How much are you borrowing?

RedCell · Dec 16, 2008

I think that will depend on what your program of study is. For anesthesia school I took out $80,000. Half for tuition and half to live on. Sallie mae is my mistress. I just graduated so hopefully I can pay that PIMP back in a year or two.

Ready2hittheHospital · Dec 16, 2008

lmao... RedCell...

I started out at a 4 year university, while there I racked up about 15,000, no that I'm at a Community College, I've added another 5,000-6,000 on to that... I work part-time and still feel that I'm barely making it...

racing-mom4, BSN, RN · Dec 16, 2008

borrow what you need and not a penny more---when you ask questions so vague you will get very vague answers---I did not have to borrow much at all because the hosp I work for was generous enough to pay a hefty sum of my tuition. I also was persistant in finding scholarships.

So if your question is really asking "how much do YOU need to borrow" well only you will know that.

Faeriewand, ASN, RN · Dec 17, 2008

I went thru LVN for 18 months and racked up $12,000 on credit cards to pay for things. School only cost $2,500 including books but there were living expenses and I was only working as a CNA per diem.

loveanesthesia · Dec 19, 2008

If you are an RN looking to start anesthesia school, you can usually get almost as many hours in ICU as you want. A lot of people are very anxious to get into a program, but you can make yourself a stronger CRNA by working every possible hour of OT in the ICU for 3-4 years, and make yourself financially stronger by banking the extra money for school.

DrugReptoNurse · Dec 20, 2008

I wont be working during anesthesia school but I won't be borrowing any money either. Before this nursing journey began I saved every penny that I could. Paid off my mortgage, my car and all debt that I had. In the process I saved up over $100k. This will more than take care of the 28 months of schooling. It can be done in you plan in advance. If and when I sell my house, that will be another $250k or so in liquid funds.

407RN · Dec 20, 2008

RedCell,

How did you get that much? I am under the impression that they will fund only the COA. Did you include your rent or house payments into the equation? I had been planning on the figures you quoted, but have been searching for new sources since November. This is my biggest concern if I get into school. Like I said, I had it figured out until the economy went to crap and my planned lender stop taking new applications.

RedCell · Dec 21, 2008

RedCell,
How did you get that much? I am under the impression that they will fund only the COA. Did you include your rent or house payments into the equation? I had been planning on the figures you quoted, but have been searching for new sources since November. This is my biggest concern if I get into school. Like I said, I had it figured out until the economy went to crap and my planned lender stop taking new applications.

Most people do not take this money out all at once. You do it in increments. Look to Stafford (government loan) first. You will get whatever amount your school says is is necessary for tuition. Usually this is around $20,000 per year divided over 3 semesters. After this you apply to FAFSA and then look into doing a graduate plus loan (private loan) or something to that effect. They also will give you around $20,000 per year. In truth, I actually took out 40 in stafford and 40 from sallie. It is a real pain in the ass and you have to hassle the loan dudes at certain times of the year to get results. It is worth it though.

Jamaica3 · Dec 21, 2008

RedCell,

I am also looking forward to hearing your reply.

407RN · Dec 22, 2008

Thanks for the insight RedCell. I have found that same information. I was planning on 40K each year to live on after Federal Loans. That is what one lender told me was available to grad students. That was before November though. I can't find one lender right now that is sending money directly to the student. Guess my budget will be even tighter than I thought. :bluecry1: