I have 60 grand of student loan when I finished BSN

Published

I had my ADN in 2014, then I went back to school two months later for BSN, now I just graduated from BSN, and the student loan I owe is little over 60 grand..Oh load. I had to pay over 600 a month for 10 payment. That seems a lot to me. Any suggestions? any programs that can reduce or forgive my loan? Thank you very much!

it's America, everybody is in debt for something. Good luck!

That's what I have heard :p

Up Vote Up Vote ×
Also, he said our 12th grade math was like their 8th grade math.

I know that if you are not in a honored math class in USA, the 12th grade math is like Asia's 8 grade math

Up Vote Up Vote ×
Specializes in LTC, Medical, Rehab, Psych.

I'm so sorry. What a scam. Back in the 90s when I went to college it cost $991 a semester for full time credits at my state university. Today's costs are atrocious with all of that inflation factored in! I am very in favor of creating more labor training programs in the trades so that high school students have options. I'm sorry but not everyone needs and is even a good candidate for earning a college degree. Very overrated. And the nursing push to BSN is quite the scam, seeing that the pay does not increase (a mere $1/hr could be had by changing jobs and asking for more money) and that floor nursing is learn-on-the-job training. Not everyone can be a manager or become an ARNP.

I have a son who began apprenticing as an electrician at 16 and now at 26 has his own contracting company and has FAR more earning potential than his lowly nurse mother. There are options. Encourage youth to really think through other options before they sign up for the "needed" college degree (and advanced degrees!), paying off debt for years. That's the real answer to all of this talk about "loan forgiveness." Higher education is NOT A RIGHT.

Up Vote Up Vote ×
Specializes in ORTHO, PCU, ED.

Havent read all the posts...but you mean $6000 a month for 10 months. Shewee. That's awful for BSN.

Up Vote Up Vote ×
Specializes in Vascular Access.

Just my experience. I used the GI Bill to pay for my associates. Once I started working I utilized my employers tuition reimbursement program for my BSN. And now the same for my MSN. Its been a very long process but it will help in the long run with less debt. I have taken out a few loans to help make it. I'm saddened that so many people have gone this far in debt to acquire the needed education to care for our people.

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

Try to get into travel nursing. Lots of groups on Facebook. They pay well.

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

If anyone gets real desperate and has decent equity in your owned home, you can put your loan debt into a HELOC with a little less interest, depending on the prime rate of course. The payment is much lower. Just make sure you can pay off early with no penalties though to avoid some of the interest. We almost did this just to put a new roof on our home...we were going to add my husband's student loans and the payment was 170 mo vs. 300 he was paying just on the loans themselves.

Up Vote Up Vote ×
Specializes in VA, Ortho, Med/Surg.
Hello fellow Nurses,

I am looking for a little advise. I have considered going back to school to upgrade my ADN to a BSN but not sure if it is worth it at this time. I became an RN in 2008 and worked med-surg and on a pediatric neuro unit for almost 2 years but when I had my twins -twin boys that are turning 7 years old, I moved back to the city where my family was and started case management because there were no jobs at the time in the hospital. So I have been doing case management for about 6 years. Currently, I am in Utilization Review at an insurance company and the pay is good but it is 8-4:30 pm. Honestly by the time I get off work, get the twins from daycare and get home and attempt to make a decent meal I am VERY tired!!! I am a single parent. It seems like the market goes back and forth with hiring ADN's and not wanting to hire them and pushing ADN's to upgrade to BSN. I would like to make myself more marketable as eventually I would like to move out of state and not sure if I will have a problem because I only have an ADN. Is there a way to just take one class toward the BSN so I can at least be doing something toward that end goal? Or is it even worth it at all?

Most of the Tampa Hospitals now require a 4 yr. degree or an agreement to get it if hired.

Up Vote Up Vote ×

There are many different programs that are available for loan forgiveness however not very easy to get.

Under the studentaid.gov website you can apply for income based repayment. After 120 qualifying payments you can apply for Public Service Loan Forgiveness (PSLF) also you can request they lower your monthly loan payment at any time to an amount you can afford. If you're like many other people though it's the interest on those loans that really get you.

There is a government program too that of you work in rual health care, public health or a critical needs access hospital they will forgive 60 to 85% of your debt.

Lastly there is loan consolidation which sadly most nurses have to do. You can choose a fixed rate or variable rate which is about 2% interest right now. I recommend that unless you live or work in critical need areas and can qualify for that program.

Up Vote Up Vote ×

Yes But the government programs are hard to get in. I applied one year, completed all the paperwork and didn't get in. Also, you can't work as a traveler or staffing agency if applying for those. Lowering payments helps you keep your head above water, but the interest kills you so you pay longer. It's a crap shoot!

Up Vote Up Vote ×
Specializes in Specializes in L/D, newborn, GYN, LTC, Dialysis.

I guess a lot depends on where you are in life. Me, I am 20 years in, closing on retirement and would NEVER EVER consider 60K in loans at this point. I have a great job, decent money and live well. If I were 20 years younger and had aspirations of upper management, I might choose differently.

No one can decide what is best for you, but YOU. But choose carefully cause it's a big saddle on your back, no matter who you are.

Up Vote Up Vote ×
And $600.00 x 10months = 6000

OP means TEN YEARS.

Up Vote Up Vote ×
+ Join the Discussion