Bad Decision -- Huge Amount of Debt, Need Advice

[cogath]

I've told my story on here before, but it has been on my mind again now that I'm sorting through my last year of financial aid paperwork.

I entered college when I was 17. I should have never been allowed to make such big decisions for myself at that age because I was vastly immature and did not have very good foresight. I thought I wanted to be a doctor, and decided to go to an expensive private school because my friend was going to it, and because I figured that after becoming a doctor the debt wouldn't really be a big issue.

Little did I know that the lifestyle of a doctor wasn't for me. I was able to get the grades and nearly finish my first degree in a hard science before I decided that I'd rather be a nurse.

Long story short I will be about $60-70k in debt by the time I finish. I tallied the numbers up last summer but I'm too afraid to look at it now. About $30-40k of that is in private loans and the rest are in government loans. This is just for tuition. I never studied abroad, lived the high life, etc.

I know I am stupid, and I readily admit to making this bad decision. It was entirely my choice, I was warned, and it is my fault. I accept this, and I am looking forward to how to handle this amount of debt and pay it off. I want to repay every cent. Right now, I have about $8k in savings and am hoping to retain this until I graduate next May. Hopefully this money will carry me through until I obtain a job.

I'm just wondering if anyone else has experienced this situation, or has any advice for me, or what my life will be like. Starting wages for nurses in our area is about $35k a year. I can survive on about $5k a year. Do you think if I work a few years, live in poverty, and take a bit dent out of this debt, I will be able to lead a fairly normal life afterwards?

[chicagoing, ADN, RN]

Hi, the tuition estimate of $1400 is per UNIT, not semester.

[cogath]

For me, I would be in debt either way. My parents make enough money for me to have an EFC of $14,000 but they are unable/unwilling to offer me any help, and I do not blame them for it. It is what it is.

Had I gone to a state school, I would recieve no financial aid and would still be in the same amount of debt because at my private school I get 50% paid in scholarships.

I am not underestimating my money for living because that is what I am living on now. It may be more close to 6-7k, but much less than 10k. I am very frugal and although my parents are not able to help fund my education, they do support me by paying my insurance (health, car, dental). I pay for everything else, we live in a modest apartment and I don't spend a lot.

Thank you for your support with my pet. She is a challenge but I can't simply let her go because of her illness. She will live with us as long as I can care for her until she passes, and then I won't be getting another pet until I'm more financially stable.

I really appreciate all of the advice. I'm looking into getting a government job. I also really like the website a few posters have mentioned that helps with budgeting and debt elimination. Once I graduate I am going to do all I can to downsize even more, find a job, and work off this bad beast.