Student private loan

Published

Hi everyone

i recently got my AA and applied for two programs. Unfortunately, my family is in a terrible financial situation and I have no choice but to use private student loans. I called some famous companies and banks and they said the school determines my eligibility based on my education cost.

We are a family of 4 with low income. I have two children age 3 and 1. Anybody has ever been in the same situation? They offered me Pell Grant and Stafford loans, but those are not enough since I have to pay for full time daycare for both kids while I’m in the program

1
Up Vote Up Vote ×
Specializes in Critical Care; Cardiac; Professional Development.

Generally speaking private loans are not available for this kind of expense, particularly not when you do not meet the financial and/or credit criteria. It isn't clear to me if you have a two year nursing degree or an Associates of the Arts in something else. If you have a two year nursing degree, go to work as an RN and stay there long enough that you qualify for tuition reimbursement. If you do not yet have a nursing degree, consider getting a CNA certification and go to work as one at a hospital long enough to apply for tuition reimbursement.

Sadly, I would never recommend to ANYONE that they finance cost-of-living expenses via student loans. Ever. It is just not a good decision.

1
Up Vote Up Vote ×
+ Join the Discussion