What do you think is the best type of loan for nursing school

Nursing Students General Students

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I am shopping around for a loan for nursing school. I don't qualify for financial aid (being middle class is not a good thing--we don't qualify for anything and we don't make tons of money either!). My credit is excellent, so I'd like to get the best loan possible. Does anyone have experience with this? Thank you for your help!

Hi 88POMME RE: When are you independent.

In my state you need to be either over 25, or can show proof that you live on your own (or have done so) for at least three years. check with your financial aid office. If your parents no longer claim you as a dependent on their taxes, and it has been that way for awhile you may be considered indy. Even if you live back at home and are over 25 or can show that you have indeed been on your own - you may be eligible to file a Fafsa as an independent. Definitely check with your school, there may even be an answer to your question on the FAFSA website.

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im just saying take out subsidized first (government pays your interest while you in school) then unsubsidized (you have to pay interest while in school) then parent plus loans. All these loans will be the LOWEST interest rate and and it is FIXED unlike private loans. Private loans are largely discouraged. You can do searches on the internet for better explanation. just stay with the government funding and you till be ok!

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I have 2 other degrees and I have never even dreamed of taking on enough debt to actually live on AND pay for the expenses of college itself...I've always had to find a way to work my way through school :icon_roll

I don't know what the attitude is for, but just because this isn't what you would do, that doesn't mean others shouldn't want to.

Besides, what are your other degree's in? From what I'm told by students in the nursing program at my school, it is VERY tough to make it through the program and work at the same time. It's only 4 semesters long but very intense. If I can make it through those 4 semesters not working or working part time, I will. Even if it means living off of a loan. My husband is trying to find a second job and if my part time job still doesn't bring in enough to pay the bills, something else must be there for me to rely on. My college expenses are paid for already through fl prepaid, so all I need is something to cushion me if we need money to live.

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If you are 25 years of age or older you cannot claim dependent. If you are younger than that, AND your parents claim you when filing their taxes, you MUST claim dependent because you are.

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regarding the wells fargo loans

i have to warn you. :nono: though some of the terms seem appealing. i received a wells fargo private loan and had to pay $50 in interest every month while i was still in nursing school. then when i completed nursing school, the interest rate was variable and shot up to 19.5%!!!!! i was paying $100 a month on a $5000 loan and about $10 went to the principle. :uhoh21: while my $14000 federal loan payment was about $20 cheaper than that.

i realize that people say that education debt is good debt. but, i am not a fan of wells fargo (in more situations than one) and they are very much a for profit company that try to squeeze every last dime out of people with interest rate and fees. i have found american eduational services company very fair and found their loan terms similar to that of the federal loan terms.

good luck and hope this helps :)

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Service cancellable loans are loans that are repaid through service. For instance if you work in some area of shortage you may be able to reduce your debt through government programs that reduce what you owe for the years of your service. Teachers sometimes do this if they are willing to work in inner city schools. Some rural areas have shortages of health care workers. You would have to check around if you are willing to do this and see what options are out there.

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Wow, IrishEyes. I will definitly steer clear of Wells Fargo's loans. That totally sucks. Thanks for the advice.:up:

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I just wanted to update...I just recently found out my school has a budge ofr $15K...So it looks like I WON'T be getting a private loan from Wells Fargo to help me cover my livng expenses!

What about the OP??? Did you find anyhing else new, or any new loans??

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I am having a HELL of a time trying to get a student loan! I have pretty good credit but i still need a cosigner, i was rejected for a student loan through pnc because i have to be currently employed?? how stupid is that?! And my dad was even rejected from one at Wells fargo - Thank god though after reading the above posts! lol - anyway, just wanted to vent. I am suppose to move into a new house in 2 weeks, school starts in a month, and i have no idea where Im gonna get all this money from :crying2: So stressful! I am currently waiting to hear back from Discover - hoping and praying that this one goes through!

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I have applied for FAFSA, and had a delay in the processing of my application due to some issues I had to clear up. however, those things have been taken care of, and now I am just wondering how long does it take to find out what, if anything, you qualify for??? I cannot get in touch with the people at the financial aid office and have emailed and no one will get back with me!!! I am getting frustrated and have to put in my 2 weeks notice for my job TODAY!!! I am just worried about being able to do this financially. I am going for my appointment at the job center for the WIA program which will cover all my school costs. I am just worried about bills and I am a single mother to a 4 year old. Anyone have any advice or guidance? Any helpful sites for loans outside of the FAFSA for students or single moms?

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Nicki - Usually after your fafsa is processed it takes 4-6 weeks to hear back from the school. You definitely need to talk to your financial aid office though, because they require you to submit all your w-2s and taxes, as well as your parents if you're a dependent. I was in a similar situation where things got screwed up - I claimed myself and then my dad went ahead and decided to claim me too :nono: - and i didnt know until the school contacted me and i had to redo EVERYTHING - taxes, paperwork, , ,uggh so frustrating. After all that it took 4 weeks and i got my award letter. Also - to get student loans you have to have already received your award letter. You will get your federal loan (if u applied) amounts then also. I highly recommend Discover certified loans - I finally found someone to loan me money! lol I hate this economy. I hope this helps :wink2:

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I just wanted to update...I just recently found out my school has a budge ofr $15K...So it looks like I WON'T be getting a private loan from Wells Fargo to help me cover my livng expenses!

What about the OP??? Did you find anyhing else new, or any new loans??

No, the OP has not found any new info on loans. I will be sure to post any new info that I do find though! :wink2: The only info I've got is what others have posted on this thread and I am grateful for everyone's input.

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