To BestVase7265

To BestVase7265

I got a little shocker today. I was approved for a private loan. The interest rate is 10.2% approximately. There are different payment plans I can choose and they have very slightly different interest rates.

It turns my $8,100 that I was approved for into a $21,000something loan. That is only for 2 or 3 semesters. The total cost for the whole program is about $17000.

I do not want to take on $21000 something for 2 or 3 semesters--12 to 18 credits, and the whole program is 39 credits. I can't afford that.

So I am running out of money. I have about $2400 in my savings and the total for the first semester is $2800. I have about $3700 in my checking, and each month right now I am $335 over budget. I get $1970 (approximately) each month from disability/SSA.

I almost signed the loan tonight when I saw on the first page of the loan, a stamp from the US Dept of Education. I cannot let the federal gov know that I am taking out a loan to go back to school.

The reason is because my student loan was forgiven by President Obama. Part of the agreement stated that I cannot ask the gov for another student loan unless my student loan is reinstated, I get a doctor to state that I am cured from PTSD, and I am taken off disability/SSA, which means no more financial checks from the fed gov.

I have improved greatly over the years but I am not cured. I don't care if they reinstate my student loan but I need the financial support. I'm honestly not sure if I am well enough to work full time and go to school part time. I did that to put myself through Gtown University, but I did not have PTSD at that time.

So I am stuck again. I thought the student loan would have saved me. But I don't think I can afford those repayment terms and for that length of time.

I'm 60 years old.

I don't want to live like a pauper the rest of my life. My goal was to live a comfortable life the rest of my life.

It feels like I either get a job that pays enough to pay for school or don't go to school until I get a job.

I have been looking for a job. I spoke to two employers who were interested but said they hired their students for the summer already. They said they'll talk to me in August.

I have applied for lots more jobs, but these were the only two employers who showed interest.

Thoughts? Please tell me what you think is the constructive route.

I think that is what my plan has to be. I have to get a job that pays enough to pay for school and can't go to school until I get that job.

Thank you.