Student Loans and Childcare Costs

[cdietrich404]

I just submitted my FAFSA yesterday and also applied for the Sallie Mae Tuition Answer loan which I would use for what "free money" I didnt get, mainly childcare costs.

I received an answer of loan withdrawn?? What is that suppose to mean?

I am a SAHM with 4 kids, hubby is the breadwinner. I did not have a co signer.

What do I do now?? We do not have the funds to put two little ones in daycare so I NEED that loan.

OR

Does anyone know with Stafford loans for example, if there is any addiditional money left over, if the school sends it to the student?

Thanks

Cheryl

Future Nursing Student and Mommy to 4 kiddos!

[BBFRN, BSN, PhD]

Yes- you do get the leftovers on Stafford loans- both subsidized and unsubsidized. I would call Sallie Mae & see why the loan was withdrawn. Maybe you forgot to turn something in, or you aren't signed up for enough credit hours. They can tell you. Hopefully, you'll be eligible for some grants after the results from your FAFSA are sent out.

Some hospitals offer scholarship programs and loan buy backs if you agree to work for them after you're done with school. This could be a big help to you. The more money you get in grants & scholarships, the more you'll have left over on your loans.

You should also check your state BON website for any scholarship listings.

Good luck to you!

[Dream2BANurse]

I know how you feel. I didnt get enough aid to cover my tuition or books so I ended up out of pocket on that. My hubby is the breadwinner too and I have 3 little ones, which 2 are in school. I have worried myself to death over childcare, I have had a few offers from my family to help me and I am hoping they hold their end of the deal. So I completely understand where you are coming from. My school doesnt accept stafford loans so sorry I cant offer any info on that.