Did Anyone Live Off of Student Loans While in School? - page 3
My husband is currently the breadwinner in the family, i stay at home with our 4 kids. I am going back to school in a couple weeks for nursing (doing my pre reqs). My husbands company may be... Read More
Aug 19, '06Quote from JaxiaKileyWell, you can always get a co-signer and you can always get the loan and thenjust quit your job. Read some of the threads on CRNA side.As I've been doing research on student loans, I've found out that it is really hard to get them unless you have perfect credit AND a full time job that you plan to keep the whole time you are in school. It's really disappointing.
Aug 19, '06Quote from CRNASOMEDAY25Ahh, if it were only that easy! I'm probably the most credit worthy in my circle of friends.you can always get a co-signer
I will check out the CRNA forum though. Thanks.
Aug 19, '06Have you looked at Sallie Mae? They have the Tuition Answer Loan and I believe it allows you to take out up to I think 30K a year for school. The money goes straight to you and not to the school. I have had to use this alternative as my husband is the only one supporting us and I need the extra money to pull in what I used to make before going back to school. There are also federal loans, too. I agree with the others though that both of you not working and taking loans out for school could get you in a mountain of debt you may not want to take on. It just depends on what salaries you expect to make when you finish. Based on that, you can determine whether it is worth it or not. Good luck!
Aug 19, '06Quote from Trauma_Team_1Hi just wondered what bank financed your "living loan" at 2%My hospital is paying for all of my. Ill work PT for them while in school+ i have a 25 grand "living loan" from my bank at 2% int.
Aug 20, '06I just wanted to say, be careful with those "alternative" loans. My DH borrowed a bunch from Sallie Mae to get through college in California--I know it's $$$ out there--and we so wish he never had. Now that he has graduated, the loans can NOT be consolidated, can NOT be merged with his federal Stafford loans, and carry an adjustable rate which has just gone up & up in the past 2 years. His payment has almost doubled. It's like a huge credit card that just uses any interest they want to.
I would recommend "tag-team" approach--you go to school first, then while you work let your hubby return to school. Unfortunately, when you have a mortgage & obligations, you don't always get to do what you want exactly when you want. There's some sacrifice involved, especially in such an expensive area.
Personally I can't even imagine $4500 of expenses on dual income, let alone one nurse salary...I mean you'd have to gross like $6500+! Yikes! Maybe nurses make more out there. More likely your DH may always have to work some to make those ends meet.