Financing an MSN: Looking for Loan Recommendations

[aposseadesse]

Now that I have submitted all of my applications for graduate programs and am waiting to hear back I've restarted my research on options for financing my graduate degree.

I've already completed my FASFA and am entertaining the idea of transferring my 401K into a 529 student savings account but it won't be enough to cover my expenses. I would like to avoid using my 401K but am prepared for the possibility of needing to tap into it.

Both of my top choice schools are $80,000 plus total. I am also still paying back on my existing loan from my undergraduate loan. Once I enter a program I will also quit my job to focus 100% on my education and future career.

Are there any specific loan providers any of you (current nursing students, nursing graduates) would recommend looking into? So far I've come across personal loans with SoFi, Wells Fargo's MedCAP, health professionals student loans through Discover, and CitizensBank.

I am also looking into the NURSE Corps scholarship program and other scholarships.

Any thoughts/recommendations are greatly appreciated.

[_meglynn]

Hi! I have an existing private loan with Discover for my undergraduate degree. It accumulates a lot of interest daily. There was one time I did my monthly payment and the next day it accumulated $23 per day. I feel like I haven't even touched on the principal because I have been paying the interest. At this rate, it will take me an arm and a leg to pay off this Discover loan. So I would stray away from Discover in my opinion. I hope that helps!

[aposseadesse]

Thanks for the heads up!

[Lunah, MSN, RN]

Have you calculated how much your debt will be when you finish and if you will be able to afford the payment? That's a substantial amount of debt, yikes!