Wellsfargo Medcap loan to help with cost of living, i.e. DAYCARE!

[mmw99]

I'm curious to know who has or is using private student loans to help cover their cost of living if they aren't working. I have two children and daycare is expensive, as is everything else in life. Their childcare is costing me 1300.00 a month alone, and I just can't swing it! How does the loan process work for most school? If I've already been approved, when do I receive that money? I'm just in a rut :/ I HAVE to get through nursing school!!

[nay2vp]

I don't have private loans, but I do get federal loans. In addition to grants and scholarships, I receive about $9000/year in subsidized/unsubsidized loans. They get paid out once a semester. I'm in a BSN program, btw. When I did my prereqs at the local community college, loans weren't offered.

[MeganJBear]

I'm using private student loans to pay for daycare. My federal and private loan $$ gets sent to the school, they take out tuition and other school fees, and the remaining money is deposited in my checking account on the first day of each term. From there I write a big check to the kids daycare. I have found that there is plenty of money available to borrow, you just have to be careful because it adds up quick. My kids will both be going to public elementary school in a few years, and instead of paying the daycare center I'll be paying back loans I used for daycare :)