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Use student loans to pay off debt??

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by stigrl stigrl (Member)

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You are reading page 2 of Use student loans to pay off debt??. If you want to start from the beginning Go to First Page.

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At the uni I went to, on-campus housing was *much* more expensive than sharing an off-campus apartment and the food plan was not a good deal either. So one can't generalize that on-campus is always cheaper. To add insult to injury, the 'on-campus' dorms weren't anywhere near the libraries and lecture halls; some off-campus housing was actually closer to where you needed to be as a student.

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BabyLady is a BSN, RN and specializes in NICU, Post-partum.

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Schools around here are about $1500 per semester and meal plans are optional. Financial aid will cover that expense. It is also a dry campus, alcohol is not allowed on the grounds regardless of how old you are....they won't call campus security, they will call the local police and have you arrested if you are caught with it.

I have never lived in a dormatory when I was in a college where it was a "party every night". Dorms also have "quiet hours" that assist with studying, there is also the library...you can also pick your roomates.

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Living on campus isn't an option, I have a house (hence the bills). But after thinking long and hard about this, I am going to put off classes until I have paid off my car, which might take 2 years. I am still planning on taking my CNA class this summer so I am going to get a part time job doing that and get experience in the meantime. (Patience is definetly not my virtue- sigh. :uhoh3: ) Here's to hoping it works out in the end!

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17,982 Visitors; 1,351 Posts

I am so glad that I have found a thread to chat about this. For some reason I cannot get my hands on student loan money, its insane! I have 1 loan out for 1100. I just applied for another loan for 2500 and only got approved for 1200. The 1000 was during pre-reqs and the 2500 was supposed to be for my first semester of nursing school. Who can go to nursing school on 1200? Why with my no income, 3 dependant children, and good credit score was I not given the money I need for school? I have no other degree or job training, so no other loan history. My husband income doesnt even pay our bills, I have been going into debt while I am in nursing school because I dont work. How do other people get money for Nursing school ? I had to use a credit card or I wouldnt even be in the nursing program right now.

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I think many people apply for private loans. Are you getting subsidized loans or unsubsidized? The school should estimate your financial need and anything beyond that, you would need to look at alternative options such as private loans and maybe subsidized loans.

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5,951 Visitors; 136 Posts

I am so glad that I have found a thread to chat about this. For some reason I cannot get my hands on student loan money, its insane! I have 1 loan out for 1100. I just applied for another loan for 2500 and only got approved for 1200. The 1000 was during pre-reqs and the 2500 was supposed to be for my first semester of nursing school. Who can go to nursing school on 1200? Why with my no income, 3 dependant children, and good credit score was I not given the money I need for school? I have no other degree or job training, so no other loan history. My husband income doesnt even pay our bills, I have been going into debt while I am in nursing school because I dont work. How do other people get money for Nursing school ? I had to use a credit card or I wouldnt even be in the nursing program right now.

Have you filled out the FAFSA? I get full financial aid because my EFC is 0 and if its up to a certain amount (i think a little under 6000$) you'll qualify for loans but no grants...

also have you tried scholarships? SO MANY schools offer scholarships for a variety of reasons...because your an adult student with children and married, you can still find TONS of scholarships out there to pay for most if not all of your schooling!

Also, talk to your school about options...they may have payment plans (i know all the schools near me have payment plans and short term loans) and your financial aid office should be able to point you in the right direction regarding scholarships and other aid...

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3,835 Visitors; 210 Posts

I am so glad that I have found a thread to chat about this. For some reason I cannot get my hands on student loan money, its insane! I have 1 loan out for 1100. I just applied for another loan for 2500 and only got approved for 1200. The 1000 was during pre-reqs and the 2500 was supposed to be for my first semester of nursing school. Who can go to nursing school on 1200? Why with my no income, 3 dependant children, and good credit score was I not given the money I need for school? I have no other degree or job training, so no other loan history. My husband income doesnt even pay our bills, I have been going into debt while I am in nursing school because I dont work. How do other people get money for Nursing school ? I had to use a credit card or I wouldnt even be in the nursing program right now.

Do you qualify for stafford loans? They do not require credit however I believe you cannot be defaulted on any other school loans. Also there are lifetime limits.

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713 Visitors; 9 Posts

I feel a little freaked out coming upon this thread. I am not sure if I went about taking out my students loans "the right way" (I am $9500+ in student loan debt unsubsidized and subsidized). I took out a loan so I can focus on school instead of going to work. I used part of these loans to pay off my credit cards, and the rest towards rent, books, transportation etc. Instead of working, I am putting my time towards volunteer hours and research. I worked through practically of my undergrad (I have a BA), and got mediocre grades. I felt that work was hindering my performance in school. Even out of work, I still don't have great grades and retaking some classes to apply for Nursing school this year. :(

I have spoken with other RNs about their student debt, and their debt sometimes racked up to 100k or more. However, they do not regret taking out the loans. One male nurse I have spoken to has used student loans all through his undergrad and nursing school which racked him up to about 120k at the end of Nursing school and pays abut 900/month towards his loans. He is currently living in Wyoming, owns a nice car, has a baby on the way, two dogs, nice house recently got married - so the student loan was appealing to me because he is still living an idealistic life even under a big umbrella of debt.

I understand that it is better (and also very rewarding, big props to those who are getting those A's and working full time) to be working and going to school at the same time - but even taking these damn prereqs for Nursing school is a big challenge for me (and I am assuming many others too). I find that I shouldn't worry about the debt right now (and this sounds naive and maybe unrealistically optimistic) because I will find some way to pay it off since it is fully my responsibility to do so. Yes, it will be hard, but as long as I keep working towards my goal, I think it I can eventually pay it off. :S

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