How much do you owe in student loans?

  1. 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 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?
  2. Visit Glenna, LPN profile page

    About Glenna, LPN

    Joined: Oct '11; Posts: 192; Likes: 121
    LPN; from US


  3. by   SuzieVN
    More relevant than the amount of loans owed, is the ramification of not being able to pay them back. More often than not, if you can't make the payment, your professional license is at risk, etc. Kudos to Obama for the income based repayment plan. The bubble is growing, growing, growing...
  4. by   whitecat5000
    I'll say an amount. I owed $25,000 after four years at a university. I have a 20 year repayment plan.

    I would say as a side note to make sure and pay them because the do not go away, even with a bankruptcy.
  5. by   SuzieVN
    For the time being, they can't go away. But the BR laws will change to adapt to the time, in a few years, when the bubble...detonates. It's not sustainable. It will happen sooner, not later.
  6. by   MunoRN
    I paid my way through, but that was back in "the day". I recently oriented a new grad who had $126,000 in loans. $90,000 in tuition alone at a public school (out of state tuition). She also worked during school and got a couple of grants, so it could have been more. She got hired on as a 0.4 FTE, after taxes and health insurance, she brings home about $800 a month and has a $550/month rent. She should have that loan paid off by the time she's 165.
  7. by   SuzieVN
    Only 165? That's the new 40! My last BF has a loan payment of $2000/month, and as a physician? He's in worse shape than I am. Go education...
  8. by   rumwynnieRN
    I owe somewhere between $55k to $60k. If I hadn't screwed up at another program (as in if I had never gone to my first nursing program), it would've only been $30k. I took out a $25000 private loan so I could pay for rent and all that in the first nursing program, but after doing terrible, I came home, and that money went to my second nursing program. It could've been a lot higher if it wasn't for my parents helping me out along the way.

    With the amount I'll be making now (which is small compared to the amount I'd be making if I had stayed home), if I play my cards right, I'll have my loans paid off in less than 5 years. At the same time, I don't have rent to worry about or a lot of bills. My boyfriend and I don't have a family nor do we go out a lot. It also helps that he's in the military, and some of the basic things like rent are automatically taken out of his paycheck (we never see his allowance).
  9. by   Tait
    I try not to look at it
  10. by   PRNketamine
    I owe about 80. Sickening.
  11. by   ChristineN
    I borrowed around 10k. Otherwise everything else for my RN, BSN, and now currently MSN is being paid for out of pocket by me as I go. I still owe 5k of the 10k but will finish paying on it when I finish my master's.
  12. by   SquishyRN
    I borrowed for my first Bachelor's. Still owe about $13k since I've been deferring it since going back to school for nursing because everything to do with nursing (LVN, ADN, and soon my RN to BSN) I am paying completely out of pocket. So I'll owe nothing for my entire nursing education, but will be repaying the $13k I borrowed for the "college experience" :P
  13. by   netglow
    OMG I read this stuff about debt, then I read the new posts from peeps who just finished another degree and are going right into accelerated BSN. They won't ever pay off their loans. Most of them will never work one day as an RN either. I don't have debt, but this all makes me sick to my stomach.
  14. by   sbostonRN
    DH and I used to have about 130K combined. That's two bachelors degrees and my ASN. We've paid off a good chunk of them using the snowball method and have about 40K left, which should take us about a year and a half on our current plan. We live well below our means and put over 3K a month towards our debt. I am planning to pay for my BSN out of pocket so I don't add to the pile with any more debt.