Nursing School Loans!?! Nursing School Loans!?! | allnurses

Nursing School Loans!?!

  1. 1 hello all,

    i am curious to know are their any nurses that were able to pay off their nursing school loans, i mean those that owed more than $30,000. if so how long did it take? did you have to pick up ot/ another job? leaving school i am going to owe more than $60,000. i really want this paid off before i buy a house and start a family.

    thanks in advance
  2. 5 Comments

  3. Visit  classykaren profile page
    Work at lot of OT and move in with your parents if you can
  4. Visit  Thank_You_RNs profile page
    Goodluck in finding a job when you graduate! Hope your school helps you find a job...
  5. Visit  esunada profile page
    Hi, I have 50,000 in loans from my previous degree and I still have yet to start nursing school! I am not willing to apply to nursing schools more than 40,000 just for that reason and I'm looking at much cheaper schools. Most of my loans are anywhere between a 10 year - 15 year plan, and I still had to pay a little over $450 a month. That is with interest rate avg. 4-5%. If you have a high interest rate, your loan can cost you more like $80,000 or more if it takes you 10 years to pay it all. Most people can't pay back earlier than that unless they live with their parents, have a supportive husband, etc. Because you'll still have pay rent, car loans, and other bills. I know it sucks, but it's still doable. You'll have loans for the rest of your life, whether it's a mortgage, car loan, or whatever. Just work a lot and live like you were still in school!!! (Cut coupons, take the bus, go to school for your haircuts, and don't buy unnecessary items). Maybe take a part time home health aide job or waitress job in addition to your regular job for the next few years.
    Last edit by esunada on Jan 11, '10
    wife&mommyRN likes this.
  6. Visit  Sand_Dollar profile page
    The advice I gave my daughter was to live as cheap as she can for a few years and pay the loans off ASAP. Pain at the beginning for benefits later. Sounds like nursing school! lol
  7. Visit  lene_snider profile page
    my loan is about 25,000-30,000 and i went on their web site (the people i got the loan through...thestudentloanpeople) and i found a program where they pay off my student loan in 5 years as long as i am working as a nurse in my state. i too have to make payments but they will make sure 20% of my loan is paid each year. it is great! i would look into your loan further and see if they have a program like that. for my loan forgiveness..i simply had to fill out an application with proof that i am working as a nurse.