This is more of a "freak out" moment for me to say the least. I recently graduated with my BSN and will start to pay back my loans. As I gathered all my papers, I realized that for the 5 years I went to college, I bulit up over $100,000 in loans, which makes me sick to my stomach. I don't have a house, a boat, a car or anything to show for that debt but my BSN. Wow. To add to the dilemna, nursing wasn't my dream career, so aside from being miserable at my job (which I AM greatful to have one, dont get me wrong), constantly stressed, constantly crying...I have this wonderful debt to pay off at 23 years old. I wanted to go back to school (not sure for what, which is more frusterating), get out of hospital nursing (those jobs are hard to come by, ugh..), I wanted to retire one day but all these things seem impossible and I feel quite "stuck" where I am, which is a miserable feeling. Feeling pretty hopeless to say the least...Any words of wisdom or advice? I could use some at about this time.
Not true. I just recently consolidated my private loans, and the interest rate is now lower than the rate for my federal loans. What's true is that you can't consolidate your private loans with a federal consolidation loan -- you have to get a private consolidation loan.
Sorry, that's what I meant. I am sleep deprived and stressed over my own private loan. :)
OP-I feel terrible for you. I am reading some of the other posts. I guess people have not learned if you do not have something nice to say, do not say (write it). I think it is great you are seeking advice. I think you are taking responsibility for your loans and have received great advice. Student loans are soooo common. I wish you the best of luck.
At 100,000.00 I would be depressed and freaking out too! OMG, what is the point in getting an education if your just going to spend all your working hours for the next 10-20 years to pay it off? Sorry to hear your in this situation, hopefully you can figure something out.
I guess some people missed the "therapeutic response" part in nursing school.
OP, I graduated nursing school almost a year ago owing around $60,000 in loans for 2 degrees (as I am a second-degree student). That was after getting scholarships for both degrees, in addition to working three part-time jobs through my first degree to help offset the burden... I got no help from my parents, who are both disabled and/or were laid off during the recession multiple times, so not all of us who take on debt to fund our education are "irresponsible" as I believe one person was so quick to judge. I owe less than 48k now (after starting work earlier this year), and I've still contributed money to my retirement fund and my savings account.
I got a job in a place where I knew that my salary would cover the cost of my loan payments. I also don't live lavishly (although the VERY RARE treat after a rough week of work isn't out of the question); in fact, I try to stick to the same budget that I used while in school. I started putting money towards my loans as soon as I got my first pay check to pay down my interest and reduce my overall monthly payments (especially on my higher interest loans). I work overtime when I can, and I make it a point to put most of the money that I make on that towards loans.
Have you looked into HRSA's loan forgiveness program? Do you have Perkins loans (because, if so, you may be eligible for loan deferment/cancellation)?
Mr. Calabria and I share a one-bedroom apartment... and we searched long and hard for the deal that we got on our rent. We clip coupons for groceries (but make it a point to eat healthy). I'm young, and like going out, so I try to find cheaper alternatives to doing fun things on the weekends.
I guess some people missed the "therapeutic response" part in nursing school.
There were some sharp comments but I don't think therapeutic response means blindly supporting whatever someone proposes either. Sometimes it can be therapeutic, imo, to ask "what the h were you thinking?" I loved the rest of your post though and while I wouldn't be comfortable with that much debt for an undergraduate degree it sounds like you have a great plan and are following through. I also think you are probably are the exception rather than the rule. Kudos.
Ouch! I have debt but I would no way consider myself financially irresponsible.
It is one thing to have debt but to have a crippling amount of debt like op is inexcusable. If op didn't know what she wanted to do, she should have taken time out and or work to pay for her education. I am working and have been for the last two years and have taken advantage of community college and went to a state school...I have a great chance of graduating with less than 5000 in debt...not that difficult. And yes It will take me an extra year to graduate but I won't be chained to good ole Sally Mae.
There were some sharp comments but I don't think therapeutic response means blindly supporting whatever someone proposes either. Sometimes it can be therapeutic, imo, to ask "what the h were you thinking?"
Right, I do partially agree with you... but there's a way to say things without being hurtful, too, considering that there are better alternatives to the road that the OP took. The OP was clearly already distressed about her decision (and wanted our help). Being condescending and not offering help in responses about it when she was looking for possible solutions to her problem probably didn't help her, especially since she can't take back the fact that she took out those loans.
Right, I do partially agree with you... but there's a way to say things without being hurtful, too, considering that there are better alternatives to the road that the OP took. The OP was clearly already distressed about her decision (and wanted our help). Being condescending and not offering help in responses about it when she was looking for possible solutions to her problem probably didn't help her, especially since she can't take back the fact that she took out those loans.
And I did. I told her to move back in with her parents and pay as much as she can towards her loans...but I am not one to sugar coat and I don't have pity for those who put themselves in really bad situations like op...
Irresponsible behavior likethat has screwed this country over. Time to man up, learn from your mistakes and not pass those mistakes off to the younger generation...
And I did. I told her to move back in with her parents and pay as much as she can towards her loans...but I am not one to sugar coat and I don't have pity for those who put themselves in really bad situations like op...
Irresponsible behavior likethat has screwed this country over. Time to man up, learn from your mistakes and not pass those mistakes off to the younger generation...
Good on you. My follow-up post wasn't directed solely at you (although I did quote you in my first), it was a general statement regarding some of the posts on this thread in general. Your advice for her to move in with her parents is pretty good. But I think that there's a difference between not sugarcoating and counter-productivity, though. While I still don't agree with the rest of the wording in your post (we'll agree to disagree, I guess ), there were others on this thread quick to jump on the OP and not offer suggestions.
pretty much in your same shoes... but you have a job lol Count your blessings for that! I don't have $100,000 of student loan debts but I have about 30,000 and I feel like I have nothing to show for it. It really is utterly depressing... makes me sick... praying that things turn in my favor soon because boy oh boy lol But I guess in the end it is all worth it... (maybe?) who knows :uhoh21:
), there were others on this thread quick to jump on the OP and not offer suggestions.
NickiLaughs, ADN, BSN, RN
2,387 Posts
Sorry, that's what I meant. I am sleep deprived and stressed over my own private loan. :)