[DaisyRN, ACNP]

I have a special take on this issue... I did all of my degrees, ADN, RN-BSN, now MSN, ACNP on loans. I saw it as an "investment." I convinced myself of that you know... reason I did that was because my hubby and I just got married while I was doing my ADN program, before we were married, I was poor. THEN... I became poor with him. Wasn't really "poor" but just didnt have extra bux to pay for school at the time. So I got a private loan from my credit union.

So, time to do my BSN... was working full time hours, but prn status because I didn't need benefits and wanted the higher hourly rate. Chose to do a loan again so I wouldn't have to mess with it... Thought it would be easier. Applied for federal loan... got Stafford, then started my MSN and got more moolah from Stafford loan. BUT... with my MSN program, the university I went to received Tobacco funding which provided me about $1500/semester (I think). ALL YOU HAD TO DO WAS APPLY AND FILL OUT THIS BUDGET FORM. And my husband makes VERY good money... so ANYONE got it. ALL YOU HAD TO DO WAS APPLY. SO, if anybody says something about an "AENT" grant... DO IT. Its a little bit of a hassle... but VERY well worth it. I received that every semester during my MSN program.

NOW???? I go into repayment next month and everything has caught up... I will be paying approximately $700/month for all of my student loans. Keep in mind, however, that I chose the lowest interest paid over the course of the paybacks, so my monthly payment will be a bit higher but stay the same over the next *ahem* 10 years.

I WISH THAT I HAD PAID MORE OUT OF POCKET DURING THE PROGRAMS. It SUCKS so bad to think that I could have an additional $700 each month... to go towards a new car payment or mortgage. I'm proud of what I have accomplished... but with the economy like it is... and not being able to get a big ole' SUV like I want (due to inefficient fuel economy and cost of gas)... and not really having a lot of confidence in financing new things right now, I just regret my decision to not pay more out of my own pocket while I was going through the programs.

Bottom line... if you cannot pay and you are not eligible for scholarships or grants, do a loan. It's not that big of a deal... and it truly is an investment... don't get me wrong. I just didn't realize how hard it was going to hit.

[gab.rielle]

There are special scholarships that will cover your tuition as long as you agree to work in an impoverished, short-of-nurses hospital in the US, I think, for 2 years.
(which is pretty much every hospital because of the vast shortage!)
As for me, I am still a senior in HS, so I read your posts to see what you said, and I plan to *gulp* take a student loan.
-gab.rielle

[2bNewRN2010]

The first year I'm using Stafford Loans and I was lucky I had a mutual fund so I'm using that for the first year. The second year will prob be a combonition of Stafford and private loans. I'm trying to keep my debt as low as possible.

[Simpleplan]

I owe 30,000 for my biology degree which I didn't finish and about 50,000 for my nursing degree.

[OhBoy123]

My parents

However there are multiple avenues to finance nursing school. I strongly suggest you visit your financial aid office and also someone in the nursing department. The financial aide office can offer insight on loans etc. The nursing department often has lots of information on scholarships related directly to nursing.

Also check websites of hospitals you may be interested in working at. Many hospitals offer scholarships with a signed commitment to work there after graduation. A hospital in Chicago is offering 15,000 for a 2 year commitment, not bad!

Good Luck!

[SunnyAndrsn]

Originally Posted by mashamontago

anybody?

I've paid mostly out of pocket, but I did take out a few smallish student loans. Less than $7000 total in loans over the last three years.

[Transgender_n_TN]

I'm paying for mine with students loans. I could get tuition reimbursement on the job, but it will only pay for 6 credit hours per semester. The trauma hospital I work for also does loan forgiveness, so I'll probably end up working here once I finish my BSN program.

[Sk8ermom]

I chose ADN over BSN, cashed in my 401k from my years teaching, and work part time. I couldn't get grants or loans at community college because I already have a B.A. At least it is a two year program and I will not be racking up any more student loans.

[slsmithe]

I'm using student loans, but I am constantly looking for available scholarships. I am going to apply for a scholarship through the Health Professions Education Foundation, which requires you to work for a medically underserved area for two years after graduation. Although I'm still trying to figure out which hospitals fall under this category. Is anyone else here applied for this or are planning on applying?

[RhondaBlair]

No it is not based off of your credit...But with subsidized and unsubsidized loans you can only borrow so much each year...I think the first year is like 3750, 2nd year is 4500 and 3rd & 4th is 8500.00 a year.....you do not have to pay these loans back until after you graduate.