Contracts/How to pay for nursing school

I need some advice and HELP!!! I do not know how to pay for my nursing school! I cannot get a bank loan; I am no longer eligible for a grant, and I do not qualify for a pell grant b/c I already have a BS and am going for an Associate's Degree. I know that I can sign a contract, but I do not want to stay in the area I currently live in for more than a few months after I get my license. Will other hospitals "buy out" your contract? Any advice would be grately appreciated!!!

[geocachingRN]

As I understand it, you can buy yourself out of your contract. I know one nurse who did that after a year. She hated her hospital and wanted to work closer to home. Good luck to you.

If you sign a contract in exchange for a scholarship and do not end up working for the hospital u can always pay the money back in a lump sum interest free or in installments with usually very little interest. However, they usually do not offer these scholarships until the 2nd semester of nursing school so you would have to find a way to pay for the first semester which is usually themost expensive but they will later reimburse that money you spent in the first semester. Hope this helps

You cant just get a regular federal school loan, when you say bank loan I assume that is a private loan?

[LuvMyGamecocks]

Federal student loans would be what I'd go for...depends on your income, but you can usually qualify for enough to at least cover tuition. You have to fill out the FAFSA and have your tax returns handy, but it's an easy process that can be done online.

http://www.fafsa.ed.gov/

I highly caution against signing a contract to work for a hospital in exchange for tuition unless you KNOW the facility well. Several of my classmates have made that mistake, and now that we are more familiar with the facility, they are second guessing their decision. If you like and trust the facility not to give you situations that may put your license in jeopardy, that's always an option.

Good luck!!!

[Jules A, MSN]

My ADN was cheap, just over $1,000 a semester. I'd consider using the BA you have to work and save a few dollars then start nursing school. Good luck.