Huge Nursing School Debt!

Nurses General Nursing

Published

So, I am planning on enrolling in nursing school this Fall and the program is perfect for me and it is at a well-respected school. There's only one problem: I am an out of state student so my tuition will be three times what it would be for an in-state person. I figured out the costs and it is around $75,000 for the entire program (two full years and two summers). I know I will probably have to take out more than that amount in loans because i will need a way to make ends meet even with a part time job which I plan to have.

I just want to know if anyone else is going through a similar situation? What do you think I should do? I even considered waiting a year and living in the state where the school is so i could have resident status and just enroll the next year. I really want to get my career going though, so this is a tough decision. Thanks!

Up Vote Up Vote ×
Specializes in Emergency, Critical Care, Pre-Hospital,.

Short Girl~

You may want to think this through. The VERY expensive NS may be excessive. My program was the same length of time and about 1/3 the cost. You'll find that 2 yr degrees are about the same as long as the school has a good program and good NCLEX pass rates. Please look at the state BoN to check out NCLEX pass rates for that school.

Good Luck and Mahalo!

jb

Up Vote Up Vote ×

Hi, I think you should wait a year and move to the state to which you are applying. Seriously, that's a lot of debt and you will be thankful once you graduate that you won't owe a fraction of that. I owe a little less than that and just graduated and now have a job with income standard to the profession, however with the monthly student loan debt I am square one financially for the next 10+ years. You will be swimming in debt. So please wait the year! Meanwhile, you can research hardcore what area you'd like to go into, learn a foreign language that will help you in the area, or do something else constructive, but please don't let your motivation wane, but have patience.

Up Vote Up Vote ×
Specializes in Med Surg, Ortho.

Good grief.....that's expensive! I got my education at a community college for less than $10K. There is NO WAY I would spend that much. Is this a fancy

University you're wanting to go? I would seriously re-think this decisision and search out other options if I were you. Good luck.

Up Vote Up Vote ×
Specializes in Med/Surg.

Think long and hard about that......and also think how that hefty student loan payment will affect you every month. I am in a state college BSN program and pay just over $5,000 per year. With the $75K debt (not including any extra you may need to take out for living expenses) you're probably looking at $850/month. Be careful, and good luck!!

Up Vote Up Vote ×
Specializes in Telemetry.

I agree with all the other responders. I would like to tell you that going to a good nursing school makes all the difference in the world, but it does not. I went to a very well respected nursing program and I still don't know what I'm doing as a new grad. If I could do it all over again I would have gone and gotten my associates degree and been far less in debt than I am now. I'm 50k in the hole for a BSN that took me 2 years to get.

Up Vote Up Vote ×
Specializes in Acute Care Psych, DNP Student.

RUN, do not walk, RUN from 75k in student loans for a nursing degree.

Up Vote Up Vote ×
Specializes in L&D, PACU.

That would be taking on a debt that is truly staggering, and could have very negative effects on your life for years.

I attended a state school, worked part time, and at the end of my four year BSN had a student debt of a little over $15,000.00.

75,000 sounds incredibly excessive.

Up Vote Up Vote ×

Go to another school or just wait a year. If you wait the year, you can start putting money away for bills or tuition. So you'll be ahead of the game financially when the time comes to enroll.

Up Vote Up Vote ×

Wait the year. Nurse do not make that much money you will end up having to work lots of overtime to pay it off. I have student loans from a previous bachelor & had to take money out for a nursing school. I am not looking forward to paying it back--if it can be avoided try to wait.

Up Vote Up Vote ×

If you move in state and wait a year to establish residency maybe you can get a job as a nursing assistant, unit secretary, monitor tech or some other first-hand patient-care based job that will help you with your future nursing career.

I agree with others that it's not advisable to sink that much loan money into getting a nursing degree.

Up Vote Up Vote ×

If you got a $75,000 Stafford Student loan the interest rate is fixed at 6.8% your monthy payments would be $863 for TEN YEARS. With interest you would be paying a total of $103,572.

Is it worth that?

Up Vote Up Vote ×
+ Add a Comment