Sallie Mae - Private Loans

Nursing Students General Students

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Has anyone used Sallie Mae to finance their education. I do not qualify for Financial Aid and will need to take out a private loan. I am just a bit overwhelmed by all the ones to choose from. Sallie Mae seems to have good rates and a speciality loans for non-traditional (changing careers) students like myself. Even a specialized one for Community College degrees...

http://www.salliemae.com/get_student_loan/find_student_loan/undergrad_student_loan/private_student_loans/community_college_loan/

Any input would be helpful, thanks!

Specializes in Pediatrics, High-Risk L&D, Antepartum, L.

There are TONS of scholarships out there and if you can't find at least one that you are eligible for you are not looking very hard.

Well...not entirely true. I've spent hours looking and actually have not found anything. Well I take that back I did find maybe 2 and didn't get them because they were pulled out of a hat. It can be hard to find scholarships depending on which type of school, ethnic background, GPA, type of nursing, state you live in...it just all has to fall in place. It can be hard to find some.

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Specializes in Med/Surg <1; Epic Certified <1.
Did anybody here get loans to "live on" while going to school? Presently I work fulltime w/a house, bills, etc. My thoughts are to sell my house, pay off some bills, will have some to contend with some bills still, get an apartment, go to nursing school and work parttime. I'm thinking a parttime job WILL NOT pay all my living expenses plus tuition, fees, books, etc. I won't quailfy for any of the government "freebies" because I already have a BS. Someone on a different thread suggested to apply for a Sallie Mae loan while I was still working FT but I'm not sure how much I will qualify for. I guess bottom line - is there any funding out there that will pay for tuition, books, fees and living expenses? I'm not against having loans for all because I see it as an investment in me....

Sallie Mae "Tuition Answer" is a loan you apply for and can get to help with living expenses....it's been a school-year since I applied for mine, but they ask some questions about tuition, etc., then fund you accordingly -- and the check is sent to YOU. I filled out the dollar amount I was interested in and they sent the check. I didn't ask for the full amount listed on their website, however. I was working at the time I applied and so didn't have to worry about a co-signer, but I don't know what would happen if I applied for next year. I'm hoping I won't need to, but I agree -- it's an investment in yourself.

I think there are other private loans as mentioned above, whether they're from banks, etc. You might also look for a hospital job that would help out with tuition directly.

Good luck!!

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Specializes in Med/Surg <1; Epic Certified <1.
Well...not entirely true. I've spent hours looking and actually have not found anything. Well I take that back I did find maybe 2 and didn't get them because they were pulled out of a hat. It can be hard to find scholarships depending on which type of school, ethnic background, GPA, type of nursing, state you live in...it just all has to fall in place. It can be hard to find some.

I agree with this....I've spent time looking both for myself and my son who was a freshman this year, and without doing a complete genealogical background search on both sides of the families going back to the beginning of time, or lying about my financial status, I came up with nothing. My financial aid office was of no help to me nor was his at his university. We're white, middle-class, with him as the only dependent we had left (meaning we're not American Indian, or direct decedents of Thomas Jefferson or whoever/whatever; nothing "defining" about us) . My salary for the previous year especially made us look like we're in too high of an income bracket. Hopefully this coming year at least my son will qualify for a little more aid based on my not working for 5 months last year and my husband starting a new business!

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Specializes in Junior Year of BSN.

For those who are having problems finding scholarships. Please check this website. It's a compilation of MANY scholarships and you DO NOT have to be a person that just got out of high school. Just fill out the information and it will come up with a list of scholarships you qualify for. After that its up to YOU to apply for these scholarships.

http://www.fastweb.com/

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Specializes in Pediatrics, High-Risk L&D, Antepartum, L.
Did anybody here get loans to "live on" while going to school?

The loan I got through Teri kind of did. They contacted my school to find out cost. My school did not tell them the cost of credits only. They have the cost of credits, books, gas and so on. When I saw what my school considered the cost of the year I was shocked. I could have taken out enough to live on (minus maybe my mortgage which is high and my car).

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Specializes in Med/Surg/Tele.

I just got approved for a Sallie Mae, Tuition Answer Loan---it will cover living expenses etc!!!!!

Thank you for this thread...this is exactly what I needed, now I can sleep better at night.

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Specializes in Med/Surg <1; Epic Certified <1.
I just got approved for a Sallie Mae, Tuition Answer Loan---it will cover living expenses etc!!!!!

Thank you for this thread...this is exactly what I needed, now I can sleep better at night.

Congrats and best of luck in school!!! Study hard and you'll do well!!!:balloons:

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Specializes in My first yr. as a LVN!.

Sallie Mae interest rates are really high... I actually got approved through B of A (bank of america) but my credit scores are well almost to 800. First obtain your score, look around at which places are flexible and try to get lower rates. A school that may be $20,000 you end up paying almost who know.... $30,000 with those high rates. Also there are a lot of creit cards w 0% for 12 mths... as a single parent constantly juggling through life, I have found out a lot of ways to save money and get what I want and where I want... just gotta set aside some time... good luck!

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Specializes in CWOCN.

Sallie Mae Tuition Answer loan.

The interest rate is based on your credit score. If you don't have a credit history or bad credit, you will need a cosigner.

The process takes about one week once you have all the paperwork done. The check comes fast.

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Specializes in Med/Surg <1; Epic Certified <1.
Sallie Mae interest rates are really high... I actually got approved through B of A (bank of america)

Are payments due on this loan while you're in school? What type of loan is this as I'm sure there are lots of us who would like to look in to alternatives...

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Does anybody know of any student loan one can qualify for if they don't have A1 credit. I have been turned down by Mohela and Citibank all because I have one stupid collection (cable bill) :angryfire . That sucks because the rest of my bills are all paid and on-time.

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Specializes in Case mgmt., rehab, (CRRN), LTC & psych.
Does anybody know of any student loan one can qualify for if they don't have A1 credit. I have been turned down by Mohela and Citibank all because I have one stupid collection (cable bill) :angryfire . That sucks because the rest of my bills are all paid and on-time.

Sallie Mae will issue student loans if you have imperfect credit, just as long as you are employed at the time you apply. Your interest rate might be higher than usual, but they will issue loans to people with bad credit.

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