Student loans - page 2

Have any of you taken out more $$ from your student loans than what you need strictly to pay tuition? I have heard some people have taken more than they need to pay off some debt...seems like a... Read More

  1. by   TopCat1234
    Quote from mstewart
    have any of you taken out more $$ from your student loans than what you need strictly to pay tuition?

    i have heard some people have taken more than they need to pay off some debt...seems like a good idea to me. hey, you can't beat the intrest rate!
    be careful! and this is why i'm in the mess i'm in now. yes, you most definitely can do it and i have - to make a deposits on apts and car payments and such.

    but there is a limit - as an independent student you can only take out $46,000 total as an undergraduate student in federal loans. guess who is still working on her bachelor's degree and has to pay out of pocket $3500 for school this summer?

    yep, i maxed out. this is why as far as getting a nursing degree, i have to pursue the direct entry msn. i can't get any more federal loans for undergraduate, but i have another $92,000 at my disposal for a graduate program.

    so a word to the wise.....

    topcat
  2. by   manna
    WannaB - contact your school financial aid office and ask about loans. In the federal system, you can only receive aid up to (and no more than) what your school designates as total cost of attendance - including loans and grants. The COA number is adjusted for things like daycare or commuting expenses, housing, tuition, books, supplies, etc. As another poster mentioned, there are also caps on the amount of federal student loan money one may borrow.

    Good luck!
  3. by   dianacs
    Quote from wannaBEanRN
    I'm taking out extra this coming year. I'm going to buy a small commuter vehicle with money I've saved, but want to get a laptop. Plus gas IS $2+/gal. right now, and with a 1+ hour commute each way, at least 3x a week, I'm gonna need LOTS of gas money, no matter what kind of vehicle I get.

    I'd LOVE to get one of the Toyota Hybrid vehicles, but the only dealership within 50 miles of here has ONE, and no plans to get any more. They are a hot commodity right now.
    They sure are hot. I went to a dealer to put my name on the waiting list for a Prius; they say to expect year and a half wait. I hear that if you call around to different dealers and are willing to be flexible you can get one within a few months. But I can afford to wait, so I will.
  4. by   PCGrad06
    I live in Pikeville KY and I receive pell and KY's cap grant also. I have a surplus of 600.00 plus I get a loan for $1300.00. This is for Fall and again in the Spring. I attend BSCTC. Pikeville campus. Will have to go to Prestonsburg when RN school begins. Check out this web site! www.studentloanpeople.com
    I hope this helps you in some way.
  5. by   NurseDiva04
    yep, i maxed out. this is why as far as getting a nursing degree, i have to pursue the direct entry msn. i can't get any more federal loans for undergraduate, but i have another $92,000 at my disposal for a graduate program.


    topcat,
    if you are doing bsn/msn (direct entry), you are not considered undergrad for the bsn when it comes to financial aide? the reason i ask, i am trying to finance an acclerated bsn with a private college. don't have enough money. may have to change plans, if direct entry will give me more money options.
  6. by   luckymichelle
    I would love to find out more info on getting into a plan like described on the www.studentloanpeople.com website. What a great program for you Kentucky students! I'm in Wisconsin, but plan on moving to Tennessee right after graduation to be with my family and get out of the darn cold! Does anyone know how I can find out if there's a program like that in either WI or TN? I did a few internet searches and called my financial aid office, but neither were very helpful. :uhoh21:
  7. by   Saved_by_Grace
    [font=lucida sans unicode]thank you for the info i will look at the website tonight, however i can't get the cap grant because i go to a school in illinois outside of kentucky so it makes me inelegible for that grant. i hope that doesn't affect student loans. it doesn't affect the pell. thank you again!:spin:
    Quote from rnstudent,wife&mom
    i live in pikeville ky and i receive pell and ky's cap grant also. i have a surplus of 600.00 plus i get a loan for $1300.00. this is for fall and again in the spring. i attend bsctc. pikeville campus. will have to go to prestonsburg when rn school begins. check out this web site! www.studentloanpeople.com
    i hope this helps you in some way.
  8. by   Saved_by_Grace
    [font=lucida sans unicode]michelle, i personally don't know but if i run in to any info i will let you know! good luck!

    Quote from luckymichelle
    i would love to find out more info on getting into a plan like described on the www.studentloanpeople.com website. what a great program for you kentucky students! i'm in wisconsin, but plan on moving to tennessee right after graduation to be with my family and get out of the darn cold! does anyone know how i can find out if there's a program like that in either wi or tn? i did a few internet searches and called my financial aid office, but neither were very helpful. :uhoh21:
  9. by   TopCat1234
    Quote from nursediva04
    topcat,
    if you are doing bsn/msn (direct entry), you are not considered undergrad for the bsn when it comes to financial aide? the reason i ask, i am trying to finance an acclerated bsn with a private college. don't have enough money. may have to change plans, if direct entry will give me more money options.
    i am finishing my bs in finance. not going for a bsn, accelerated or otherwise, cause of the max out. i am applying to a direct-entry msn programs only because as a graduate student you get another $92,500 from the feds.

    otherwise, i have to start at the beginning, get an adn and then hope to be working somewhere that will pay for the bsn because i can't get loans otherwise. that's a lifetime limit, the $46,000.

    topcat
  10. by   mstewart
    For all your replies and the head's up on the max out amount. I did some ball park figures and i should be okay to take the extra they are giving me this year and still be okay to continue on to and ADN-and bridge BSN later. It is really sad (but kind of helpful) that I will be using the money for housing-basically. Oh well, maybe I can squeeze out a weekend at a cabin, too. I have to do SOMETHING for myself, right? After all, I will be paying for my books myself!
  11. by   Smile!
    Quote from luckymichelle
    I would love to find out more info on getting into a plan like described on the www.studentloanpeople.com website. What a great program for you Kentucky students! I'm in Wisconsin, but plan on moving to Tennessee right after graduation to be with my family and get out of the darn cold! Does anyone know how I can find out if there's a program like that in either WI or TN? I did a few internet searches and called my financial aid office, but neither were very helpful. :uhoh21:

    I have NO idea but if you find out anything, please pass it along! I live just outside of Nashville and that's right up my alley! What region are you planning to move to??
  12. by   luckymichelle
    How cool! My family lives on the southern side of Nashville, in Columbia. We really like Columbia, Spring Hill, and Franklin areas. I've got 2 step-sisters who graduated as RN's from Columbia Community College. If not for my husband's job here in WI, I think we'd be there now! I looked at so many schools in TN... Which are you attending/going to attend???? I miss Tennessee terribly.... My husband and I are going down next week for a visit, and I can't wait!!!! I'm so envious that you're already there! :chuckle
  13. by   luckyladyore
    Actually I decided to take up cosmetology while Im on the waiting list for thebachelor program Im at wits end!!!!! I need money while Im in the program its only one year and I can go to school while Im in clinicals I will have my A.A in one more semester! Still waiting

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