I’m 32 and have a Bachelor of Science in Psych. I currently work as a Recreation Director in a nursing home. I have enjoyed my job for years but I’ve thought about attending mortuary school for the past year or so. The issue is I don’t have money to pay out of pocket. Is it worth taking out a private student loan. Do not say financial aid as I am already trying that!
Should I take out a private loan to attend mortuary school? I already have student loan debt
byu/me_is_bridget inStudentLoans
Posted by me_is_bridget
2 Comments
Almost certainly No.
But you should provide more details for a more specific answer.
1. What is the cost of mortuary school per semesters? How long is the program?
2. Do you have excellent credit and a cosigner available? (FYI I have excellent credit and they still wanted a cosigner, even for a very small loan, because of preexisting student debt – and because they’re just like that. Why suck in 1 victim if they can get 2?)
3. When you say “trying” student financial aid, what do you mean? What is your EFC? Have you used Pell Grant before?
4. What do you already have in debt and what is your current payment plan?
5. What is the entry-level pay for a mortician and how does that compare to your current pay in this job you admittedly enjoy?
Definitely pay off your current loans first. Increase your payment as much as possible. Rice and beans for dinner.