Living expenses + WCU tuition fees....

Just wanted to bump this up for you.

I think I read where we are not able to get extra money for other expenses from the loans, but hopefully someone will know for sure and post here.

If it were me, I would not want to come out with 120K debt, especially if I had a family to support.

You have to find out the COA or total cost of attendance. This is what is estimated your cost will be including living expences. Your school should have and estimated COA and this is the maximum you can borrow. I think it used to be that privvate loans would let you borrow more, but now limit you to your estimated COA.

I will be attending a community college and their COA is only $12000 and since I am out of area my tuition will be over $4000.
I was hoping to borrow enough to cover my meager wages while I study, but I think I am restricted to the $8000 minus books and supplies.

Ummm you are going to have a hard time getting that kind of money for undergrad. And do you have any idea how hard it will be to get out from under that debt, you are taking up doctor esq debt but without doctor pay. If somehow that was all the debt you racked up and you never had to pay interest it would be 6K a year for the next 20 years, but there is interest and that is 8%, and you can't get govt loans for the amount you want to borrow. So you really are looking at paying back 1,000 a month for the next 20 years, and that is not including the interest that is builing up while you are going to school and not making payments. At that repyament amount you would have to have a household income of at least 104000 (assuming that you only have one kid), to not be in dire fincial ruin. On that student debt does not go away with bankruptcy...

If you are really looking into working quickly look into a ADN program (or even an LPN or LVN), get your two year degree and then you will be making money really quick (of course assuming that you can find a job, a real risk no matter the degree) and you can take night classes or distance learning classes to complete your BSN with out taking on more debt than you can really handle.

You really do not need to get into that debt, in fact over 20 years you will make more as an LVN (@ 16 an hour starting) then you will as a RN (@ 22 an hour) when you factor in the debt repayment of 12k a year. And you can go from LVN/LPN to RN to BSN while making money and might even get a hospital to foot the training bill.

You do know that school is all about money, right? lol. My friend told me that they have a NCLEX type exam( called the HESI )and in order to pass each nursing course you have to pass that. She said half of her term is not going to clinicals because of not passing that exam. There was students who had A's & B's in the course and now have to retake their intro to nursing course(s). Who can possibly be good at that exam in their 1st nursing term? It's a joke. They give those usually as homework in other nursing programs lol. You might as well go apply elsewhere, the school is worried about their test taking and scores, not the students. I actually feel bad for them.

I understand wanting to get your schooling done ASAP, but saddling your family with 120k in debt is, in my opinion anyway, a poor decision. Do you realize that if you have a loan at 6% paying it back for 30 years, not only will you have a 700+ monthly bill, but in the end your loan will have cost you 259k!

I am a SAHM and decided to go back to school. I totally get the wanting to get done early, I was in the same boat, until I looked at cost. By choosing to go the public university route, with community college pre-reqs (instead of a local private school), it will have saved me 15,000. Its nothing like what you are talking about, but you need to think of the cost long term. I changed my mind and decided to go with the cheaper, if 1 year longer program. I feel very good about my decision, I expect to have my debt paid off in 2 years...maybe longer if I pay other debt off first.

Don't get caught up in the wanting it NOW no matter what the cost, you need to think about what it will cost your family IN THE FUTURE.

BTW - I have taken ALL my pre-reqs online and saved a lot in gas and time away from my family (my biggest concern).

Good luck!!!