CRNA Contracts - page 2
I've seen posts in the past about new grad contracts that have loan pay back options. To all of you getting ready to graduate or already out, how have you found these contracts? Do groups come to... Read More
May 14, '04Occupation: SRNA Joined: Sep '02; Posts: 92; Likes: 5Geecue said:
"Sheesh...she should have headed for the CPA route...not CRNA. There's alot of validity to what she said but bottom line is: NOTHING beats being debt free! You're going to do well wherever you go...making more than anything you could do as an RN. If you have to take the loans....bust it out and pay them off when you can...as fast as you can."
Actually, I think I just demonstrated that I "beat" being "debt free" by a country mile - or more! ...and you go on to encourage others about school loans to "...pay them off ...as fast as you can." Mmmhhh, I would have to say that is the EXACT OPPOSITE of what I just outlined. Please "do the math" and come up with a better solution for me. Someone? Anyone?? ;-)
Still, thanks for the compliment on missing my calling as a CPA. Actually, I am one of these individuals who believes I (YOU!) should be able to study and learn any and all of this material if I am simply willing to make the effort. I encourage all of you to "put your mind to it" and don't stop learning after graduation. There are lots of areas to be proficient in and managing this newfound $$$$ is definitely one of them!
Jun 13, '04Occupation: RN. Neuro ICU Joined: Apr '02; Posts: 449; Likes: 3I really like this thread, I don't have anything smart to say but I think she has a point. in fact I've heard finacial stratigest say not to worry about your school loans so much.
Jun 14, '04Occupation: ICU nurse at present Joined: Sep '03; Posts: 50; Likes: 4u-r-sleepy - u-r-right too. No question about it in my opinion. I am a midwife, currently working as an ICU nurse (loving it) and planning to go to CRNA school in 2005. I worked as a midwife for 11 years and paid my student loans off over 10 years, all the while accumulating assets. There are many better ways to spend your income than by paying off low interest student loans. To name a few - max out any pretax retirement plan, invest in IRAs - I did Roths - pay off higher interest loans like car, credit card, or even mortgages. invest in mutual funds, start education savings for your kids......Each year your salary should go up, at least a little, and your loan payment will seem smaller and smaller each year. Also, demonstrating that you make payments monthly, on time, over time looks really good to lenders.
I am going to a post-master's program, will borrow the 18,500 a year or whatever it will be by then, and will pay for the rest with some of the money I saved and invested over the years - while paying my student loans off simultaneously.
Jun 14, '04Joined: Dec '03; Posts: 3sleepy,
Dont get me wrong, I love the idea of writing off the student loan interest etc but I believe the following is true of writing off the interest payments (however these laws are always subject to change):
You can only write off the interest payments for the first 60 months of repayment
The write off in based on how much you make, the more you make the lesser the percentage you can write off.
I am pretty sure this is how it works, but check for yourself.