Nursing School Debt...

BritishStudent · Jan 13, 2003

not meaning to brag, but british students doing the diploma nursing program get a bursery (grant) Ive never met a diplomate coming out with more than $200-300 debt

EmeraldNYL, BSN, RN · Jan 13, 2003

I borrowed $19,000 for my biology degree and $36,000 for my BSN degree. I plan on working for a hospital with tuition reimbursement.

essarge · Jan 13, 2003

When all is said and done, it will be close to $42,000. I get $5,000 per year from work (negotiating on more though), in return for 2 years employment. I'm hoping to pay it off fast so I don't have that hanging over me along with all the other bills that I have. Thinking about picking up one agency shift per week (52 per hour) just to pay off the loans early! I am in a BSN program now.

mario_ragucci · Jan 13, 2003

right now I am planning on 7-9 grand debt in 2004 when I transform to RN. I work part time and have kilt a 401K plan to get to where I am now. Mountains of credit card debt, and still going deeper and deeper into debt. :-(

Angelica · Jan 14, 2003

I feel very grateful to not have any debt (so far). I retired from the Marine Corps, so I get a pension. Plus $900 per month in G.I bill benefits. The hospital where I extern is paying for my tuition and books.

deespoohbear · Jan 14, 2003

Can't remember what the total cost of my 2 year program was, but it was around $12,000...worth it though. I had some Stafford loans that have stretched out over 10 years (2 more years to go)...but the payments were really reasonable..under $75 a month...got a few grants...and the last semester I got the whole tuition paid in full because we had just bought a farm that summer and it really "whacked" out my financial aid paperwork...I am thinking about going back to school for a BS in Health Care Services, but my husband isn't too keen on this idea....

frann · Jan 14, 2003

I think I took out about 9,000 for a 2 yr adn program. used a lotofiit for living expenses.But here's the problem I had. My loan was originally supposed to be paid back over 10 yrs with gradually increased payments. Well my loan was sold to another company. and they just figured I wanted to keep the same payments and pay it over 21 yrs!!!! And of course they did this without telling me.

If any of you have this company AFSA Data Corporation- well watch them they are scumbuckets! Luckily I caughtthem just in time. I thought my term was almost up, but still had most of my balance left. Turns out these guys aren't regulated by a bank, they are regulated by the dept of ed. Who has no idea they are regulating them.

colleen10 · Jan 14, 2003

I have $17,000.00 on my first BS in Agricultural Science. I am paying it back over a course of 10 years, graduated payment schedule. I have allready had to defer it twice, each a 6 month period because I was laid off. Currently the payments are $170.00 a month but every two years they increase, so I think that by the last two years it's something like $350.00 a month. Yowser, like I'll be able to pay that!

I am currently paying for my pre-req. and co-req. courses for nursing out of pocket since I am able to work full time right now, but when I am actually in my nursing classes I'll take out a loan. Since it is Community College it won't be too bad. I'm hoping to make it out with maybe $5,000.00 in debt at the end of the 2 year ADN program.

I think I will look into getting the Perkins Loan compared to the Stafford, which is what I used the first time, per Sally.

llg, PhD, RN · Jan 14, 2003

Originally posted by EmeraldNYL
I borrowed $19,000 for my biology degree and $36,000 for my BSN degree. I plan on working for a hospital with tuition reimbursement.

Please be careful to get a clear picture of a company's benefits before making any committments. When most employers say "tuition reimbursement," they mean that they will help you pay for classes that you take while you are employed by them -- NOT classes that you took beforehand.

It sounds like what you are thinking of are "student loan repayment" programs -- and they are MUCH more rare.

llg

mario_ragucci · Jan 15, 2003

Originally posted by Angelica
the Marine Corps Plus $900 per month in G.I bill benefits.

When I was in, from 1983-1987, they had this thing called VEAP, I maxed it out at $8,700. How much education assistance depends on when you were in. That Ronald Reagan sure was generous during my watch. As a total civilian, i still get plenty of help from Uncle Sam and Aunt Betsy :-(

caliotter3 · Jan 15, 2003

I had to quit my BSN program when I got laid off from my full time LPN job. Had to move out of my mortgaged house. Long story, but ended up living in my car. All the credit cards that I was getting cash advances from in order to pay for nursing school etc./ Well, how many years now have they been charged off as bad debts? Nobody will rent to me. They call me a deadbeat. But I say who gives a d n, I pay them. But when I get good and ready. After all, my credit is already ruined. The unfinished nursing education is worthless to me and the credit cards never got me into a motel once the companies closed the accounts. Was it worth it? I wonder.

caliotter3 · Jan 15, 2003

Hey Mario:

Introduce me to your Aunt Betsy! I could use a suga mama or a suga dada. Don't really care which. Just kidding!