By
Lanee’ Blunt
Student
loans may be an option for entering a certified nurse assistant class if you
need financial assistance. It can cover the tuition, books and any other school
materials. The payment schedule usually won’t begin until you have graduated
and found placement.
Loan program
The
federal government is the best source for a student loan. The Stafford loan is subsidized; you will not
have to pay the loan back until after you graduate. They usually give students
a few months after graduation to start on the repayment which will give you
time to get a job if you aren’t working now. The federal government has very
low interest rates on their unsubsidized loans also, when compared to a private
loan the interest rates are much better. They also offer you the option of
consolidating your loans if you have more than one which makes repayment easier.
How to Apply
Go
to the Financial Aid Programs website and get the free application that they
provide on the site. You can download
the form or fill out the application online. You will need to create a username
and password. Write it down so that you won’t forget it in case you have to
come back and check on the status of your application.
Review
your information completely to ensure that you have answered all of the
questions correctly. Make sure that you have not missed any of the questions
and only skip questions that don’t apply to you.
Submit
the form. Write down any information that you may think is important.
Write
down your username and password. It will
take some time for them to process your application.When
you complete the application they will determine if you are eligible and
determine the amount you will receive.
It will be based on your financial situation and if you meet the income
requirement. You will have to provide information about your financial history,
income and debt. You
will be contacted about their decision.
Private loans
If
you have been turned down for a federal loan for whatever reason there are other
lenders that offer private loans. They
are offered at your bank, credit union or other financial institutions. You
have to have a credit review and have to pass it. A private loan will probably
have a much higher interest rate and won’t give you the flexible repayment
schedule. You also can choose the option of having automatic monthly payments
deducted from your bank account for repayment on the loan.
Tips
- Seek a federal student loan first before you try other financial institutions. The interest rates are lower and the repayment plan is more flexible.
- The federal government student loans have a deadline to apply, it will take time for you to get approved, so don’t wait until the last minute to apply for a loan with them.
- There is a great need for caregivers especially certified nursing assistants and if you have the patience and compassion that it takes to work with the elderly start right away. Don’t let a lack of funds stand in your way of entering the medical field.
References:
FAFSA:
Federal Student Aid Programs