$100,000 in student loan debt?

Wow ! So far I've gotten myself into 3, 000 worth of debt and I may be using an extra 2,000 for summer. I have used 75 % to pay for classes and books and 25 % for spending. My goal is to not have to owe no more than 10, 000. I've been also blessed to have a scholarship for all my prereqs, so the only classes I had to pay for was my nursing classes.

I was a single parent during nursing school, and I only ended up with $20,000 in loans. I worked during school, and I used some of the loan money to live off. I can't imagine $100,000 for nursing school. That sounds more in line with medical school

I can imagine $100,000 in nursing school debt can come easy nowadays, especially if you don't get any financial aid from your school. Even the state school I went to (as a state resident) worked its way up to $20,000/year by the time I finished. Figure if you go to a school from out of state (example, a New Yorker going to UMass) you could EASILY accrue that much debt!

Nursing students should definitely be smart when finding the right program for them. I hate to say it, but that money can hang over your head for a long time!

I hear of it with students who switch their majors and START nursing school with $20,000 from their previous degrees, etc. ... also from students who go to the most expensive private schools ... also from students who choose to go to school full time while not working at all and with no savings to rely on.

I don't think that much debt is necesssary and I don't think it is very wise ... but that's just my opinion.

If one goes to West Coast University in CA for a BSN, they can start out with $116,000 in debt. You have to want it badly to go that route as far as I'm concerned.

I switched majors after two years of studying Mechanical Engineering, my final debt for that and nursing school is 50k. I thought that was terrible enough, I would probably be really depressed with 100k. I am hoping to get a job that will offer some loan reimbursement or something to help me. The recommended monthly payment to pay it off in 10 years is 620 dollars, and I would rather be pumping that into a savings account.

I cringe whenever I see a post asking whether one should borrow money for living expenses in school.

I always shout, "NO!" at my computer screen.

As I understand it, some financial aid programs "penalize" students who have money saved for education, so some families don't establish college savings, thinking it will lessen their ability to get low cost loans for college. That's a shame, because such savings can go a long way toward meeting living expenses during college.

I can't imagine taking out loans for living expenses and paying 6-8% for 30 years for groceries and utilities. But since our public education system does such a poor job of providing the basics of financial and economic education, many young people don't understand the ramifications of doing so.

I understand the desire to get thru college as quickly as possible and begin earning a professional salary, but I think most students would be better off to work full-time for a few years to save for college and living expenses, or go to school part time while working.

Graduating with crushing debt is not necessary, and most who do, come to regret it when they realize the impact it has on their post-college standard of living.