Mount St. Mary's ABSN 2011 applicants - page 23

by SDnurse2011

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Applying to MSMC's 2011 absn program? Yeah, me too. Just wanted to hearing from others in the same boat.... Read More


  1. 0
    hello to everyone,

    I have an issue regarding financial aid and not sure if I can afford MSMC. Can anybody who is currently in the program give me an idea on what monthly payments are they making to the school base on the payment plan? Or does anyone had any problem finding banks for student loan? I don't have good credit so I am worried about not being able to afford it.
    Thanks.
  2. 0
    It depends on the loan you take out, how long you want to repay it, if you'll take extra money for the cost of living, etc. Most students take out significantly more than what school costs so they can pay rent, gasoline, food, books, etc. Here's one example:

    Loan Balance:$60,000.00
    Adjusted Loan Balance:$60,000.00
    Loan Interest Rate:6.80%
    Loan Fees:0.00%Loan
    Term:
    10 years
    Minimum Payment:$50.00
    Monthly Loan Payment:$690.48
    Number of Payments:120
    Cumulative Payments:$82,857.94
    Total Interest Paid:$22,857.94

    If you take out $60,000, you will have to pay $690/month for 10 years! And that's just the cost for school! Instead of putting yourself into financial ruin, being a slave to the bank, find a more affordable school. Mt St Mary's NCLEX pass rates are just normal. There are plenty of better schools that are a fraction of the price. And there are some school with slightly less pass rates that are a fraction of the price. No doubt Mt St Marys offers a great education, but you will get the same education elsewhere for significantly less. Dont put yourself in excessive debt like that. If you go to a less expensive school, get yourself a BMW, Mercedes Benz, or something else that would cost $690/month and enjoy it!
  3. 0
    Thanks Hexum for the info. I will try to look around for other schools the offers the ABSN for less price. Mt. St marys is very accessible to me because i live 2 blocks away from the school thats why I figure out would save money on gas and travel time.
    But for all of those that are currently enrolled at the school for the ABSN program, I was told during the info session that if students had a problem getting loans, they offer payment plans. They also said that for 2nd degree, we will not qualify for grants and only about half of the tuition cost on govt loans. In that case, what will be the school monthly payment(payment plan) for the remaining tuition cost? I'm having issues getting private loans so I'm trying to figure out if I can afford the payment plan at the school.
  4. 0
    Quote from anrhie27
    Thanks Hexum for the info. I will try to look around for other schools the offers the ABSN for less price. Mt. St marys is very accessible to me because i live 2 blocks away from the school thats why I figure out would save money on gas and travel time.
    But for all of those that are currently enrolled at the school for the ABSN program, I was told during the info session that if students had a problem getting loans, they offer payment plans. They also said that for 2nd degree, we will not qualify for grants and only about half of the tuition cost on govt loans. In that case, what will be the school monthly payment(payment plan) for the remaining tuition cost? I'm having issues getting private loans so I'm trying to figure out if I can afford the payment plan at the school.
    were you able to get the loans? how much was the monthly payment?
  5. 0
    Hi everyone!

    I just finished my interview for the ABSN for MSMC. My dilemma is that I also got into WGU's nursing program.

    MSMC would cost me 60K WGU 23K.

    MSMC is a year long and WGU is 2.5 years long.

    I really don't know what program I should attend. Any thoughts opinions?
  6. 1
    Quote from heyitsmary
    Hi everyone!

    I just finished my interview for the ABSN for MSMC. My dilemma is that I also got into WGU's nursing program.

    MSMC would cost me 60K WGU 23K.

    MSMC is a year long and WGU is 2.5 years long.

    I really don't know what program I should attend. Any thoughts opinions?
    Congrats on getting in to both schools! If I were in your situation I would look at two main things:
    1. Can I handle an entire nursing program crammed into 1 year?
    2. Is it worth paying more for MSMC since I will graduate and make money sooner than WGU?

    Regarding 1: I know a nurse who did the ABSN program at MSMC and she said it was very difficult. Cramming all the information in one year created a year of hardcore constant homework. But she was able to graduate on time.

    Regarding 2: In one way, MSMC would cost less than WGU. If you go to MSMC and graduate in one year, you will have 1.5 years to work before you would have graduated WGU. Therefore, if a standard nurse starts at $60,000 a year, you would make $90,000 in that 1.5 years. Therefore MSMC could theoretically save you money. However, due to the high cost of MSMC, you will probably have to take out student loans and the interest will have a marginal decrease on the savings.

    If you live near MSMC and think you can handle the one year program, I would say do that. MSMC makes great nurses and has the best reputation around. If you chose MSMC make sure you live near the campus, sitting in hours of traffic before and after school for an entire year can break you. If you are unsure if you can handle the MSMC workload, don't want to pay student loans for 10-20 years, and want a more relaxed school environment (and you can work while attending WGU), then I would chose WGU. You just have to decide which of the two fits you best.
    heyitsmary likes this.
  7. 0
    Quote from willowLA
    Hi, guys!

    I am battling sort of a theoretical dilemma - which school would you choose: Mt. St. Mary's ABSN or CSUN ABSN, considering you got accepted to both? Seems like it is easier to find a job after Mount b/c of its reputation, or it does not really matter for potential employers? CSUN is cheaper, and seems like it is a solid program.

    I would really appreciate your input!

    Thank you
    Congrats! I would easily pick CSUN because it's cheaper. There is no guarantee you'll get a job faster just because you graduated from Mount St Mary's. They both give out BSNs. If you outshine someone who went to Mount St. Mary's in a job interview, I highly doubt the hiring managers will say "Well this one went to Mount Saint Mary so let's hire them even though the one from CSUN did better in the interview." Just my opinion
  8. 0
    I did some digging and found out you are attending (?) WGU! please tell me how you like the program (pros and cons)!

    I personally know MSMC graduates so they are biased on their thoughts about MSMC. I have yet to actually talk to a WGU student/graduate from the La area.

    You are like a unicorn!!!


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