Quote from ArnieRNRRT
What is a graduate student to do.....I have come to a cross road....My program is going to cost approx 65 grand.......I will also need some money for living expenses....my guess is also around 24 -25 grand/year.....(30 month program). grand total = at least 120/grand.....What do i do...I mean I know loans are available but this amount seems huge!!! and even if I would be willing to borrow this much.....would it even be possible? I have been accepted in the class starting Jan 2007 at Mountain State University in WV. Now I am trying to make some tough life decisions to better position myself for this challenge. I have to opportunity change jobs now....to a med/surg ICU at a level one trauma center....GREAT EXPERIENCE...but I will make less than I currently make and I will have to commute about an hour and half...so you see....when it comes time next fall to quit working and start school...what if i don't have enough funds??? Than I am stuck working out of town....and have given up a job that I currently like...I am rambeling...so sorry..But I feel like I am gonna snap if i can't get this thing figured out.....Some one please help.....I am sure others have been in a similar situation..I just really want to find a way to make this work.....In regards to asking an anesthesia group for sponsorship.....how exactly does one go about this.....just call up the hosptial and ask for the chief crna or mda? I really want to make this a reality.....and it is getting close to becoming just that......now how do i pay???!!!
Thanks for any advice
First of all, if you are already admitted to anesthesia school, I wouldn't change jobs just for the experience. Apparently your current work experience is just fine for admission to school, and they will teach you all you need to know - while the experience might be helpful, you can certainly do without it, especially if it means paying you less.
Second, you need to take a long hard look at what you spend and what you earn. Start working some overtime,
pay off any credit cards, car loans, and SAVE. Do you own a house or rent? If you rent, try to downsize to a smaller or less expensive apartment. If you own, you may be able to use your home's equity to help pay for school.
You can definitely borrow that much for school. What you want to try to do though, is maximize your federal loans and minimize your private loans. Private loans cost a lot more than government loans. Don't worry about loan amounts either - even though 120K sounds like a lot (and it is!) a lot of places will help you repay your loans as part of your compensation package. Maybe not 120K worth, but maybe 40-50K worth.
My program is almost 1200/credit hour, and it is 45 credits, so I am around 55K for total costs plus living expenses, and I think my loan total is approximately 60K right now. I worked a TON of overtime, cut down a lot on expenses, and got a roommate. I don't buy new clothes, don't have a car payment, and can't go out every weekend like I used to, but it will all be worth it in the end. You would be amazed at how much you can save when you are working a lot and not spending as much as you used to. It all boils down to making a few sacrifices for what you are really trying to accomplish. Good luck!