Hello, all!
I hold a bachelor’s degree in biology and have recently begun an accelerated nursing program that allows me to graduate in 16 months. This would put my graduation at May of 2027. I also have my tuition, books, and other physical school materials paid by a state sanctioned grant program, with the caveat that I graduate by Spring of 2027 (and work in my state for a few years). This leaves my living expenses.
Unfortunately, I only have around $2,000 left before I reach the federal loan limit for undergrads, will be turning 24 in September so will be no longer able to take out Parent PLUS loans, and have a dad who is unable to co-sign on a loan due to poor credit and a mother who refuses to co-sign. I currently do work part time to make ends meet, but will likely have to quit working at some point due to the difficulty and rigor of the program.
I have a 686 credit score but I’m not sure where to start with private loans. This seems to be one of the only options I would have left to get by expenses-wise. I would not need a huge amount, just enough to help pay for my regular expenses eg. car insurance and gas as I am a commuter. Without a co-signer, is there any private loan option, or should I bite the bullet and forgo this program/try my best with working while in school?
Parents unable to help and feeling lost in private loan options
byu/ziploc_baggie inStudentLoans
Posted by ziploc_baggie
2 Comments
Since you mentioned that you are under 24, you’re probably a dependent student now. When you turn 24 and are an independent student, you will now have the independent student direct loans aggregate amounts, which are higher than the dependent limits. I’m assuming when you say you’re 2k from the limit, its the dependent amount of you are currently a dependent. I would definitely still take the federal over private if that’s the case.
Yes, definitely take advantage of new federal loan limits.
If you are someone who can use credit cards responsibly… apply and get a cash back credit card before you quit your current job.
As a nurse in training you can probably make good money babysitting kids with medical needs.