Fall 06er's: How much in student loans are you gonna take out?

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I'm not sure yet, part of me wants to get enough to cover all expenses, childcare,gas, books, supplies, tuition and part of me wants to just take out the bare minimum and just struggle for 2 years so I dont come out with huge loan debt. The maximim I am thinking is $5000 (childcare alone would be $4000 for a 10 month school year) so $10000 total for a 2 yr ADN program.

But I'll also be planning on going straight to the BSN and then MSN, I just wanna finish it all and be done. I wanna be an FNP. So I guess no matter what I would have student loans in the end.

Because basically I cant even go to school without fulltime childcare (no family/friends to sit) and we cant afford it otherwise. So Im gonna have to do that. I'll be able to pay it all back by the time Im 85! LOL

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Specializes in OR Internship starting in Jan!!.

I'm trying to figure out if I should take out a lot now, because I will be over the cap of 99 hours by the time I get to the end of my program. 99 hours is such a stupid limit considering most programs require at least 72 hours. That doesn't make room for many mistakes.

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I'm not sure yet, part of me wants to get enough to cover all expenses, childcare,gas, books, supplies, tuition and part of me wants to just take out the bare minimum and just struggle for 2 years so I dont come out with huge loan debt. The maximim I am thinking is $5000 (childcare alone would be $4000 for a 10 month school year) so $10000 total for a 2 yr ADN program.

But I'll also be planning on going straight to the BSN and then MSN, I just wanna finish it all and be done. I wanna be an FNP. So I guess no matter what I would have student loans in the end.

Because basically I cant even go to school without fulltime childcare (no family/friends to sit) and we cant afford it otherwise. So Im gonna have to do that. I'll be able to pay it all back by the time Im 85! LOL

I have a child also and no money. This year I'm getting the max as a second year sophmore 7,500. Think some hospitals will pay off your student loans for you for signing with them

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7500! I was told the max was 2600. So I was planning on taking private loans from my bank for the rest...Are you at a university? or 2 year college?

I dunno if that makes a difference

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Specializes in ICU, CVICU.

I'm taking the max of subsidized loans from the government (4500/semester). I am praying it is going to cover it all (the cost of childcare is unreal!).

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I think sometimes I would like to ring my own neck on this subject. Then I just try to tell myself that maybe others who are in as deep as me just don't want to talk about it so they don't post haha!

I go bonkers when I read through the threads about debt. I go to a private university and I am getting my BSN. I have a zero EFC but I also have a 1 year old and her dad is in school also. I have a transfer scholarship of 5k per year, full pell and some other little awards but my tuition is 18k per year. Since it is a fast track program I am not able to work having my daughter and get anything else done. I take my monthly living expenses plus childcare and holy cow am I in deep. In the end I think I will be 40k in federal and roughly 80k+ in private. I am planning on my CRNA though so I am not so worried and my hubby is going to be a doctor - and one of these days I might hit the lotto hehehe.

For anyone who is in over their heads, you are not the only one and though it is wise to be frugal, your dreams can come true in all sorts of ways and when you want something bad enough you can find the resources. For me, my credit is great and the resources = loans and no worries. YOUR BIGGEST TOOL IN LIFE IS YOU AND YOUR BELIEF THAT YOU WILL BE SUCCESSFUL. IF YOU BELIEVE YOU HAVE MONEY YOU WILL HAVE MONEY!!!

Ahhh got that off my chest - nice little self help session this was!!! :lol2:

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Specializes in Med/Surg.

Well I'm doing a second degree program; it will run me around $18,000 (all loans, since I don't qualifty for grants) for the year and after that I will still have one semester left.

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7500! I was told the max was 2600. So I was planning on taking private loans from my bank for the rest...Are you at a university? or 2 year college?

I dunno if that makes a difference

If you're a freshman - or are classified as such - the max you can borrow is $2650 for your first year - insofar as I know.

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Specializes in SICU.

Get the max that you will need to be comfortable. This seems so strange to me. Most people don't think twice about getting car loans and spending $20-30,000 on something that will lose value the minute you get it, but worry about getting a load of the same amount for their education, which will only increase in worth.

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Specializes in Adolescent Psych, PICU.

I take out the max loan amount every year ($5500 and $5000). It would be WAY to stressful if I didn't; both me and my husband are full time students and we have 2 children.

I will owe a lot but like someone else said no one thinks much about taking out a $20,000-$50,000 loan on a car or a heck of a lot more for a house.....education is just as much, if not more so, of an investment in your future (especially in the medical field!).

All the big hospitals around here will pay $2,000 a year towards students loans and most offer a sign on bonuses as well.

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I think they just increased the freshman/sophmore max to over 3k for 2007. http://www.finaid.org/loans/studentloan.phtml is a great website...

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0

at emory

yay

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