I Am a Single Mother And Going Back to School for Nursing. – Tanya


“Dear Steve,

Hello, I am a single mother with two children. I have decided to go back to school for nursing, but it is impossible to do so and have or get a job willing to work with the hours that the school requires. I am thinking of getting a loan that would cover my children and myself living expenses for two years.

Unfortunately, that is about $45000-$50000. That will cover my bills which is about $39000 and cover school monthly expenses. And still that is cutting it close. I do not know the best way to get a loan and I am also wondering, when my car lease is up in September, will I be able to get a loan to get another car as I will have such an outstanding amount pending, granted I do get the personal loan. I am so confused, please lead me in the right direction. I need to do something to gain some sort of stability for my children and myself. Thanking you in advance for your help.

Should I take the loan? Where is the best place to get it, bank or where? How would that affect my credit and in September when trying to get another car, would I be able to buy another instead of leasing or will they not be able to grant me a loan and should I just buy the one I have. Not really sure how to put the last question.


Dear Tanya,

A loan does not seem like a realistic way to proceed. I don’t know of anyone that would give an unemployed person an unsecured loan for such a large amount, even if you were going back to school. And on top of that the car issue is a big problem as well. When that ends you will then be an unemployed person with a huge loan and in need of new transportation.

I’m afraid I’m going to have to send you back to the drawing board and ask you to rethink this plan so you can find a way to save the money to live on in advance of going back to school or find a way to work while you are back attending school.

You might want to ask the financial aid office at the nursing school if they have any suggestions to see if your student loan could be expanded to cover any extra expenses. However, that approach is not without significant risk as well. If for some reason you did not finish nursing school you would be left with debt that could not be discharged in bankruptcy and you would be on the hook for the entire student loan balance for the rest of your life.


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2 thoughts on “I Am a Single Mother And Going Back to School for Nursing. – Tanya”

  1. I knew of 2 single mothers who were able to go back to school, working par-time (serving tables), relied on family and friends for baby sitting, and worked hard to get scholarships, grants, and government assistance. It was a lot of work but after 4 years they are both loving their jobs and relatively debt-free.

    It can be done! It just depends on how much you can afford in debt after your education. Good luck to you, Tanya!

  2. I totally agree with your advice. The message here is to go slow, especially with two little ones to take care of. I used to teach at a college that offered nursing and it was a full time program but i know there are alternatives. Perhaps she could find a community college that would allow part time attendance.
    I think students have the dream that when they get their degree and get an increase in income all will be wonderful but with those kinds of debts it will be horrible.
    And, consider a used car with very low or no payments! We did and it’s great. No payments and a very nice van! Can’t beat it.
    Many blessings to this young lady.

    Morgan at TheDebtDance.coms last blog post..Series: How our Childhood Experiences Influence our Adult “Money Selves”: Part 2, It happened one Christmas


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