To Quit or Not to Quit...

  1. I really need some advice. I'm almost ready for nursing school, but the thing holding me back is that my husband is also in school, and expects to graduate in either May or Aug. We both currently work full-time day jobs as well, and have two young children. The thing is, I really would like to quit my job and go to nursing school full time in Aug., but I'm afraid he may not be able to find a job that will pay all the bills right after he graduates, and I will be stuck having to stay at my job! (The mortgage is the biggest one.) The nursing school also has an evening/weekend program, but if I go that route and continue to work, I would never see my family, so that isn't an option.

    Does anyone know of a program that assists unemployed, full-time nursing students? I would really like to quit working and get some type of assistance with expenses if my husband doesn't find a good job right away. I just hate the thought of having to work at my current job any longer! I've been thinking about quitting, even if my husband doesn't get a good job right away, but then we'd probably lose the house! Any help is appreciated.
    Last edit by Dottie78 on Nov 9, '07
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  2. 10 Comments

  3. by   nurz2be
    Quote from Dottie78
    I really need some advice. I'm almost ready for nursing school, but the thing holding me back is that my husband is also in school, and expects to graduate in either May or Aug. We both currently work full-time day jobs as well, and have two young children. The thing is, I really would like to quit my job and go to nursing school full time in Aug., but I'm afraid he may not be able to find a job that will pay all the bills right after he graduates, and I will be stuck having to stay at my job! (The mortgage is the biggest one.) The nursing school also has an evening/weekend program, but if I go that route and continue to work, I would never see my family, so that isn't an option.

    Does anyone know of a program that assists unemployed, full-time nursing students? I would really like to quit working and get some type of assistance with expenses if my husband doesn't find a good job right away. I just hate the thought of having to work at my current job any longer! I've been thinking about quitting, even if my husband doesn't get a good job right away, but then we'd probably lose the house! Any help is appreciated.

    One thing you could consider is a private loan through a lender like Chase, I have my loan through them, for use while you are in school. You can get up to 40,000 per year you are in school and the monies are sent directly to you to be distributed as you see fit. You provide proof of enrollment, provide them with your 2 most recent tax returns, and in most cases you will need a co-signor, and you can get a loan. I have one and am taking out my next years loan in Feb. This allows me not to have to work while I am in school, while not putting my family in a financial bind. They don't have an early pay-off penalty, you get a complete deferral while you are enrolled in school and repayment does not start until you are out of school for 6 months. It has truly been a blessing for me, since I don't have to work, and my family, who as a result are not forced to eat ramen noodles and live in our car.
  4. by   Satori77
    Quote from nurz2be
    One thing you could consider is a private loan through a lender like Chase, I have my loan through them, for use while you are in school. You can get up to 40,000 per year you are in school and the monies are sent directly to you to be distributed as you see fit. You provide proof of enrollment, provide them with your 2 most recent tax returns, and in most cases you will need a co-signor, and you can get a loan. I have one and am taking out my next years loan in Feb. This allows me not to have to work while I am in school, while not putting my family in a financial bind. They don't have an early pay-off penalty, you get a complete deferral while you are enrolled in school and repayment does not start until you are out of school for 6 months. It has truly been a blessing for me, since I don't have to work, and my family, who as a result are not forced to eat ramen noodles and live in our car.
    Can you only get a loan like that with a co-signer? I don't know of anyone that would co-sign for me. But something like that would really help out. What is the interest rate on that? And for hospitals that have tuiton reimbursement, will they help pay that off? (the part you used for school, I mean).
  5. by   SuesquatchRN
    Quote from Dottie78
    I've been thinking about quitting, even if my husband doesn't get a good job right away, but then we'd probably lose the house! Any help is appreciated.
    What a terrible thing to do to him and your family!

    If you hate this job so much find another one. Your time will come but clearly, it isn't now.
  6. by   nurz2be
    Quote from Satori77
    Can you only get a loan like that with a co-signer? I don't know of anyone that would co-sign for me. But something like that would really help out. What is the interest rate on that? And for hospitals that have tuiton reimbursement, will they help pay that off? (the part you used for school, I mean).
    Yes if you work for a hospital or someone who has tuition reimbursement you can apply that money to any monies you owe for school. If you have in-laws, even if they are retired, they can co-sign with you. My father-in-law is retired and has been for years, he co-signed with me without any trouble. The interest is on the loan depends on the credit rating you or your co-signor has. If you are still working while you apply you won't need a co-signor, or your husband can co-sign with you as long as he is employed. So, if you can't find a co-signor make sure you apply while you are still working. They won't deny you a loan because you are working, then as I said, your husband can co-sign with you.

