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CRNA Student Loans

So- student loans. 
 

I am starting CRNA in August. Preface I’ve been lucky that I’ve taken multiple travel covid jobs and have a good saving heading into school. 
I just received the statements for my financial aid offer from school after billing- and it’s basically exactly enough to cover my tuition for school with no extra. It’s doable with my savings but will be very very tight especially towards the end of the program.  How are CRNAs going through school without working at all? My loans at this point would not have allowed me to do that. 
I feel like from other CRNAs I’ve heard “don’t worry about the loans, the money is there and you can pay it back” but I am not understanding where people are getting these student loans from? 
 

Are they federal loans? Private loans? If I even wanted to take more loans out at some point to help with expenses what would I do? 

brookalyn, BSN, RN

Specializes in MICU/SICU.

Hi! I am starting next month as well. We have a savings that we are keeping for emergencies. We plan on living on my husband’s paycheck month to month. We decided to do the Discover Health Professionals Loan and forego federal loans. Advice given to me was to take out enough loans where you are not stressed because you will already have enough to stress about! 

Defibn', RN, EMT-P

Specializes in SRNA.

I took out the federal direct loans and the discover health professions loan up to the cost of attendance. Your cost of attendance should include living expenses. My advice is to call the financial aid office and get this sorted out.  

When I talked to financial aid they've basically told me I've already met the maximum amount allowed to be borrowed essential equaling 1,300 a month to live off of for the program as they've estimated 15,000 for living expenses for the duration of the program. 

Its doable, but I just am so surprised that there are so many people saying we can take out whatever we need to live off of but this is not at all what im hearing from Financial Aid. If I want additional aid ill have to petition to show why I need more for expenses that would only cover a laptop, travel expenses, or daycare 

 

Defibn', RN, EMT-P

Specializes in SRNA.

13 hours ago, Mnurse18 said:

When I talked to financial aid they've basically told me I've already met the maximum amount allowed to be borrowed essential equaling 1,300 a month to live off of for the program as they've estimated 15,000 for living expenses for the duration of the program. 

Its doable, but I just am so surprised that there are so many people saying we can take out whatever we need to live off of but this is not at all what im hearing from Financial Aid. If I want additional aid ill have to petition to show why I need more for expenses that would only cover a laptop, travel expenses, or daycare 

 

That's tough. Unfortunately, they do not usually include any money except for YOU. Childcare and the like are not usually included. Like for me, I have two kids and cannot take any more money out than a single 25 year old. The only other option I have is a personal loan and those can be hard to get.

Alwayslearning258, BSN, RN

Specializes in ICU.

I have a friend that was in a similar situation. He had no savings and got in. His student loans through fasfa covered just enough to cover the program. 
 

he took out Extra money for living expenses through a credit Union as student loans. It’s extra loans but it’ll get you through and can be paid back

The school performs a cost of attendance analysis factoring in living costs for 1 person, not for multiple.  The government bases the unsubsidized loan levels permitted from this.  You can go out and get extra loans from banks and other private lenders if needed.

I am surprised it's only 1,300 a month after tuition. Usually that just covers room and board, then they estimate personal, transport, loan fees, and supplies and tack that on as cost of attendance to increase the loan maximum.

Usually you can petition for more.

I am currently enrolled at Keiser University SRNA program and I can tell you that I take out 32k every 2 semesters and that is enough to live on without working.  You end up getting 16000 each semester. Plenty of money to take care of essentials.

If I had the money at the start I would have taken loans to pay for school and not taken any graduate plus loans (thats where 32k comes from)

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