taking out a loan for school am I wrong

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I decided to take out a 3,000 dollar loan in either subsidized or unsubsidized stafford loan this fall. I'll most likely get a unsubsidized loan because my tuition isn't 3,000 dollars. I decided to take out the loan so I can quit my job in order to focus on nursing school for my first year. I'm using the loan to cover my living expenses. I'm hoping to get a job as a cna around feb next year. Once the mbon processe my application and I finish my first semester this fall. Do you think I'm wrong for doing this? Has anyone else considered doing this or done this?

I take out loans, but it's not enough for me to live off of. I also babysit on the days that I do not have class and am looking for something on the weekend so I can supplement all of this and get by. I am single and have no support from anyone, so I really have no choice if I am going to do this. It's tough, but it will all be worth it in the end!

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How do you use those loans for living expenses? I thought they were paid directly to the school and only for the amount of your tuition and books for the semester?

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There are many different kinds of loans. Mine was paid directly to me. I got mine through Wells Fargo. Their Education Connection loan.

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Specializes in Ortho, Neuro, Detox, Tele.

I would take the max...the downside is that you have to pay it back, but it is an investment. 3000 bucks is a VERY small amount for bills, extra expenses, emergency fund, etc.

I wound up with about 28000 in student loans for 2 years. but without that AND working as a CNA, I would have been sunk. Do what you have to do to live.

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I just found out I was approved for a subsidized stafford loan which is great at least I don't have to worry about interest. I get the first payment the 29th and the second oct 6. Now I just have to let my job know I'm quitting. I honestly don't know how people work and go to school. I just started NS and boy it's a lot of work just to do one chapter of objectives. Good thing I'm not working the rest of the semester.

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Congrats !!

I know people work alot and are successful at school but some cant. As I said before be very frugal with your money. When you first get it it is easy to spend on things you dont really need because its in the bank, and then its GONE and your sunk. Some advise would be to pay your bills ahead as far as you can, say a few months of rent or car insurance. After that whats left divide by the number of weeks you have until your next loan check.

EX: if you have $1000 left divided by 16 weeks give you $62.50 a week for groceries and gas ( thats not much). Hopefully its just you and you like Ramen Noodles and Kool Aid :wink2:. This way you can insure that you have enough to get through.

Everyone I have meet in NS thus far is moniterily broke so your poorness wont stick out, mine hasnt anyway.

Good Luck

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I don't have to worry about grocercies thankfully. I did budget for my car insurance and bills. I'm going to be paying some off before I get the loan thanks to the help of my wonderful boyfriend. I intend to pay him back once I become a nurse. I only have enough money for a cell phone and about a credit card bill and gas per month. I won't have much left over maybe twenty bucks so I intend to be very frugal.

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Yeah !!!

You have a plan, and now you will be able to devote your time to studying... soon enough you and I hopefully will be a :nurse:....then we can buy name brand chips and soda !!!

Good Luck

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