Published
Did it once for the undergraduate degree...took me 11 years to pay off and I vowed never to do it again. The ADN is and BSN will be paid in full before I graduate. I've already started a savings fund for graduate school--ideally I'd like to have all that saved up before I start, but that probably won't happen...so if it means I have to work during graduate school and/or go to school part-time, I'll do that before I take a loan.
Students needs to be aware of what they are getting into when they take out a loan. They should also not be borrowing above their means, especially when the job market right now is terrible for everyone, let alone new grads. No one's putting a gun to any student's head forcing them to take 50-100k out in loans. If they're not willing AND prepared to take on that responsibility, perhaps that pricey private nursing program is not really the best way to go. Maybe a less-costly program or going part-time while working is the answer now for avoiding debt problems.
chuckster, ADN, BSN, RN, EMT-B
1,139 Posts
Link to complete article may be found here: http://www.nytimes.com/2012/09/09/business/once-a-student-now-dogged-by-collection-agencies.html?pagewanted=3&_r=1&hpw