I am currently in school but am to the point where I must quit my job in order to finish my degree up in nursing. But I am scared to death that I will not be able to take of myself. I have bills like everyone else but I have no money. I'm a paycheck to paycheck person. So with that said what can I expect out of my loans? Meaning, how much can you actually borrow if you don't work? And how do they determine what you need? My school say's I need x amount of $, I say I need more. Any information on this will be greatly appreciated.

I took out a loan for 7000.00 for one semester. I did not need that much but i took that much and paid bills with it. My school said i needed a certain amount also but like i said i borrowed more.

:) You would need to fill out a Financial Aid Booklet, called Fafsa, if I remember the name right. They will let you borrow quite more than you need, at a very low interest rate, and you can get them deferred for all reasons, and even they can be paid by some hospitals as a recruitment incentive.

I have been through all this. Just be sure to list every expense you have.......gasoline, laundry, food,
you-name-it, and go for the higher figure..oh rent, utilities, phone bill, textbooks, uniforms, and clothing expenses. They go by your income, versus your expenses. If you can get Grants or work studies, I would sure take the Grants....as they dont have to be paid back.

The repayment schedule is one you have a lot of flexibility in the amount and time period to pay it back. Also, realize your income will be going up significantly once you are licensed.

Best of luck to you!

Amanda8088:)

Yeap... once you get all of your financial aid awards (which lists everything you qualify for) if you still need more, go to your financial aid office and talk to one of the folks there. Worst case scenario, they refer you to someone for an additional loan that isn't under the federal financial aid. ALSO, your school might be able to make arrangements for a work study program or something of that nature.

Just DO NOT use your credit cards unless you have to!!! IT'S a BAAAAAD idea!!! *Experience speaking here.*

GOOD LUCK!!!
Jenn

i'm in the same boat myself...trying to go to school and pay bills, and it's not going to well. my school told me the same thing....maybe i didn't go about it the right way, i was very new to this whole going back to school thing. i'm also going for nursing...

All this finc aide stuff is so confusing and it adds a lot of stress I can't handle right now. So you all are saying that can get enough money to pay for school, my car, rent, all the way down to tampons? If so that is so so good. I need this to happen quick the next semester starts Jan 9th. I have filled out a FAFSA but I had to make a correction to it. I finally got someone at school to talk to me. She said I could come in this week to fill out a loan application. But how long does it take to get an answer? I need to plan very quickly. I need to give my two weeks at my job, and make sure I will be able to make it until I get a return check. Also I get like $3500 a semester (fall/Spring only) grant money, but that isn't enough; so how will that effect me getting loan money. My school says that's all I need but I can't possible live off that.

Oh yeah- Thank you ALL!!! I wouldn't have thought of making a list of all my expenses. And Mrs. Benji- I had actually thought about credit cards, I was already in doubt. Now I have crossed that completly off the list.

Credit cards are a last resort!!!

And yeap... it'll be around a month or so (depending on your school) before you get a "refund" check for the balance that financial aid pays. GOOD worry!!!

Do you have *decent* credit? The loan application decisions are pretty quick, and you can go through Sallie Mae and you, as a student, are guaranteed to qualify for $10k in loans per school year after your freshman year. (Assuming you haven't defaulted on any other student loans or other related monies and you haven't been convicted of a drug related felony.) If they don't suggest that, tell them it's what you want. It's regardless of your income and all. It's how I get $$ for my school....

Hang in there!!!

Jenn

I have okay credit. No bankruptcy or anything like that. I have a couple credit cards and doctor bills but for the most part I don't have a lot of debt. But I have concerns of needing a co-signer. Which I don't have one. I was able to get my car and everything on my own, so who knows. Maybe I'm worried for nothing. Wow- 10k is pretty good. I have looked at Sallie Mae and felt pretty good about them.

If your credit is decent, the loans above and beyond the Sallie Mae are very likely and I doubt you'd need a co-signer. You won't need one for the Sallie Mae ones... Just get your little butt to that financial aid office!!! :)

Jenn

wow, my financial aid office never told me any of this!! in fact, there's only one woman in that office that's worth a s**t!! why are they like that?? they act like the money's coming right out their pockets or something, and it really bugs me...

In the financial aid office at my school, you can set up an appointment with a financial aid person. You go over your financial situation with them and they give you the appropriate paper work whether it be public assistance (federal and state) or private assistance (sallie mae). They try to work it out with you...

I'm with Norma Jean, they are not a lot of help. I have got more help and insight from this website (MrsBenji) then anyone. Finc Aide office acts like i'm suppose to know this. But I am going tomorrow, so cross your fingers wish me luck!!! I'll tell you what happens, Norma- Maybe I'll be able to help you out once this is all said and done with.

