Private Student loans

  1. I have been applying to nursing schools for the Fall 2007 semester. Since I only have a 3.4 gpa my chances of getting into a CC are pretty slim. I have applied to two private colleges. I have used up my federal loans so my only choice is private loans. Has anybody taken out two separate loans for each school year? One for tuition and one to live off of. I know it is alot of money but I feel that if I am ever to become a nurse this is the only way.

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    Joined: Oct '03; Posts: 382; Likes: 19
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  3. by   ICRN2008
    I took out a private student loan last summer because I had already maxed out on federal loans. I took out enough to cover tuition, books and parking. The interest rates aren't great and there's no deferment of interest, but it was worth it to be able to finish nursing school on time.

    If that's your only recourse, I say go for it. However, if you are able to work a little bit, it might help to offset the amount of money you have to borrow.

    Good luck with your schooling.