Cost of living loans? Anyone use them? Help!

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I'm really starting to freak out about money! I'm a realtor and my husband is a welfare worker. I started back to school last semester after finally deciding I really couldn't be in sales for the rest of my life and I really need to do something meaningful(always wanted to be a nurse but was not to into the whole school thing!). Anyhow we'd just purchased a bigger more expensive house and had our second child before I decided to go back to school. Now I feel like I'm ruining my family by making them deal with what I've chosen to do. I really don't have to time to commit to working now that I used to. So that's my saga.

Does anyone has any advice to offer on private loans that might help offset the income we're losing with me in school?

I'd love any ideas!

Thanks!

sp

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I got a loan through my bank (Wellsfargo) called an Education Connection loan. It comes directly to me and it covers the cost of living expenses. I have 3 kids so there is no way that my husband's salary (he's military) could cover that cost, along with our regular living expenses, so the loan will cover the bases for us.

If I remember correctly, someone had also mentioned in another post that Sallie Mae has a similar type of loan that you want to check out. My sister also got one through her bank (Bank of America) for similar reasons (although she doesn't have kids).

Good luck!

Kristin

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Thanks!:) I'll check those out. Do you know about how much you can take out per year?

sp

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Specializes in Med/Surg <1; Epic Certified <1.

I applied and was approved for the Sallie Mae loan....I believe it was a min of $1500, max of $40,000, but you will fill out all the appropriate loan application information. The link is at:

http://www.salliemae.com/get_student_loan/find_student_loan/parent_loans/private_student_loans/tuition_answer/

If it makes you feel any better, I wish I could've done this while my children were much younger. At 3, they don't realize a lot of what they don't "have" in the way of designer clothing, the latest video game, or other material things. However, at 10, 14, & 18, my kids were acutely aware of things they didn't have while I was in school. Do it now! :)

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For mine you can take out up to $25K/year.

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