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Money support while in CRNA program

Hey everyone!

I've been throwing around the idea of CRNA school for a couple months now. Been in ICU for 4 years now, currently in a critical goat pool. But my biggest concern about doing CRNA is how to pay my month to month finances since (as I’ve been told) you can’t work while in this type of program. Im single, no kids, but I do own a home and have the associated finances that come along with that.

How do you pay for your costs while in school? Just take out a bunch of loans? I’d like to consider CRNA but don’t want to risk any type of loss (especially my house) while trying to complete the program. Open to all ideas and advice.

Thanks!

brookalyn, BSN, RN

Specializes in MICU/SICU.

Hi! Valid concern. I’m starting school next month! My husband and I made it a personal goal to pay off all other debts. I did travel & local agency contracts, as well as a lot of overtime to accomplish this. Some people can pay for school doing this alone if they’ve planned in advance. We saved everything! Not splurging as much as we may have wanted to. We didn’t save enough to avoid loans altogether, but we have a good emergency fund. Consider a hospital education contract (they pay for your school and you owe them time) or joining the military (what I would have done if I were single). Students take out a lot of loans and it is normal. Some employers do sign-on bonuses, which can help, but there is always a caveat. The debt to income ratio is doable and can be paid off quickly with some discipline. Many say it is worth the dream! I sure think it will be worth it for my family 🙂

Defibn', RN, EMT-P

Specializes in SRNA.

Saved up a good chunk of money before school. However, I am taking out loans to cover tuition and cost of living right now. I may deplete my savings later in the program as I am just in the first year. You never know what can happen over the course of three years. 

 

If you’re willing to commit your life to your schooling, this program is for you. Loans will completely cover all of your expenses, so you won’t have to worry about finances while attending the program. Federal loans cover all living expenses without a cap as long as you can prove what you are putting the money towards. With that said, you come out of school with a boat load to pay off and must be prepared for that. If you spend frivolously, you can dig yourself into a very deep hole. Give up Starbucks and eating out, pay off your debts, and follow your dream. 

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