Warning:Never check up on student loan balances!

[LeesieBug]

It makes you HYPERVENTILATE! :chuckle

I have been going at school for two years now (two down, two to go). Yesterday, I had financial issues on my mind, so I went to the website where I can get summaries of my student loans.

I about fell over....especially after I used the payment calculator, estimating about what my payments will be per month when I am all done. YIKES! Came to about 400 a month for ten years! Which means I'll be paying way more than that, because I want the balance paid off in five, to save money on interest!

I guess it's good to know what I'll be dealing with. After I thought it over a while, onne thing that made me feel a little better was that last year at our orientation, they had a couple nurses come answer questions for us. One guy said, "Yeah, you have a huge amount of student loan debt, but the good thing is that you can afford to pay it off!" I suppose I have to look at it that way....right?

[shel_wny]

Your education is the best investment you can make.

Hakuna Matata. :)

Shel

[TLC RN]

I figure I will owe as much as I would borrow to buy a nice car. Hopefully my mind won't depreciate as much as a car would :)

[enfermeraSG]

I have been going at school for two years now (two down, two to go). One guy said, "Yeah, you have a huge amount of student loan debt, but the good thing is that you can afford to pay it off!" I suppose I have to look at it that way....right?

While I agree that your education is the best investment you can make is your education, nurses really don't make that much!

( Yet I am still going through with it! At least my heart is in the right place!) SG

[canoehead, BSN, RN]

A student loan is one of the best investments you can make, also one of the most honorable. It shows you are looking to improve yourself, making long term goals. So be proud! It's inconvienent but an honorable debt.

[traumaRUs, MSN, APRN]

Yep, I'm in debt to the tune of about $30K for the BSN completion and MSN! However, education is always a great investment - that car will depreciate quickly but your education will only increase in value!

[WAstudent]

Debt can be scary, but do remember you will be making money to pay that off and there always options of refinancing and other things to lighten the monthly payment if it's too high. If anything, student loans are incentive to stick with it and finish so you can pay back the money. But I agree.....prob best not to check on balances!

[LeesieBug]

If anything, student loans are incentive to stick with it and finish so you can pay back the money

Ain't THAT the truth! There's no turning back now...I can't afford NOT to finish. :chuckle

Thanks, everyone, for the words of comfort! I think one of my problems is that I have always made an effort to avoid debt, and having a sum that large is a little traumatic for me. However, I think the shock is slowly wearing off, and the words of reassurance helped a great deal! :kiss

[Deb123j]

Sometimes when I think of how much $ I'm going to owe (I'm just starting) - I start to freak out!!!

BUT...I think that one thing nursing students can be reassured is that - we WILL have a decent paying job when we get out of school! :) Unlike other degrees - we're practically guaranteed a job!!!

[bonjovigirl]

I always lose a little sleep if I look up ( or even think about) my loan balance. Hubby and I avoid debt like the plague. Gotta think long run though.

[TeresaRN2b]

I feel a little better after reading this thread. I thought I was the only one in massive student loan debt. I definitely have to finish this now.

Teresa

[nikonos]

The student loan people are worse than the mob when it comes time for collections. Every month like clockwork I get a call from them.