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Loans to cover cost of living?

Forum: Student Mommies


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July 2nd, 2011, 01:21 PM
Mega Super Mommy
Join Date: Oct 2008
Location: Loving Life In Maine
Posts: 1,817
Hi Ladies! I am new here and was wondering if any of you have experience with taking out loans for cost of living expenses while going to school full time?

A little background:

DH & I both work FT. We have a beautiful little girl who is two and we are also TTC #2. Ever since I was 6 I have wanted to be a nurse. I went to college for two semesters and dropped out as I was trying to work and go to school and found it too difficult. I have made a decent living but still want more. I know deep down that I cannot handle going to school and working FT- esp. since I'm now a mom. I have heard of people taking out loans to cover their cost of living making it possible for them to go back to school FT, any of you have any insight for me? Any and all would be greatly appreciated!
Ashley ~ Wife to Trevor, mom to Bailey & Aubrey
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July 3rd, 2011, 10:45 PM
Thismamaisonherway's Avatar Mega Super Mommy
Join Date: May 2011
Posts: 1,614
I just recently took out student loans to cover my living expenses as my job was way too stressful with my current pregnancy. Loans are part of your financial aid package. You should fill out a FAFSA and when the school you choose to go to is notified of what type of package you are eligible for, they will tell you if you can take out loans ( dont see why you wouldnt be able to ) and how much is available for you to take out any given semester.

Talk to financia aid they are usually pretty helpful and GL!!
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July 4th, 2011, 12:06 AM
Join Date: Jul 2010
Posts: 46
Yes! You gotta do whatever you gotta do to get through esp in this crappy economy! My husband and I BOTH took out student loans, grant, and financial aid for 5 years (with one child now 3 1/2 and me pregnant again due in aug). There was no WAY for me to work and utilize childcare with school on top of that too. So we took out loans (Rt now are loans are under 60,000 range which is not much for 5 years of living off of) We used WIC, foodstamps, and low cost childcare through the GAIN program.

We've learned how to be VERY resourceful with nearly nothing to our names. Either way it's a butt load of stress both going through at the same time (just saying it like it is) but hey my hubby's student loans are "hopefully" forgiven when he lands his first job and mine can be put off till I find a job as well (due to the two kids...FASFA will work with you on your situation)
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July 7th, 2011, 11:53 PM
MountainMomma's Avatar Platinum Supermommy
Join Date: May 2007
Location: Southern Iowa
Posts: 23,407
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I am glad to see that we aren't the only ones in this situation. My husband and I are both in school full time. We both received full Pell, we were awarded small scholorships as well, so that covered the expenses of our actual schooling, but we went ahead and took out loans to cover our cost of living.

As an earlier poster mentioned, you learn how to be resourceful and you have to create a very strict budget and stick to it, but it can be done. Just remember that anything you take out will have to be paid back eventually, so do yourself a favor and don't take any more than you absolutely have to.

Thanks to Jaidynsmum for my new siggy!

Click on my blinkies to tour some of my favorite boards!
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August 12th, 2011, 11:25 AM
Super Mommy
Join Date: Oct 2010
Posts: 555
Between my student loans and pell grant, we manage to make ends meet without me working.
Mom to:
Quinn - 10
Gavyn & Kendric - 8
Joseph - 18 months
Step-mom to:
Kiersten - 8
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