How much did the military give you for you loan repayment?

  1. 0
    Hi, I'm planning on joining the military, specifically the Army because they have a "better" loan repayment program. Up to 120k supposedly. I'm not joining anytime soon I'm starting the BSN program in April but I just want to see my options ahead of time.

    I'm going to attend West Coast University and my tuition is around ~$85k

    I'm not doing it for the money, but the branch with the better loan repayments... I'm there!

    *The question*
    Is for the nurses who got accepted into the Army Nurse Corp... if you don't mind, would you tell me how much did they offer for loan repayment?
    If youre from another branch, I don't mind your information either

    Thanks.

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  2. 8 Comments...

  3. 0
    thanks.
  4. 0
    I think that you find that with the economy being so bad, the military is being very picky. They don't have to offer loan repayment much anymore. New grads especially are at a premium at this time.

    This may (and hopefully will) change by the time you get out but as of now, the military boards that decide who comes in to the military aren't taking many (if any) new grads.
  5. 0
    The incentives are legit.. the loan repayments are posted. That being said competition has driven out new grads and most direct accessions have experience.. so be prepared it is NOT easy to qualify and to be accepted.
    Also you have to realize these incentives.. lump sum, loan repayment, etc are all taxed.. so figure 28% of that is going to feds. Also realize that loans need to meet certain requirements.. ie most 'standard' loans qualify and loans need to be for the program not for some 'other' loans you happen to have... Also loans are repaid over a period of time.. typically over 3 year period.. 1/3 of the original loan amount (minus tax) every time.. meaning you are responsible for interest acrued, amount that taxes take out....
    Lastly.. I would be hesitant to take out 85k and 'hoping' military will take care of it.. just be sure if you don't get accepted that you will be ok on repaying that loan on your own as - that is the most realistic scenario given the current situation.. 85K sounds steep. I'd look for alternatives. (also make sure your school meets their accreditation and therefore your RN degree would be accepted in the future....)
  6. 0
    If you are planning to go to military school, a lot of things has to be considered..Many people think it is nice because the military pays for college tuition when a member goes back to college.However,there are other expenditures besides tuition that need to be looked at. Rent and food can be very costly, even for military members who are going to university.
    Last edit by Pixie.RN on Jan 25, '13 : Reason: TOS
  7. 1
    Quote from skandy
    Hi, I'm planning on joining the military, specifically the Army because they have a "better" loan repayment program. Up to 120k supposedly. I'm not joining anytime soon I'm starting the BSN program in April but I just want to see my options ahead of time.

    I'm going to attend West Coast University and my tuition is around ~$85k

    I'm not doing it for the money, but the branch with the better loan repayments... I'm there!

    *The question*
    Is for the nurses who got accepted into the Army Nurse Corp... if you don't mind, would you tell me how much did they offer for loan repayment?
    If youre from another branch, I don't mind your information either

    Thanks.
    85K for nursing school?!? You're paying WAY too much there. You need to find another school. I know doctors and lawyers who didn't pay that much and they went to respectable schools. Taking on that much debt to go into the nursing field that is becoming harder to get a job as a new grad is beyond risky, boardering on the realm of stupidity. And hoping that you'll get picked up by the military so they'll pay it back with competition for these positions, you just sound like you are setting yourself up for disaster. I have 7yrs trauma nursing, multiple advanced certifications, training and I teach and I had to apply twice before being the only applicant from my area picked up. You are competing against THOUSANDS of applicants for maybe 100 total nursing positions? You need to really take a look at your financial picture (yeah, they also care about your credit report) and maybe do some more research into your options for school before you take on that much debt .
    athena55 likes this.
  8. 1
    Quote from skandy
    Hi, I'm planning on joining the military, specifically the Army because they have a "better" loan repayment program. Up to 120k supposedly. I'm not joining anytime soon I'm starting the BSN program in April but I just want to see my options ahead of time.

    I'm going to attend West Coast University and my tuition is around ~$85k

    I'm not doing it for the money, but the branch with the better loan repayments... I'm there!

    *The question*
    Is for the nurses who got accepted into the Army Nurse Corp... if you don't mind, would you tell me how much did they offer for loan repayment?
    If youre from another branch, I don't mind your information either

    Thanks.
    120k yes, it equates to 40k per year for 3 years minus taxes. It will only cover legit school loans. I hope the 85k tuition for a bsn was a typo, if it is not a typo goo lawd you are paying wayyyyyy too much. It is tough to get into the nurse corps. For example. This year they took 20 66h (RN) 10 with less than 2 years exp, and 10 with more than 2 years exp. they also to the best of my knowledge too 20 critical care/ER nurses. That is for the entire fiscal year, for the entire country. So as you may see it is a tough crowd. Keep your GPA as high as you can get it, and do a decent amount of community service. Good Luck
    athena55 likes this.
  9. 0
    Quote from nursespouse
    120k yes, it equates to 40k per year for 3 years minus taxes. It will only cover legit school loans. I hope the 85k tuition for a bsn was a typo, if it is not a typo goo lawd you are paying wayyyyyy too much. It is tough to get into the nurse corps. For example. This year they took 20 66h (RN) 10 with less than 2 years exp, and 10 with more than 2 years exp. they also to the best of my knowledge too 20 critical care/ER nurses. That is for the entire fiscal year, for the entire country. So as you may see it is a tough crowd. Keep your GPA as high as you can get it, and do a decent amount of community service. Good Luck
    This school is a certified degree mill. It's scary how many new grads they churn out every year... it saturates the new grad pool. It is so ridiculous how ANYONE can get into a BSN program because they're willing to take out 80-130k loan. It ruins the competitive nature of the admission process that should be required for all nursing schools.

    I'm not surprised, this school is owned by American Career College.
  10. 0
    I can't speak for the Army, but I've recently put in a packet for the AF and considered using the tuition reimbursement. The sign on bonus was 30K for 4 years, and if I wanted to take tuition reimbursement to cover the 8K I have left in student loans, it would require an extra 2 years of service. Not worth it to me. You really should reconsider that program. There are much better programs for much less. And like others have mentioned, the military is now very selective. It would have cost me 4K for my ADN (covered 100% by scholarships) and my BSN was ~$9500. It was a good B/M school too, but it had absolutely no bearing on helping me get my current RN position.


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