Loan forgiveness options? Help!

kaimkaim · Apr 16, 2015

Thanks for the kind words! I'm not sure that it's necessarily that these trolls arent from arkansas, I think they are just rude haha. They obviously don't have out of control loan payments! My husband and I are hardworking and both work overtime regularly. I'm not sure what is giving people the impression that I am "not helping myself" or that I don't work. I have already applied and spoken with someone with the public service loan forgiveness, and my payments each month for the 10 year (or 120 payment) period are still crazy! It will save me a ton of money in the long run though, I am just looking for a way to get my monthly payment down some. Thanks again.

kaimkaim · Apr 16, 2015

What a refreshingly friendly comment! Thanks so much, we are excited for the move and new nursing opportunities. I will look into the Bellvue area, I'm sure it wouldn't be too expensive to live a few minutes outside of town and commute for cheaper housing. â˜ºï¸

joanna73, BSN, RN · Apr 17, 2015

Re: signing bonuses, those unfortunately disappeared with the crash of 2008, unlikely to return. It's not realistic to expect that any employer will pay a portion of the loans in this climate. They just don't need to.

This will be a hard lesson for many recent grads who accepted enormous loans. Bottom line is do not borrow what you cannot comfortably afford to pay off.

SmilingBluEyes · Apr 17, 2015

Excuse me OP, I know you are new to this board, but calling people "trolls" is against TOS. (terms of service, which you agreed to abide when you signed up here). Not one poster here is a "troll" even as it's defined in cyberspace. I see a lot of helpful posts, no doubt some more so than others.

Good luck------ and maybe next time you post a question on a public forum, you will understand that a variety of answers will be posted, and you can always discard what you don't like or cannot use.

But you don't get to call other members "trolls" on this forum simply because you don't like the advice you asked for in the first place.

Best wishes.

SmilingBluEyes · Apr 17, 2015

And the sign-on bonus and any job-sponsored loan forgiveness programs are going the way of the dinosaur. The ONLY places offering these are offering them for a reason------------they can't retain staff because either the pay or working conditions are unbearable. Caveat emptor when looking to accept a job offer.

I would like to offer positive and friendly advice: Look up Dave Ramsey and try his debt reduction programs. He is on the radio all over the country and you can catch his shows online. He is the real deal and you may find a lot of help, reading his books or listening to him talk. He is amazing.

Dave Ramsey Homepage - daveramsey.com

Graduatenurse14 · Apr 17, 2015

I don't think anyone is being rude, but they aren't sugarcoating anything either. Realistically, very few places are offering sign-on bonuses, generous tuition reimbursements or student loan forgiveness. Those days are long gone.
Have you looked up Dave Ramsey? He is pretty awesome and can help you with his "Total Money Makeover" guide.

Dave Ramsey ROCKS!!! "Live like no one else so you can live like no one else" is pure gold when trying to get out of debt.

He has books, a radio show, seminars all over the county, Endorsed Local Providers (ELP's) also all over the country in Insurance, Financial Planning, etc. whom he has trained and of course, a website.

I did Financial Peace University years ago and though it sounds difficult at first, once you get started and see the debt go away little by little, it is so liberating.

Listening to his radio show and hearing the huge amounts people have paid off and be able to yell, " We're/I'm debt free!!!!!" gets me every, single time! It's inspires me and reminds me that it is possible!!

When we borrow money- I have a BS in Education from the early 90's and now an ADN and took out loans for both so I really get it- we truly are slaves to the lender.

Proverbs 22:7 "The rich rule over the poor, and the borrower is slave of the lender." (NRSV)

ParkerBC,MSN,RN, PhD, RN · Apr 17, 2015

Personally, I don't like the notion that the gov't will somehow bail out or forgive loans, because that comes from taxpayer's pockets. I paid for both of my degrees; why should I have to pay for other's poor choices?

Of course you did- in the last 80's early 90's when tuition was about 525% less than what is it today. Stop trying to compare then to now- it's different.

Not_A_Hat_Person, RN · Apr 17, 2015

Suze Orman and Michelle Singletary offer great financial advice without God talk.

allnurses Guide · Apr 17, 2015

Of course you did- in the last 80's early 90's when tuition was about 525% less than what is it today. Stop trying to compare then to now- it's different.

When you try to compare the 80's to today it's like comparing apples to oranges. Yes things were much cheaper then compared to know but still very expensive for the financial climate of the times. I have 3 degrees and paid for all of them out of pocket. I was not nor am I now wealthy. I worked three minmum wage jobs when earning my first degree every day that I didn't have school, every weekend and every holiday for 5 years. Same for my ADN. I am about ready to pay cash for my BSN ($27,000.00) My husband and I are very frugal $120.00 a week for the family's groceries, no unnecessary spending, Older cars which we are driving until the wheels fall off we both work and paid off our home last year. We don't finance anything. We have credit cards but we pay off the balances every month. BTW we eat very well on the budget - much healthier than before when we spent more.

We are teaching our son responsibility by living this way - We both have decent incomes but we save almost 40% towards our son's education and retirement which we hope to do in 10 years.

Hppy

allnurses Guide · Apr 17, 2015

Well, I got all three of my degrees in the last 10 years and I too oppose bailing other people out of their bad decisions on my buck. So...If that makes me a troll, so be it.

joanna73, BSN, RN · Apr 18, 2015

People can argue that degrees and cost of living was cheaper. However, when you borrow money the expectation is that the funds will be paid eventually.

allnurses Guide · Apr 18, 2015

While I am generally opposed to people trying to get out of their obligations - I did find this fact sheet with regard to federal student loans which are different than student loans from private banks. Just beware and do your due diligence - Like my daddy used to say - It pays to look deep into a horses mouth and check both his testicles before buying him"

Hppy