Jump to content

Middle of the semester and I can't pay

Julip Julip (New) New

I thought I would post here since I'm all fresh out of options. Long story short, I've been trying to get into nursing school for a couple of years now, but due to the competition, have never been able to get an acceptance. I finally graduated with a degree in the liberal arts and applied to an accelerated 1 year program at a private school and was so happy to find out I was off the waitlist just before the semester started. I paid my deposit and enrolled.

I received no aid since I already have a degree and the federal loans were not enough to cover the tuition. I had no idea I would have such trouble getting a loan or else I would have never enrolled, but its too late now and I already owe them money. Are there any private loans available to low income students with a credit score below 700 (same for my cosigner)? I have applied to every lender I could think of but I'm getting declined.

What is your employment situation?

I work part time in a medical office with an hourly rate of around 16 per hour. I can't go fulltime because of my school schedule.

They do have payment plans, but it has to to be payed off in 5 installements; one semester costs about 18,000 after the aid im getting, so I wouldnt even be able to afford the monthly payments im afraid.

Did you know how much the school cost before applying? Why did you not accept the federal loan offer without having an alternative option? Even though they did not cover everything it would have been something to help in the mean time while searching for another loan. Just asking.

I actally did accept the federal loan - but its a limited amount since I already have a bachelor's; something like 15k for the year. This is a private school so that amount doesnt even make a dent in the tuition.

They do have payment plans, but it has to to be payed off in 5 installements; one semester costs about 18,000 after the aid im getting, so I wouldnt even be able to afford the monthly payments im afraid.

$18,000/semester for a nursing degree? Are you saying this private school was the ONLY place you could get into? I just feel like that's alot. When you applied did you know the cost and did you have a plan in place for how to pay for it? Is this an ASN program?

I'm so sorry you're in this situation as by the sound of it you really wanted to get into a nursing program. Unfortunately now it seems that you're enrolled in a program you can't pay for and won't be able to finish. Hopefully others will chime in with some suggestions as I can't think of any. Does the school offer any Scholarships? Mine offered some assistance to it's nursing school students, we just had to apply and pretty much everyone got some sort of assistance even if it was a small amount.

Edited by oluchika
additional question

It was my mistake for not researching it earlier, but I assumed since I got federal loans so easily, private would be no issue. This is a private bsn program for people who already have a degree. The schools in my area are super competitive; I applied to so many community colleges and honestly that wouldve been my first choice, since I can pay out of pocket (for most of it). I just don't know what to do at this point and I'm wondering if any other ABSN students were in my shoes before.

What state are you in?? Research some Grants and/or schlorships in your respective state. I had the same issue, but I applied for a grant through the Illinois Department of Public Health and THANKFULLY I was awarded the grant and thats how I finished paying for my last Semester of LPN school. Good luck and I wish you ALL the best of luck!!!!!

What about the Nurse Loan Repayment plan through the government or this might be the worse idea ever but what about a credit card.

I was thinking about putting it on a credit card, and then paying that off. But, my school charges 2.50% of the total balance if you use a credit card, so it would be much higher than it needs to be

How much would you be putting on a credit card? Unless you already have one, I would be really surprised if you could find a credit card with a credit limit that high, particularly with a low credit score and only a part time job. If you were able to find one, I imagine the interest rate would be very high. It just seems like that would create an ton of stress and debt:(

What state are you in?? Research some Grants and/or schlorships in your respective state. I had the same issue, but I applied for a grant through the Illinois Department of Public Health and THANKFULLY I was awarded the grant and thats how I finished paying for my last Semester of LPN school. Good luck and I wish you ALL the best of luck!!!!!

That sounds great, I'd much rather have a grant than take out more loans. Could you tell me more about the grant you received? I tried to message you but I don't have enough posts.

×

By using the site you agree to our Privacy, Cookies, and Terms of Service Policies.

OK