<p>I'm 22 and I have two semesters left until I get my AA in Healthcare Administration. I'm not eligible for federal loans so these would be private. The loan itself would be around 7-8k. The interest rate would be anywhere from 5-12 percent. Probably lower because I have good credit. I have a full time healthcare job, and have been going to school full time so I have experience and I'm responsible. 3.4 GPA. I'm just worried because all these student loan horror stories. Is it a good idea to take out that much and finish off my AA or just forget it and work my way up? The 7-8k would be for BOTH semesters. For my bachelors, I'm not sure if I'll need loans or my fafsa will be fixed by then. Any input would be appreciated.</p>
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If you can handle the payments, why not.</p>
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What’s up with your FAFSA that you can’t get loans? Taking private loans COULD be much more expensive.</p>
<p>Maybe international. I see that a lot here in NY. A lot of international healthcare workers, no green card, trying to get a degree. </p>
<p>I see no reason not to do so, though if you can scrimp without a loan, do so as long as possible because the interest is piling up the instant the funds are disbursed. Better to get those loans at the tail end of your endeavor, Hopefully, what you are taking will increase your earning power.</p>
<p>My son’s SO is trying her best to pay as much of her early tuition costs out of pocket for her master’s. The numbers come out so that she will be ahead of the game when she gets the degree, even staying where she is, in her health care field. But even with good credit, a stable job and a decent income, her rate is up there. when she appied. By scrimping and getting family to help out a bit, she’s got this term covered, and is hoping to do the same for the next. She knows that the courses are going to get more difficult and she may have to cut her work hours further as she gets closer to her degree, though her internship/work terms will be easy as where she works is an associated employer with the program and things might be worked out if she is still working there. But her interest rate was 8%, She needed $40K for this year, half of which she was able to raise, and she is hitting up family, and scrimping big time to pay this without a loan. She had saved some money towards this, and her company is paying something too. But she is bagging lunches and recently sold a few thousand dollars worht of things on Ebay, just to make ends meet this term, and is racking her brains for ideas to fund the next one. She figures she will have to borrow for next year, no way around it, but she won’t have the interest and the loan monkey getting heavier from the first year costs. The longer you can put it off–the borrowing, the better off you are.</p>
<p>If he’s an int’l, then how’d he do FAFSA?</p>
<p>OP…explain why you can’t get loans. Are you maxed out?</p>
<p>Or maybe your CC doesn’t do fed loans?</p>
<p>Where did OP say s/he did FAFSA? Or maybe the school required a paper version to be filled out for fin aid consideration of school funds even for those not eligbile for federal aid. Or the student could have back issues with aid or have a drug conviction. A number of reasons. </p>
<p>I feel better about loans as a student is closer to the degree or goal. Early on, you have more uncertainties and the interest cranking away.</p>
<p>Over the summer I took a class and paid for it with my own money. I withdrew from it not wanting to hurt my GPA. I did not need the class for my degree. It was just an elective. I assume this is the reason although I am still waiting for the school to call me back. They are being very vague on the situation. I really don’t want debt. I know I could probably afford it, but I would rather not deal with it.</p>
<p>I’m not an international student or a druggie. haha</p>
<p>It’s important that you find out the specifics of your financial aid issue, and what you need to do to regain eligiblity. I don’t know if this will affect private school loans, as they, too fall under certain government protections being school loans. You may have to go for a simple credit line or unsecured loan if that is the case.</p>