Financial loans stress

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So I got into a grad nursing program at a private school and it will cost me about $80,000 for 2 years. Right now I am thinking of taking out private loans in addition to the loans that I got from FAFSA. I don't really know what my question is, except that I am really stressed out as I have never taken this much out for loans. In the end is it all worth it? I'd like to get some opinions from current students in similar situations or ex students who are done with their schooling and is dealing with loan repayment. What did you guys do to cope with the expense during and after school? Any advice, opinions, and stories are appreciated.... I am so stressed out about the financial aspects of this.

thank you

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why not try a nursing contract? i've herd of many people having the hospital pay for their schooling as long as the students works for them after they grad. for the amount of yrs they paid for.

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Specializes in Emergency/Cath Lab.

You know what I could do with that money other than going to school. That seems astronomical to me considering I paid MAYBE $6k for two years. Shop around and check different schools. No reason to be that in debt.

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i will see if hospitals around here have that options. Thanks, I didn't think of them.

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Specializes in Cardiac.

Those schools are a rip off.

You will pay up to 10 times the amount than your local community college and will get a less flexible degree. The credits at most of the for profit career schools are not transferable. That means if you want to go back later and further your degree you will have to retake a bunch of the classes.

I live in a low CoL area and one of the for profit schools charges $40k for an RN. It is $6k at the community college here.

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By "grad nursing program" do you mean a master's degree? Even so, $80K is obscenely expensive, is it a for-profit school? You can find a much better deal at a state university, so why pay more (and in this case, take out more debt) when you can pay less?

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Yes, I will be getting my master's. The school isn't a for-profit vocational school, it's a catholic private university with a pretty good reputation. the state universities aren't even accepting 2nd baccs and the classes are always impacted. i think I will have to suck it up and just pay for it afterwards.

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That is a LOT of money for a 2-year program. I understand that it's a private school, but that's still surprising. The only loans I've had to take out in school are federal ones that I've taken out to supplement my husband's income, since I'm not working. We have an 18-month-old, so we spend a lot of money on diapers and doctor visits, not to mention our regular bills. When I graduate they'll probably total about 15-18 thousand.

Many hospitals and facilities will help repay some of your loan debt, although I've heard that that's becoming harder and harder to find. Someone also posted a link on here about a government loan forgiveness program, although that only applies to federal loans, not private ones.

If I were you I would look hard for another program. There is no shortage of graduate nursing programs out there. Many reputable schools even offer online programs. Check into your local public schools or state colleges, and see if any of them offer an RN-MSN program.

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What state university system doesn't accept people with 2 bachelor's degrees for a master's program? Why not move to another state that will accept you into a program and work as an RN there while you go to their state university? It will be a whole lot less than $80K of debt no matter what state you find a job in and move to.

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Specializes in Operating Room.

I would be extremely uncomfortable taking out 80k in loans. My parents just bought a second house for that price! (Wonderful time to buy homes right now. sigh. Wish I was out of nursing school.) Have you calculated how much monthly payments would be once you graduate? It is easy to take out loans, but when you see how much you would have to shell out a month, it makes you think twice. The people I know that go to private universities have scholarships that cover most of tuition.

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Specializes in Nursing Professional Development.

I would not take out $80K worth of loans. You won't be able to pay it back and maintain any decent quality of life.

Find another way -- even if it means delaying your education.

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That would stress me out, but it all depends on what your options are. If nursing is your dream profession and this is the only school you want or are able to get into right now - that's totally your call.

I'm at a community college where I was able to get in without any wait at all (luckily). I think all in all it will end up costing me about 8-9,000.

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