Nursing School Loans!?!

  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
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    About wife&mommyRN

    Joined: Aug '09; Posts: 239; Likes: 157


  3. by   classykaren
    Work at lot of OT and move in with your parents if you can
  4. by   Thank_You_RNs
    Goodluck in finding a job when you graduate! Hope your school helps you find a job...
  5. by   esunada
    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
  6. by   Sand_Dollar
    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. by   lene_snider
    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.