Many people wonder how to get CNA loans. A career as a Certified Nursing Assistant (CNA) offers numerous possibilities, especially since CNAs are needed in various work settings, like hospitals, nursing homes, doctors’ offices, etc.
One of the requirements in becoming a CNA is enrolling in a training program at various educational institutions or medical facilities, which have been approved by the Department of Health. The problem is these training courses are quite expensive. Regardless, there are ways in which you can acquire financial support, such as the following:
The Free Application for Federal Student Aid (FAFSA) is the first step to obtaining a federal aid for college, career school, or graduate school. These can be applied for online. Nevertheless, financial aid is awarded on a “first come, first serve” basis so it is recommended to submit your application as soon as possible.
The government also offers students options on how to get CNA loans, which can cover your tuition, housing, and other school expenses. Depending on your income, government
agencies will decide on the type of loan you can avail of—subsidized or unsubsidized. Subsidized loan is the kind wherein the government pays off the interest while unsubsidized loans are the kind where the interest increases while you are in school. These offer the most reasonable rates and terms.
Available are the following:
The Stafford Loan is the most commonly awarded by the government. This can either be subsidized or unsubsidized, wherein a pre-determined amount is provided on a per-year basis.
How to get CNA loans through Parent Plus. Their loans is a fixed-rate loan which permit parents to borrow a certain amount that will cover all of the student’s education expenses, including tuition fee, books, house rental, etc. But in order to qualify, the parent must meet certain credit requirements.
These low fixed-rate loans are available through the help of a school’s financial aid office. As such, this loan is paid directly to the school.
Students Loan Consolidation
There are times when one loan will not pay for your school expenses. Through a Federal Students Loan Consolidation Program, all the loans you have applied for will be combined in such a way that only one payment is due each month at a lower interest rate. To qualify for this loan, all your assets must make a total of $20,000 when combined.
Personal are those that are provided by financial institutions, such as banks. The disadvantages of these types are that they have high interest rates and shorter payment periods.
This is a great guide for how to get CNA loans online.