Looking for LPN school in Colorado

GizmosMom · Apr 3, 2008

I think just the fact that you're thinking about "how much debt is too much debt", salsaking, shows that you have a good head on your shoulders and are realistic for a young guy :yeah: You're thinking long-term. I guess you have to say to yourself (and this is what I say to myself - a LOT), "What will I be doing in 2-3 years if I don't do this - and take on the debt that goes along with school?" If it's a profession such as nursing which has possibilities for employment, advancement and pays pretty well, it's probably worth the risk.

That being said I know how you and everyone else feels about more debt. It's darn scary. It's a big commitment. And I'm not going to see my 50th birthday again. Heck, I'm not going to see my 55th birthday again either. :bugeyes: And I'm still thinking of re-careering myself. Unless you're born super rich, the days are gone when you can just hang it up and put your rocking chair to work.

Besides - I like learning and working and feel I've still got it in me. Now about finding the bucks for it and still eat and have a place to live . . . :rolleyes:

salsaking · Apr 3, 2008

I think the best thing to do is try to save up now and pay as much as you can with cash.
How do you figure Sallie Mae will double by the time we are out of school? The interest rate is about 5%

Did you already apply for the loan and get 5%? That's a pretty low rate for the SM loan, most people seem to be getting around 8% or so. Also you need to keep in mind that it is a variable rate and it can go up on you. Let's say you take out 40k at 8% and get on a 15 year payment plan. You would need to pay $353.59 a month for 15 years which will end up costing around 64k total. Now that's if you begin paying right away! If you only pay the interest or if you wait till you are finished with school to begin paying then you will be paying a lot more.

albpreemieRN · Apr 3, 2008

I applied just to see what it was going to be. I got $20k at 5% on my own. It will probably double if I get a co-signer. Honestly, I think it's worth it. We're young and have years to work. I think of people who have been in school for bachelor's degrees in subjects that do not have job prospects and they are in at least $80k debt. At least we know nursing jobs will be in demand and we will have steady salaries!

Did you already apply for the loan and get 5%? That's a pretty low rate for the SM loan, most people seem to be getting around 8% or so. Also you need to keep in mind that it is a variable rate and it can go up on you. Let's say you take out 40k at 8% and get on a 15 year payment plan. You would need to pay $353.59 a month for 15 years which will end up costing around 64k total. Now that's if you begin paying right away! If you only pay the interest or if you wait till you are finished with school to begin paying then you will be paying a lot more.

tsalagicara · Apr 4, 2008

Thanks. :) I'm looking forward to going to Concorde, and will be starting the LPN program on April 21st. I have looked into the RN program, actually scored plenty high on the N.E.T. to get in, but the cost for their RN as of right now is a little over $40,000. I would be able to get both full Pell and Stafford with the RN program too, but would still have to take on an additional private loan to make up the difference. So, I'll just go for the LPN for now, I have heard that the LPN program there is very good, and it's been around for a lot longer than the RN program.

I do agree with you that good things will happen for all of us. We just gotta keep on keepin' on! :nurse: Good luck to all of you that are going to DSON and other places, hopefully we won't all be buried in debt when it's all said and done.

From tsala:
I will be going to Concorde, however, for their LPN program. It's not cheap, but I will get full Pell grant for both financial years and Stafford loans, so that should cover it.
That's good news I know how you feel about DSON, though - seems like a good school but trying to finance is a bear. I'm still looking at Concorde but the cost is scary there, too. However like you (even though I'm no youngun' :chuckle ) I want a good job that's always been a dream for me in many ways and the thought of getting "just a job" somewhere is very depressing
What time are you starting the LPN at Concorde? I know there's a class starting this April 21 and then I think there's one three months later.
Just a thought, but if you can get Pell and Stafford for the LPN program at Concorde, did you look into using Pell/Stafford for their RN program which starts July 7???
Good things will happen for all of us - I have to believe that - because none of us trying so hard are giving up

tsalagicara · Apr 4, 2008

I have to add, though, that I wish DSON still had their LPN program. It was cheaper than Concorde's. Does anyone know why it was discontinued?

salsaking · Apr 15, 2008

So how are everyone's school situations working out? I will be flying into Denver tonight to check out the school tomorrow morning. I will keep you guys posted on how it goes.

GizmosMom · Apr 19, 2008

Salsaking: How'd it go?

albpreemieRN · Apr 22, 2008

Salsaking how did you like the school? Jeff said I should expect my acceptance letter any day! I'm so excited!! :yeah:

salsaking · Apr 23, 2008

Sorry for the late replies..... I went to Denver last week and had a great time. I forget how beautiful the city is and how much different it is from Los Angeles. I met with Jeff and he's a pretty nice guy. We went over my transcripts and he gave me some history on the school and a bit of info on their future. The school itself is in a small building but it is a nice atmosphere and the location is not bad either. Overall I received positive impressions from the school and staff I was in contact with. I'm hoping I can get my financial situation figured out so that I can attend the school in the fall. He discouraged me from doing the Sally Mae loan for reasons we've already discussed and said that it's almost impossible to get approved right now without a co-signer or two. The only payment plan that seems feasible is to pay as you go $3000 down in september and then $1650 a month for the duration of the program. He said I only had a few weeks to decide if and how I was going to be able to finance my education because there will be someone waiting to fill my spot if I decide not to go there. So now I'm trying to frantically come up with $36000 before I leave for vacation to Panama in two weeks...........

GizmosMom · Apr 23, 2008

Thanks for the update. Figured you were busy. Come up with $36,000? Good luck. How does anyone "come up with" $36,000 ??

salsaking · Apr 23, 2008

I'll quote what he said "Ask your grandma for the money, she can loan it to you with interest as well". Now I wish I had a grandma with 36 k lying around but since I don't I have to look into personal loans, borrowing, and a whole lot of praying.

GizmosMom · Apr 23, 2008

I sincerely wish you the best of luck in coming up with tuition money for DSON. I wonder why they don't qualify for Stafford? I'm looking at the private school route as well, if it happens for me, because of my age. If I go to school, I don't want to wait extra years on a waiting list even if I could get stellar grades.