Nursing School Loans
I have a 29 year old LPN who currently works in a medical office and loves it but, has returned to
Chamberlain School of Nursing to complete a degree for a BSN in Nursing. She has moved back with me to save money but, will need to quit her full time job to fully concentrate on school. She has some savings which she is currently using for tuition. However, said savings will run out shortly and she will need to get a loan of some sort. I do not know enough about that subject to advise her properly. Would you be able to steer us in the right direction? My house is paid for and I would be willing to co-sign for her. Any suggestions you would be able to provide would be so appreciated.
Terry Says
I hate for you to sign for her education, because it will come back to haunt you in your retirement plans. And private student loans for this purpose are more costly than Federal student loans.
She is an independent adult now, and should qualify for Federal loans easily based on her own financial situation. She will have to fill out the FAFSA form, describing her financial situation. But, her first stop should be the school’s financial aid office. They can let her know if there are special loan programs for nursing school, or if they participate in the HRSA (Health Resources and Services) program. Or they may even have scholarships or grants available.
Here’s a link to an article on SimpleTuition.com regarding loans for nursing students.
