SGB Posted October 9, 2015 Share Posted October 9, 2015 I see it recommended over and over again not to work while in school. I currently work night shift as an aide and do much of my studying during those lulls while patients sleep. However, when I attempted school the first semester after my divorced I had to quit because the loans were not disbursed until half way through the semester. There was no way to afford commuting costs or day care at that point. So, if we are expected to forgo working during our tenure, are these loans disbursed much earlier than undergrad so we can pay things like rent and feeding the kids? This is my biggest concern, not ending up sleeping in my car with three kids would be great. Link to comment Share on other sites More sharing options...
Hopeful2015 Posted October 9, 2015 Share Posted October 9, 2015 Half way through the semester?! My undergrad loan money was always disbursed by the second week of the semester. Were you taking out private or federal? Link to comment Share on other sites More sharing options...
Administrator rev ronin Posted October 9, 2015 Administrator Share Posted October 9, 2015 It's a terrible way to go, but I recommend having at least $5,000 of available credit throughout school for those oops'es and emergencies. Well, it would be better to have an emergency bank account, but I can tell that's not realistic for the OP--or for MOST PA students. Alternatively, family who can help you out until your loans come in would also work. If you're single, working, and going to school, make sure (in your copious spare time <eyeroll>) that you've also applied for any assistance programs which might apply to you. Link to comment Share on other sites More sharing options...
crystaltide Posted October 9, 2015 Share Posted October 9, 2015 Not sure what undergrad you were at that you didn't get loans until halfway through a semester...I had a similar experience to MarieP in that my undergrad loans were always deposited within 2 weeks of the start of the semester. Each PA school might operate differently, but at my school the loans were active the first day of class for each semester - but that didn't mean we had access to the remaining funds at that point. As soon as the loans were activated on the first day of class, we were able to request a disbursement of the remaining funds. The funds usually appeared in the direct deposit accounts within 2-4 business days after that. Once you're accepted to a school, be frank with their financial aid office and ask what the schedules are like in advance so that you can prepare accordingly. Link to comment Share on other sites More sharing options...
SGB Posted October 9, 2015 Author Share Posted October 9, 2015 This refusal to release is coming from PHEAA. I'm not sure exactly what it all means, but I know it is a new rule. It wasn't like this when I first went back to school either. Link to comment Share on other sites More sharing options...
SGB Posted October 9, 2015 Author Share Posted October 9, 2015 We can thank the lovely divorce for pathetic credit scores and no credit reserves. I cut my cards as a part of my debt consolidation program. It's actually been liberating not having to figure out which card I need to pay and when. I either have the money to spend or I don't. Plain and simple. Well, usually it's I don't have the money to spend LOL. I know I won't get a loan for credit score dependent loan applications. I'm fine using whatever resources are available to get me through. I just need to figure out what resources are available. :P I'm also looking into any and all scholarships I may be eligible for at the grad school level. Pre requisites level I wasn't eligible for anything since I already had a bachelor's. Alright, I'm off to work. The bills don't magically pay for themselves. Link to comment Share on other sites More sharing options...
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