Financing your future: How do you afford living expenses while in an ABSN program?

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This may be a bit premature since I haven't been accepted to my program yet, but I'm already frantically crunching numbers and trying to figure out how to afford the cost of my program plus the cost of living. So I wanted to ask my fellow nursing students: how do you do it?

A little background info about myself: I'm 23, single, have a BS in kinesiology, and currently work in an urgent care clinic as an uncertified medical assistant. I will be moving to another state this summer (assuming all goes well with my application) to begin a post-baccalaureate accelerated BSN program. I don't know anyone in the town I'm moving to with whom I could live, so I will have to budget for rent and utilities. I've also been advised by the admissions director that students don't usually work during the program due to the time-consuming nature of the accelerated program (although as far as I'm concerned, choosing to work while in any nursing program requires extreme motivation, excellent time management, and a bit of insanity). He also mentioned that financial aid doesn't typically cover the entire cost of attendance (over $55,000 for 18 months...yikes).

Would I be insane to try to work while in an ABSN program? I worked 1-3 jobs at a time while getting my BS to stay afloat, but I know nursing school requires much more time on campus or at clinicals than what I'm used to spending on school. Does anyone on here have experience working through nursing school (accelerated, or otherwise)?

I would love to hear everyone's personal stories and am grateful for any advice you can offer!

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Start researching scholarships!! Your school should have nursing scholarships as well as public nursing and non-nursing scholarships. Also, there are some loan forgiveness programs since it sounds like that is in your future. Do some research!! Unfortunately, you will find that your financial aid options will be more limited with a 2nd bachelors. You will have to rely on private loans as your options for federal loans will be very limited.

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Specializes in LDRP.

Would it be possible to put off starting the ABSN for a year or two and saving up during this time? Financial aid only cover so much, and private loans are definitely not a preferable option. [emoji53] I entered my ABSN program a year earlier than intended and used federal and private loans to finance my education and monthly expenses while working up to 15 hours a week between two jobs. I am dreading my student loan payments come July, but I look at it as an investment in myself and my future.

I agree to look for scholarships! You may not get any, but it never hurts to look! If you want it bad enough you'll figure out a way that works for you. Best of luck!

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You know, it may sound silly and even stupid....but I hadn't even considered scholarships as an option! I guess since I was rejected previously, this option didn't even occur to me but I'll definitely investigate further! And yup...I've been dreading taking out private loans!! Thank you!!!!!

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Would it be possible to put off starting the ABSN for a year or two and saving up during this time? Financial aid only cover so much, and private loans are definitely not a preferable option. [emoji53] I entered my ABSN program a year earlier than intended and used federal and private loans to finance my education and monthly expenses while working up to 15 hours a week between two jobs. I am dreading my student loan payments come July, but I look at it as an investment in myself and my future.

I agree to look for scholarships! You may not get any, but it never hurts to look! If you want it bad enough you'll figure out a way that works for you. Best of luck!

Sheesh! You work hard!!!! But I can't really put off admission any longer because I don't make much at my current job and I can't afford my current student loan repayments right now so I need to defer them! Definitely digging myself a hole...but it'll be worth it in the end!

Like I mentioned, I completely overlooked scholarships as a possibility, so I'm going to start researching ASAP!

Do do you mind if I ask what job(s) you work? And do you think that working has made it harder to succeed as a nursing student?

Thanks for your advice!

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I used a combination of loans and working part time. I felt I had a really good grasp of anatomy and physiology 1 and 2 (actually had a retired MD and a surgeon as my professors) so I tutor those subjects to prospective nursing/medical/health sciences students. Also tutor a myriad of classes too but these two were the ones I enjoy teaching. There was never short supply of students who needed tutoring and wanted to pay at my college, plus I actually love teaching these subjects anyway! It was perfect as I could make the schedule that fits. Living very frugal and humble during nursing school helps too.

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Specializes in ICU.

You may find you don't qualify for any aid at all with already having a degree. Your first priority is to contact the financial aid office so they can see what you have available to you.

$55k is an awful lot of money. I know it's an accelerated program, but that's still a lot.

So then after you figure out how to actually pay for the education, you need to figure out how to live. You will be looking at 18-21 credit hours a semester. Where will you find time to study and work? That amount of credit hours is one thing in the prereqs, but quite another with nursing classes.

My advice? You need to do more research and planning. Maybe save money up for a year or so to live on. Otherwise, you will crash and burn first semester.

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Do you have to do an accelerated BSN? Why? Doing a traditional, non-accelerated BSN program would take a little longer, but cost less (depending on where you went, obviously) and continuing to work while you're in school would be more do-able. Have you talked to the nursing programs near your current location? I would strongly encourage that before you move to another state for an expensive ABSN program.

Best wishes for your journey!

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Or since you already have a bachelor's, have you thought about starting with an ADN from a community college? it'd be a whole lot less than $55k. As it stands, $55K + whatever loans you have now + whatever you have to borrow for living expenses (since it's unlikely even 15 hrs a week of work is going to pay rent, utilities, transportation, and food)=a huge loan payment in the end. Nurses make a decent salary, but I know mine wouldn't feel decent at all if I had to pay $800 or so a month in student loan payments for the next 10 years. I'm not sure that's going to be worth it in the end.

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Specializes in LDRP.
Do do you mind if I ask what job(s) you work? And do you think that working has made it harder to succeed as a nursing student?

I worked as a student secretary at my school. Hours were flexible, but only between 8a-5p M-F. My second job was to transport and supervise DCF (some places I hear call it DCFS I believe) visitations between children removed from care and their parents. That job has more flexible case times since it could be evening or weekend if need be, but once a case had a time slot it typically shouldn't change (which was hard when clinicals kept changing every month or so).

I think it made me use the time I had more effectively as a student. Knowing I had to work at least somewhat to keep my head above water financially, I knew it wasn't an option to slack off or not work. What was really difficult, though, was when there were group projects or group quizzes and said group doesn't care that your hours aren't so flexible or that you need to work. A lot of my classmates were still living off mommy/daddy or their spouse was paying the living expenses (they didn't work at all or worked very little during the program) so they didn't quite get it and were not the nicest about having to work around my work schedule. In that aspect, working absolutely made it harder to succeed as a nursing student. But at the end of the day, you've got to do what you've got to do! I had one classmate work full time night shift the whole ABSN program! I doubt she'd recommend that to anybody, but she had to work and somehow she managed to survive the whole year.

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Wow! Flexible hours or not, working two jobs while in nursing school is impressive! What you mentioned about group assignments is one of my fears about working--I know that personally, I can study or do homework at 3 a.m. no problem, if it's what my work schedule allows, but that isn't necessarily conducive to effective group dynamics.

And full time nights???? Oh my gosh...I tried to balance night shift (8p-4a) immediately followed by class (8a-2p) for about a month before I couldn't take it! Your friend must have INSANE levels of dedication and perseverance!!!!!

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I actually tutor A&P right now and I love it too!!! Do you mind if I ask whether you took out any private loans, and if so, what your experience is/was with them? I'm dreading the all-too-real possibility that I will need to take out private loans, but have heard nothing but horror stories about them.

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