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Borrowed the Max Amount, Need more...

Discussion in 'Financial Aid' started by GoldenDoggy, Oct 11, 2018.

  1. GoldenDoggy

    5+ Year Member

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    Hi, I borrowed the max amount that I can for financial aid for medical school. Any advice on what companies and types of loans to get privately? I have a car payment and paid for the student health insurance. In hindsight, I probably shouldn't have gotten the student health insurance ($4,300 a year), so now I am literally paying for it.
     
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  3. RangerBob

    Physician 5+ Year Member

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    Talk to your financial aid director. When I needed extra money I was able to get a budget increase (and borrow more in federal loans) for certain expenses, like car payments, insurance, etc.

    I will say you should be able to manage without having to borrow so much (I should’ve been able to as well, and wish I had borrowed less than the max amount allowed). Get a roommate, cheaper housing, ditch the gym membership, etc etc. MrMoneyMoustache is a great blog for students looking to manage their money better and live on less.

    $4300/yr in insurance is actually still quite cheap, and student insurance is typically quite generous. I pay about $2k a month for my wife, son, and myself.
     
  4. MD-2022

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    Credit card loan? Discover? Capitol One? Plenty of options.
     
  5. 12jas

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    I second the recommendation for MrMoneyMustache. Sell your car. Buy a bicycle. Stop living a lifestyle you can't afford.
     
  6. Saddleshoes

    10+ Year Member

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    Would you consider a part-time job?
     

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