I need a loan but can't get a cosigner

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Hey everyone, I need some advice. I am enrolled in a second-degree ABSN program that starts next week, and I thought that getting a private loan would be a bit easier than it is proving to be. My parents already cosigned on my first degree's private loan so they can't cosign again, and I need another loan to bridge the gap between what my financial aid has offered (they awarded me a $4000 subsidized federal loan) and the cost of attendance for my progam. I have exhausted all my other options including applying for scholarships, accepting my entire FA award, and working during school, so now I unfortunately have to fall back on a private loan. I need a $7,500 loan for the summer session (includes housing for a full year) but I can't find a bank that will give me a loan with my credit score (662 because of previous loans.) Does anyone have any advice or know of a bank that is willing to give a loan to a nursing student in need?

Specializes in Mental Health.

I mean if you can't afford it, you can't afford it. Are you able to move in with some family and live cheap while you go to school and work to pay off your tuition as you go?

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Specializes in CCU, SICU, CVSICU, Precepting & Teaching.
I knew a girl that striped during nursing school and she made a lot of money. She recently told she was thinking of going back since she made less money with nursing. I am not saying go strip but get a job

Striped?

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Specializes in SICU, trauma, neuro.
Striped?

Pretty narrow window of opportunity...once one gets old and biter, striping isn't so lucrative. :bag:

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Specializes in CCU, SICU, CVSICU, Precepting & Teaching.
Pretty narrow window of opportunity...once one gets old and biter, striping isn't so lucrative. :bag:

I suppose I should rule out being a "cam woman", too.

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I know it might be too late, but maybe you can defer your enrollment until the next cohort? Please keep us updated OP. Best of luck.

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And there's nothing the prevents your parents from co-signing... unless their credit scores are now torpedoed by that extra debt that they could be saddled with and hence must be taken into account. However, it wouldn't be wise.

The OP kind of insinuated that that was the case. Even if they could, they are under no obligation to take on that kind of risk; they would probably be wise to decline to co-sign for more potential debt.

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Specializes in NICU, ICU, PICU, Academia.
I suppose I should rule out being a "cam woman", too.

I have stripes....er....stretch marks. Does that count? :)

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Specializes in CCU, SICU, CVSICU, Precepting & Teaching.
I have stripes....er....stretch marks. Does that count? :)

I guess that makes you a "striper". Possibly you're not too old and biter to be a cam woman.

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Specializes in Med/Surg, Ortho, ASC.
Pretty narrow window of opportunity...once one gets old and biter, striping isn't so lucrative. :bag:

Lol! Good one!

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Specializes in NICU, ICU, PICU, Academia.

OP: Did you take any of the advice given here?

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Hey, OP, I dont ever really comment on anything, but I found myself in this same situation just three short weeks ago. Long story short, my school only gives "independent" (post-bac) students and allotted amount of money per school year, and since my nursing school runs all three semesters versus the traditional two, I had to find a way to pay my tuition quickly without getting dropped from my classes. Like you, i was not able to ask my parents or close friends to help me secure a loan so i felt hopeless for about a week until i stumbled across SixUp. Essentially, they allow you to request a loan by replacing the need for a cosigner with your past academic hx and your chances of being able to pay off the loan after you've graduated (good thing we're going into nursing, right?). The app process was pretty fast and they were super helpful along the way. They actually called and asked what i needed help with and offered me a few hundred dollars so i could buy the books i needed for my classwork and exit testing and whatnot (I know some people will say that was naive and i fell into the trap, but i was fully aware of what i was signing up for).

if you can, see if you can find someone in the financial aide office thats willing to take pity on you and throw some grant money or scholarhips your way; the smallest dollar can help reduce how much of the loan you have to take out. i had a family friend that found me a small two thousand dollar scholarship which cut my tuition in half. when my uncle heard that the rest of my tuition was only 2k, he willing paid that for me (in the expectation i pay it back as soon as i can), which made me only have to take out loan money to pay for my exit and licensing tests ---> The universe works in mysterious ways.

Of course, if it's not an optimal time for nursing school, then maybe it's time to take a break and work on your finances.

HOWEVER, every problem has a solution, you just have to be willing not to give up.

the hardest battles always come at the end of the war. Hang in there, and i hope you get this handled.

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