Just one more question? (imagine that lol) When listing my expenses, how much is too much? Example for gas I use about $30 a week for just basic travel, but should I say $50-60?

My *personal* opinion is to OVER estimate your expenses because you can always drop the extra in a savings account and use it to pay back the loans once you know it isn't NEEDED, but don't get carried away once you get that check in hand.

:)

GOOD LUCK!!!!!

ANd get aggressive with those folks in the financial aid office. MAKE them do their job... be a pain in the booty and they'll do stuff just so you'll leave them alone! ;)

Jenn

lol! Okay thank you so much MrsBenji. You have no idea how much your help means to me. Only one person in my family has went to college and their Dad paid for everything. And the people at work had help from their parents as well. So you really have no idea how much I appreciate you taking the time to answer all my questions. The same goes for all you guys. THANK YOU!!!

I TOTALLY understand. Luckily, my folks helped me quite a bit the first time around... (I worked and paid my bills and stuff and they paid for tuition--after two years of signing student loans and stuff all over the place.) Now, I'm working to do it on my own to get another degree, so I've had to learn a lot of the info on my own.

Hang in there!!! You CAN do it!!! :)

Jenn

Yes, definitely over-estimate your expenses.

And it's not like a regular loan; you will never need a Co-signer!

I wish you the best of luck. Just go according to the form, and dont leave anything out, like health and beauty aids, precriptions, clothing, laundry, etc!
Dog food, groceries, medical expenses; Im sure u get the picture!

Amanda8088

Okay I did it! But I feel like I over did it. But really I don't think I over estimated that much when I break it down. I guess we just don't realize how much we spend.

Woooohooooooo!!!!!

YAaaaaaaaaH!! :)

Jenn

I still haven't heard anything! :(

Call and harass them!!!!!!

:)

Jenn

Well it's been a long and very tough last couple of weeks with the idiots in the finc aide office.:angry: But I got an answer....

I GOT THE FINANCIAL AIDE I NEEDED> YEPPIE!!!!!!!!!!!!!:D

I'm so excited!!:) LOL
I am giving my two weeks at work tomorrow and I start school as a full time student, job free Jan 9th!!:p

Thanks for all your help!!!!

YAAAAH!!!!!!!!!!!!!!!

I'm glad to hear that you won't have to figure out how to juggle work and clinicals and stuff!!!!

That's great!!!

And take a few days off in between to enjoy yourself!!!!!!!!

WOOHOOOOOO!!!

Jenn

I gave my two weeks notice today!! :) And I am so happy about it. I'm looking forward to school and really applying myself. Thanks so much you guys, you don't know how much you all help keep me sane through all of Life's issues.

WOOOHOOOOO!!!!!!!!

Doesn't it feel SOOO good to give notice!??!

Hang in there Sweetie!!!! YAH SCHOOL!

Jenn

I have only 5 more working days and school starts in 11 days :) yeppie.

I just had a quick question to add to this thread, I didn't want to start a new one, becasue it's basically the same type of question. I already get financial aid for my school as well and I thought that I couldn't get anymore, but from what I'm reading on this forum, you can. I've already filled out my fafsa and been approved for some grants and loans, but it is not enough for all my bills even with my part time job. My credit is not very good at all because I also initially made the mistake of using credit cards to help with school. Should I go back to the financial aid office to try to get more money? I think I've tried before and they said that I had the maximum amount of loan money that I could get without trying to get a private loan. What should I do? They have me as a dependent becasue I am under 25, even though I've been on my own for over 5 years now.

Tish02-
That is the same situation I have at my school. Because you are considered a dependent student, you can only get a certain amount per semester on your own (at my school it is only $1322 !!!) Because you are under 24, your parents are expected to get the other loans available to you. I think it is so unfair because my mom wont get a loan for me, and like you I have been out on my own for 5 years. You are still able to get a private loan, but that is about it. If your credit is low, you might require a cosigner. Unfortunately for me my credit sucks and I have no cosigner so i am stuck working 2 jobs to get through school. I hate the way this is calculated. How can they expect your parents to still support you at the age of 24? I think they just do that because they know we (under 24) probably dont make a whole lot of money and would qualify for all the grants. As it is now, i only made 17,000 last year and got $0 in financial aid. I have to try to survive on a $1322 per semester loan :angry:

Y'all... check with the Sallie Mae loans. They are not used with your FAFSA info but you should qualify anyway. It's kinda like a private loan, but virtually everyone qualifies for it.

Ask your Financial Aid office about it specifically.

GOOD LUCK!

Jenn

Thanks MrsBenji, I think I will try Sallie Mae first, I've heard about that before.

