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I am considering quitting my job to attend school full time. The program I am interested in is 40 hours per week, M-F for 2 years, and does not fit with any kind of work schedule at my place of employment.
I would probably have enough money to cover one year of living expenses but not enough for the second year or tuition. Can I get a student loan to pay for my tuition and my living expenses if I'm not working while attending school?

2006-09-17 11:30:58 · 13 answers · asked by *Kya * 1 in Education & Reference Financial Aid

13 answers

I think so but I don't think the money kicks in right away so it's good to have some to live on saved for a good while

2006-09-17 11:32:27 · answer #1 · answered by sweets 6 · 0 0

Depends what state you live in.
I live in Washington State, and yes, I quit working and receive financial aid to go to college, which is a grant not a loan. I receive child support and other income (not dshs). They go by your income (tax return) to decide how much aid you get; whether you just quit your job has nothing to do with it. Everyone is entitled to an education - how else can you better yourself? But of course, financial aid only lasts so long, and you'll still need to find a way to pay for expenses of course. Maybe a part time job, or however you can work it out.
I would definitely look into grants before loans. Talk to the financial aid advisor at the school you're thinking about attending. I still owe over 6,000 on a loan for attending B.C.T.I. which we all know was a bogus school that eventually went bankrupt. At least when I'm in college, payments are held off until I've graduated.

I love going to the local community college, and plan on transferring to a 4year when I get my AAS degree.

Anyways, good luck! :)

2006-09-17 11:38:41 · answer #2 · answered by kikisdragon 3 · 0 1

Student Loans are need based loans. That means that they don't give you money for your living expenses, only to cover the school's tuition. I strongly suggest that you get a part time midnight job or think of something that you could still keep some sort of job and still be able to attend the school that you want to attend full time. Student loans are calculated by your income and depending if you have dependents (kids). Don;t quit your job, cause the loans will not come close to covering your expenses AND tuition.

2006-09-22 12:53:59 · answer #3 · answered by Anonymous · 0 1

you can not only get a student loan but you can get various grants and scholorships. I'd look for the grants and scholorships first then the student loan last. Student loans are just that ...loans so you do have to pay them back...but you have a one yr forberance after you exit school to start paying them back. If you get a job right out of school...I would reccomend start paying them loans off right away. The reason I reccomend this is that the first year after you are out of school there is no interest on the loans. The loan agency will wait until the yr is up to even send you anything cause they don't make any money off of you in that first year.

Hope this helps

2006-09-17 11:38:44 · answer #4 · answered by Kenneth S 5 · 0 0

Yes, that is the reason for student loans: so you can concentrate on your studies. Also, you might be eligible for work-study jobs at your college. These are jobs designed around students' class schedules and are from 15-20 hrs/week. You can get more info at your Student Services advisor's office. Best wishes.

2006-09-17 11:34:42 · answer #5 · answered by Rhonda 7 · 1 0

Yes!!!

http://www.citibank.com
You must be signed up at school. Go to your Financial Aid Advisor and ask about applying for a CitiBank Loan to cover other expenses associated with school. Also fill out FAFSA.
http://www.salliemae.com
http://www.bankofamerica.com

How is your credit?

Apply for two loans no more and see what happens. Applying for too many will not look good on your behalf.

2006-09-17 17:24:18 · answer #6 · answered by Anonymous · 1 0

You can apply for loans and aide, but you better be ready to lower your standard of living..You must also worry weather it is an accredited program, if it's not you can only get private institutional loans. You need to talk to the school admin. and find out what they offer and weather they are accredited. They base the amount of student aide on the income from the prior year based on your taxes.

2006-09-17 11:42:53 · answer #7 · answered by pyxypower777 2 · 0 0

yes, they will. Just get a school loan. Most school loans can be worked out to be paid after a certain amount of time. Just know that during this time you will be charged an interest rate so try to shop around for a low rate that is also locked, so that it can't get higher.

2006-09-17 11:34:51 · answer #8 · answered by Rx 4 · 0 0

well the deal is you go off your last years taxes so if you made over like 25,000 you will not get a non interest loan. but you most likely can get a student loan to pay for your college. check with your schools admission councilor to see what options you have.

2006-09-17 11:33:58 · answer #9 · answered by gsschulte 6 · 0 0

yeh you can take loan from any bank and you can return it after getting job
it is called Educational Loan.
Just go and take it.i have taken full fee of my 4 year engineering degree and ill retun after my job i have taken also for my hostel.

2006-09-17 11:43:22 · answer #10 · answered by hemu_ma2001 2 · 0 0

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