Loans for living expenses?!

[rockexrolloh]

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 a community college 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!!

[goodstudentnowRN]

I took out t aloan too to help pay for my Tuition and I receive tuition reimbursement from the facility in which I work. I have work full time and do full time load. The only difference is my theory class is online but I have to go to the hospital for my clinicals. It is a pretty decent program and the Instructors are very receptive.

[JOHNSANGEL72]

I know you are under a tremendous amount of stress- I remember waiting to find out if I would be accepted (very stressful itself), and contemplating the costs of nursing education is a whole other strssor...isn't it? Look into as many different options that you can- dont give up or "reconsider your future goals", look how far you have come, how much you have grown, and how much you must care-and do you not care? I think you do to even post this question and want to become a nurse. There are many people out there who will give their 2 cents about your situation, however your character should not be judged here- this was a question on obtaining financial advice and ideas, not on whether you should be a nurse or not. I say search as much as you can while you still have time...afterall, once you are accepted to nursing school, and you start hitting the books- time is a luxury.

Good Luck and best wishes!

[Gravysgal]

Original poster- I was in the same boat as you last year at this time. I have a year to go and I am out. Due to medical reasons, I cannot work while in RN school. I took out two Tuition Answer loans through Sallie Mae. They will give you up to $40,000 a year if you qualify. The check comes straight to YOU not the school, so you can use it as you wish. Also, you do not have to repay it for 6 months after you graduate. I will have a large payment to pay back for 15 years, but with my salary and my other bills, I can pay everything and STILL have around $500 left at the end of the month. I figured out my budget to make sure I could swing it. It's doable.

There is a way. Good luck!

I started nursing school in January, I too took at a Sallie Mae tuition answer loan to help with the bills while I'm in school.

It was a decision I had to make for myself, getting a part time job would have been a waste because I would have ended up giving it all to a babysitter.

I know when I get out of school I will have to repay it, but I'm looking at it as an INVESTMENT in a better life for me and my son.

Good luck in what ever you choose to do.

[Asherah, BSN, RN]

I know when I get out of school I will have to repay it, but I'm looking at it as an INVESTMENT in a better life for me and my son.

Amen to that, sister! As long as a student acts responsibly and budgets accordingly to account for necessary expenses only (e.g. not new cars, LV bags and lobster dinners), loans for living expenses make sense!

[studyingcrna]

I worked while doing my nursing degree, and I would suggest that before taking out private student loans for living expenses, unless you know you will get a large sign on bonus from the hospital you plan to work for... but I would still just try to work through college. Good luck!

[twalt500]

Thanks for posting regarding your situation. I will be in an accelerrated BSN so I'm seriously stressing. Do you mind sharing what job you do at the Casino and how much you earn? I am already swimming in debt and not sure how to make it all happen. A late night job would be great for me since I'm a night owl especailly if the money is good. How much can you earn though? Please email me at [email protected]

thanks so much.

[Jeniya]

I am a working mother and a fulltime student and I took out a loan to pay my tuition. I choose this school because I am sure to graduate with my BSN. Once you do what you are told by the Instructors, you will be fine. I love my school. I have two jobs and take fulltime class.

How do you make this work with working and going to school? I am a mom and a wife. Do you have support or help? I am currently and engineer and not sure if I should do an adn or a bsn. I certainly don't want to be in school forever. I'd like to kick off my nursing degree ASAP.

[sarahmizzou]

No offense, but this statement says a lot about you, if this is something that would make you give up at this point, what makes you think that once you become a Nurse it's going to be easier? Nursing school weeds out people who aren't meant to be a Nurse.

For what it's worth, you should seriously reconsider your future goals.

I wish all the best for you.

I think they may be a little harsh. I think figuring out how you are going to live and pay for school are legitimate concerns. If your current job doesn't work around your schedule it may be hard to find another job with insurance and the same pay especially in the current economic climate. I know, for me these things play heavily into consideration because I have a mortgage and a family. Each person's situation is different. If you really want it, there will be sacrifices that you have to make: Less money, moving in with family...etc. If it doesn't work for you right now, don't give up just plan ahead for the next enrollment. Try to get some money saved up. Goo luck!

[seasonedrose]

Hi:

I am in the same boat also. I started a ASN accelerated program in January 2012 and will be done in October 2012. School is fun and I love it. I am doing very well. Now I am faced with finding money to pay my mortgage and other bills. I was working went from part-time to full-time and then to no time thanks to my former employer. Now I am faced with paying for my living expenses. Sallie Mae only loaned me the amount that would pay my tuition. I have not idea what is ahead. I am going to keep on moving forward because I have always known I should be a nurse. It is my calling. This is very stressfull, but I am determined. If anybody has any suggestions, I will welcome them.