How much do you owe in student loans? - page 5
I've been going to school on and off since I graduated high school in 2005. I finally finished all of my pre-req classes this last December at the community college. I also got my LPN in 2011. At the... Read More
Mar 30, '13Quote from mmcnabb3^ my student loans keep my credit score AMAZING!I got my first degree in flight school, so im a helicopter pilot, with a bachelors in aviation, but couldnt find a job so now im getting my accelerated BSN-MSN so for the first degree im in the hole 130k and this second degree will be about 70...
200,000 of school debt. If i could make it into a house id be happy to pay this mortgage.
When people talk about being in debt 30k or what not i just laugh because thats only one of my many loans i have. Out of state tuition, flight school and now my masters is horribly disgusting and depressing but theres not much i can do about it now except pay my minimums and hope for the 20 year forgiveness....on the plus side i have the most amazing credit score youve ever seen haha.
I'll bite...I just looked at my student loans last night. I'm paying interest on them this month. I don't have to start paying them back until June.
I also have a mortgage, and property, AND a retirement account (with appreciated money). I still have money to enjoy myself. If and when I go back to get my graduate degree for NP, I'm utilizing scholarships, and my job will pay for me to go back to school. I can at least pay 1 off in three years, and my BSN loan in about 6...by that time, I'll be ready for graduate school. I'm doing the income loans modification, as well as hope my facility that was once HRSA eligible for loan repayment will at least become eligible next year...not holding my breath for that one though...at least I can get the scholarship when I return to school!
I can't imagine people who are in their second third, PLUS degree; I had a co-worker who went back to school for a FOURTH career; her last career was an engineer...I am sure this is why student loans are now at a cap. Not knocking for people coming into their own to find their niche, but some people are truly going to NEVER pay off their student loans.Last edit by LadyFree28 on Mar 30, '13
Mar 30, '13Quote from BlueDevil,DNP^AGREED..education IS the most worthwhile investment...even if you have to borrow for it...I'm just nervous for the ones who invest and STILL don't know what they want to be when they "grow up"....I don't have any student loans, but student loans are not the problem. Car loans, credit cards, iPhones, mortgages or rent that are more than one can afford, and general lifestyle expenses are the real problem. Of all of those things, student loans are the one investment that will always be worthwhile.
Don't borrow money for depreciating assets (i.e. a car). Don't make installment payments on capitol goods, or put more on a credit card than you can pay off, in full, when the bill arrives. Don't buy a home unless you are dead certain you will live in it for a bare minimum of 5+ years and you can afford an additional 15% in upkeep and expenses every month over the mortgage, as well as saving and investing a minimum of 15% of your income. Don't buy toys you can't afford (ipads, smart phones) and indulge in a lifestyle you cannot support (restaurants, beauty salons, magazines, starbucks, etc). And here's the rub: if you owe anyone any money and aren't saving enough for retirement, you can't afford that stuff. Sorry, you can't. I get that you want it. I want stuff I can't afford too. That's life. You just have to learn to live within, and even below, your means. Do that for 10 years, and you will never have to worry about money again the rest of your life. Don't, and you will worry about money every day for the rest of your life, and very intensely in the last 1/3 of it. Don't do that to yourself.
Education is a worthwhile investment. The rest of that stuff is just stuff you won't even remember having. A house you might remember, even if only out of regret, lol. Hold off on the house perhaps, until the time is right. Definitely forget the lattes and iPhones. You really can't afford it, you just think you can/wish you could/want to pretend you can. You are borrowing from your future and bankrupting it. Be smarter. Borrowing for education = OK.
Mar 30, '13Rest assured, it's not just nurses. A couple of years back, there was a doctor in Georgia whose private practice was foreclosed on and he had to get a job working FOR the hospital that he admitted his patients to BECAUSE he couldn't afford to repay his student loans. For a couple of nurses that I know, the pursuit of advanced degrees is just to get the government off their ***** for a while...Hey if you can't pay 'em back right now, get back in school and get more loans. (That's what they're doing.) if you start this process later in life, then don't worry. I'm sure the government will get the address to your coffin and stick a mailbox over it. You will definitely get the bill.
