How much student loan debt did you have by the time you accomplished your 24-28 month CRNA program?
I know it might sound dumb to all of the CRNA's on this forum but I was just wondering and I couldnt think of anyone smarter to ask than you all.
Please take pity on a future CRNA so I can plan ahead with how much commitment (financially and mentally) it takes to accomplish what you have already done. =]
This was a question I had as well. I'm hoping to attend a 30 month program. Tuition will be around 50K, and i think living will cost me around 2.5k per month for my family.
I'll have some cash saved up, but has anyone looked at financing OTHER than student loans?
What about tapping IRA's, 401(k)'s, and home equity?
I haven't looked into how I will finance my school yet, but I would definately recommend leaving anything related to retirement and your home alone.
You can always get loans, but by tapping into your 401k and IRAs you will be taxed, and you miss out on those years of compound interest/growth (ie free money). If something out of the ordinary should happen to your family, something unexpected, where you would need more money besides what your student loans could give you, then I guess you can use your IRAs/401Ks etc as back up.
The gov't program is a great option but the thought of owing the gov't 4-5 yrs of my life makes me want to puke in my mouth. The bureaucracy that you have to deal with is hands down what I feel can be the worst thing to deal with in work.
Hmmmm, America is a big bureaucracy, in the military or not, and speaking from experience, I don't think one is worse than the other.
Armynrse, a CNS that I work with is AF and will see you over at BAMC in June. good luck to you.
Armynrse, a CNS that I work with is AF and will see you over at BAMC in June. good luck to you.
Thanks...we won't be going to BAMC. USAGPAN is a front-loaded program so we'll be at the AMEDD center and school for the first 12 months. I'm planning to do my clinical phase in Tacoma, WA(MAMC) or Honolulu, HI(TAMC).
Good luck to you as well. Maybe we will all meet at student bowl. I'll be easy to spot...will be wearing army dress uniform. (lol)
Get into school first before you look into the military programs. They will come to school and try to recruit you. (Atleast 3 times a semester plus e-mails) They have good benefits, but I would like to know I am in school before I sign anything with them. Just my 2 cents.
armyse where did you go to officer school at? a friend of mine is there now (ft. mcmuffin, al) lol
does the 4 to 5 year commitment start after you graduate crna school or when you join. officer school + 3 year school plus 4 year commitment =7 years.
I attended Officer Basic Course at the AMEDD Center and School at Fort Sam Houston, TX which is located in San Antonio. The didactic phase, phase I, of my anesthesia program is taught at the AMEDD Center and School.
The 4.5-year commitment begins upon completion of the 30-month program. I'm looking at 7 years after which I will be eligible for retirement since I've been in the Army for a long time.
The Officer training program for AMEDD(Army Medical Department) officers was 10 weeks when I attended. To my knowledge, it might be 11-12 weeks long for newly commissioned officers. So, for nurses joining the Army specifically to attend CRNA school, the total commitment would be 7 yrs 3 mos. Not a bad deal considering the fact that you would be a student for nearly 1/2 of that time.
Military CRNA training is widely recognized as excellent. Of course there is a high price to pay. Just as freedom isn't free, neither is the best education. I'm Army-trained myself, Viet Nam era, and I've often had this to say on the subject: I would not take a million dollars for all that I learned and all that I saw and experienced in the military; but, nor would I do it again for a million dollars.
Specializes in ER/ICU, CCRN, SRNA (class of 2010).
To get back to the origanal question. My program is 24 months and I expect to loan approx $20,000. My wife will be working and supporting our family of 4, and I will receive a stidend $1000-1200 month from an anesthesia group in exchange for 24 months work commitment.
I have seen people post they will be loaning something like 80-100k. I am not sure of the exact repayment figures but I think that would be in the ballpark of 800-1000 month. That depends on how you configure your repayments and the interest rates. You can go to www.salliemae.com and calculate repayments with their calculators.
deeks310
20 Posts
I haven't looked into how I will finance my school yet, but I would definately recommend leaving anything related to retirement and your home alone.
You can always get loans, but by tapping into your 401k and IRAs you will be taxed, and you miss out on those years of compound interest/growth (ie free money). If something out of the ordinary should happen to your family, something unexpected, where you would need more money besides what your student loans could give you, then I guess you can use your IRAs/401Ks etc as back up.