Cost of living loans! Need advice fast!

Nursing Students Pre-Nursing

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Hi everyone!

I am 20 years old and a student studying to be a nurse. Next year I plan on applying to a LPN program that cost about 10K and devoting my life to the program so that way I will pass! Luckily for me I am not married and I don't have any kids as dependents. However I do want to live on my own but quit my job and go to school full time. My school does offer loans that would cover the cost of my living. My only fear and worry is that with all the bills I pay rent, car, gas, just day to day items plus the cost of my schooling and materials the loan I would take out would be for 30K. Does any one have words of encouragement? I am becoming a little scared about just quiting my job and going into debt. Please if you have any ideas or comments I would love to hear them! :D

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well i would say to go for it :)

i had my daughter very young (17) and went straight to college when i graduated high school early. i funded my education and living expenses on grants, scholarships, and some loans. you will find that the opportunities for grants, etc. for undergrad are quite vast! my school also offered some wonderful scholarships, many of which were for nursing students.

now i am doing an accelerated BSN-MSN program for non-nurses and getting married this winter. because funding for grad programs mostly consists of just loans, my fiance and i are paying for the majority of my education through stafford and graduate plus loans. ultimately, it WILL be worth it. you have to picture yourself in the future and realize that if you did not accrue the expense to get there, you would never be there in the first place!

i did some research with liver disease last year and my supervisor made a great point with this, too. he is now a lab manager in biotech (the degree my BS is in from my undergrad institution) and makes 90k per year. he said he will have student loans for what seems like forever, but that if it were not for those loans, where exactly would he be?

education is so powerful. once received, nobody can ever take it away from you. if this is something you want to do, GO FOR IT! :) you will definitely be able to live frugally while in school and pay back the debt.

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Specializes in Critical Care, Postpartum.

Staying with parents is not an option?

I'm not working, took my prerequisites and waiting to hear from my ABSN program for a Spring start. I will not be taking out any loans to pay for this degree. It's because I'm still paying for my student loans from my first degree.

If you have to take out loans, make sure you manage your money wisely. Hopefully the interest rate is low too. I had to change my spending habits when I lost my job. I'm able to manage for over a year now and I pay rent and bills on my own.

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Hi everyone!

I am 20 years old and a student studying to be a nurse. Next year I plan on applying to a LPN program that cost about 10K and devoting my life to the program so that way I will pass! Luckily for me I am not married and I don't have any kids as dependents. However I do want to live on my own but quit my job and go to school full time. My school does offer loans that would cover the cost of my living. My only fear and worry is that with all the bills I pay rent, car, gas, just day to day items plus the cost of my schooling and materials the loan I would take out would be for 30K. Does any one have words of encouragement? I am becoming a little scared about just quiting my job and going into debt. Please if you have any ideas or comments I would love to hear them! :D

30K for a one year LPN program sounds like a lot of loans! Is your school eligible for Pell Grants?

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mzchas, yes my family is an is an option but we don't really get along.

curiousme, the program is only for 10K with my car payment, gas, food, insur, cell phone i spend about a 1K a month. Than on top of that rent and expenses. It just adds up to be right under 30K

pink zebra, thank you so much for your advice. everyone I have talked to so far agrees that in the long run it will be worth it. It seems like every student in the US will have to pay some sort of debt off for college.

thank you guys!

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Specializes in Operating Room.

Seriously, stay with your parents. You don't know how expensive it is to live on your own until you do it. When I was 17, starting college, I was very rebellious and did argue a lot with my parents. I swore up and down that I would move out, but my head told me to stay. Three years later, I have no debt, have a GREAT savings account, and will grad next year. It is easy to take out loans, but it is a lot harder to pay them back. Do the loan calculator to see how much you would have to pay monthly once you graduate -- if you find a job in this climate.

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Specializes in CNA, Nursing Student.

Have you considered having a part time job while in school? Might cut down on some of the living expenses and give you some breathing room.

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