How much do you owe in student loans?

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mmcnabb3

46 Posts

I got my first degree in flight school, so im a helicopter pilot, with a bachelors in aviation, but couldnt find a job so now im getting my accelerated BSN-MSN so for the first degree im in the hole 130k and this second degree will be about 70...

200,000 of school debt. If i could make it into a house id be happy to pay this mortgage.

When people talk about being in debt 30k or what not i just laugh because thats only one of my many loans i have. Out of state tuition, flight school and now my masters is horribly disgusting and depressing but theres not much i can do about it now except pay my minimums and hope for the 20 year forgiveness....on the plus side i have the most amazing credit score youve ever seen haha.

NP Sam

476 Posts

Specializes in Peds OR as RN, Peds ENT as NP.

About 35k total but I've been paying for a year. Also 14k is my loans and the other is loans my dad took out for me that I promised he would never have to pay. I pay $450/month total every month.

Caffeine_IV

1,198 Posts

Specializes in LTC, med/surg, hospice.

I owe nothing on my Associate degree. I graduated in 2008 and had it paid off by early 2009. It was less than 5k. This is why I'm hesitant to go back for a BSN.

marcpamjoce1

16 Posts

We paid off about 80k in 5 years, a bs and bsn for me, a ba for him. We used the snowball method a previous poster mentioned, lived WELL below our means, no going out to eat, no buying anything unless we could pay cash after the month was paid for. Unfortunately too many people get more in loans then what the job will pay and IMHO, that's just not a good idea. We follow Dave Ramsey, have no debt, so that helps as well. Main suggestion is to live well below yor means and pay as much as you can, and don't defer because then the interest will add up quickly.

And for goodness sake, don't depend on government to help you pay for them, just don't take out more then you can afford!!!!

Best_Name_Ever

95 Posts

$0. I graduate in December with my BSN from a 4 year university. Entered the program straight from high school. I am so thankful that I have been able to pay myself through it.

Morganalefey

125 Posts

Specializes in ccu.

$0

I went part-time through pre-req's and paid out of pocket for anything my pell grant didn't cover and the school didn't give me a scholarship for. I found out my 1st semester of nursing classes that my dad having a purple heart got me another grant.

After that, I got $$ back each semester b/w what I got from my pell, and what the government pays b/c I'm a child of a vet w/a purple heart.

$40K...BUT I didn't qualify for any aid except for Federal Student Loans - and I took out approximately $20K for living expenses - I have a family and couldn't do FT work and FT school as well as raise twins...so I took the easy way out...

As for scholarships - because my husband makes more than minimum wage I got nuttin!

the stupid part is that my first bachelors degree was paid for in full by my parents (20 years ago)- but I couldn't qualify for anything else because I have a bachelors already - that was in no way, shape or form financed by the government...and I only have an ADN - have to find a way to pay for my BSN - I have 30 credits to go!

Specializes in LTC/SNF.
I borrowed for my first Bachelor's. Still owe about $13k since I've been deferring it since going back to school for nursing because everything to do with nursing (LVN, ADN, and soon my RN to BSN) I am paying completely out of pocket. So I'll owe nothing for my entire nursing education, but will be repaying the $13k I borrowed for the "college experience" :p

This is me. Went to the state university right out of HS because that's what everyone did. Took random classes that interested me that didn't really count towards anything, didn't know what direction I wanted to take in life. Racked up 20k in student loan debt for 2.5 years of the "college experience", which wasn't that great by the way. Right around the time that I finally figured out that I wanted to be a nurse, my husband was transferred to the middle of nowhere. Luckily for me, their community college had a great nursing program and dirt cheap tuition. With scholarships and grants, I will get my 6-semester ADN for free. Still have to pay that 20k off though :( Wish I could go back in time and kick myself....:banghead:

42pines

1 Article; 369 Posts

Specializes in Occupational Health; Adult ICU.

About 32k left. Without it I'd never had been able to graduate.

A bit sad though, my first degree was paid for by working summers. That simply is not possible anymore. The cost for education is way, way out of line--the new economic bubble "student debt."

My monthly payment is only $107/month, but that will change in a bit more than a year to double that. I really don't mind--as long as I still have a job. I did call SallieMae since I'm between jobs at the moment (unemployed) and they assure me that if the payment gets too burdensome I can change it to one that is income sensitive.

Well, I hope to keep working for another 7 or more years so we'll see...

emcadams

113 Posts

I can't believe, reading all these answers, that the Gov't seems to think the average student loan debt is $24k (or thereabouts). Do they not count all the private loans students take out because their dream school (or for-profit private school) is not covered by federal loans???

dt70

464 Posts

It pays to pick the right major after HS.

If you wait till 40 there's a bit of sticker shock.

Tuition History

What was tuition at Duke University for the past five, ten, fifteen or twenty years? Looking at historical tuition increase rates may provide an indication as to expected increases in the future. Historical tuition and fees for all available data years back to 1987 follows.

2010 - $38,741 Tuition and Fees. 3.9% Annual Increase

2009 - $37,295 Tuition and Fees. 5% Annual Increase

2008 - $35,512 Tuition and Fees. 4.6% Annual Increase

2007 - $33,963 Tuition and Fees. 4.8% Annual Increase

2006 - $32,409 Tuition and Fees. 5.5% Annual Increase

2005 - $30,720 Tuition and Fees. 4.7% Annual Increase

2004 - $29,345 Tuition and Fees. 5.4% Annual Increase

2003 - $27,844 Tuition and Fees. 4% Annual Increase

2002 - $26,768 Tuition and Fees. 4.4% Annual Increase

2001 - $25,630 Tuition and Fees. 3.6% Annual Increase

2000 - $24,751 Tuition and Fees. 3.7% Annual Increase

1999 - $23,864 Tuition and Fees. 7.6% Annual Increase

1998 - $22,173 Tuition and Fees. 5.5% Annual Increase

1997 - $21,024 Tuition and Fees. 5.1% Annual Increase

1996 - $19,996 Tuition and Fees. 4.8% Annual Increase

1995 - $19,078 Tuition and Fees. 11.2% Annual Increase

1994 - $17,163 Tuition and Fees. 5.7% Annual Increase

1993 - $16,236 Tuition and Fees. 7.5% Annual Increase

1992 - $15,102 Tuition and Fees. 6.8% Annual Increase

1991 - $14,147 Tuition and Fees. 7.6% Annual Increase

1990 - $13,148 Tuition and Fees. 20.4% Annual Increase

1989 - $10,918 Tuition and Fees. 9.2% Annual Increase

1988 - $10,000 Tuition and Fees. 8.9% Annual Increase

1987 - $9,180 Tuition and Fees.

Violach

244 Posts

Paying out of pocket. No loans at the moment. In the 3rd year of a BSN program. Will probably need to take out a Federal Loan for about 10-15K before I'm finished.

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