing so after a couple years in the nursing field, I was going to back and get my Master's probably in Counseling Psychology or even Nursing. But right now, the cost and having no money is really discouring me of becoming a nurse, period.! Hope you ALL can help and give me words of wisdom because I could surely use it! :spin:
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    About wishfulnurse01

    Joined: Mar '12; Posts: 10; Likes: 1


  3. by   DemonWings
    There are some hospitals that will sponsor you through the nursing program in exchange for you working for them after graduation. I believe they pay for tuition and books, which would be a big help. I would look into it, start calling around to different hospitals in your area and see what options are available.

    And also, have you maxed out on your financial aid? If you are living outside your parents home, and you arent making too much money you might qualify for federal assistance. They might have cut back these days with all the budget cuts, but its worth looking into.

    Good luck.
  4. by   wishfulnurse01
    Thanks for responding CaliNurse11!!! I really appreciate all the help I can get!! I've heard about that as well. I'm definitely going to be checking into that! I currently have 2 prereqs that I have to take. THat's Chem and AP2. I have all other prereqs so I'm going to pay out of pocket for my last two prereqs and then start applying. If all goes well, I'll either graduate in December with my BS degree or in May 2013, depending on summer financial aid.

    Well my loans are actually through my Federal Financial Student Aid. And through the FAFSA (here in Florida) you can only borrow $31,000 in Direct sub./unsub. loans. I have the Pell Grant but they won't give that to you if you already have a BS. I was accepted to an AS program a year ago but I had to sign a contract stating that I wouldn't work more than 10 hours a week and in my predicament, that just wasn't in my plan. I never wanted to borrow loans to begin with but I knew that I had no other choice. With the cost of tuition raising in Florida and every where else, I had to borrow more money to cover my living expenses as well as school expenses because I had to make time to study. I only make about $10, 890 a year so it's not like I'm rolling in the money. I'm just extremely stressed and depressed about not finding the funds to support my dream!
  5. by   KelRN215
    There are always private loans. I borrowed way more than $31k for my BSN. I barely qualified for any federal financial aid and my stafford loans have long since been paid off. Most of my loans were through Sallie Mae.
  6. by   wishfulnurse01
    Thanks for responding!!! I've looked into Sallie Mae. I've heard good things and bad things, what's your experience with those loans? And are they contingent upon credit or anything like that? Sorry, I have no idea how to apply for loans because I normally just go through financial aid.
  7. by   boushie87
    I took out all my private school loans from citibank and yes, they depend on your credit. You are more likely to get a loan, and one with a lower interest, when you use a co-signer. Good luck
  8. by   wishfulnurse01
    Thanks for responding!!! I'll definitely look in to both Citibank and Sallie Mae. I just bought a car with payments now, so hopefully that will boost/establish credit for me so I'll be able to get a loan. My family doesn't have good credit at all. So even with my car, I had to do it alone. Thanks again!
  9. by   KelRN215
    Yes, they depend on your credit. You will qualify for more money with a lower interest rate if you have good credit or if you have a co-signer. You apply by going to and clicking on "apply for student loan".

    I have not had any issues with them. I applied for all my loans online, never had an issue getting the amount I needed to cover my tuition (my mother was the co-signer for most of them) and have had no problems with them since being in the re-payment period. When I wanted to drop my monthly payment last year when I was buying a house, all I did was call them and tell them such and they were able to do it.
  10. by   wishfulnurse01
    That sounds great!!! My car will definitely increase my credit so I'm pretty sure I'll be fine by next year when I need to officially apply!! I'm the type of person who wants to know how I'm going to pay for schooling way in advance so I can start planning ahead of time!! Thank you so much for your comments!!! You guys are amazing!
  11. by   hb08491
    I am sure you are very busy already with school but have you thought about getting a fulltime job that will allow you to use down time to study? For example, I am a dispatcher. I work 40 hours a week from 3pm-11pm and all my classes are schedeuled in the morning or on my days off. Because I am a dispatcher and my sole purpose at work is to support police and fireman, when nothing is going on I am allowed to study. I can get anywhere from 3-7 hours of studying done a day while at work. Also many cities(with dispatch jobs) have tuition assistance programs for their employees. Sooo if you are not making enough money to cover all your school expenses you might be able to get tuition assistance. Just a suggestion...I know some people find working fulltime and school fulltime too difficult but if you have the right job with the right schedule its completely possible! Check your local police and fire departments for dispatch openings...the pay is usually pretty good too! Good Luck!
  12. by   wishfulnurse01
    I've never thought of that!! I have tried to find a full time office job in Jacksonville but I cannot find one. I do however, need to find a job that will allow me to study as well as work like you are saying! I find that working a full time job and going to school full time is a difficult task, however, it motivates me to stay focused and work twice as harder on my school work. I'm definitely going to be checking around and see if they are hiring at different police and fire stations! Thank you for the suggestion!!! And thanks for responding!!!
  13. by   DemonWings
    I got my private loans through wells fargo. They were able to give me the amount I was asking for (and it was alot) within 24 hours after I got approved. The only bad thing about this is the interest started building from day one, I didnt have to make any payments while I was in school, but I think the interest was somewhere around 2000 dollars by the time I finished school.

    Dont feel bad about having to get loans, many of us had to and are doing just fine. I would just try to take out as little as possible so you dont have an enormous payment when your done with school.

    I took out a little more then you did and my payments are 324 a month, just to give you a little insight on how much your bills might be when you graduate.
  14. by   Temeika
    I agree, Ive maxed out in federal loans here in GA at $65000+, and Sallie mae has always kicked in to loan money when I had no other options.