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Maxed out student loans??

Nurses   (20,143 Views | 31 Replies)
by tennyson tennyson (New) New

818 Profile Views; 14 Posts

You are reading page 2 of Maxed out student loans??. If you want to start from the beginning Go to First Page.

14 Posts; 818 Profile Views

It seems like the problem is only this recent difficulty in making payments, since I received 2 Signature loans on my own credit during the 2002-2003 & 2001-2002 schoolyears.

I would love to pay down my debt, but right now I can't even make ends meet. Which is part of the reason I accrued credit card debt over the past 6 months. The grant I was supposed to get from school won't be coming in until the end of the schoolyear. That's how efficient NYC community colleges are. And Stafford checks don't get disbursed until after the first month and a half of the semester! My credit was fine until this school year at a community college...

I really doubt that clearing up "recent" credit problems will really do that much for you, as they look at patterns over extended time periods....

School is going to be stressful enough without having to worry about creditors knocking on your door, plus if you default on student loans that sticks to your credit report for years and years.

Do yourself a favor and get your debt paid down before this next adventure. It will put less stress on you, and increase your chances of success.

JMHO,

BrandyBSN

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14 Posts; 818 Profile Views

It's really not the degrees I care about. All I am desperate for right now is the RN, partly because I have been unable to find a job that pays well enough. If I could get the ADN I would. But how to get the ADN without waiting 1-2 years to get into the program, then spend 2 more years completing it?

get a job. get ADN go to work as RN. You will make as much as a new ADN grad as you would as a new nurse with any other degree.

Then you will be able to work on your other degrees.

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820 Posts; 10,202 Profile Views

Definately dont put any part of college on credit cards, high rates will kill you.

Some universities have "hardship loans" to take out for short-term use, or workstudy... have you looked in to these options?

Also, if you have any equity in your home, you could considering taking out a line of credit against property... just make sure you can handle the payments. Normally HELOC (home equity lines of credit) have decent interest rates if only used short-term.

I wish you the best of luck. Lack of finances are one of the most stressful situations in life. Take that from a 2002-grad-an-broke RN :)

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2,719 Posts; 9,684 Profile Views

It's really not the degrees I care about. All I am desperate for right now is the RN, partly because I have been unable to find a job that pays well enough. If I could get the ADN I would. But how to get the ADN without waiting 1-2 years to get into the program, then spend 2 more years completing it?

I repeat get a job. Not just 20 hrs per week. There are actually easier ways to earn a living than RN. Use that 1-2 yr waite to get your finances under control.

You are already having trouble making ends meet and you usse that as a reason to get in even deeper???!!

Going further in debt is not going to help. It is NOT the schools fault that you have $$ problems and cannot manage your debt. The money yyou get for school is for school not for your other debts.

Also get some financial and consumer counseling. You are in deeper than you understand.

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213 Posts; 4,315 Profile Views

getting the rn is not going to solve your problems. in fact, if you are going into it for the money then you are doing it for the wrong reasons. get a book on frugal living and start paying down your debt. it can be done. the more debt you are in the harder it is to get out. don't dig your hole any deeper than it needs to be. good luck.

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332 Posts; 2,473 Profile Views

Is moving an option for you? Not all the way to California, but maybe somewhere closer by where the cost of living isn't as high as NYC and where you might have an easier time finding a job. Upstate NY (where I live) isn't *inexpensive*, but is a heck of a lot more affordable than NYC, and there are plenty of nursing programs around. You may have to go with an alternate route, so you won't be snowed under with debt at the end of it all, and it might take you longer, but that's what I would do (and in fact am doing; I'm in a very similar situation). Tough choices, I know!

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66 Posts; 1,660 Profile Views

If you are a NY resident than stonybrook and SUNY downstate all have accelerated BSN programs which would be cheaper than a private school. Also search the NYSNA (new york state nurses association) website and look for possible hospital Scholarships. I believe that national nursing Scholarship program has very strict requirements. I would call someone to find out exactly what the requirements are. I do not think that the associates degree is the way to go since the waiting lists are so long. Keep looking for a job, maybe move to brooklyn or queens (if you live in manhattan) and try to get a job in one of the hospitals there as a PCT or a tech. Or just look for a job in a non health care area, work for a year and then go back to school once you have staightened out some of your financial problems. But the idea to call a financial counselor is a good idea.

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Gennaver has 13 years experience as a MSN and specializes in Ortho, Med surg and L&D.

1,683 Posts; 8,924 Profile Views

Hi there,

Whew, you are going through a lot of anxious issues. Holey cow! Okay, well, I've been in somewhat similar situations more than once and they are tough. Sometimes you forget to look at the most simplist answer.

You worry that you can't get back to CA to get rehired at your old job.

Those are people who know you and care for you, contact them! ASAP I'm not kidding, don't be humble, be practical and when you are able return the favor. Contact an old coworker or even employee services and let them know you aren't doing well, that you want to work and pursue your degree but, are on your own and it is a slippery slope of a loosing situation.

Ask them to post a note to find a hosting roomate or even a local church with a social services agency which places renters with older homowners looking for extra rent money.

Let the coworkers know in a calm but unmistakable manner how desperate you are.

Have you let your school counselors know this? Why are you doing this solo, do you have any support network out there for you?

Good luck! It sounds like you've done so much work already it would be a shame to watch you let yourself suffer for lack of a good situation.

I feel for you and hope things work out.

By the way, I know that slippery slope of not having a network you can lean on and of doing things solo and the hard way. I found out how very, incredibly easy it is to end up homeless, carless and a potential victim of people who will indeed prey on your desperation and need.

Take action NOW don't wait to react. Then its too late.

Jen

It's really not the degrees I care about. All I am desperate for right now is the RN, partly because I have been unable to find a job that pays well enough. If I could get the ADN I would. But how to get the ADN without waiting 1-2 years to get into the program, then spend 2 more years completing it?

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14 Posts; 818 Profile Views

getting the rn is not going to solve your problems. in fact, if you are going into it for the money then you are doing it for the wrong reasons. get a book on frugal living and start paying down your debt. it can be done. the more debt you are in the harder it is to get out. don't dig your hole any deeper than it needs to be. good luck.

I had a feeling that was going to come up...no, I am not only going into nursing for the money. Two words: social services. Now anybody understand why my current income options are so low I can't afford to pay down my debt?

Never would I put tuition on credit cards...1st, my limits aren't nearly high enough, and 2nd, that's how I got into this mess in the first place...by using credit to pay schoolrelated expenses while waiting for my student aid to come in this year.

Thanks for the suggestion on calling my CA employer..it's been a couple years, but they'll remember me.

Is there anywhere nearby that's cheaper than NYC but doesn't require a car to get to & from work? Even here, the only job I could find (the one I have now) takes over an hour to commute via buses & trains. Each way. At midnight. For $10 an hour. With no benefits. Helping people.

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59 Posts; 1,508 Profile Views

Even here, the only job I could find (the one I have now) takes over an hour to commute via buses & trains. Each way. At midnight. For $10 an hour. With no benefits. Helping people.

What are your degrees in?

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14 Posts; 818 Profile Views

What are your degrees in?

Psychology

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59 Posts; 1,508 Profile Views

Psychology

That's what I thought--my degree is in Psychology as well, and I wasn't able to find a good paying job with it. I got a job right out of college doing data entry making $10 an hour. Do administrative assistants make better money there than $10 an hour? They do here, for the most part, and while it may not be a dream job, it would be something to help pay the bills and get you in the right spot to start school.

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