Now what?

[Katya00]

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I have a big problem. I am in my fourth week of med school, but have gone on an LOA because my mom has gone out of remission from a terminal type of cancer. I wasn't sure what to do, but I finally decided to take the leave from school because I want to spend time with her, and because there isn't anyone at home to take care of her. The problem is, I moved out of the city, I have a lease with an apartment, and bills (of course) and my fiance, who is living with me, has a good job here that we couldn't get back home. We decided to stay on living in the other city, but I don't know what to do about money. I have talked with financial aid, and I have to give back all my loans, including "living expense" money, it won't be deferred. Obviously, I have to get a job. But we spent our savings on the move and our future wedding, never thinking we would be in this situation. My fiance just started his job so we haven't been able to stock up savings, and our families are not well off.

What should we do? Has anyone ever been in this situation? I was advised to take the LOA by the school, they thought it was the best possible solution. They told me things would be sorted out financially, but things aren't. We are in debt to the school, and we have bills here that we need to pay...and we don't make enough money in the meantime. Should we take out another loan? Put it on credit cards??? These are all things I never thought I'd need to do, and I have never been so in shock in my life.

We already live a very stripped down life as it is, no cable tv, basic internet dial-up, no TIVO etc...we are going to sell a lot of our possessions but I know that won't be enough. I have never been so scared in my life. Please help with advice 🙁

 

[lealf-ye]

will a part-time job help?

 

[psipsina]

I would highly reccomend waiting tables as a way for some fast money. The job sux but you can make about 200 a night in cash instead of waiting two weeks for a check. Good luck.

 

[Rugby MD]

hey, its a really crappy situation you are in, but regardless of your financial troubles, you made the right decision- you will not regret taking a LOA - even if it means being in superduper credit card debt for a few years. I was in a similar situation in undergrad, didn't take a loa and just skipped a lot of class instead. --- and then took like a million years to get into med school.
credit card debt sucks, but it will help carry you through until you can find a job.
waiting tables is good for quick cash. a staffing (kelly scientific, yoh scientific, westaff)agency might be able to put you in a lab doing western blots for 15 bucks an hour.
the school is probably not going to report to any credit agencies any time soon. this may be horrible advice, but I would hold off paying them back if there are no penalties.
good luck with everything.

 

[Katya00]

Thanks guys for the suggestions. Unfortunately there are repercussions to not paying them back...it will go to collections, and ruin my credit (which has no flaws as of now). I have credit cards, but I plan on using them as a last case effort, and only for smaller bills. Putting my rent on them a couple of times would add up to huge debt 🙁

I went out today and combed the area for jobs...I am going to take whatever comes first, and focus on getting something better for later. Just whatever it takes to get some cash in my hands (except stripping, haha).