Worried about paying off student loan debt
- 1Hi all,
I thank you in advanced for any replies to my post.
As I further into my BSN degree, I find myself collecting more and more student loan debt. By the time I am finished with my degree, I will accrue approximately $100,000, and this worries me- a lot. My question is:
Would anyone be able to give me some faith that I won't be killing myself paying off this huge sum? I hate to go through all of this, only to find a job that will just allow me to get by in life when trying to pay down this debt.
Is anyone going through/went through the same sitaution?
Any comments would be appreciated!
Some background information: I live on Long Island which isnt known to be particularly cheap!
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- 2Nov 15, '13 by StephalumpHoly moly!
I'm sorry, but I can't comfort you about that one. I haven't done the math, but I'd imagine you'd be repaying at a rate of at least $1500 a month.
At this point, however, you don't really have choice. Time to learn so great budgeting skills!
- 1Nov 15, '13 by Suey816It's too much, especially b/c a significant amount of those loans must be private loans b/c you'll be over the limit for federal undergrad student loans. That would mean income based repayment and other options won't be avail to you in the future for a big chunk of those loans. Also, if you want to further your education you'll have a hard time doing it b/c of the debt accumulated for your bachelors.
- 3Nov 15, '13 by KelRN215I graduated with over $90K in debt. All my federal loans are long paid off and I have just under $40K in private loans left. I am six and a half years out of school. My payments have never been anywhere near $1500 a month- half that at the most.
- 3Quote from KelRN215...ah so there is some hope! That sounds almost literal to what I will owe.I graduated with over $90K in debt. All my federal loans are long paid off and I have just under $40K in private loans left. I am six and a half years out of school. My payments have never been anywhere near $1500 a month- half that at the most.
- 1Nov 15, '13 by wireheadYikes, Scary Monsters!!! Must be an IVY League school? IF not run for the hills. I went the route of LPN diploma, LPN to ADN, now I'm going for my BSN online, in total, I'll have spent about 50K. What makes this worse is that jobs are getting harder and harder to find for new graduates! You're better off going to a NP program, there will be a huge demand for them with the new ACA in place, and a better salary as well. As an RN, you will be paying that off forever!!