How many of you have taken out school loans?

  1. I go to a CC so the tuition isnt bad at all. This semester I go full financial aid to cover tuition, books and have extra left over. For the fall however tuition is mostly pais for but I am in for at least $400 in books. I was thinking of filling out the paperwork for a loan through the school, as it would be cheaper than putting it on the credit cards. For those of you that did get loans, how was the process?
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  2. 20 Comments

  3. by   mitchsmom
    I got Stafford loans and I thought it was surprisingly easy. I just filled out the FAFSA online and the info was sent to my school's financial aid office and they deposited it into my school account. After my fees were paid I went and picked up a check for the balance.
    http://www.fafsa.ed.gov/
    Best wishes
  4. by   Kora0880
    Quote from mitchsmom
    I got Stafford loans and I thought it was surprisingly easy. I just filled out the FAFSA online and the info was sent to my school's financial aid office and they deposited it into my school account. After my fees were paid I went and picked up a check for the balance.
    http://www.fafsa.ed.gov/
    Best wishes

    agree, that's how i got through (almost that is, grad in december)
  5. by   RedSox33RN
    I have to call my new school again. I got loans for the General Studies program I'm in now (a CC; tuition only $6500/year), but I'm attending an expensive private college in the fall ($24K/year). I called the Financial Aid office once, and told them I'd filled out my FAFSA on the web, but she said they hadn't gotten through the whole pile of them yet. That was at least a month ago, if not longer.

    Thank you for the reminder! If I'm not getting what I need from them, I have to start filling out loan apps - soon! :chuckle
  6. by   EMTtoRN
    Thank you all,
    I will have to re check my fafsa because I may not have checked off loans because we can view our financial aid online and it said loans not offered?? hmm maybe I need to stop by the financial aid office and ask!
  7. by   studentnurse74
    I plan on getting every dime I can! You really need to go to the fafsa website someone mentioned, and fill out that form, then it goes to your school.


    Everyone, please remember to shop around for books! The bookstores will milk you! Check out this: http://www.addall.com/ I usually go to my school bookstore and write down the ISBN number to make sure I'm looking for the right book (hee hee ), then search on addall. It searches many websites for the cheapest price.
  8. by   klone
    I didn't qualify for any loans through FAFSA, but I got a private student loan through my bank, Wells Fargo. It was very easy. After doing the application over the phone, they sent the paperwork that needed to be signed, along with a copy of a paystub or W-2 for whoever is cosigning (if applicable) and proof of enrollment. The check comes about a week later.
  9. by   alexillytom
    I'm a bit confused. I have only used student loans to pay for my education. I filled out the
    FAFSA, later I had to go to Sallie Mae and fill out my Stafford loan papers and pick a lender. I thought everyone qualified for the Stafford Loans. What would make one ineligible? Our income went up just a tad last year, but not nearly enough for me to pay my tuition out of pocket. I would just be sick if they told me I couldn't get my loans.
  10. by   klone
    Quote from alexillytom
    What would make one ineligible? Our income went up just a tad last year, but not nearly enough for me to pay my tuition out of pocket. I would just be sick if they told me I couldn't get my loans.
    Our income is too high. Based on our income, I was told by FAFSA that our family responsibility is $15,000/year. The cost for the whole nursing program at my school, including books and fees, is around $6000. That's for the entire 3-year program.

    Luckily I was able to get a private loan (pretty much the same as an unsubsidized Stafford, but with a higher interest rate) and I also received a scholarship.
  11. by   manna
    Wow, some of the EFCs I've seen mentioned on the boards here just blow my mind! No offense intended! :chuckle
  12. by   Tony35NYC
    Quote from alexillytom
    I thought everyone qualified for the Stafford Loans.

    Not everyone qualifies for stafford loans. If your income for the previous tax year exceeds their threshold they will deny the loan. They will also deny it if you already received loans and grants for the completion of another bachelor's degree.

    I was denied every time I applied for financial aid for this nursing program, so I gave up and decided to keep working and fund my education on my own. The financial aid office at my school is directing me to private lenders, but unlike the stafford loans (which are subsidized by the federal government) the private loans come with a higher interest rate. I'm still paying off student loans from my first bachelor's degree program (which I foolishly did at an expensive private university) and I'm trying to avoid taking on any more debt.

    I wish I had gotten better advice about college the first time around. I could have gone to a CC and saved a lot of money!!!
  13. by   klone
    Quote from manna
    Wow, some of the EFCs I've seen mentioned on the boards here just blow my mind! No offense intended! :chuckle
    I'm lucky I guess that I have a thriving home business. At least, it appears to be thriving on paper, but it certainly doesn't seem that way when I look at my bank statement each month! But it definitely puts a gouge in us at tax time.
  14. by   PennyLane
    My EFC for this year was $10,000. What a joke. I'd only been working since graduating from college in '97. For next year it's something like $7,000. Still pretty unrealistic. However, tuition for my college is only $6K or $7K per year. Even though my EFC was more, I still qualified for govt loans b/c they factor in cost of living, too. So my total cost of education for one year tuition + living expenses was around $25,000.

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