Graduate School & Finances

[Trauma_drama14, BSN, MSN, RN, APRN, NP]

I have been in a pickle lately and wondering if anyone out there can give me some advice.

I recently have gotten married, my husband is also a RN and we live in southern Ohio. We both work at the same hospital on the same shift but different units. In the next two weeks, we both will be switching to ICU positions in the same hospital and on the same shift (SICU for me & CICU for him). I am going to be finished with my BSN this coming December and he just finished his BSN this spring. We both plan on going to grad school (ACNP for me & CRNA for him) since we don't have any kids and are still pretty young. At this time, we decided that one of us should complete school and the other support us as we go and vice versa (luckily I think I can still support us when in ACNP school, but he has to do school full-time and can't work). So, if everything works out right, we should have 4 years of schooling between the two of us.

So, the question I have is: Has anyone ever bought a house and managed to keep afloat while you and your spouse/partner/significant other do schooling and whatnot? I know we can afford a house at this time, but I'm just afraid of what it would be like in the future due to schooling. Also, I'm worried about his schooling situation because there is only 1 CRNA school in our area. This may be a weird question, but I'm really wanting some advice. Thank you in advance!

[FlyingScot, RN]

Although I'm sure there are people that have done it it is extremely hard to work full time and get all your ACNP clinical hours in. Every single person I know who has gone to grad school has had to cut back to part time. My BFF is currently in school and trying to work full time. It has nearly destroyed her and I'm not overstating it. I'm really worried about her as she has 8 months to go.

As far as buying a house now. Normally I feel a house is a good investment but I don't think it would be for you at this moment. A house is not just a mortgage payment and when things break it can get expensive really quickly. If I were you I'd put any extra money you can in the bank for a down payment on a house after you have both graduated.

Good luck to the both of you.

[Katie71275]

Personally, if it were me, I would spend the time while you both wait to go to NP school, to pay off any debt you have(credit cards, loans, etc), and not buy a house. If you need to downsize into something smaller and more affordable, do so, and save more money. If you don't have any debt, cars included, and put any extra money you have into savings. This will help ALOT when you have to reduce work hours or quit working altogether. I highly recommend Dave Ramsey. Also, another reason why not to buy a house, is that when you both are finished with your programs, you may not be able to find jobs in your current location and may have to relocate.