"PRIVATE/ALTERNATIVE" LOANS for SRNAs

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Hi Guys--Do not mean to beat a dead horse here...Just wanted to find out from any current or newly starting SRNAs if they have been able to obtain Private Grad School loans for the 2008-2009 school year. I am starting in the Fall & starting to get a little nervous. I have read all the "stickies" umpteen times & I think I am starting to confuse myself more...Some of the websites I have gone to say "not accepting apps @ this time"...Would just like to know if anyone has secured private loan for upcoming school year. I know I need to get this taken care of while I still have a verifiable income/w-2...I will take any & all advice...Most of the loans say:"minus aid recv'd"--I will get my Graduate Stafford (approx 19K) but that's it. I will still need additional to cover living...Did you borrow everything the 1st year of school as far what you will need for the program?..I realize privates are based on FICO & mine is in order..I am just afraid private $$ may be drying up d/t economy right now---If that's the case does anyone have other suggestions they could elaborate on(i.e.--home equity, etc)? I am willing to hear all opinions & will definitely post the outcome of my $$ quest...I know I need the loans were check is sent "direct to student", but those seem few, far, & in between---Let's figure this out & all help each other out---The hard parts over--Now we just gotta pay for it & get er done!!--Thanks to all in advance!!!! :twocents::bow:

Specializes in SICU; Just accepted to CRNA school!.

I didn't see anything in that article that was talking specifically about the tuition answer loan?? It was all about Federal loans, not private.

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Specializes in Critical Care.

Not sure where you are going to school, but did you check with the CRNA groups for $. I don't know where you live but Sheridan is giving anywhere from 20-40,000 for 2 year contract after school. They are in 13 states. I am in the same boat, trying to fiqure out how to pay for my dream. Did you do grad plus loans?

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Well guys I said that I would keep everyone updated on the $$ search. Here's what's happened & it aint pretty. Finally talked to someone again at the FinAid office. When I asked my Total cost of Attendance/educ for my program I was told $28k...I was expecting a much higher figure, but I didn't say a word. I kept my big mouth shut. The lady on the phone was very nice, but after she gave me the figure she said: "Your unsubsidized is $19k which is very close to your full cost..if you decide to get an outside educ. loan it will have to be certified by the school-so you would need to turn down the unsub staffor b/c that would be too much"...Me:"Oh yes, I understand" What I was really thinking is: (But doesn't she realize this is an Anesthesia Program & I cannot work---I still have all the living expenses of a real adult--not the typical grad student??) I know we have discussed it over & over but--which Student Lenders (that are actually still lending) don't require certification from the school??? Which places do you guys know of that people actually used. I've searched them all too..but I cannot tell you any that someone actually used except BankOne & they are not an option anymore...What are some of you guys going to do for living expenses????

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I sent you 2 emails.

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Specializes in ER/ICU, CCRN, SRNA (class of 2010).

Citi bank and wells fargo offer private loans...I checked into wells fargo and they will give me 25,000 yr not sure about citi bank. The interest is high on private loan like 10-12%, but if you need the money.

-Smiley

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I chose to take the Stafford for $20,500 and the HELP loan (specifically for med students & graduate nursing students) of $10,000. I already paid a $1500 deposit, so the grand total for Fall/Spring is...drumroll...$32,000! Yippee! :vlin::grn:

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I just got approved for my Federal Loans through TWU. I dont have the information in front of me, but the amounts were like 22500 and 162000 per year.

The Grad Plus is for 24 months of the 28 month program, but the Stafford is for a 3 year period. I guess they mean the extra 4 months.

What I didnt ask, and some of you might know, Is for those last 4 months will i get a full years disbursement or some prorated portion of the 22500 that i was approved for?

Thanks,

GMan

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Wells Fargo and Chase both offer alternative loans that dont have to be certified by the school.

Wells fargo will give you 25k per year at a decent interest rate. Chase will give you 40k per year, but the interest rate is variable and CAN be as high as 12 %.

My question is since the Ft worth programs are 28 months, which is two full years and part of a third year, would the disbursement be the same for the third year? Or would I have to take out all the loans I needed the first two years and make them stretch to the 3rd.

I know the Stafford or Grad Plus (not sure which) is a 3 year disbursement, but even so do they disburse the same amount every year?

Gman

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Hit a snag on the Chase Private Loan. The most they can loan is 17800 based on what the school certifies as the cost of attendance.

So I called the Financial Aid Office and asked if I could take out a loan from 2 or 3 different lenders to reach my needed amount and they said yes.

So Ill take some from Wells Fargo (they dont care what your school sets as a limit), Sallie Mae and Chase. Between the 3 of them I should get what I need.

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Specializes in CVPACU, CCU, ICU.
Hit a snag on the Chase Private Loan. The most they can loan is 17800 based on what the school certifies as the cost of attendance.

So I called the Financial Aid Office and asked if I could take out a loan from 2 or 3 different lenders to reach my needed amount and they said yes.

So Ill take some from Wells Fargo (they dont care what your school sets as a limit), Sallie Mae and Chase. Between the 3 of them I should get what I need.

Just curious - out of Salli Mae, Chase, and Wells Fargo who had the best interest rate?

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Wells Fargo is 5 plus prime. I havent taken out the other two yet. My school is still negotiating with chase (its supposed to be outside the coa).

So steepish rates and they are variable too. Im doing the Army Reserve thing so about 80k of it will be taken care of. Im hoping whoever I work for after school will pay another 30k or so of it.

Best Wishes,

Gman SRNA

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Hmmmmm, keep negotiating.

I know that credit history plays a part, but as a student, banks often are graceful with loan rates.

My school's financial aid letter puts cost of attendance (per year) at just over $75,000.

I'm going to let my spouse work :-) so I won't borrow room/board amounts...so my goal is to borrow $50,00 per year (that will cover tuition and fees).

$20,500 Stafford (sub + unsub) and $29,500 Private loan.

I have decided to go with Citibank (CitiAssist loan) - and they have approved a rate of Prime MINUS 0.5%.

Have you looked into Citibank?

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