    Loan

    Here is the link for the program I used.
  7. by   SarasotaRN2b
    Okay, here is my 2 cents...1) Nursing school isn't going to go away if you don't go next August (have you finished any prereqs you may need, have you applied?), 2) your children are only young for such a short time...don't lose out on that, you'll never get it back, and 3) if you are not happy with your job, get another...try to get a position in a hospital, then you can get tuition reimbursement when it is time to go to school.

    Kris
  8. by   MBARNBSN
    I was ready to go to nursing school 5 years before I could actually attend. The reasons are similar to yours financially minus the children. So I continued to work, paid off ALL of our non-secured debts, and saved up money to attend the local CC. I have young children now so that is a huge expense. I work part-time at the local hospital during the school year and full-time during the summer and breaks to cover school expenses, kids, and other expenses that pop up in my family. Upon graduation I will begin working as a full-time RN and be eligible for tuition payments for my BSN and MSN so I can continue nursing school debt free.

    I see others have given you options to take out loans. The only foreseeable problem is the fact that debts can choke you in the end. Nurses do not make so much money that any amount of debt is no big deal. Plus, reimbursement programs do not pay very much, as odd as that sounds. For instance, if you take out $40,000, you may be lucky to get $10,000 reimbursed in many places, thus you will be paying off $30,000 on top of any other debts you may have incurred in your past. On the other hand, if you have your employers pay tuition, you will have other expenses covered with your full-time salary.

    Besides if you do not make it through the program (check out the stats/threads regarding students who fail out of nursing school... they far exceed the ones that graduate) you will not owe anyone for the time spent trying to obtain a degree you could not complete. I understand that the route I am discussing takes longer to do, but for me and my family it is worth it in the end. We are looking forward to my new job opportunities and salary!!! GL. :spin:
  9. by   nurz2be
    [quote=MBA2BRN;2488390]

    Besides if you do not make it through the program (check out the stats/threads regarding students who fail out of nursing school... they far exceed the ones that graduate)


    WHAT?????????????? OMG that is stretching things WAY OUT of proportion. Maybe this is the case in the school you attend, but there is NO WAY more students fail than graduate. I HOPE you typed that wrong. That is giving the OP a false sense of what REALLY happens.

    OP I am sorry but that is NOT THE CASE in all schools. In the last 5 years at my school over 1000 nursing students have graduated and each class has only lost 1-2 (each class has 24 students). Those weren't just failures, those were some that had personal reasons, financial reasons and so on. Nursing school is tough but NO WAY more people fail than pass.
  10. by   MBARNBSN
    Quote from nurz2be

    WHAT?????????????? OMG that is stretching things WAY OUT of proportion. Maybe this is the case in the school you attend, but there is NO WAY more students fail than graduate. I HOPE you typed that wrong.
    Nope, many schools are like this... I am not blowing the statistics out of proportion. The retention rate from start to finish for most schools is low (30%-60%). I encourage the OP to try to find out the retention rate at the schools she plans to attend.

    On the other hand, I should mention that some students who fail are given a second chance and are able to return. However, those that are given another chance may wait to re-enter NS. During that time the student will owe the loans. Plus, if one fails twice, most schools will not permit reentry. There are also a number of students who choose not to return. All of the aforementioned contributes to the lower graduation rate compared with entry rate stats (for instance, 40 people enter but only 16 graduate on time from the original 40). Again, I encourage the OP to continue to do her research so she can make informed decisions.
    Last edit by MBARNBSN on Nov 10, '07
  11. by   Dottie78
    Thank you guys for the advice and comments. Although applying for a private loan sounds tempting, the thought of having to pay it back in the end doesn't sound so great, especially since we already have debts from the past that we're still trying to pay off. I think I'm going to try to be as patient as possible, and stay at work until he graduates, in hopes he will get a good-paying job. If that doesn't happen, then I may have to apply for the private loan as a last resort.

    It's not that I hate my current job; it's just that I'm already at that point where I'm getting anxious, because I'm taking the very last prerequisite class I need before I can apply to the nursing program. Once you're at the point, it's frustrating and that's how I'm feeling right now... so close, yet still so far away!
  12. by   Kynlee
    You can get federal grants and loans like Stafford and Perkins that do NOT need a cosigner. Go online and fill out a fasfa and list the school code of the school that you are attending. Your school will send you an award letter with what you are eligible for.

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