Cost of living loans and paying them back?

U.S.A. Indiana

Published

Hello all. I am applying to the nursing program this April for the fall. I won't find out if I am accepted into the program until this summer, but I need to fill out my FAFSA and am usually offered Stafford Loans to pay for tuition.

I don't know what to do about taking a loan out to pay for living expenses if I do get into the program.

Should I go ahead and file my FAFSA and accept the Stafford loan, then if I get in to the program, apply for another loan?? I'm so stressed out.

I can't work if I'm in the program, but I have a car payment, credit card payment, and groceries to pay for.

What kind of loan should I get to pay for all of these things? I go to Ivy Tech and the Stafford loans now barely cover my books and tuition.

Any advice would be great. I'm so stressed out, I'm about to just give up on nursing all together!! :o

I'm also worried about taking these huge loans out and then paying them back. I want to get my ASN then go onto get my NP license. I don't know how I'm going to pay back student loans plus continue my education.

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Hi,

There are several loans that you can get. Sallie Mae offers student loans as well as Stafford. You can have them with the option of deferred payments until you get out of school. I would not count on living totally on your loan money though. If you can work even part time ie: weekends- it would help out. A lot of people have to work when in the program PLUS school. If you think you are unable to do this- maybe waiting a year and doing some of the co-req's that year so that your load won't be so heavy. The more you can do before, the less the load/stress during school.

Definatley fill out your FASFA by the dealine date in order to quality for all your grants and such. There is also a website for scholarships ( fastweb)I would advise you to check that out also.

Your student loans do not become due until 6 months after you graduate school. So if you attend school for your RN and then go directly into BSN and so on, they are deferred until your out of school.

Nursing/going to school can be very stressful! Take a deep breath and you will be fine. But definately get the FASFA done and check out scholarships.

Hope this helps!

Good luck.

Brenda

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The Dept. of Health and Human Resources is offering an R.N. loan repayment program. You have to agree to work a certain amount of time in an area of need, which includes hospitals. The link is http://bhpr.hrsa.gov/nursing/loanrepay.htm

The application for next year isn't available yet, but there's a link to sign up to receive an email when it is. They also offer a scholarship program that pays your tuition, books, uniforms, etc., as well as a $1200 monthly stipend. The link for it is http://bhpr.hrsa.gov/nursing/scholarship/ Same thing about the app not being available yet for this year.

Hope this helps!

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The amount of money you get from FASFA goes up every year you are in school. So, the first year you are in school you get the least amount of money. I'm not sure how much it goes up though but you should get more. Check out the scholarships! I know Ivy Tech has a ton of scholarships for nursing students. LIke 2bnurse Elizabeth said. They do require that you work in Indiana for 2 years as a nurse otherwise you need to pay them back!

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Man,,, I just saw this! It says its too late to apply. Are there any more programs like this?

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Advice: Take all the loans you are offered and can get. Also apply for every scholorship you can find!

Nursing school is stressful and there are some of us that just cannot work plus go to school.........and school is much more important. I was lucky and had no young children but I cnnot imagine someone with young kids, working full time plus going to school full time= mental breakdown!

Sallie Mae will work with you if you have problems paying them back after you graduate. They are gpood to deal with from my experience.

Good luck

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It is possible to work while completing nursing school. I worked fulltime at a local hospital while getting my ASN. I graduated in May, bassed my boards in June, and was offered a job at another hospital last week. My work experience, though not in nursing, was a huge factor in me landing my first RN job. They loved the fact that I had worked at a hospital and had been exposed to that culture. They know that working in a hospital is where I want to be.

In addition to working, I also took out some loans to pay for my tuition and books, and a little extra to cover extra expenses so I wouldn't have to stress if unexpected expenses came up.

Look around for some jobs at local hospitals like unit secretary or registration. Often these jobs have flexible hours and allow you some time for studying while at work. Then you won't have to take out as much in loans. Plus the work experience will only help you in the end.

As far as paying them back, my motto is student loan debt is good debt. Remember, you are bettering yourself and an education is priceless.

Good luck!

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