Maxed out on loans- now what?

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Yep, my education may have come to a complete standstill and I may have to withdraw. Besides my education I have two kids also in college and am a single mom. Trying to transfer to a private college and I can get just enough aid for tuition only. This leaves me nothing for living or my long commute and I am fearing that I will have to drop out.

I have applied for the BHPR scholarship and this seems like the only way I would be able to afford to continue on my own studies. Problem is, they usually don't notify until AFTER school begins so I will be running blind for the first few weeks then would have to withdraw if I do not win it. Not a very good way to begin the year.

This late in the year are there any scholarships or programs left to apply for?

loans are not an option as I have just been deined for a few, probably because I have taken out so many for me and my kids. I am actually considering enlisting to get the tuition assistance but even that has to wait until senior year (I will be a junior).

I am beginning to feel like I have no options and scared my education may be over.

So does anyone have any advice for me?

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Specializes in Geriatrics, Cardiac, ICU.

You say loans are not an option? Even private student loans like Sallie Mae and Bank of America? They don't care how many loans you have out. For BOA, ask for the education maximizer and with SM use the tuition answer. Both of these are sent directly to you and do not go through the school.

The other option is something I just found out about and I'm a little ticked I found out so late, but it's through the WIA. You have to find your local Career Center and apply. It pays up to 8,000 dollars and you don't have to pay it back --just finish school.

PM me.

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I have tried both and they have denied me. Without a cosigner I am SOL. I have one thru sallie mae already for my daughter and evidently this year something changed and I am denied.

What is the WIA and this program you are talking of? I would certainly be interested in finding out more if it is available here in NH.

Thanks for your input.

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Specializes in OBGYN, Neonatal.

I was/am in this same situation and by sheer grace of God I made it through a three year program. I had maxed my undergrad loans for myself getting my BA. I do not qualify for personal loans b/c my credit and Hubby's is bad and we are working on that now. We had a previous bankruptcy so that was hindering us as well (we know it is our fault, we made mistakes).

So...I worked out by begging and pleading and writing letters to please be allowed to set up payment arrangements and they let me. So we were pretty broke but I made it through with payment arrangements and then applied for every possible scholarship. I spent a lot of time with the financial aid person trying to find scholarships.

So finally in my last year I got the scholarship to cover everything with a work obligation so Yay, I got it...but it was a long hard road.

Try every avenue you know and don't give up hope.

Beg, plead and cry if you have to (not on puprose LOL) but do what you can to let them see...you have children that you are helping get educated and you deserve an education too. Big hugs! Good luck and God Bless!

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Try fastweb.com - they list all kinds of scholarships you can apply for.

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Try fastweb.com - they list all kinds of scholarships you can apply for.

I have a serious question, has anyone thatanyone knows received a scholarship applying from fast web? I have applied to many on there and written way too many essays with no luck. Just curious if anyone knows anyone else who may have had better luck?

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Specializes in PeriOp, ICU, PICU, NICU.

Oh do I share your pain. I too maxed out and my solution was to drop to part time and finally I am in my LAST semester........good luck!

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Specializes in Psych, Assertive Community Resource Team.

I'm not trying to sound like a smart-ass here, but is getting a job an option? I know it sucks to have to work and go to school but there are lots of perks. I work full time and attend school full time but the upside is that the hospital where I work pays for part of my tuition. I have to pay for all of my school out of pocket so that helps quite a bit. Just a thought.

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Specializes in Med/Surg.

Is your childs loan in your name or are you just a co-signer? I don't understand how they can deny you a loan if you are only a co-signer on your childs student loan.

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What I would probably do, is sit down with your children and ask them to take out loans in their own name that will pay off the ones that you have. That is the only way.

All parents want their kids to get out of college debt-free, but sometimes this isn't possible.

It is much cheaper on your children if they take out the loans themselves than under the parent's names...student loans are better now more than ever with the terms, so it is something you may need to get into.

Remember when you co-sign a loan, you are treated as a co-borrower..there is technically no such thing as a co-signer anymore, and yes, you can get denied a loan depending on how many loans you have your name on.

Probably time for a serious talk with the kids.

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Specializes in Med/Surg.
What I would probably do, is sit down with your children and ask them to take out loans in their own name that will pay off the ones that you have. That is the only way.

All parents want their kids to get out of college debt-free, but sometimes this isn't possible.

It is much cheaper on your children if they take out the loans themselves than under the parent's names...student loans are better now more than ever with the terms, so it is something you may need to get into.

Remember when you co-sign a loan, you are treated as a co-borrower..there is technically no such thing as a co-signer anymore, and yes, you can get denied a loan depending on how many loans you have your name on.

Probably time for a serious talk with the kids.

:yeahthat: ... Completely agree, just couldn't think of a tactful way to say that. I paid my own way through (with help from scholarships and grants also) and wouldn't have dreamed about asking/letting my parents pay for my education. Still paying off the loan!:lol2:

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Specializes in future speciality interest: Nurse Midwif.

I highley recommend Astrive student loans. Go to www.astrivestudentloans.com .

The Good thing about them:

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-the loan amount can cover you whole tuition bill.

-the check comes to your hands NOT the school.

-If you have all your documents in (which are pretty simple)

you can have the check in just 1-week.

The Bad thing about them (in my opinion):

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-The interest rate is crazy high (depend on the persons credit, i guess)

-by the time your done with school the loan amount would have doubled or tripled depending how long it takes you to complete school.

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Bascially the same rules do apply just like any other loan...

you or the co-signer should have a resonable credit, and the loan does not have to be paid until 6mons out of school.

I know you mention you were denied with other loans, but I was in the same situation you were in, needing a loan really bad and I was denied with every type of loan, but when I tried this loan they approved me. Try this loan either by yourself or with a co-signer you might just get approved.

---let me know if you need any other info.

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