Has anyone gone through school WITHOUT loans?

Published

It seems to me that one should be able to save up about 35,000 tuition, plus 25,000 for a simple student life of two years. But has anyone done that - or tried to? I even know of schools where tuition is only 25,000, so that's 10 less, and really two years living expenses can be greatly brought down as well... ??

Up Vote Up Vote ×

Someone I worked with did it. She had some family land that she sold and she lived off the proceeds of that. Not quite the same as saving up the money, but great to complete school not owing anything!

Up Vote Up Vote ×
Specializes in Cardiac Tele, MICU RN.
It seems to me that one should be able to save up about 35,000 tuition, plus 25,000 for a simple student life of two years. But has anyone done that - or tried to? I even know of schools where tuition is only 25,000, so that's 10 less, and really two years living expenses can be greatly brought down as well... ??

I don't know what your life is like, but some people are single parents, have rent, or car loans, you know like bills may be. How in the world can you possibly save up 35,000 for tuition, plus 25,000 for just whatever? Please tell me.. I would like to make this work for me.

Up Vote Up Vote ×
Specializes in ER/ICU/PACU/ Nurse Anesthetist.
It seems to me that one should be able to save up about 35,000 tuition, plus 25,000 for a simple student life of two years. But has anyone done that - or tried to? I even know of schools where tuition is only 25,000, so that's 10 less, and really two years living expenses can be greatly brought down as well... ??

Are you referring to CRNA school or nursing school?

Up Vote Up Vote ×

CRNA School. I am really going to try to do it. I pay rent, support a family of four and the whole deal. But I think I can save the tuition, make an arrangement with my landlord, and manage the rest with some help but no loans with interest... I refuse to take loans except minor personal loans. It would be really encouraging to know that someone did it and to get some tips.

Up Vote Up Vote ×
Specializes in MICU mainly, Now on to anesthesia school.

Yes, it is possible to do it without loans. But the delay in admission required to save the money would be less equitable than just paying the interest on the loans. The only way I could feasibly see doing this is to have a spouse whose income can support your family while all of your nursing salary is placed in savings. But when you can triple your salary in around three years, the math says earlier enlarged income is more beneficial. If you could maintain a Spartan student lifestyle for two years after graduation, most of that debt could be erased. This does not even consider the possibility of employer tuition reimbursement. But if you are hell bent on paying cash, more power to you.

Up Vote Up Vote ×
Specializes in ICU-CVICU.

There are probably many people that could go to school without loans, myself and my friend included. But I'd rather leave the money in savings...(now's a good time to invest BTW) and use loans for school.

The other poster is also correct...doesn't make fiscal sense to wait if you can get in now.

Speak to a financial advisor...soon!

May

Up Vote Up Vote ×
Specializes in PER,PICU,Flight,SRNA 2008.

My husband and I have been working on our financial plan for about two years now, about the time I started to work hard on preparing my application. Although, I can't say that we payed for CRNA school in cash. I can say that due to the preparation, we had minimal loans to take out.

I did the ultimate no-no according to most, by taking out my entire 401k. Now let me defend myself by saying that it had lost over 8% in the last 18 mos and since I wouldn't be working for two years.....there would be no growth either from me or my employer, so financially it was a good move for me.

Just my:twocents:. We purchased Dave Ramsey's Financial Peace University two years ago and when I start school (in 3 days) we will be completely debt free with exception of school loans. It is a great feeling and when you have only a mortgage/rent payment and utilities to worry about, you can really sock away the money fast. Now, to each their own......but it sure worked well for us! Good luck.

Up Vote Up Vote ×
Specializes in MICU.

Just my:twocents:. We purchased Dave Ramsey's Financial Peace University two years ago and when I start school (in 3 days) we will be completely debt free with exception of school loans. It is a great feeling and when you have only a mortgage/rent payment and utilities to worry about, you can really sock away the money fast. Now, to each their own......but it sure worked well for us! Good luck.

I too used this program and have paid off 6 figures in debt over the last 4 years. We are debt free. We WILL have 60K saved to pay for school IN CASH.

yes it can be done

HOW? Discipline, planning, and spending with a purpose. ... and work some OT!

LifeLONGstudent

Up Vote Up Vote ×

Pedsccrn took the words right out of my mouth. I'm going to pay for my MSN in cash by way of Dave Ramsey. I'm still an undergraduate right now, but by the time I finish my BSN, I'll be debt free and putting LOTS of money away for school in advanced practice, while working and getting experience.

Up Vote Up Vote ×

That's what I'm talking about! Living a Spartan lifestyle for a few years BEFORE AP school seems much better to me than living it after. And there is NO reason to delay school either. There are many steps after entering the nursing field before qualifying for Anesthesia as we all know.

Up Vote Up Vote ×
Specializes in Critical Care, Emergency.

I'm attending CRNA school and I will never see a tuition bill, it's all taken care of by my employer...the United States Army, hooah! I get paid on the 1st and 15th of every month...that's one less stressor to deal with while getting pounded academically.

Army, SRNA

Up Vote Up Vote ×
+ Join the Discussion