Funding the CRNA expenses

  1. 0
    Graduation is right around the corner!! I graduate in May with my BSN and I've spent countless hours trying to figure out I will paying for CRNA school and living expenses since I have 3 children and my wife is home with the kids. I know I am just starting my career out, but I've always known that I wanted to be a CRNA. Since you typically can't work while in the program, I would have no income coming in while in school. Has anyone experienced a similar situation, and if so, what did you do to overcome this financial burden? How long did you save for before starting the program?
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  3. 22 Comments so far...

  4. 0
    I got a scholarship through the Army and they are paying for everything along with a monthly stipend. Everyone else in my class did a combination of saving and loans.
  5. 0
    military is great, esp if you need the money up front. I would love to serve so will try to see if I am eligible. Otherwise try to save up at least 2 years living expenses. As you are just starting you should have an easier time socking away money. Do not make any big purchases that will be on loan repayment during crna school...like house, car, vacation, etc.

    In the end I am in the exact situation as you (3 kids, stay at home dad) and I never could save up that money. I am getting loans, applying for every scholarship I can, looking at the military, at using my retirement, and having my mother in law cosign on a private loan.

    plasma for money? donating eggs? not sure...

    my son would be an excellent underwear model but don't know how to do that...

    good luck
  6. 0
    don't you have a service requirement after school? I wouldn't exactly call that a scholarship
  7. 0
    Quote from MistaV
    don't you have a service requirement after school? I wouldn't exactly call that a scholarship
    Gee, service requirement or $90,000+ in student loans when you're done, some of which will be private loans at ridiculous interest rates. The service requirement definitely deserves a closer look. Good Luck to you.
  8. 0
    Quote from MistaV
    don't you have a service requirement after school? I wouldn't exactly call that a scholarship
    It is a scholarship because they don't just give it out to anyone. You have to apply and be selected for it. It is no different then when employers would foot the bill for CRNA students schooling and they had to sign a contract to work with them for x amount of years.
  9. 0
    Quote from ckh23

    It is a scholarship because they don't just give it out to anyone. You have to apply and be selected for it. It is no different then when employers would foot the bill for CRNA students schooling and they had to sign a contract to work with them for x amount of years.
    Difference is when you sign with a employer you know where you will be working. The military can send you anywhere their needs are. I also work with three people that did their service trough the army reserve and it took them 2-3 yrs after their service payback agreement to actually be released.

    Not a bad way to pay for college but there is a reason they give a bunch of money. You Will earn it.
  10. 0
    The stipend and tuition money they give is also reported as Taxable income for each year you receive it. So more like a loan then scholarship . But if you do not have enough money to live on then stipend is nice. I am looming at reserves.

    Money wise esp if you go active duty, from what I have read you do not come out on top money wise as you have the commitment where your pay is significantly lower than the private sector. Crnas tend to say that let your desire for service be what guides you and not the money. The people with primary service are able to make more ad their time in bumps them up the payscale.

    Good luck
  11. 0
    Most new grads will start out around 135k a year. If one were to live as if they were on an RN salary and use the rest for debt payment you could probably get rid of the 90k in student loans in 2 to 3 years. I'm just sayin'...

    But good luck to you and thank you for your service (And I mean that truly, with no sarcasm)
    Last edit by Terpole on Jan 21, '13
  12. 0
    That is not the amount I have seen on the data pay tables. More like half that


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