That is pretty much what worried me too. I actually got enough grants and gov. loans to pay for everything, but really it's a few thousands less of what I asked for. So in my case I would have to get a personal loan, I looked into Sallie Mae like MrsBenji said and I dont think you have much to worry about if your worried about your credit. I have to agree that it shouldnt matter what your parents make, because if your in my situation your parents can't/wont help you. Lucky enough for me it all worked out. Good Luck with all this. Oh yeah- I'm getting ready to do my FAFSA 2006/2007 wish me luck, because I need my grant and loan money badly.

Oh yeah I wanted to add that the sooner you all do your FAFSA 2006/2007 the bigger chance of you getting CAP grant money. I did my FAFSA 2005/2006 late Jan or early FEB and I was granted $1700 in CAP grant money. I didn't get that the year before. CAP money is first come first serve, not necessarily in need the most.

so how's school going, ya'll?? my 1st day back today, and it's going to be a hard one this semester!! ugh!! you guys let me know how it's going so i don't feel so alone in all this!!

It's a LOT of work but I'll pull through. I have actually only had 2 school days (today was a holiday) and I get forget the good ole internet classes I'm trying out this semester. Already at times I feel over whelmed. But we all get through this sememster together. Good Luck.--- oh yea- I'm still excited just tired.

While I may have got the finc aide I needed.. I still haven't got a check yet. I have contacted my school over and over again. "They say their looking into it". I'm stressin. I've not worked in nearly 2 months. I need my money!!!

A question for those of you who have gone through this... I am wanting to go to law school, which is very pricey... Can I actually get student loans that will cover all of it plus my living expenses (which are alot each month)?? I still have student loans from getting my BA degree???? Thanks for any info...

Yeap, I'm waiting on the couple hundred I'm still owed from my loans. For whatever reason, the disbursement from the loan company was late, and thus, added an additional month to me getting my $$ back to pay my credit card off from where I bought absurdly priced books, but oh well. Keep nagging them!!!!!!!

And Lisa, you can get student loans to cover most anything. Including higher degrees. Since law school does tend to be more expensive than under-grad, you may have to take out some student loans that are based on your credit history as well.

GOOD LUCK! Get to school!!!!

Jenn

You guys will never believe this, well yea you probably will but still. My school "forgot" to request the loan money from the lender. I still don't have a check and per my school and lender any student shouldn't have to wait pass Feb 21. HAHA!!! I was told I should have my money by Mar 2nd.....came and gone...no money. Then I was told Mar 9th.....waiting to see. I know that the money has been disburse, I can view that but still no money. This is crazy. Lucky for me, I have been very wise with the money I did have.

sounds like the financial aid people at my school, luckily, i had no problems this semester....

hi all i have a question about sallie mae. my school says that i am maxed out, they even bumped me to a bachelor program to get more money. however being a single mom with two kids i need more money. i did apply for sallie mae and am waiting for word. however my friend, who is in the same situation as i am, says that you can only borrow 14000 a year. so my question is does sallie mae let you take out more then that or are you only allowed that much from all money that you borrow with your grants? i need to know if i can go to school this summer or if i need to spend that tuition money on bills. thanks for your help!

Okay here's my newest problem with Finc. Aide for 2006-2007, hopefully Mrs.Benji can help me out.

I have to pay for one course this summer $300 (out of pocket). Then Next semester the cost of attendence has went from $8,000 to $12,000 (rough figures) and my EFC is $5700. I don't have $5700. So what are all my options? Grants? Stafford? Salle Mae? Is that right? I don't have a co-signer so that wont work for my neither. I'm trying to get my ducks all in a roll.

Thanks for all your help!

Yeap. You are pretty much on the money. My guess is that your grants have already been applied. More loans will be the option. Your financial aid might exceed what you need and cover the EFC, but with the hike in costs, it may not.

Do you know what all funding you are already getting?

Jenn

I'm back!!! With more financial aide questions. I have started a expensive private school and I need a loan. However, my credit isn't bad but it isn't good either. I have no co-signer. What do I do? Salle Mae??? Oh I did try to go through my bank after the manager encouraged me to... umm I was denied. :( I have only a couple weeks to figure this out help!

If you have no cosigner i do not know what to tel you. I am with DeVry right now and one of my options was to have them garauntee my loan. BUT if they did this i had to make monthly payments back to the school in the amount of 300.00 a month. I am not transferring to am public college because DeVry is $5000.00 a semester. The junior college I am going to transfer to is only going to cost me about 3000.00 total. So we are talking about a 35,000.00 difference.

I'm back!!! With more financial aide questions. I have started a expensive private school and I need a loan. However, my credit isn't bad but it isn't good either. I have no co-signer. What do I do? Salle Mae??? Oh I did try to go through my bank after the manager encouraged me to... umm I was denied. :( I have only a couple weeks to figure this out help!