Need to go school to avoid paying loan

pixiestudent2 · Apr 26, 2015

Why not just pay your loans?

There are income based repayment plans for federal loans.

Why take on more debt to avoid paying debt?

WookieeRN, BSN, MSN, RN · Apr 26, 2015

I really don't think adding on more debt is the solution to your problem. What happens when you finish and now have two loans to pay on?

meanmaryjean, DNP, RN · Apr 26, 2015

Why can you not just work and pay?

caliotter3 · Apr 26, 2015

I would not go back to school unless motivated to further my education for the purpose of furthering my education. Paying debts falls under the 'work' category for me.

kitkats4breakfs · Apr 27, 2015

I don't want to pay my loans either... So I'm starting my RB-BSN program soon. This will work in my benefit, I'll be able to work part time while focusing on my studies. My loans will be automatically placed in deferment without penalty.

However, your a nurse right... You should be able to pay for your loans. what sense does it make to accrue more loans and interest?

try getting government job and work for 10 years and your lungs will be forgiven... At least that's what they claim.

fostercatmom, ASN, BSN, RN · Apr 27, 2015

Get the violin ready.....I don't want to add more debt, but I am trying to sell or rent 2 houses in Florida (one was mine and one left to me), I had tenants in one ...they gave me a 9 day notice they are leaving. And the other one I was trying to hang onto for retirement because I owe so relatively little and my son is staying there while he goes to college and paying some rent with a friend. That's coming to end too- the friend is not paying anymore. I had to move to Ohio to be able to find work as a case manager (all the Fla jobs I found really wanted a BSN) because I broke my knees running to a car accident- couldn't/can't work the floor anymore, then I got my BSN- which was pretty cheap by going to Ohio University. I just can't manage 2 mortgage payments and 1 rent payment and a car loan payment and a school loan. I tried the income thing, and they still want $400 a month. I had always planned on going back to get a masters for me. And I could manage if it wasn't for all this other stuff right now. I work for a non-profit so I fall under the 10 year plan. It just has to go on hold until these stupid houses are taken care of. I've looked for a second job, I work nights as a CM, haven't seen anything else I can do at night-floor work is not an option anymore. I 'm next up for a day job, then I could probably get a part=time weekend CM job. I worked too hard (4-6 12 hours a week for almost 20 years) to rebuild my credit ( paid off other debts) after divorce to mess it back up by walking away from the houses. Hopefully this is just temporary. I'm just not sure what I want to do for a Master's ...education would probably make the most sense , as the possibilities for a part time job would be greater than any rise in income with a MSN in CM???? plus isn't there a loan forgiveness program for educators? I guess I answered my own question...you guys are right though...going back to school to avoid loan payments is generally a bad idea... I have no where else to cut --No credit cards-yay, no cable, cell phone is limited. I was finally in a good spot 2 months ago to pay the school loans and life happens. Thanks for listening- maybe this was just a vent post:unsure: :sorry:

Mavrick, BSN, RN · Apr 27, 2015

Well that was a waste of a perfectly good violin.........

You sound so much smarter in your second post. I think there is hope.

Does your rental agreement only specify tenants have to give 9 days notice? If not, can't you keep their deposit and any other monies that that would equal 30 days rent? There are rental management companies that will find tenants for a percent of the rent or you might have to sell that house for cheap just to get out of the mortgage. Your son and his friend are staying for free? They should be paying you enough to equal the mortgage.

So could you get a CM job in Florida now that you have your BSN and live in your own house, pay one mortgage and not pay rent?

I have no idea how practical this idea is but I'd like to see if it works. Start a GoFundMe website and see if anyone will donate to your cause.

At any rate taking on more debt because you can't afford your current debt is "Coo Coo for Coco Puffs"

JoseQuinones · Apr 27, 2015

Wow, what a messy situation. I have no advice, but I will remember you in my prayers.

imintrouble, BSN, RN · Apr 27, 2015

This thread reminds me of the "should I dye my skin green" thread.

It pushes all the right buttons.

Or maybe I just need to go to sleep after a long weekend of nights.

Whispera, MSN, RN · Apr 27, 2015

I don't know what you make as a case manager, but nursing educators in nursing schools sometime make far less per hour than other nurses earn. Are you meaning to say you might work as an educator in a hospital, as hospital staff, and that would be the point of a possible MSN? Those jobs aren't plentiful.

There are loan forgiveness programs for educators, but their funds aren't unlimited. Two people I know, who had them for last year, found they couldn't renew them because funds were gone. Also, they don't usually pay for past education. They pay for in-progress, or earned while an educator.

There's a limit to the number of times you can get federal student loans, I think. You might be at that point.

SummerGarden, BSN, MSN, RN · Apr 27, 2015

OP: To add to the above advice.... Try agencies to find another job nursing CM job. There are also travel opportunites for Case Managers too that contractually pay well. Another income is likely to be the best option until you either find other tenants or sell one of your homes. Good luck. :)