I just got into a PhD program. I'll be getting a stipend, which comes out to a measly $1400 a month, when I currently make nearly twice that now with a full-time job and a part-time job. It's discouraged, but I'll have to get a part-time job to make ends meet since my monthly bills come to about $2k. I plan on refinancing my car, which is way too fancy for me ('06 Passat, under lease, $560 car payment!). I just worry I won't be able to refinance the lease easily. Of course, I'm upside down with the loan. I wish I could sell the thing. I'm not sure what to do with the car, but I don't need one that $$.

My credit is improving though (see sig for scores).

I also tried applying for a PLUS loan thru Access and I applied for NFCU's version, but was denied both times, probably due to the Providian charge-off due to fall off late next yr, or the BK that's to fall off 2010.

My parents are tapped out, so I can't go that route. My dad has already co-signed one loan for me, and my mom doesn't work.

Any ideas of places where I can get a loan?

I'm not sure that I qualify for Federal aid since I get a stipend and my tuition will be paid, basically the student budget alotted for the yr is covered by the stipend and tuition assistance. If anything, I I saw that I may appeal for Federal aid since my situation since I filed the FAFSA has changed (I won't have 2 jobs any more).

Thanks for any suggestions. I'd hate to not be able to go back to school because I can't afford it

When I went to grad school the first time, I applied for an received Stafford subsidized loans. I had a tuition waiver and stipend, and expenses were low. During the summers I worked for extra income.

When I went back for my second master's degree - I had been working full time for an engineering firm. I thought I wouldn't qualify for SLs because of my income, but found out I was still able to take out Stafford SLs - unsub and sub this time, since I left my job to go back for another master's degree.

As a grad student your borrowing limit under the Stafford Loan program should increase. This was back in 03-05, so I don't know if there has been any changes.

ETA - when my younger sis went though her PhD - she had a stipend, tuition waiver, and was not allowed to work. Instead of taking out SLs, she found outside funding for her research which helped with her income problem. She kept strict receipts to show she wasn't blowing money on inappropriate expenses, just in case she got audited.

Thank you for the info I truly hope I do get offered federal aid, it would help a great deal. I will definitely appeal for aid if anything, but I should know my status with the school in May, when they put out the new budget.

I will definitely look into grants once my research gets rolling.

Depending on what you are studying, you may be able to get more than 'grant' style funding. My sis wrote out a proposal of her research and sent it to companies who would potentaily benefit from her research, in addition to an NSF grand and an ACS grant, she recieved several 'grants' from companies in industry.

That's wonderful! I hope to study infectious disease with regards to bioterrorism (I'm in a biomedical program). I don't get into the research part until about a year into the program. I will definitely keep grants like this in mind.

Congratulations. Sounds like a great major.

Thank you, I'm very excited about the program

You should still be able to get Federal Loans as the PPs said with your tuition covered since it can be used for qualified living expenses. Also, in regard to your lease. Have you seen those websites where you can list your lease and someone can "take it over" for the remainder of the lease? They would have to be creditworthy enough for the transfer to their name though.

Another thought, have you contacted your VW dealership to see if they have any kind of deal where you could get out of your car now and into something a little less expensive? How much longer do have on your lease? Good luck.

Congrats on the PhD program!

Thank you I will talk to VW and let them know the situation. I have 2 yrs left on a 3 yr lease I'll figure something out, thank you for the suggestions!

Boomie can you give some more information on what specific program/university you are attending? I would like to get involved with a program like that in the future? Links or additional information would be appreciated. Thanks!