How much do you owe in student loans? - page 4

I've been going to school on and off since I graduated high school in 2005. I finally finished all of my pre-req classes this last December at the community college. I also got my LPN in 2011. At the... Read More

  1. by   twinmommy+2
    For my ADN, I was able to get through with nothing owed. Used the Montgomery GI bill (thank you ARMY) and Pell Grant.

    I'm now in a RN-BSN program, looking at around $3000 a semester in federal loans with $2000 in a scholarship taken off and still have some small help with the Pell Grant.

    I also work for the VA, and am kicking myself I didn't apply for the tuition assistance when I was able because I was going for the bigger program that was offered and then denied. Oh well, I'll just have to re-apply in the fall. I'm hoping to come out of this with something like $5000 after I'm done with this program owed.
  2. by   canchaser
    $80000 for a bsn and MSN. Graduate in May found out I likely am making more at the bedside and will drop a few dollars in pay but hope to soon make it back up in a few years. Not sure how I will pay it back cause I'm living paycheck to paycheck now and hubby can't find a decent paying job. He's striking out in. New business as a DJ which takes a lot to start up.
  3. by   dirtyhippiegirl
    Nothing. My father paid for my undergrad and even offered to pay for medical school if I would follow in his footsteps.
  4. by   phoenixnim
    I think by time I'm all done I'll be looking at somewhere in the neighborhood of $100K for the completion of a MSN. Same boat as a previous poster, I have two small kids and am a single mom, I can't work FT and go to full time nursing school, so I'm going to take out a loan and cross my fingers and pray. My plan is to end with a CNM, and thankfully, currently, the salary for that in my area is comparable and it should be okay. At least I'll be happy and not stuck in a dead end job where I'm miserable. Even halving my future income in half to pay loans will still net me more take home than I currently have, so I see it as a win and good investment.
  5. by   MN-Nurse
    Quote from Glenna, LPN
    How much do you guys owe in student loans?
    Associate degree RN, graduated May, 2011. I owe $21,246.13 in school loans. Truth be told, there is probably another $3,000-$4,000 on my credit card related to school expenses.

    In better news, I have so far made $114,347.23 working as an RN.
  6. by   geocachingRN
    It is indeed more possible than you think. In CA there are state programs for nurses working in rural and poor areas that contribute to paying off loans. And there are plans in the works if you pay for ten years the balance will be forgiven. If you are concerned, I suggest you get involved and write your lawmakers and professional organizations to influence change in this area.

    OSHPD - Foundation - Bachelor of Science Nursing Loan Repayment Program

    Who Qualifies for Obama's 10% Student Loan Payment Cap? - Daniel Indiviglio - The Atlantic.
  7. by   Buggus
    For my BSN, I ended up with about $11,000 in student loans and I was able to pay it all off within 5 months of graduating! I wanted to make sure that I paid it off before interest kicked in. I worked part time all through college and got a good amount of scholarships, so that really helped. I did my 2 years of prereqs at a university and got the full college experience (and met my future husband!) and and then went to nursing school to complete the last 2 years of my degree also at a local university. If could do it over, I wouldn't
  8. by   katielea
    My first degree was a BA in psychology, took 5 years, I did it without loans by working full-time and taking class full-time.

    My second degree (working on it currently) is a BSN and by the time I'm done I'll have about $20k in loans. I'm not TOO concerned as I'll be working in a highly-populated Canadian city (and in Canada, all nurses are unionized so we do okay in the wage department).
  9. by   SuzieVN
    Quote from Lil'mama
    I owe nothing on my Associate degree. I graduated in 2008 and had it paid off by early 2009. It was less than 5k. This is why I'm hesitant to go back for a BSN.
    Be scared if you do. BUt if you DO, be sure to get federal, NOT private loans- so they will be on the income based repayment plan,,,,
  10. by   NJnewRN
    Quote from netglow
    OMG I read this stuff about debt, then I read the new posts from peeps who just finished another degree and are going right into accelerated BSN. They won't ever pay off their loans. Most of them will never work one day as an RN either. I don't have debt, but this all makes me sick to my stomach.
    How do you think I feel?
  11. by   waufah
    0. I paid my way through school. Halfway through my masters, and paying as I go. The best decision I ever made was to go to a community college for my ASN.
  12. by   BlueDevil,DNP
    I don't have any student loans, but student loans are not the problem. Car loans, credit cards, iPhones, mortgages or rent that are more than one can afford, and general lifestyle expenses are the real problem. Of all of those things, student loans are the one investment that will always be worthwhile.

    Don't borrow money for depreciating assets (i.e. a car). Don't make installment payments on capitol goods, or put more on a credit card than you can pay off, in full, when the bill arrives. Don't buy a home unless you are dead certain you will live in it for a bare minimum of 5+ years and you can afford an additional 15% in upkeep and expenses every month over the mortgage, as well as saving and investing a minimum of 15% of your income. Don't buy toys you can't afford (ipads, smart phones) and indulge in a lifestyle you cannot support (restaurants, beauty salons, magazines, starbucks, etc). And here's the rub: if you owe anyone any money and aren't saving enough for retirement, you can't afford that stuff. Sorry, you can't. I get that you want it. I want stuff I can't afford too. That's life. You just have to learn to live within, and even below, your means. Do that for 10 years, and you will never have to worry about money again the rest of your life. Don't, and you will worry about money every day for the rest of your life, and very intensely in the last 1/3 of it. Don't do that to yourself.

    Education is a worthwhile investment. The rest of that stuff is just stuff you won't even remember having. A house you might remember, even if only out of regret, lol. Hold off on the house perhaps, until the time is right. Definitely forget the lattes and iPhones. You really can't afford it, you just think you can/wish you could/want to pretend you can. You are borrowing from your future and bankrupting it. Be smarter. Borrowing for education = OK.
  13. by   TheCommuter
    Quote from BlueDevil,DNP
    You just have to learn to live within, and even below, your means. Do that for 10 years, and you will never have to worry about money again the rest of your life. Don't, and you will worry about money every day for the rest of your life, and very intensely in the last 1/3 of it. Don't do that to yourself.
    You gave some salient, sage advice.

    My parents are in their mid-50s and fall into the latter category: not a penny of retirement money, living from paycheck to paycheck, intractable credit card debt, home equity debt, etc. They will definitely spend the last 1/3 of their lives with intense worries about finances.