Anyone out there with student loan issues?

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Specializes in Med surg, cardiac, case management.

I posted this first over at the male nursing section, but I figure there's a bigger audience here.

Anyway, I wondered if anyone else here had student loans worries. I'm about to start a direct-entry MSN program and will end up owing about 100K. I don't regret my choice and I'm sure I will find a way to pay it all back.

But I have to admit, it does freak me out when I think about it :eek:

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Specializes in Med/Surge, Psych, LTC, Home Health.
I posted this first over at the male nursing section, but I figure there's a bigger audience here.

Anyway, I wondered if anyone else here had student loans worries. I'm about to start a direct-entry MSN program and will end up owing about 100K. I don't regret my choice and I'm sure I will find a way to pay it all back.

But I have to admit, it does freak me out when I think about it :eek:

I feel your pain, somewhat. I owe 20K right now, still, and don't know when I'm ever going to be able to get it paid off!

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My hubs et I owe about $40k between the two of us! It is about $400 per month for 15 years! Yikes! By then it will be time to start paying for the kiddos!! :w00t::w00t:

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Specializes in ER,OR.

I have study loan up to 12 000euros....in Finland, my pay is about 1900e/month - taxes(30%), wich leaves me about 1300e.

After that i have to pay my rent (500e), phone (50e), car (150e)...

So, after all those bills, i have to survive the whole month with 600e..And that 600e is left for me to buy food, clothes etc and still would have to pay back my study loan (wich i dont do yet).

Just wondering did i really choose the right profession?

Ps. sorry my english, it is not my home language

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Specializes in Ortho, Med surg and L&D.
I posted this first over at the male nursing section, but I figure there's a bigger audience here.

Anyway, I wondered if anyone else here had student loans worries. I'm about to start a direct-entry MSN program and will end up owing about 100K. I don't regret my choice and I'm sure I will find a way to pay it all back.

But I have to admit, it does freak me out when I think about it :eek:

Hello,

I just graduated a direct entry program, (DePaul in Chicago), the tuition alone was nearly 50,000. Then cost of (living) attendance on top of that for the two years jacked my loans up to about 80K.

It is steep that is for certain. I chose the Income Contingent Repayment plan when I did my exit interview and this means that once my grace period is up I will initially only pay the interest until I file my income taxes. Then I believe my payments will be income contingent.

I still have my undergraduate loans as well, (about 60K), so I've got a load.

Thankfully the Army Nurse Corps is paying 30K (before taxes) directly to my lenders and in another year I can request another 30K through the health professions loan repayment program, (each 30K incurs another three year active duty obligation).

Good luck, remember, it is an investment.

Gen

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Specializes in Med surg, cardiac, case management.
Hello,

I just graduated a direct entry program, (DePaul in Chicago), the tuition alone was nearly 50,000. Then cost of (living) attendance on top of that for the two years jacked my loans up to about 80K.

It is steep that is for certain. I chose the Income Contingent Repayment plan when I did my exit interview and this means that once my grace period is up I will initially only pay the interest until I file my income taxes. Then I believe my payments will be income contingent.

I still have my undergraduate loans as well, (about 60K), so I've got a load.

Thankfully the Army Nurse Corps is paying 30K (before taxes) directly to my lenders and in another year I can request another 30K through the health professions loan repayment program, (each 30K incurs another three year active duty obligation).

Good luck, remember, it is an investment.

Gen

If that's the MENP program, then I think we're in the same program!:lol2:

I'm in the Autumn 2007 cohort.

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Specializes in Accepted...Master's Entry Program, 2008!.

I'll soon be in the same boat. UIC GEP (direct entry masters).

I don't see any other way around it and lots of people have already done it.

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Specializes in Perinatal, Education.

Google SNAPLE. You may find some help. There are a few loan forgiveness programs. You might also google nurse school loan forgiveness and see what comes up. Are there no public programs in your area? I am attending a Cal State program for about $1500 a semester. You can always transfer later. Wow. Nursing pays pretty well in the US, but it is hard to start your career in such a big hole. Good luck to you all.

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Specializes in rehab.

I have over $120,000 in student loans. I just graduated from an accelerated BSN program in May. My repayment is more than my mortgage and I can't see anyway to pay it off faster than 30 years unless we hit the lottery. Nursing will pay less than my previous career and I wasn't comfortable with the repayment then either, so what the hell - I just tell myself it's something I'll pay until I die. I just keep reconsolidating for better rates.

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Specializes in none yet, but I'm VERY excited!.

I'm going to drive a Geo Metro and stay in my low-end neighborhood for as long as it takes to get THAT monkey off my back. I can't stand being in debt!

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Specializes in Med surg, cardiac, case management.

Thanks everyone. I guess I shouldnt' complain---other people have mortgages and children and such. I just have an apartment, 2 cats, and a decrepit Honda.

And, this career really is an investment that will eventually pay off, in both tangible and intagible ways.

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My plan - continue going to school to meet the requirements for deferral and make payments to get the principal down. Then when it is doable start the formal repayment program.

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