I’m an incoming freshman for fall 2016 at Cleveland State University. I need loans to cover the costs because my mom can’t pay anything. I applied for some local scholarships, but I’m not sure that I will get them. I have to pay for everything on my own. My major is Nursing
Here’s the numbers-
Tuition:$12,682
Room&Board:$11,000
I got 2 scholarships from the university worth about $8,500, so my COA will be about $15,000. FAFSA said my EFC is 005138, not exactly sure what that means.
Anyway, I hear that many people get loans from Sallie Mae(although they have a bad rep). Where can I get loans from?
Your EFC means you will get a little, but probably not much as a Pell grant. Maybe $500. You will also get a Stafford loan directly from your school, probably $5500. The school may also have Perkins loans available for you. Ask your school first.
If your mother wants to take a Plus loan from the school, that would be the next step. Those would be loans in HER name though, not yours. If she applies and doesn’t qualify, then you’d qualify for another $4000 in loans, to you.
Work with your school first. You might get some work study, so you could work in the fall and use that money for spring.
The COA is $24k/year. Your EFC is $5,138. It’s used to determine whether or not you qualify for a federal Pell grant. It doesn’t sound like you do, so your net costs (COA - $8500 grant) are $15,500/year ($62k total). You can only borrow ~$5500/year (the federal student loan) so you’ve been gapped $10k/year.
If your mom can’t contribute anything, this school isn’t affordable. Your other posts mention that you’re from Texas. Are there any [community colleges](View complete list of Texas Nursing Schools) near your home that are affordable?
The unmet need would be closer to $14K, when other indirect costs are factored in (Books, transportation, miscellaneous expenses, etc.). Apart from ASN programs in Texas, are their any 4-year public institutions within easy commuting distance to your home? What about one of the UT branch campuses? University of Texas at Arlington, El Paso, Tyler, etc.?
You could do a ASN and do a RN-BSN Bride once you start working as an RN. You certainly do not want to take on high student loan debt as a RN, when there much more affordable options are available in state.
Jamrock411 is correct. The unmet need includes the federal student loan, so you’ve been gapped ~$15k, not $10k. I forgot to point that out. Did you apply to any local colleges?
There nearest CC is 30 minutes away, but I can’t commute because I can’t drive. Plus, public transportation is non-existent in Texas. That’s why I am going OOS to a school that is in a city with public transportation.
Can any of you recommend where I can get more loans from? I won’t do the Plus loan like someone above listed, because I don’t want my mom to take out a loan that is only in her name. I’d rather do private loans, since I would also be responsible for it and she would co-sign. Any reviews about Sallie Mae?
But if you went to a school in Texas that you could afford to live on campus at, with state aid and student loan, that might be an option.
You can only expect a few hundred in Pell, if you take out a $5,500 student loan and with the scholarship of $8,500 you will have $14,000. You need $24,000.
Public transportation exists in Texas. I don’t know if it exists near any colleges that offer your major, you would have to research that. I have had friends in the Houston and Austin area who have used public transportation (buses) daily to get to work.
“But if you went to a school in Texas that you could afford to live on campus at, with state aid and student loan, that might be an option.”
The schools in Texas on average have tuition at $9,000. The OOS school that applied to gave me an automatic OOS tuition waiver, so tuition would be $9,500. Pretty much the same price at the OOS schools as my Texas options.
@mom2twogirls I did a lot of research. The only places in Texas with some public transportation are Houston and Austin(like you said), but there are no schools in Houston with my major and I got deferred from UT Austin. So going OOS is my best option
I plan on moving to an apartment in my sophomore year, meaning I wouldn’t have to pay room&board costs for the remaining years. So, my main issue is paying the costs for freshman year.
Can anyone recommend places to get private loans from? :-S
@BelknapPoint From the research I’ve done about apartments in the area, there’s a large 1 bedroom apartment for $800. With a room mate, $400 per month. Food costs are irrelevant. I don’t eat much to begin with because I get full quickly
OP- with all due respect, even if you don’t eat much- surely you eat something. A prospective nursing student likely understands that good nutrition is going to be important for you to be able to stay healthy and function at your best.
We’re all missing the appeal of Cleveland for someone living in Texas who wants to be a nurse. So why not start at the beginning and tell us how you ended up at this point?
And we’re trying to suggest (tactfully but i guess it’s not working) that your financing plan seems risky. So we’re hoping we can get you thinking about some options that don’t have you living in that same apartment with that same roommate when you are 35 eating beans from a can because you are saddled with loans.
@blossom Lol, I didn’t actually mean that I would not eat. I just meant that grocery costs wouldn’t be extremely high. Here’s my process:
I looked for a school with a nursing program, public transportation in the city and is public(private schools were too expensive). Texas doesn’t have public transportation, you need a car to get everywhere. I can’t drive, hence the reason that I ruled out going to a CC(can’t commute). Plus, if I went CC route, I wouldn’t get scholarships from a university since I would be a transfer student. When looking at OOS, I made sure the school was in a place with public transit. This is how I found CSU. And, going OOS would be the same cost as an in-state Texas university
I won’t be drowning in my debt for years to come(I hope not!) I plan on working for the Indian Health Service for 3 years. They pay off $20,000 of loans per year, you just have to work at one of their locations.