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Private school and paying for family?

Discussion in 'Spouses and Partners' started by velouria, May 5, 2004.

  1. velouria

    velouria Senior Member
    10+ Year Member

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    I know this topic has been touched on, but I would really really like to know how people support a family on financial aid. I'll be going to a private school, the loan money is already sky-high, and I don't see how we can possibly pay our bills. I have 2 young kids and a husband who would ideally like to be a stay-at-home dad. I know other people have done it....but how??? :)

    Thanks in advance!
     
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  3. Wifty

    Wifty Eccentrically Silly
    Moderator Emeritus 7+ Year Member

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    Hubby is a MSII and at a private school. It costs almost $30,000 but we have been able to live off financial aid for the last 2 years. We have enough to have some fun and buy some extras, but we do have to be careful. I am able to stay home with our baby, which has been wonderful!

    We just get the stafford loans but there are others available if you need them.

    The key is to live somewhere that is relatively cheap to live if you can. We are in Kirksville, MO which is cheap and in the middle of nowhere! :) It would have been more difficult if we tried to live in CA and we would have had to get some of the other loans available. Also, we started med school with no car debt, credit card debt, etc. We had some school loans....but those you can defer.

    Also, many med students families take advantage of some of the state assistance that is available - food stamps, healthcare (especially for children!), WIC, etc.

    Trust me, you will be paying more then enough in taxes in the future to pay for whatever help you get from the state!! And if a little extra aid lets your hubby stay at home......please consider using it!
    Many students won't talk about it......but many use it. :)

    If you have any questions, let me know.

    With smiles,
    Rebecca aka Wifty
     
  4. k's mom

    k's mom Senior Member
    7+ Year Member

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    Not to one-up Wifty ( :) ), but we have two young children and are taking out $50,000+ in loans per year (only for cost-of-attendance, no private loans), AND we have a car loan and credit card balance. It's not ideal, but we get along just fine. In fact, we are on target to be free of all debt except hubby's MS loans, by the time graduation rolls around (no exotic vacations, expensive dinners or fancy cars, but life is still beautiful and I'm home with the kids during the day..pt work at night)
    I agree COMPLETELY with Rebecca's advice.
    Please, please do a search on this thread because there have been many answers to this same question that might put your mind at ease.
    :)
    pm me.

    Stephanie
     

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