another loan question

[NurseSN45696]

So I'm able to get a student loan through sallie mae or wells fargo, whichever. However, all those loans have to be certified by the school. Well the school will only certify my cost of tuition...not living expenses.

So I'm left to take out a personal loan, likely above 10% APR, for living expenses (bills, rent, food), maybe around 10k. Payments generally start around 30 days after disbursement. How am I suppose to make monthly payments on that private loan when I'm not working and in nursing school? FYI, my school does not allow us to work in the ABSN.

[nurseprnRN, BSN, RN]

Then ... you're hosed. Them's the rules.

If you have a long relationship with your bank, you could consider making an appt with the loan officer to discuss a different loan format. Or you could put off school a year, work your butt off, and save enough money to live on when you return to school.

I assume you have made every attempt to minimize your living expenses-- shared quarters with other students, public transportation instead of a private car, cutting down partying, movies, and other forms of optional recreation...

[KelRN215, BSN, RN]

Living expenses can generally only be paid through a student loan if you are an ON CAMPUS resident. Those are the rules the school has to abide by. They have no way to certify your rent or food as they are not billing you for it, as a university would be if you were an on-campus undergrad.