Advice wanted!! :-)

Hey guys, it’s me again!

I posted a bit ago about my current situation and plans, wanting some advice on what I could do. Well, I’ve decided that I’m going to go with the State school instead of CC for my prerequisites. The state school is also one of the schools i’m interested in attending for med school, so I figure the better known I am there the better.

Here’s where my current advice seeking comes in to play. With my current job, I’m miserable. It’s retail, pays my bills but that’s about it. I thought it would be possible to continue working at my job and take classes, but I’ve been informed by higher ups that that’s not a possibility any more. I’ve been looking for a job in themedical field, as a receptionist or patient reception, but haven’t had any luck. Applied to 28 jobs in the past month and nothing! oof! For my mental sanity I know I need to leave my current job. I have the funds available to live for awhile without a job, but what I’m wondering about is loans.

I’m thinking going to school full time might be in my best interest right now. To do that tho, I would have to live almost completely off of loans for a year or two(two if I don’t get in to the courses I need on time). Does anyone have any experience with doing that? I’m young, relatively fresh out of college, so I know going back full time wouldn’t be overwhelming for me.

Really, guess I’m just seeking any advice on loans or getting my foot in the door! Thanks for readin!

Hey there! So I’m going to answer your question as uncomplicated as possible. You are able to take out loans for tuition purposes and living expenses. However, there are a few parameters. See below:

Parameter #1: If you are in year 3 or beyond of undergrad (including having earned a bachelor’s degree) the maximum loan amount (both subsidized and unsubsidized) is $12,500.

Parameter #2: The maximum that you can take out over the life of the loan (both subsidized and unsubsidized) is $57,500

Ex. If you took out $30,000 in sub and unsub loans during undergrad, you are only eligible for $27,500. Again the maximum is $12,500 per year. If you are going into a graduate level program, the maximum that you can take out is $20,500. The same rules apply to graduate lifetime loan amounts as well!

In answer to the other part f your question “is it doable?”, it can be, but you have to live very frugally.

I hope that this helps. PM me if you have further questions.

Private loans are also an option - I have gone this route - although the interest rates are variable and can go very high. So this is not necessarily the most desirable thing to do.

But for me, it was the only option in order to be able to afford going back to school full time and not work.

That said, for private loans you usually need a co-signer who has good credit. Just an FYI.

Best wishes to you, and keep us posted on your progress!