Anyone regret getting those student loans?


I also am a mom of three, struggling to make it thru school. I am getting financial aid, but since I don't work FT, I am getting some loan money to help out with expenses. Every semester though, I cringe at the thought of those loans racking up. But I know it's an evil necessity if I ever want to get thru school. Does anyone wish they hadn't gotten that "extra" money because they are so boggled down with loans now? I just don't know of any other way.

YES I *greatly* regret it! I thought I'd had enough money saved up from when I was a computer lady (and making real money) but I didn't! I should have taken it as a sign that it wasn't a good option for me.

I don't regret going into nursing. I love it, and I've been a good nurse. But the money is just dragging me down right now. I am making about 1/5th what I would be making if I were still a computer systems manager (down from about 1/2 when I left. MIS people moved on and up, and I didn't. You can live with a 50% pay cut, but after that, it's a bit difficult). I am paying $200 a month and I'm not getting anywhere!!

I just got an email from my boss, my merit raise will take effect July 1. It's the maximum - 4%. Wow.




375 Posts

Years ago, I went to school as a divorced parent via student loans. Never minded the payments because the alternative was eternal financial crisis. Now I am dependent on no one and my four kids and I enjoy a good life.


218 Posts

Yes I regret it although it was necessary at the time. I think I'll be paying until I retire! One good thing tho' I got married in Dec. so that lightens up the load. LOL.I don't regret going into Nurs. as diif. as it is at times.


149 Posts

Student loans...enough to make my skin crawl! I swear I'm going to be paying student loans until God knows when. I'm not even done yet either. I applied for financial aid for the community college I'm attending. Well, I've already got 88 hours transfered in from another school. Now they tell me they have a 90 hour cap on Fin.Aid. After all the work I did to get my stuff together to apply, and THEN they tell me. The community college is affordable, and I'd prefer not to get any loans. I have an interview on Thursday working for a hotel. Out of all the resumes I've sent out they were the only one to bite. I need the money, the hours are great, and it will get me out of the hole we're in. This is just enough to get us to through until I am an RN.


107 Posts

:confused: I have a question....

I do regret having my husband get student loans while he got his degree, but at the time we didn't have a choice. I'm sure that is usually the reason we get them.

So if I have the opportunity to receive $2,000 a semester from a hospital system in return for 2 years of required employment full-time with them, should I take it?

Do you think it's better to have the freedom of choice where you'd want to work or to be debt-free?

It's a hard decision because there are good and bad reasons for both. I'd like to hear some points of view to help me with my decision.



373 Posts

Well, I am not at that point yet in school, but if it was a respected hospital, and you felt comfortable, I would definitely agree to work for them. But like I said, I am just finishing my prereq's, so I probably am not a good judge on that yet!

jschut, BSN, RN

2,743 Posts

Has 20 years experience.

I didn't have to get a huge loan ($1500), but I can surely say that I don't regret it. I know I'll have to pay it back, but it was the only way I could finish nursing school. And that's a dream I'm just not willing to give up!

I'll have to get bigger loans for my RN program, and I guess I'll cross that bridge when I come to it...



97 Posts

I think that loans are the one way to go... although they are aweful to pay off.... how else would you make it through nurseing school (or any school for that matter????)

i think this way... I could make $8 an hour for the rest of my life or get a loan for $20,000 to make $20 hr working somewhere in a field I love doing something I love....

If it isn't a school loan it would be / could be mortgage, credit cards.... I would want to make it worth my while....

Good Luck to you....


1,326 Posts

I graduated from a 4 year college with a degree in Science a few years ago. I am only a couple of years into paying off my Student Loan debt of $17,000.00

I don't regret getting the loan, because after grants, there was absolutely no way to pay for the rest of it and the experiences that I had in college I would never trade in.

I do regret listening to all those people who told me that I "could do so much with a science degree". And I also regret that where I am from - Pittsburgh - is a city that does not have a need for people with college educations. There just isn't a market for people with an education so it is hard to find a job or one that even pays enough so that you can pay back your loan.

However, because of my 1st student loan I am bound and determined to do what ever I can to get through nursing school without racking up more loans. So far, I have only been taking 1 pre-req. a semester so I pay off the credits right then and there. I'm hoping to get a job with a hospital that offers tuition re-imbursement for when I get into my actual nursing classes.

All in all, student loans are a necessity. For as much as schools charge on credits, books, uniforms, etc. even if you work FT you would still probably have to take a loan. So, don't feel alone.

In a lot of ways nursing students are pretty lucky compared to people in other majors because there are a lot of opportunities to work while you are going to school or have a hospital re-imburse your tuition.


302 Posts

I don't regret my student loans, I figure they are an investment in myself. Have you ever heard of anyone regretting a loan for a car or a house? I feel like the loans are an investment, not an expense.

Bonnie Blue

155 Posts

When I graduate, my school debt will be in the high 5 figures. The interest rate right now is five percent. My credit card debt is $3k at 10%. I'm working part time to pay off the credit card debt. Financial people say that student loan debt is "good debt", return on investment so to speak. Also, you can negociate payments with student loans, with credit cards and the like you can't.

Debt is painful but student loan debt is less so.

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