??? School Loans ???

  1. hello! i've got a ??? for you all. i live in ohio and am planning on attend kettering college of medical arts. it's an expensive private school ($4,500) per semester. i'm going to have to take out some loans, however i'm hoping to get some grants/scholarships (not eligable for pell or oig grants) and a sponsorship (won't be able to apply for this till fall 2005). anyways, i'm planning on getting some school loans for (obviously) school and also for living expenses. i work 2 jobs now and definately won't be able to do that and go to school. so...um...through this long explanation, is it a big mistake to take out say $20,000ish in student loans??? i figure when i get out of college i'll be making at least $40,000 per year as a nurse (plus i'll be married by that time), and it will be not as difficult to pay the money back.

    what do you all think??? :uhoh21:

    (p.s. what are the different prices for other schools per semester???)

    thanks!!!
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  2. 3 Comments

  3. by   heart queen
    I was a stay at home mom of 2 1/2 kids when I entered nursing school. There was NO way for us to pay for $2500 per semester. I ended up with about $12,000 in loans, still paying for them 9 years later at 4% about 140. per month.

    For ME, it was the best investment I have ever made, I loved the private school, I did get some grants yet we need the loans to pay for a car loan, gas..... Now I could have easily paid it off, but at 4%, naw.

    I've never let $$$ stand in the way of what I've wanted, again just me. But It was the most rewarding debt I've ever accured.
  4. by   Deb123j
    I'm taking some pre-req's at a community college (the waiting list for nursing school is 2 1/2 - 3 years) and some of the students there (waiting to get into the nursing program) think I'm crazy for going to the private school and spending all that money. I dunno, call me crazy, but 1) I don't want to wait 3 years to go to nursing school (I have most of the pre-req's done from going 8 yrs ago) and 2) this private school is AWESOME and you're right next to the hospital for clinicals and such (and it's the hospital that I want to ultimately work at when I'm a nurse).


    Is it crazy to spend so much money when I could just wait a few years and then start, making it about 6 years or so before I can become a nurse?
    Luckily my boyfriend (we'll probably get married by the end of the year) is EXTREMELY supportive about whatever I want to do. Even if I accumulate a bunch in student loans. He says that he'll already be working full-time and supporting our family, so when I do start working it won't be that difficult to pay off the debt.
  5. by   Q.
    Quote from heart queen
    But It was the most rewarding debt I've ever accured.
    Ditto. I currently have $19K out in undergrad loans and am currently in grad school with an additional $8K debt. Best debt I've ever accured, especially when I compare it to the average credit card debt of most American households, the average price of a car, etc. It's a no-brainer for me.

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