WISE? YOU MY STUDENT LOAN AND INCOME TAX TO PAY FOR MY APARTMENT?

It has turn a small as well swarming at my house. I’m 31 and I live with my dual brothers, nephew, and my brother’s fiance`. Although the comforting to have family around generally when I get ill (I’m a diabetic w/sleep apnea on a cpap). It has turn irritating to come home after work to noise(loud talking, tv, company). When I have association (male) there is an emanate with my brothers. After traffic with people all day at my job, I only wish to come home to assent and still I was meditative of receiving an online category and request for a tyro loan and additionally make use of my taxation earnings to compensate for my rent. Possibly up to 6 months. But I am additionally wondering if this is wise. I outlay about $150.00 a month on insulin and supplies. Then I have automobile ins, groceries(healthy food is not cheap), phone, cable, internet(combined), and a cell phone. I do not have kids, my car is paid for, and I compensate $200 a month in rent to my mom given this is her home. I am additionally seeking for an additional job, presumably out of state. I hatred the cold here in Michigan. I only wish discernment as to what to do? I even suspicion of only NOT being home so much. Travel, work out, etc only not be home. Any suggestions?????

{ 5 comments… read them below or add one }

yvonne a April 21, 2010 at 8:37 am

I can only speak in reference to the student loan aspect of your problem. I’m a grad student now, and from what I’ve learned and experienced it’s a TERRIBLE idea to sue your student loans to pay for something else. You’ll end up paying back much more. if you can finagle something else , i would highly recommend it. Your idea of trying to do alternate things outside the house is much better. maybe getting an extra part time job and using that money to go towards a fund to get your own place?

It's Me April 21, 2010 at 9:28 am

I would just stay where you are and try to save more money. Deal with it as long as you can, and save as much as you can, so when you do move out you wont have to worry so much.

Fantabulous April 21, 2010 at 9:45 am

If you’re taking an online course, you’re not going to be able to receive a student loan in any amount that will be sufficient for paying rent as well as the materials you need for your class. When loans are assessed they keep in mind what your education will cost including tuition, room, board, books, etc. They do look at what school you are attending and what kind of program you’re participating in. Unless you find a pretty liberal lender (which is a difficult thing to do these days) your loan will be enough to cover materials and tuition only, as you will not be housed on a campus, paying room and board.
I don’t know what you recieve in tax returns, but unless it’s a pretty large amount, I have a feeling they won’t be enough to cover your rent, either. You could potentially apply for a personal line of credit, but the interest rate is usually pretty high. Your best bet may be to wait and see if you can land a higher paying job and evaluate whether or not you can afford rent plus your other monthly expenses given your new salary. A monthly budget does wonders.

revsuzanne April 21, 2010 at 10:33 am

You cannot go into debt on basic expenses such as housing… that is counter-productive.
You need some savings so that you can move out of state if the opportunity arises.

On the other hand, you are living on top of each other where you are at.
Since you are going to college, see if you can network a roommate situation, or go on http://www.Craigslist.org to see if there is an affordable garage apartment or “room for rent” within your stomping range.
All you need is a quiet place to study and to store your stuff when you are not working or attending classes.
See if there is some kind of assistance program for your diabetic supplies… check with the college clinic or student union.

El Conqistador April 21, 2010 at 10:50 am

Definitely take a class and work towards a degree or a better job opportunity. Knowledge is power, and a college setting might introduce you to a future roommate or something.
It will also give you ample excuses to be out of the house and someplace quiet. I used to take the best naps while at the Indiana University library “studying”.
One warning: I am not a big believer in loans to pay for anything. If you can, find a job with benefits that will help you with your health expenses and/or your tuition. (This may be difficult in Michigan right now!) You only need to enroll in one class to be a student, and have access to all sorts of good stuff.
Best option for your long-term future, if you can stand the sight of blood: get a one-year nursing degree. Great potential pay, plenty of jobs and you can literally go anywhere in the USA and get a great job with no experience. this option, if you are really committed to finishing the program, would be worth a student loan.
Set a goal, then break it down to the little things you need to do to get there.

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