Can I take advantage of Student Loans when I receive a Pell grant?

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Specializes in RN Internship.

Hi everyone

I was wondering if you can help me out!!! I currently receive a pell grant that pretty much includes all of my tuition and most of my books. And I have a scholarship that help with the rest of books; however, in the fall I will be starting the actual nursing program and because of the hours I will need to pay for before and after care for my children.

I've heard of people using there student loans for rent, food, etc. I'm just wondering if it is allowed for things such as day care? And will they even grant it to me considering pretty much all of my up front tuition and books is already paid for???? If so, can a figure out ahead of time how much of the Stafford loan I would actually need to borrow or do I have to take the full amount?? Thanks......any help is appreciated.

Cari

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I don't have an answer for you but I'm in pretty much the same boat. I will need loans to cover child care too. Hopefully we can get some good answers from some of the other members here. Good luck.

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Hi everyone

I was wondering if you can help me out!!! I currently receive a pell grant that pretty much includes all of my tuition and most of my books. And I have a scholarship that help with the rest of books; however, in the fall I will be starting the actual nursing program and because of the hours I will need to pay for before and after care for my children.

I've heard of people using there student loans for rent, food, etc. I'm just wondering if it is allowed for things such as day care? And will they even grant it to me considering pretty much all of my up front tuition and books is already paid for???? If so, can a figure out ahead of time how much of the Stafford loan I would actually need to borrow or do I have to take the full amount?? Thanks......any help is appreciated.

Cari

Were you offered student loans in addition to the pell grant?

My estimated cost of attendance for 1 academic year is set at $12,900 but my actual tuition is only around $8,000 or so.. I am offered loan amounts to cover the additional 4K or so that I need for additional expenses. For example, this year I got a pell grant (4K), seog grant (1K), and $1,200 in scholarships covering my tuition at a total of $6,200. I took out $6,700 in loans to cover the rest of my tuition, and the balance was given to me as a refund, equally dispersed over 2 semesters.

I believe the only restrictions on the loans was that I had to agree to NOT purchase a car with it. You should check your school for specific rules on what the additional loan money is supposed to be used for, but I say hey, if you have to pay it back you should be able to do whatever you want with it.

Good luck!

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Specializes in NICU.

I would definitely apply for the student loans! From what I have done, I pay the school with my student loans and then any extra money I receive I can do with it what I want, but I just have to remember that I have to pay it back once I graduate. I do believe you can get loans in addition to your Pell grant without any problems and you may even be able to receive the full amount, just check with your financial advisor. Best of luck!

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Yes, I have the pell grant AND take out a student loan on top of that since the grant won't cover most of my books and other things. Student loans are supposed to help out with cost of living which includes child care. Child care in your case (and mine!) is under the definition of cost of living while in college. Hope this helps!! :)

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Specializes in RN Internship.

Thanks so much everyone!!!! I just found out today I was awarded two more scholarships, so I may not even need the loans.

Just in case, I am meeting with financial aid next week. Thanks for all the great answers!!!!!

:an!: ROCKS!!!!!

Cari

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