Mar 30, '13About 55k. I went to school four years before deciding on nursing, so then I added on two more.
My payment is $260 a month which we easily afford.
But when I go back for my bachelors I'm hoping to either pay out of pocket or tuition help from my hospital.
Mar 30, '13Also wanted to add my husband got a full scholarship for his schooling so it helps that we have never owed anything for him.
Mar 30, '13Quote from BlueDevil,DNPAgree with you on thisYou just have to learn to live within, and even below, your means. Do that for 10 years, and you will never have to worry about money again the rest of your life. Don't, and you will worry about money every day for the rest of your life, and very intensely in the last 1/3 of it. Don't do that to yourself.
I don't remember all the models of dvd players that I had, but I do remember my entire trip to Europe in 1980.
Experiences and travel is more important.
Had a boss that made over $300K and drove a $5K car.
Another friend of the family are multi millionaires, drive 10 year old cars and clip coupons.
Banks are another SCAM, with low interest rates and increasing inflation you are paying them way too much money to have them hold it for you.Last edit by dt70 on Mar 30, '13
Mar 30, '13Quote from Glenna, LPNI've been going to school on and off since I graduated high school in 2005. I finally finished all of my pre-req classes this last December at the community college. I also got my LPN in 2011. At the moment I am looking to get into an LPN to RN bridge program.
I work for the veterans affairs and I know that they help with student loans after you've been working there for a year. I was just counting up how much I owe...which is over 43,000. I laughed to myself...but this was the only way I could make it to where I am today. I'll apply for some aid from work after my 1 year point but it just has me thinking....
How much do you guys owe in student loans? What is the average?
I'm seeing thousands and thousands. Ahh, I'm so glad I got my ADN first. I payed it out of my checking account as I went along. To finish my BSN, its only going to be 8000. However, I still have 9,000 left from my first degree.
Mar 31, '13I still have 2 years to go until my BSN and I will owe around 60k...ugh. I plan on getting on the longest payback plan
Mar 31, '13For two degrees (1 nursing and 1 non-nursing): $77k. The bulk of that is the non-nursing degree, I think around $55k. It's not ideal (and if I had my first degree to do over again I'd have made very different decisions), but it is what it is. I've been making the payments for so long I'm used to being without the money that goes to the payments, and we have a long term plan to pay them off sooner than their terms.
Apr 1, '13I hate debt so I opted to go the ASN route. (I already hold a BS in Business with no student loans). I got a 5k student loan and researched how to get free money (I was not eligible for grants since I held my Bachelor's already. I qualified for a state tuition waiver...my tuition was basically free and I only had to cover for books and other small fees. It is always smarter to take the smallest loan possible and pay for living expenses on your own! People should avoid debt like it is the plague!!
Apr 1, '13I did an accelerated program that was 34 thousand no including the pre-reqs (which i paid as i went),I owed 30 thousand , which i paid off in a year. I had no intention of making payments on it, just paying it off ASAP
May 14, '13Nothing yet! I made it through LPN school by working two jobs, and I was so proud to come out debt free. RN program is the same, paying as I go (while working as a nurse)! I did have to go to a small, difficult school as opposed to more inclusive programs, but a more annoying application/testing process was worth it.
My ultimate goal is to be a CRNA, so I'm trying to stay absolutely debt free until grad school.
May 19, '13I was lucky, took LVN school back when community colleges were $50/semester. Did take out one small loan (I think it was like $1K) but that has long since been paid back. RN school (via Regents/Excelsior) I paid for myself. I am now going through WGU for my BSN and am paying the $3200/6 months myself, which seems to be out of the norm these days. It will be tight, but I won't owe anything. I get $500 from my employer each year plus there's a tax credit so that will cut down some of the costs.