All nursing students are eligible for private loans and unlike the state based loans, students can avail loans from lenders of other states too provided
- You are enrolled in a certified nursing school for undergraduate degree program at least half-time
- You have a cosigner vouching for your guarantee
- Credit check of both, you and your cosigner passes
Private loans too can be applied online. First determine how much you will need to cover the expenses of education, tuition, travel, boarding etc and how of this is covered by your federal loan. Availing a private loan to fund your education and other expenses can be a very expensive affair. While applying for the loan, online or offline, you will need
- Social Security number
- Driver’s license
- Information about your cosigner
- 2 additional references
You do need to remember that once the loan is sanctioned, after completion of promissory note and other documents that the lender may request, the funds are sent to the account of your school. On receipt of sanction letter you must verify with your nursing school for specific disbursement dates towards each semester.
Sources of private funds
There are many banks and financial institutions that offer nursing student loans. You can also avail loans from private lenders.
You can also get in touch with your personal banking or financial institution or other student loan provider to see if they have any loans for students in health and nursing industry.
Loan repayment and tenure
Different lenders provide different repayment plans. Continue reading “Graduate PLUS loans for students doing their graduation”