Nervous About Paying for School - page 3
by wishfulnurse01 5,107 Views | 31 Comments
Hi Everyone!!! I'm sure some where on here there is a thread that could answer my question but I surely have not found it yet. I am currently getting my BS in Psychology and then I'm either doing the accelerated BSN program or... Read More
- 2Mar 19, '12 by OCNRN63It really scares me when I see these posts from people who have substantial debt and are looking to go deeper in debt by going to nursing school. Suppose you get the loan for school. Now you've added on possibly 20K or more to the debt you already have. What will you do if you graduate and can't get a job for months, even a year or more? How will you make your payments? What if you get that job but become seriously ill or injured and cannot work for an extended period of time?
I appreciate that people have dreams. But in this economy, you can't afford to just go with your dreams. The job market is tough out there. Do you really want to be deeply indebted for 20y or more? That's a long time to go without vacations, a nice place to live, etc. Think long and hard before you decide to incur more debt. I wish Suzy Orman had a forum here.
- 0Mar 19, '12 by chiasmus100Just wanted to say if you go to community college and do well WITHOUT A BA there is a ton of scholarship money available. I mean, you can do your nursing prereqs at community college then transfer to a four year school to finish up and the cost will be minimal. I am doing this now (but already have a degree so am not eligible for the scholarships the honor society adviser keeps emailing me about). I joined the honor society at the community college and get big name schools sending me marketing materials to my house every week. My parents are proud, but it is disheartening for me I graduated with a ton of debt when I could have just done this from the beginning.
- 1Mar 19, '12 by brandy1017I remember back when I first went back to college in the early 80's, the state university had a meeting for adult returning students and basically told everyone first you get your BA/BS then you will probably have to go on to get technical training to get a job. Thought it was odd back then, why get a BA/BS and then have to go on for tech training?
But I met many young grads who were working as secretaries, taxi drivers, security, etc. that didn't require a college degree. It was one of the reasons I chose nursing because you could make a living wage, secretaries not so much. Why encourage so many students and people to get a BA/BS and taking out student loans when probably the majority of them won't get a job that pays a living wage? Why not just get the tech training in the beginning (public non-profit community colleges) and skip the time and expense of going to the university.
I don't encourage people to go into nursing, it is a very difficult, stressful and yes dangerous job! From the stress of neverending alarms, people pulling at you from every direction, being the go to person when everyone else refuses to do their job ie CNA's, housekeepers, HUC's. You'll find yourself saddled with their work on top of your own and then be micromanaged if you punch in a minute late or don't get out on time, which is impossible with the workload of increasingly sick patients! Risks of contagious diseases hep c, hiv, H1N1 and the even more dangerous risks of a serious injury to your back, neck or shoulders due to the lack of lifting equipment in most hospitals! It took a federal law to get safe needles in the hospitals and it appears it will take a federal law to get adequate lift equipment in all the hospitals!
Are you sure you want to be a nurse? Consider Ultra sound tech, resp tech, not XRAY tech because they are flooded already. If you go the tech route thru a non-profit community college you could be working much sooner, bringing in money to pay off your student loans and then if you wanted to still go back for nursing you could get tuition reimbursement from your employer. But be on the lookout because on one hand they offer tuition reimbursement, but on the next they try to take it away by writing people up for petty reasons and walla they'll rescind your tuition reimbursement!
As a tech you have a particular, defined job! It's your job and no one elses. Where as a nurse you are supposed to do everything, nothing is outside your scope (other than the dr). So you have ultimate responsibility for everything and everyone but no real authority over anything. You have to beg to just get staff, for working equipment, to go home and not be mandated because they are short as usual and it is so much cheaper to mandate you than pay agency!
I would avoid private student loans at all costs, stick with govt loans, private loans are even worse than govt loans, there is no income based repayment plans. If your mom cosigned for a private loan she would be liable to pay it back, even if you died unexpectedly and the govt now garnishes up to 15% of a person's social security or disability if a person still has or has cosigned outstanding loans by the time they have retired or became disabled. Student loans have become the most dangerous loans out there so if you have to take them up, be very cautious and stick with govt loans only!
- 0Mar 19, '12 by anotheroneQuote from gettingbsn2msnexactly, it depends completely on the part of the country. The places I know that any full time nurse makes $50,000 have a pretty high cost of living. Some areas also have very small oppurtunities for ot, and many places like to hire mostly pt/per deim staff and have 1-5 full timers. I would def check out to see how the market, esp for psych rns is first. Is that the only nursing you are willing to do? Not sure how the market is for that in any part of florida. Are there many state and or private psych hospitals? do they hire new grads? I didn't respond to the loan questions because many people already answered it. To me $31,000 seems like such a large amount of money. Are there any state schools or cheaper private schools that have an accelerated 1 year program for students who already have b.s. or b.a degrees? Many places in some cities do NOT hire asn or diploma nurses expereinced or not. I know many hospitals like this, some hire nurses with bsn, asn, or diploma. Not sure how it is where you live, so I would find that out first before choosing a non bsn program.Do not plan on making 50k right out of nursing school. Not going to happen in this part of the country. Hospitals are on hiring freezes. Also if you are working right now they are doing everything possible to cut overtime. I used to depend on overtime to help with bills. It no longer exists (at least in my part of the US)
- 1Mar 20, '12 by brandy1017Before taking out anymore student loan debt I recommend you check out a book by Alan Collinge, The Student Loan Scam: The Most Oppressive Debt in US History and How We Can Fight Back. You can check it out at Amazon.com: Online Shopping for Electronics, Apparel, Computers, Books, DVDs & more and see the reviews or check out his website StudentLoanJustice.Org to learn more. The truth is at this point there is not much a person can do if they are currently in over their head with student loan debt. At this point in time, the only thing you can do is try to avoid making the same mistakes of millions of others who pursued the American Dream with student loans, but were derailed and found themselves in the new American Nightmare!
Crazy as it may sound, one is better off paying for college with credit cards because if things go sour you can always declare bankruptcy!
I urge everyone, especially young student's to take a personal finance class and read the student loan scam book before taking out student loans. Beware Sallie Mae as they are one of the most predatory student loan providers out there and are a private for profit organization, not the quasi govtl program they used to be!
I know it's macabre to say this, but if you are a cosigner or have had parents cosign a private student loan please take out a term life insurance policy to pay off the debt in the event of your unexpected death, otherwise your family will be left to pay the debt off. There have been a few cases in the national news recently of parent's as cosigners whose children died unexpectedly and then were left with massive student loans to try to pay back!Last edit by brandy1017 on Mar 20, '12
- 0Mar 20, '12 by AndyBGrants, scholarships, and then loans. Of course you can always get service cancelable loans or have a hospital sponsor you (you will owe them time or money back). I was able to get a ASN in nursing while keeping my own apartment and only going $10,000 in debt. The main thing is separating necessities versus NICEicities. If you have a smart phone with all the bells and whistles and cable TV with all the channels you need to get your priorities straight.
- 0Honestly, right now with the degree that I have I could go into the workforce and work in a hospital. It's just a psych degree but Nursing has always been my passion. I've checked with several hospitals around my area and they do have some programs where they will pay for me to go. As far as being in debt, if I continued to graduate school I would still in be in debt and have a long road ahead of me. Thanks for you comment though!! I love the different insight!