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Discussion

Lpn that will be in 40,000 in debt?

Hi. I'm an lpn student. I have 30,000 in debt with student loans. I have a little more debt from fasa due to accidently taking extra loans. How much will my payments be every month after I become an lpn? Also, can I put off my student loans until I become an RN even if I went to a different school to be an RN? I have no real hope that my employer will pay for my RN education. I've seen that in a hospital and a nursing home only give $1000 a semester which is not much. Can anyone help me?

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    • Moderator

    I am assuming these are Federal loans, is that correct? You should contact your loan servicer to ask about monthly payments. You can potentially defer payments if you continue on for an ADN or BSN (even from a different school) and you meet attendance requirements. I am a little confused as to how you "accidentally" took out extra loans. But anyway, be careful about incurring more debt! I would recommend doing an ADN program at a community college to keep your debt down.

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    • Author

    I am planning to go to a community college. I don't know if I'll get accepted since you need a 3.0 and I have a 2.88. I kept taking the maximum amount of loans from fasa. Sometimes my dad made me do so but now I only take out what I need. Also, if my payments are $400 a month, can I pay less like $250 a month while I'm in RN school part time?

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    Wow, that's a little more than my BSN education. I went to a private college and was eligible for grants and loans. Seriously, 30,000 for an LPN, that's just insane.

    Sent from my iPhone using allnurses

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    • Author

    It's not meant to cost that much. I took pre-radiology classes before and changed majors and failed 2 RN classes which is why I have all this debt :(

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    Oh dear, I truly sympathize with you. But like pixie.RN said, you can ask for a loan deferment while in nursing school. Just keep up with your attendance and grades. You will do just fine.

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    Filling out a FAFSA will get u a pell grant depending on your income. That grant is not required to be paid back. A subsidized loan and an Un-subsidized loan is required to be paid back; usually starting 6months after you graduate or stop attending.

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    • Author

    I'm not sure if defering is a good option. I mean the interest that adds up will be killer. Also, do you think I can pay it down every other month as an lpn?

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    I'm not sure if defering is a good option. I mean the interest that adds up will be killer. Also, do you think I can pay it down every other month as an lpn?

    If you are in school and defer it, you can still continue to make payments as you wish to keep the interest down, but since it is deferred you are not required to make payments until you are not in school anymore.

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    • Moderator
    I'm not sure if defering is a good option. I mean the interest that adds up will be killer. Also, do you think I can pay it down every other month as an lpn?

    That depends on the rest of your finances and if you get hired as an LPN at a decent salary - things we can't possibly know as strangers on the internet.

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    The interest will not be killer. The interest will be something to think about but it won't be awful. I have the same amount out in loans. Deference is a good option but don't take out any more loans, pay as you go.

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    Wow!!! Try paying off the loan that has the highest interest rate first. That's a lot of money! Wish you luck

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