Student Loans

Kiwi, BSN, RN · Jan 16, 2005

I applied for a private loan before I started school when I was still employed. I had no problem getting the loan approved myself. If I need more money later, I will prob have to find a co-signer.

Do you have to make monthly payments on it while in school?

jewelcutt · Jan 16, 2005

You don't make payments while in school and with many loans won't have to pay until six months after graduation.

Kiwi, BSN, RN · Jan 16, 2005

You don't make payments while in school and with many loans won't have to pay until six months after graduation.

Sweeet

TLC RN · Jan 16, 2005

Do you have to make monthly payments on it while in school?

At the time I applied, I had the choice to defer all payments, pay interest only or pay principle plus interest while in school.

TennRN2004 · Jan 16, 2005

At the time I applied, I had the choice to defer all payments, pay interest only or pay principle plus interest while in school.

I just graduated in May '04 with my BSN, and I got a quarterly update of my loan status- amount owed, interest, etc. The paper was not a bill, but it did tell you at the bottom if you wanted to pay the interest while you were in school it would help when you graduated to not accumulate so much to pay back.

One thing to remember about defering loans though. I did have 6 months upon graduation to pay back, but I looked into consolidating at a locked in much lower rate of interest. When I did this, part of the fine print was that you give up your 6 month grace period. For me, I consolidated about 2 months after graduation, so I only gave up about 4 months of my grace period, but it's something to keep in mind if you may be moving after graduation or take a while to get settled down financially.

JJRN · Jan 16, 2005

Aside from monies distributed directly to an educational insitution, what are options for cost of living expenses? No spouse income, little savings, and no work income...what do SRNA do in this position. Due to inexperience with education loans and the process, I wonder every day how the he** I am going to get by. Please help.

According to the websites of Sallie Mae and the other lender listed earlier in this thread, they distribute money directly to the college.

heartICU · Jan 16, 2005

Aside from monies distributed directly to an educational insitution, what are options for cost of living expenses? No spouse income, little savings, and no work income...what do SRNA do in this position. Due to inexperience with education loans and the process, I wonder every day how the he** I am going to get by. Please help.
According to the websites of Sallie Mae and the other lender listed earlier in this thread, they distribute money directly to the college.

They will disburse it to the school directly first, to satisfy and outstanding balances you have with tuition, etc. Then, if you have a negative balance in your student tuition account, your school cuts you a check. At least that is how my school does it, maybe others can comment on their experiences.

TLC RN · Jan 16, 2005

Aside from monies distributed directly to an educational insitution, what are options for cost of living expenses? No spouse income, little savings, and no work income...what do SRNA do in this position. Due to inexperience with education loans and the process, I wonder every day how the he** I am going to get by. Please help.
According to the websites of Sallie Mae and the other lender listed earlier in this thread, they distribute money directly to the college.

If you have good credit, and they allow CRNA programs as an approved health profession you can get private loans w/o a consigner...

http://www.teri.org/lp_health.html#

http://www.nextstudent.com/private_loans/healthcare_eligibility.asp

Also, my private loan was not dispersed thru the schools financial aid office. I think you can find lenders that will do the same. They did cap the amount I could receive for the year to the cost of attendance that the school sets for me. So, for example, the lender advertises you can take up to 45K per year but your school says the cost of attendance is only 15K, they will only loan you 15K per year.

Another example...

http://www.easnetwork.com/eas/TERI_Health_Prof.ASP