I should be starting my first semester of nursing school in Jan 2014. As many may know, the first semester is the most expensive. Right now I have a grant and a Stafford loan that will cover tuition and books. There are many start up costs that I have to have by Jan 7th such as scrubs, polos, correct shoes, stethoscope, extra books, CPR class, health screenings, 4 mths of health insurance up front and the list goes on. Also I am having to move from Houston to North Tx for school. I'm needing and extra loan for about $1,500. the ones I have looked into so far (Wells Fargo & Sallie Mae) go directly to the school and the school disburses it to you, usually 3 wks after school starts which does me no good! Also my credit isn't so good but I have a willing co-signer....anyone know of any good and easy loan places that will give money directly to me in a relatively short amount of time? Help!
Quote from misssarab.5
Thank you Purplelover...I'm trying to find one that's private and still considered a student loan so I don't have to pay it back till after I graduate...no luck so far.
PhillippaX50...It's a rough situation huh? Because your so excited about being accepted to nursing school but overwhelmed and stressed with all the start up costs!
The student loans no longer work like that. Even if it's a private institution the amount still has to be approved by the school and you won't get your money ahead of time. I'm trying to remember how I got over this hurdle, and actually I was working at the time and I just did not pay bills and used everything towards those costs and after I got my loans I got caught up on my bills.
In your case I would suggest approaching a community credit union (hopefully you are already in one). They usually have favorable interest rates for persons with credit issues. If you get a cosigner you should be able to get a small personal loan, however you WILL have the monthly payments.
To avoid this, accept the subsidized and unsubsidized loans your school offers.These are the lowest possible interest rates you will get. If that is not enough apply for a private student loan. Just know that Sallie Mae will easily give you a loan but the interest rates are pretty high. Anyways, by the middle of January-Feburary all your student loans should process and you will have an excess refunded to you. Do NOT blow that money. You then payoff the private loan from the credit union IN FULL. The remaining loans will not be due until after you finish school.
Your other option is to get a credit card with a $2000 limit from the credit union and to see if you can pay for things on that. Again your interest rates will be high, but I don't know of any nursing student with perfect credit either. And once you use it and pay it off cut the card up but keep the account open...to avoid getting into debt and being in trouble with your co-signer.
Last edit by ArrowRN on Dec 12, '13
: Reason: added info
Dec 12, '13
My school's first semester is 3xs the amount plus all of the start up cost...believe it or not, the next 3 are only $1,059-$1,528 for the whole semester, including testing fees, graduation fees and NCLEX costs. And my financial aid will easily pay for those and probably wont even need a Stafford loan. I thought all nursing programs
would be that way, guess not.
Last edit by misssarab.5 on Dec 12, '13
: Reason: quoted wrong