Alternative Private Student Loans? (bachelor's, associate degree, cost, school)

[Further North]

Hi Everyone,

I'm wondering if anyone can recommend some student loan companies that are less stringent on their loan terms and how the funds are allocated?

I am unemployed right now and I'm strongly considering taking specialized software training for 3D Engineering Software. The problem is, I can either spend 2 years of taking once class 2 nights a week for 4 hours for a semester at a time, or I can cut all the BS out of the process (especially being taught info I already know and have practiced on the job) and take a dedicated 3 or 4 week training program where I attend classes 40 hours a week. Personally I'd much rather get it over with and substantially increase my chances of finding work as a contract worker doing Computer Aided Design.

Anyway, the problem I'm seeing is most of these companies that offer software training don't have any kind of payment plans that will work for me. I don't have an extra $4K laying around. I'm also doubting my ability to even get a credit card without a job at this point.

So what I'm wondering is, have any of you found any private student loan programs that are a bit more lenient as to how you use funds?

What I really need to find is one that will consider my software training to have educational and career merit but NOT require the loan to be tied to a specific college curriculum.

I posted this topic in the Unemployment forum already and the discussion turned into an argument as to why I shouldn't do this or take on additional debt. I'm hoping I can get some actual advice related to student loans.

[MissShona]

I took out an alternative student loan once; and I was not too impressed. I prefer government loans because of the lower interest rates and the flexible re-payment options. I realize that you are talking about corporate training. However, if you could find an actual higher education institution, I think that would be better. Of course, the price could be much higher....depending on what is available to you.

Furthermore, being unemployed, you will most likely be eligible for a Pell Grant; as long as you don't already have a bachelor's degree. Something to consider.

[Further North]

Originally Posted by MissShona

I took out an alternative student loan once; and I was not too impressed. I prefer government loans because of the lower interest rates and the flexible re-payment options. I realize that you are talking about corporate training. However, if you could find an actual higher education institution, I think that would be better. Of course, the price could be much higher....depending on what is available to you.

Furthermore, being unemployed, you will most likely be eligible for a Pell Grant; as long as you don't already have a bachelor's degree. Something to consider.

I'd much prefer a Fed Loan too, but I'll take what I can get now. I just think that my present situation is much better suited to taking a condensed training program vs. an Associate Degree at a Tech School or Community College. It would get me back out there working much faster and at the same relative cost as a degree program would.

If you do the math, I would get the same amount of instruction time in a 4 week training session as I would over 4 semesters at a traditional college. Figure that I would attend class twice a week for 2 hours. That's 4 hours a week. In order to get 40 hours of instruction, that would take 10 weeks of a semester. Not to mention taking prerequisets and class scheduling, etc.