Funding the dream

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Specializes in PICU.

Sooo...

I have read and re-read the thread about sudent loans and it has been very helpful. I am wondering what people are really doing.

I have to maintain two houses, so the school budget just is not going to work. How does a person go abut finding loans above the COA? I want to stay a "free agent" so hospital stipends are not really my first choice. With the housing market the way it is (not good) I do not really want to tap into the home equity... Too old for the military...

I am sure there must be other people in similar situations. What are you doing to make it all work out?

Any ideas?

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Specializes in Trauma ER and ICU...SRNA now.

Do a search for private loans. You need loans that are not certified by the school. I posted some of the links that I applied in the loan thread.

Good luck

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Specializes in PICU.

Can a person use more than one of these sources? What happens if they do alert the school to the funding?

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Specializes in Trauma ER and ICU...SRNA now.

You can use as many as you can get, as long as it is for school related expenses which includes room and board. Just make sure you are picking loans that are not school certified.

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Specializes in ICU.

I went through Chase bank, if you go to there web site www.chasebank.com you can find out about student loans. However I found it very helpful to call and speak to a live person @ chase the number is 866-649-6276 , they were very helpful I think that the max is $17,800 that you can borrow a year. Sallie Mae also has a loan called the tution answer loan and the phone # is 1-800-749-9100 the max that you can borrow with that one is $24,000 a year. I hope this helps and I hope that all the info is correct, best of luck

Lindsey

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Specializes in Critical care/ER, SRNA.

Sallie Mae has a private loan, i forget the name of it, I took it out for 40,000. Keep in mind, the private loans are much higher interest rates, even with great credit. But with that said, peace of mind while in school makes it all worth it. Their loan is not certified by the school. I had to fax them proof of enrollment, but they do not talk with the financial aid office for anything. Good luck.

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The three loans that I have found that are all above the COA are:

1) Sallie Mae Tuition Answer loan which lends up to 40,000

2) Wells Fargo- forget the name of the loan but they will lend what your school calculates as the COA ( but they bypass the school and the funds come directly to you).

3) Chase which is like Wells Fargo- bypass the school and funds come directly to you.

Also, talk to the financial aid office. If you can show proof of stuff that isn't normally covered- child care, computers, ear pieces, palm pilots etc they can up your loan amt.

If you are the bread winner in the family sometimes they take that into consideration as well.

The private loans are based on credit history and you may need a cosigner. Also, they are based on salary and they want to see a check stub. Personally, I applied for all the loans I could get when I had a good salary so I don't have to stress over it in the middle of school

Good luck

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