I am 24 and I am in graduate school getting my MBA. I own a start up healthcare company , we’ve recently gotten our license but in the process of doing that i spent all the reserve funds I had for the business.
I have been trying to get financing , even with having extremely high credit score I keep getting dined because of low income. I’m a full time student and working on the business full time and would be extremely difficult to work a second job.
So I was thinking , since interest rates for student loans tend to generally be lower then what’s on the market and they don’t ask for much besides being in school that I would apply for more than I would need /cost and my school would give me the remainder and I can use that to finance the company.
Has anyone ever done anything like this or any advice they can give ?
I know of someone that basically lived off of student loans for I think 6 or 7 years?
My advice is talk to a Counselor. Seriously.
Girl a knew back in the day ended up marrying one of my best friends, when I heard about the level of debt they were in trying to get a nursing degree and a doctorate degree i could feel my gag reflex triggering.
It’s been about 10 years later and I’m willing to bet you it’s still a six figure number for the two of them combined. Love them to death, but I couldn’t do it.