Nursing School Debt... - page 2

How long did it take each of you to pay off your nursing school debt? How much was your nursing school debt or how much did it cost you period for nursing school? Please indicate if this was a two... Read More

  1. by   EmeraldNYL
    I borrowed $19,000 for my biology degree and $36,000 for my BSN degree. I plan on working for a hospital with tuition reimbursement.
  2. by   essarge
    When all is said and done, it will be close to $42,000. I get $5,000 per year from work (negotiating on more though), in return for 2 years employment. I'm hoping to pay it off fast so I don't have that hanging over me along with all the other bills that I have. Thinking about picking up one agency shift per week (52 per hour) just to pay off the loans early! I am in a BSN program now.
  3. by   mario_ragucci
    right now I am planning on 7-9 grand debt in 2004 when I transform to RN. I work part time and have kilt a 401K plan to get to where I am now. Mountains of credit card debt, and still going deeper and deeper into debt. :-(
  4. by   Angelica
    I feel very grateful to not have any debt (so far). I retired from the Marine Corps, so I get a pension. Plus $900 per month in G.I bill benefits. The hospital where I extern is paying for my tuition and books.
  5. by   deespoohbear
    Can't remember what the total cost of my 2 year program was, but it was around $12,000...worth it though. I had some Stafford loans that have stretched out over 10 years (2 more years to go)...but the payments were really reasonable..under $75 a month...got a few grants...and the last semester I got the whole tuition paid in full because we had just bought a farm that summer and it really "whacked" out my financial aid paperwork...I am thinking about going back to school for a BS in Health Care Services, but my husband isn't too keen on this idea....
  6. by   frann
    I think I took out about 9,000 for a 2 yr adn program. used a lotofiit for living expenses.But here's the problem I had. My loan was originally supposed to be paid back over 10 yrs with gradually increased payments. Well my loan was sold to another company. and they just figured I wanted to keep the same payments and pay it over 21 yrs!!!! And of course they did this without telling me.

    If any of you have this company AFSA Data Corporation- well watch them they are scumbuckets! Luckily I caughtthem just in time. I thought my term was almost up, but still had most of my balance left. Turns out these guys aren't regulated by a bank, they are regulated by the dept of ed. Who has no idea they are regulating them.
  7. by   colleen10
    I have $17,000.00 on my first BS in Agricultural Science. I am paying it back over a course of 10 years, graduated payment schedule. I have allready had to defer it twice, each a 6 month period because I was laid off. Currently the payments are $170.00 a month but every two years they increase, so I think that by the last two years it's something like $350.00 a month. Yowser, like I'll be able to pay that!

    I am currently paying for my pre-req. and co-req. courses for nursing out of pocket since I am able to work full time right now, but when I am actually in my nursing classes I'll take out a loan. Since it is Community College it won't be too bad. I'm hoping to make it out with maybe $5,000.00 in debt at the end of the 2 year ADN program.

    I think I will look into getting the Perkins Loan compared to the Stafford, which is what I used the first time, per Sally.
  8. by   llg
    Originally posted by EmeraldNYL
    I borrowed $19,000 for my biology degree and $36,000 for my BSN degree. I plan on working for a hospital with tuition reimbursement.
    Please be careful to get a clear picture of a company's benefits before making any committments. When most employers say "tuition reimbursement," they mean that they will help you pay for classes that you take while you are employed by them -- NOT classes that you took beforehand.

    It sounds like what you are thinking of are "student loan repayment" programs -- and they are MUCH more rare.

    llg
  9. by   mario_ragucci
    Originally posted by Angelica
    the Marine Corps Plus $900 per month in G.I bill benefits.
    When I was in, from 1983-1987, they had this thing called VEAP, I maxed it out at $8,700. How much education assistance depends on when you were in. That Ronald Reagan sure was generous during my watch. As a total civilian, i still get plenty of help from Uncle Sam and Aunt Betsy :-(
  10. by   caliotter3
    I had to quit my BSN program when I got laid off from my full time LPN job. Had to move out of my mortgaged house. Long story, but ended up living in my car. All the credit cards that I was getting cash advances from in order to pay for nursing school etc./ Well, how many years now have they been charged off as bad debts? Nobody will rent to me. They call me a deadbeat. But I say who gives a d n, I pay them. But when I get good and ready. After all, my credit is already ruined. The unfinished nursing education is worthless to me and the credit cards never got me into a motel once the companies closed the accounts. Was it worth it? I wonder.
  11. by   caliotter3
    Hey Mario:

    Introduce me to your Aunt Betsy! I could use a suga mama or a suga dada. Don't really care which. Just kidding!
  12. by   NRSKarenRN
    see the thread re nursing nursing education loan repayment program

    anyone who has completed rn education programs: adn, bsn, msn with outstanding loans is eligible as long as they agree to work ft ( 32hrs/week) in critical access facility---for 2003 that includes
    all hospitals, skilled nursing facilities, nursing homes, homecare agency, hospices and many other facilites in us

    submit a complete nelrp application, signed nelrp contract and all required documentation by midnight est of the nelrp application due date, midnight est march 31, 2003

    application link:
    https://primecare.hrsa.gov/public/ne...nelrplogin.asp


    see sticked thread:
    http://allnurses.com/forums/showthre...threadid=29286


    these are federal monies that are granted yearly but covered employers/locations change yearly. bookmark this website and apply for repayment after your graduation date. earlier you apply, the better before funds are all allocated!
    Last edit by NRSKarenRN on Jan 18, '03
  13. by   LaurieCRNP2002
    Karen
    Thanks for the valuable info about the NELRP--I'm sure those of us who are in debt due to student loans are grateful!

    Laurie

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