Paying for school!

[Princess_M83]

Ugh! I just got the worst news ever. I work for SSM and they have a tuition reimbursement program that prepays tuition for school, well my mother just called me and told me that they announced today ( I was off work at a funeral) that they have suspended that program and a ton of other things like executive raises and our 403 b match program and capital purchases and stuff. That really stinks, now I will have to attempt to get loans.

[Bashful814]

Yikes! That is a bummer. I am looking for loans as well. I don't plan to work while in the R.N program and don't know whether to get a student loan or a personal loan?

[jsnj2009]

hi guys.......i am just finishing up nursing school. I had to pay for everything(rent, tuition, etc)all by myself. I would immediately go to your school's financial aid department. They will guide you thru the process of obtaining financial aid, and they can advise you about private loans as well. I received stafford loans and also private loans thru wachovia and pnc bank. Best of luck!

[lktfry]

How do the private loans work? Are they the same as a stafford, where you dont have to start paying it back until after your out of school?

[CyclicalEvents]

Private loans generally go into repayment immediately, or shortly after the loan is taken out. The good thing about them is that they can have lower interest rates, so you'll end up paying less in the long run (assuming you make relatively low payments every month).

[jsnj2009]

hi...........u can defer your private loans until you graduate. I dont start repaying my private loans until 6 months after i graduate. The private loan is approved depending on ur credit score, but gets dispersed to the school and then gets sent to me. U can usually borrow up to the cost of tuition each year.(ex: if you yearly tuition is 15,000 including room and board, that is what you can borrow. That includes private and federal loans.)