Would love to hear advice from students already been thru this.....

BamaGirlRN · May 24, 2004

I took out a loan for one year and then got a scholarship for another. With the federal loan you also get a pell grant which you don't have to pay back. You can also apply and just accept the pell grant money without accepting the loan money

Some hospitals pay for tuition but you have to work there for X number of years after graduation.

Good Luck.

Altra, BSN, RN · May 24, 2004

RNBOUND,

Yes, I would say that taking out loans of some sort is definitely the norm. Other than the few and far between full scholarships (most often in BSN programs) ya gotta pay for it somehow, and I don't know anyone who truly has $15,000 or so just laying around for no other purpose. Education is an investment.

I don't know what state you're in, but in some areas hospitals have included loan/tuition forgiveness as a sign-on bonus incentive, so you may get some repayment relief from loans you take out as a student. You can check with your state too -- here in PA there is a nursing loan forgiveness program which will forgive a certain portion of your student loans.

You can also think about your individual financial situation -- if you own your home you might be able to pay for school with a home equity loan. The interest will most likely be tax-deductible and you can also claim at least some portion of your tuition toward the Hope Credit on your federal tax return.

Hope this helps. Good luck! :)

klone, MSN, RN · May 24, 2004

Have you filled out a FAFSA yet?

PCGrad06 · May 24, 2004

do you live in ky? if so, your loans get paid off for you by working in ky once school is completed. also what about signing a contract with your local hospital they provide xxx dollars for you and you work for them once you are out. you get help and then you will have a job waiting on you. i am not sure if the deal is that sweet but it is worth checking into. i am going to. just remember where there is a will there is a way. good luck :)

wonderbee, BSN, RN · May 24, 2004

Many states offer loan forgiveness programs if you work for a contracted period of time at a selected hospital when you graduate. Hospitals also offer funds for a contract to work. I don't think either of these options pays for living expenses though. Not sure about that.

mariedoreen · May 25, 2004

This is the way I look at the loan issue: So many people these days are taking out loans for far more money than the cost of nursing school for a new car and what will they have for all that money in five years? Most likely, they won't have that car anymore! A career is for a lifetime and so many loans allow you to defer payment until you've graduated. The way I handled that is I paid for all the pre-req's myself and then when I knew I'd been accepted into a nursing program (and knew that there would be a definite financial pay-off in the end), I turned to the loans. Good luck, you'll figure it out. Just remember that financial advisors usually indicate that the only two things they recommend borrowing money for are a home, and an education.

Hi everyone! I really love this board. Need to ask advice because I am so confused. I have been out of school for several years and would love to go to school to be an RN. My question is so far I have had a really hard time on finding funding..grants, scholarships, work study program(makes me wonder if someone is telling me I do not need to be a nurse). I also have checked into maybe doing the LPN offered here where I live, but I found out today it will be 4,000 dollars with no funding..payment up front. I think RN is about 8-10,000. Which I did qualify for a student loan. Well the problem is I just don't know which avenue to travel down. Also my husband is are worried about getting a student loan he just plain out doesn't want to..but we don't have the money for me to take classes. I really want to be a nurse but I guess I was wondering do most people take out loans for school? Any advice or if anyone has been in this situation I would love to hear from ya! Thanks!