Education loan AFTER graduation? Education loan for debt consolidation?

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I’m graduating at the end of the semester.
I’ve worked my entire way through school.
My wife and I have one son and another on the way.
We’re finding it hard to make ends meet and I’m pretty sure my degree won’t get me a better job after graduation.
I plan on getting into grad school, but it is so expensive to apply everywhere and I don’t have the $ 1,000 or more I will need to apply to the various schools I chose.

I hear of many college students getting large loans to cover all of their debt to consolidate everything they owe. They pay off credit cards, cars, etc. I know it’s only a temporary fix as you still have to pay everything off, but is it a good idea?

Plus, is there even any way I can get an education loan AFTER I graduate?

Is there such thing as a good, low rate education loan to help you get into grad school?

3 Comments
  1. Reply
    Dave and Rebel G
    November 10, 2011 at 4:12 pm

    You can not get an education loan after you graduate. Wait till you start grad school, then take the loans. There are caps on what you can borrow so, depending on how much debt you have, you may not get enough to pay off all of your other bills. Student loan interest rates are government controlled. Right now they are around 6%. They will not help you get into school. You have to be a student at an accredited school to even apply.

  2. Reply
    Sharon T
    November 10, 2011 at 4:21 pm

    You don’t state your field of study but I find it surprising you can’t improve your earnings after graduation.

    You are so far in debt that you really should consider working a couple of years to catch up. Perhaps you can find an employer who will pay your educational expenses while you work full time and go to school part time.

    You can’t refinance or consolidate yourself out of debt. You’ll only get in deeper.

  3. Reply
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    November 10, 2011 at 4:53 pm

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