Any Students Planning On Using Loans For Daycare

6 Replies
Erin - November 4

I plan to take out as many student loans as I am eligible for to pay for daycare in my next year of school (tuition is paid by scholarships). I was just wondering if anyone has done this, and how it's worked out for you or if anyone is planning on doing this. It really stresses me out because I've never had to take out student loans before and I never wanted to, so I'd love some understanding and support! Tell me that it'll be okay!

 

Maggie - November 4

I took out loans to pay my sons expenses while I was in school. With the loans I was able to pay his child care and also pay some of my own bills so that I wouldn't have to work when I wasn't in cla__s. I don't regret it now because I have a career and can pay off my loans with ease. I think furthering your education is the best thing you can do for yourself and your baby. Get those loans without guilt and do what you need to do. Having the loan out is also a great motivator to stick with your studies because you know you need to land that good job to pay off those loans.

 

Erin - November 4

Thank you Maggie that makes me feel so much better!

 

the other side - November 4

yes, but be careful with those loans! Depends on your career choice. I have a MA, but work in non-profit. I am paying over $400 a month back in loans now, and that is for the next 30 years : ( I love what I do, but not much money it . . .

 

Maggie - November 4

Erin what is your major? I'm now a RN, and I live in nyc and I can afford everything. I went for government loans (perkins, stafford) because they only let you take a fixed amount per semester. Those loans are fairly easy to get if you have a child. Go to www.fafsa.com and check it out. To "the other side", doesn't working for a not-for-profit give you a public servent standing. You should really look into it because it can reduce your payback by like 30% or more.

 

Erin - November 4

Maggie, I'm trying to get a master's in occupational therapy. I live in San Antonio, which has a very low cost of living. I can't imaging paying $400 a month for 30 years to repay loans, hopefully I won't need to take out that much money. I talked to financial aid today and they're offering me stafford loans, but not a huge amount because on my last fafsa I was my husband's only dependent, hopefully with next year's after the baby is born I will receive grants as well

 

Maggie - November 4

Occupational therapy is a great field, and its very rewarding work on a personal level. My favorite part of my job is the interaction with patients. I was an MRI tech before becoming a nurse. Now that I'm an RN I can scan in hospitals and administer contrast. I'm not doing that now because I'm pregnant and I don't want to expose myself to the EMF of a hospitals MRI. I'm doing some consulting work for a private office now, and I still make really good money. Healthcare is definately the field to go into now. I would take the stafford loan, trust me they are not difficult to pay back. You should be very proud of yourself, and I know that as your child grows up they will be very proud of you.

 

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