Paying for School

Just in my reading threads over the years I have seen a few people say that they paid upfront. With today's financial market, and private loans for grad school more difficult to come by, I am delaying school to save up more...all of our living expenses ( i am the only income earner in my fam of 5) and part or all of the actual school costs. But if I have to take loans out, I have no problem with that but to work and extra year to not have to pay interest and have that majorily hanging over me has value to me, so I guess my big hope is to not come out with a ton of loans.


hopefully others will chime in! you planning on saving up to take out less?

I have saved up enough money to pay for school but I will accept the Stafford loans just incase I need the money. I could probably get by without loans and just live off my husbands income but it would be a struggle and I just don't want to have that hanging over my head while I'm in school.... there will be enough stress. Right now you can get $20,500 in Stafford loans (6.8% interest), per year, and don't have to start paying until 6 months post graduation. You can also get $17,735 in Grad PLUS loans (8.5% interest) for a total of $38,235 (at least at my school). If you need more that this, you will have to search for private loans.... harder to come by these days. Good luck!

Army is paying for my school and my wage
USAGPAN!!!!! 2nd in the nation,

Hooah!
c.

i always imagine that once you are a crna that you end up making less that u would in the civilian sector, which is true of other professionals... which for a short amount of time would I guess you would come out ahead b/c of going to school for free. Glad that people do it though!

Originally Posted by missnurse01

i always imagine that once you are a crna that you end up making less that u would in the civilian sector, which is true of other professionals... which for a short amount of time would I guess you would come out ahead b/c of going to school for free. Glad that people do it though!

Well, as a military CRNA you are eligible for a $40,000 a year bonus plus your wages/housing which is about for me at this level (1LT....low ranking) would be approximately $110,000/yr......it is an estimation, because 1/3rd our salary is not taxed and our insurance is free.....

I checked the CRNA program at OSHU (which is rather expensive) at $80,000 tuition plus 2.5 yrs of living expenses.....another $100,000 which is =====$180,000 for a CRNA education in Oregon.

I am getting paid for 2.5 yrs during school.......roughly ($62,000/yr) x 2.5 yrs = $155,000

So, instead of incurring $180,000 of debt plus interest, I am earning for 2.5 yrs and when I am a practicing CRNA (with garanteed employment, I will earn roughly $110,000 ~more as I rank higher) and I will be able to "moonlight" making Per diem wages at a civilian hospital while fulfilling my military obligation......

Not so bad.....

c.

yeah, while taking some extra chem classes and certs the next few years, I am also trying to beef up the finances. Like i said in the initial post, I am the only income earner for my fam of 5-so need to sell the house, get a paid for car, as well as pay off the other debt we have and save quite a bit of money to live on. I figure in 3 years I will be ready! I think that my choice might be different if personal loans were still readily avail, altho i cringe at the thought of coming out with so much debt. at the average starting wages it seems that my income will not be much higher than it is now (as I am a traveler and work 48-60 hours a week), except of course i wont be working overtime! that is my big goal right now, to not have to work overtime.

thanks everyone for posting, it's good to hear how others are doing it. I am also really trying to not consider schools where I would have to stay overnight out of town for clinical sites-or at least that they pay for your housing when out of town. there will not be money enough for all those hotels like the other poster said! I know most programs seem to have lotsa out of town clinicals, but I am trying to keep them fairly close...