PMI Question

[cori.contreras]

So I know it's quite a bit up money to attend pima medical institute, around 40k. SO if anyone has gone there, can you get student loans to cover the whole thing? I have loans from my bachelors (not nursing of course) and have no problem going in more debt because I know once I start working it will pay off but my question is whether you can get enough money in loans to cover the entire cost?

I'm attending an info session in September but I have also been contemplating the accelerated nau program b/c i already have a bachelors. The september date of the info session messes me up a bit because if I'm not going to pima I need to be enrolled in pre req's for the fall at a cc.

[rzyzzy]

It seems like I saw a post that stated the max loan amount for undergrads was in the mid $50k range - it really seemed like a crazy amount of money to borrow for the amount of earning potential you'll have when graduated.

The interest rate is the killer - If you get into the 6-7% range it's almost like another house payment, and afaik, student loans are all variable-rate...

[cori.contreras]

Yeah, I know how those student loan repayments are. I have a bunch in student loans from my b.a. from ASU. I am a young mom of two and my husband has a chronic back condition so the money making is on me and I think nursing would be a good fit.

To me it might pay off to be able to start right away and get going. As long as I can get loans for the whole thing I'll be okay!

Thanks!

Anyone else have any experience with pmi?

[KristeyK]

Not yet, but I did JUST finish getting all my ducks in a row for paying for it. Financial aid covered a VAST majority of it. I had to take out a 5k private loan to pay for it. (It would have been nothing, but my husband made a tiny bit too much last year for me to max out on the Pell Grant.) HTH!