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Graduate student loan question

Posted on 6/28/16 at 7:22 am
Posted by crazytigerfan69
everywhere
Member since Apr 2004
5702 posts
Posted on 6/28/16 at 7:22 am
My wife starts Nurse Practitioner school in August and we are looking at student loan options. My question is does anyone allow you to borrow more than the cost of tuition? We would like to borrow a little extra to pay for books, fees and help supplement her loss of income from working less.
Posted by cfa626
Member since Apr 2016
561 posts
Posted on 6/28/16 at 8:24 am to
Yes, you will be allowed to borrow up to the "cost of attendance" which includes living expenses.
Posted by anc
Member since Nov 2012
18169 posts
Posted on 6/28/16 at 8:57 am to
You can borrow $20,500 per year for grad school. It works different than undergrad, the cost of attendance deal isn't as big of a deal.

And if you work for a non-profit hospital (university, religious) for 10 years and make the minimum payments, the balance is forgiven.


This post was edited on 6/28/16 at 9:00 am
Posted by Costanza
Member since May 2011
3155 posts
Posted on 6/28/16 at 2:41 pm to
Are you employed? Are you capable of covering any expenses over the cost of her tuition? I'd do anything possible to borrow as little as you can.
Posted by saderade
America's City
Member since Jul 2005
25754 posts
Posted on 6/28/16 at 3:17 pm to
She should be able to work while in NP school.
Posted by jim712
Baton Rouge
Member since Aug 2006
1518 posts
Posted on 6/28/16 at 11:49 pm to
Student loans can potentially wreck your financial future. If you take them to term you'll be paying back around 300% of the original loan
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