How long to pay off loan?

pagandeva2000, LPN · Apr 8, 2007

Just wondering if any LPN /LVN could give me an estimate on how long it will take to pay off a student loan on a LPN salary? I know it depends what area you live in etc...but did you find you were able to pay off your loan within two years of working?

I think we need a bit more information before being able to accurately answer this question. How much is the loan, what is the going salary for LPNs in your state, and do you have rent, mortgage, children, other bills, etc...

Off the fly, I would say that it may be difficult, because some jobs may not pay for 4-6 weeks (at least, this is what happened with new employees at my job), and when that happens, they tax you at a different rate. Also, there are back bills that may be a bit late because of that, and of course, things just happen. Please share a bit more information so that we can help you better. And, good luck in school!

Fiona59 · Apr 8, 2007

Hm, I'm married with an employed husband and managed to pay back $10K in 18 months working casual.

I made the required monthly payments and sent them lump sums to be applied to the principle whenever I had some extra cash (tax refunds, and every so often I would find I'd managed to accrue $700-800 in my payroll acount that was sitting there, so off it would go to the loans people). I paid off my bank loan first (the interest up here isn't tax deductible) and the govt loan second.