Amount of debt upon graduation?

Nursing Students General Students

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Just a general survey: About how much debt are ya'll, if any, looking at upon graduation?

I calculated what I think I might end up owing when I graduate, which ended up being somewhere around $35,500. :eek: I thought I was going to get by with $19k, but after summer school, Stafford loans, and pulling $8k out of somewhere after my 4 year scholarship ends, that's where it may very well end up. I would like to buy a house after I graduate and buy a car for myself (because I know I have gone long enough without one), but money is going to be stretched making loan repayments. On top of that, I would like to purse my Master degree in Public Health and Health Informatics, but if I'm not at a place that offer tuition reimbursement, then that's a shot plan. Ergh, what do ya have to do, sell your soul to pay off debt?! :devil: :banghead:

There are always outside scholarships, but they aren't a sure thing and don't cover the full cost.

I know I'm not the only one, so feel free to share financial woes.

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Still have $29K from my first degree, probably going to add another $10-15K for NS. I drive a 15 year old car and live in a tiny house that I only pay $500/mo for. So far, it's been doable.

Just don't expect a lot to change in your lifestyle until you get your debt paid down, because you could get yourself into a lot of trouble. So, I would hold off on the house and the car.

My plan is to keep the same (or close to it) lifestyle for three years after I graduate and pay off all the debt. I may let my husband talk me into a newer car, though!

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Consider yourself lucky!

I have about 35K from my previous degree and I'll have another 37K from NS. :crying2:

I should add that I'm very thankful that my Fiance plans to help me out with the debt..

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me, i'll be in about 60k total from ns and a previous unfinished degree. wanna trade :p

i also plan on living the exact same lifestyle and driving my 1995 sedan until it finally dies and i'm forced to buy another clunker.

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Specializes in Maybe peds someday.

I'll graduate as a RN this june, DEBT-FREE!!!!!!!

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I've been working and saving for over a year.. I'm frugal with what books I buy.. alot of what's "required" isn't required. I try to buy it in an international edition or a 1 edition old used. When doing my pre-reqs for school, I saved about $1300. If you are having trouble making the $1300 it's just as good to save it.

As to selling your soul to pay off loans.. souls are not as valuable and student loans can never be discharged to any bankruptcy will never get you out of it. It's a deep hole and best get a big shovel because with interest it's only getting deeper. Never get behind on student loans as your credit will get messed up and then you will get screwed on your next car unless you can pay cash. Last thing you need when your short on cash is higher interest payments. Superman's kryptonite.

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Specializes in Emergency/Cath Lab.

Ive got 5K to repay but if i work for my hospital for 2 years, they will cover it all :D I get a job AND they pay my loan. Well where do I sign up

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Specializes in Psych.

My loans are a little over $5K. I have found an in-state RN-BSN program that will be $4K.

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I will have about $15k total. And thats IF I get no scholarships or financial aid. Hopefully Ill find a job that reimburses tuition so I'll have little to no debt

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Specializes in Utilization Management.

I graduated tonight and my debt amounts to $0 :up:

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I will have zero debt when I graduate by following Dave Ramsey's advice.

"what do ya have to do, sell your soul to pay off debt?!" No, this page teaches how to get out of debt. http://www.daveramsey.com/article/get-out-of-debt-with-the-debt-snowball-plan/lifeandmoney_debt/

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The US Department of Education recommends that you should spend no more than 8% of your salary on student loans. Most student loan calculators on the web sponsored by banks recommend a higher percentage (10-15%).

Using the federal 8% guideline, a graduate expecting a job paying $45,000 (a common starting salary for our BSN grads), this would mean a cap of approximately 27K in loans. While large cities offer higher salaries, the costs of living in those metropolitan areas is also much higher. Keep in mind that student loans are not canceled in bankruptcy anymore.

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