135K Student Loan
I need words of advice.
My school is about 150k tuition for a BSN and I'd be starting in July, but I also got 97k FAFSA and grant all together. I'm planning on getting a 135k private student loan, but my cosigner is asking for a 17% of the loan when disbursed. I know it is ridiculous because this doesn't include the loan company interest rate or APR.
Balance not covered in the Financial Aid is $98,372.47 out of $151,000. The money not covered in my tuition after Financial Aid is $98,372 The total cost is $151,800, but I'm getting a loan of $135,000 to cover the remaining $98,372 and to as well get some extra to pay my cosigner who wants 17% of the loan I'm getting. He wants 17 percent of $135,000 as his own method of settlement.
Do you think I'm about to make a wise decision and will be able to repay back the loan in 3 years once I start working as an RN in Los Angeles area. I really need to start this school soon as I have delayed much.
I know I've got the option of doing ADN in a community college, but it really takes time to get on the list. I'd need to do prerequisites and then be on a wait list.
I need some words of advice.
Thank you