Loans for Living Expenses/Boards

[dabake]

So my only source of income during med school has been public loans disbursed at the beginning of the semester. Due to having to still pay off pre-med school expenses along with a couple unplanned large expenses this semester, my bank account is dwindling quickly. Its getting to the point I'm wondering how to cover rent and living expenses, let alone pay to schedule the two boards when it opens up in December. I talked to my Fin Aid department and since I took out the full COA, they are unable to certify any loans from the major private loan companies. I'm also fully independent and my parents are unable to help. Does anybody know of any loans that would be ideal for this situation?

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[BorntobeDO?]

So my only source of income during med school has been public loans disbursed at the beginning of the semester. Due to having to still pay off pre-med school expenses along with a couple unplanned large expenses this semester, my bank account is dwindling quickly. Its getting to the point I'm wondering how to cover rent and living expenses, let alone pay to schedule the two boards when it opens up in December. I talked to my Fin Aid department and since I took out the full COA, they are unable to certify any loans from the major private loan companies. I'm also fully independent and my parents are unable to help. Does anybody know of any loans that would be ideal for this situation?

From your family... Others might suggest opening one of those 18 month interest free credit cards, but that is risky when you are already hemorrhaging. I might do that to get me into the next semester but the first thing I would do is pay it off. Pay off living expenses before you even touch loans for other stuff. If your unplanned expenses are car related, your school will be able to increase loan amounts.

Just my 2 cents for avoiding this problem: Always pay rent in advance till a month into the next semester (i.e. if loans come in august, pay up till feb). When loans come in Jan, pay thru whenever you need to stay in school till (for instance thru June for Boards). Roomates would be a great option if you don't have any, but it will be hard to find now.

If you have to, break your lease and try to move into one of your classmates house for less. Goto every meeting you can for food, and live on PB and J. You lifestyle needs to match what you are being given for loans. House, Water, Electricity and food always come first.

 

[ortnakas]

Financing After School – Residency Relocation Loans - Wells Fargo

Others gave you ideas on how to prevent this from happening in the future, but there are some private loans out there like this one for students in your situation.

(Not an endorsement of Wells Fargo, this was just the one I knew of offhand)

 

[AlbinoHawk DO]

I think you made poor choices with managing your money. Learn from your mistakes. Pay rent up front and keep a budget for gas, food and other bills. If you have an emergency, don't dip into the money you need for living. Let it be a learning lesson. Best thing you can do for now is a private loan or credit card