Extra Loans?

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gozes

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( A bit of backstory to paint the picture)
So I'm in a bit of a financial situation. I'm an M2 who is one of the two people in my class who doesnt yet own their own car. I get 0 help from home financially. I also dont have any scholarships unfortunately.

I've pulled out the max amount of government loans I can pull out, and I can afford all of the expenses of second year, but not the entirety of the car. And im not lookng for a really nice car, but it needs to last me at least 3 years.

Does anyone have any suggestions on what to do? I've been looking at some bank loans designed for medical students but since i technically already have the cost of expenses (aside from getting a car) covered by government loans, I dont qualify for those ones. Are there extra loans I can pull out besides those?

Any helpful input is greatly appreciated.

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Does your institute have an associated credit union?
 
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Yes it does.

Then it's possible to get an auto loan from them for a reasonable interest rate.

EDIT: Unfortunately I just realized you wouldn't be able to defer the repayment of that type of loan. So scratch my original question.
 
Try talking with your finaid office to see what they can do. Often, they can get access to a loan that isn't publicly advertised. Good luck!
 
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How much do you have available each month to put toward a car payment? Do you have anything that you can cut from your expenses? You can find a lease on a small car for $150-250 a month with $0 down.
 
We were in a similar situation while we were in school, including the part that we just needed the car to last while we were in school. We ended up taking out an auto loan with a local community credit union. Our interest rate was 2.94 which was at least half of any student loan we have. We bought an older toyota for $5000. Our monthly payments were just a titchy under $100 which made it easy for us to rework out budget so that we could make ends meet (since we were also living off of student loans). Not an ideal situation to be using student loans that have a higher interest rate to make a payment on a car with a lower interest rate, but if you are in a bind, that is an option while you are in school.
 
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