New here...Question about student loans

[JamieA0321]

I am currently working the legal field and have been consdiering a career change into nursing for years. I finally decided this year I was going to just go for it, but now I'm completely panicing. I will need to take about a year and a half worth of pre reqs before I can apply. I will be applying to BSN programs as I want to keep my options open for a graduate degree in the future if I decide to go that direction. ADN programs seem to have a wait list more than 2 yrs long, and most job postings I see request/require a BSN, so I figured that was my best bet.

Now, on to why I'm starting to panic. I have a lot of loans already for the undergrad degree and post-grad certificate I already have. I don't qualify for any grants and didn't get any scholarships So, I'll be doing this solely on loans for at least this semester, but I don't see that changing for next year, either as I'll still be working FT finishing my pre reqs. I am a single Mom right now and have no choice but to work FT to finish my pre reqs, especially since I won't be able to for the 1.5-2 yrs I'm in nursing school (depending on the program I'm accepted to) If I could even drop to PT, I would in a heartbeat!

After doing the math, estimating the amount of loans I have after I finish pre reqs and nursing school (assuming I'm accepted to the Public University) my loan amount is going to be astronomical! I'm starting to feel like I'm just not going to be able to do it. To give you an idea, it looks like I could possibly be graduating with double the amount in loans as an average starting salary for a nurse! Then, the thought of not getting a job is just making me have a panic attack.

Given these circumstances, would you attempt it or just stick with what you're doing and hope and pray your circumstances change for the better in a few years, even though you are completely miserable? I've considered putting it off and just waiting a few years, but the problem is, at this time, I don't know when, or even if things would change enough to be able to quit my job until I was done with school. My family is NOT supportive of me going back to school, so help from them is completely out of the question. I live 12 hrs from my parents anyway, so moving in with family isn't an option, either. I'm completely on my own and will have to do it alone no matter when I do it. FWIW, I'm 30, so I feel like I need to make a decision soon.

[TheSquire, DNP, APRN, NP]

I'd contact the financial aid departments of the schools you're considering. You may end up having to take private loans if you go the BSN route. There are loan forgiveness programs out there for nurses who work for the government or in certain underserved areas, and if you work away from major population centers with lots of nursing programs you might still find some hospitals doing tuition reimbursement. Also, you're going to be able to find work once you graduate - you may have to move, or consider signing up with the military or the USPHS commissioned corps, but there's still a shortage on and it's not going to get better. You'll manage.

Additionally, as you already possess a bachelor's you can go the Graduate-Entry/Masters-Entry/Direct-Entry Masters route. Some of those programs spit you out with a flavor of APN, others with your RN and your APN core courses completed, but all qualify you for GradPLUS loans from the government as well as more Stafford loans (assuming you haven't maxed out the latter).

Full disclosure: I'm currently a year into a Masters-Entry program.

[JamieA0321]

Thanks for your response! I've not really looked into programs you were talking about. What are they? I would definitely be interested in something *anything* that would perhaps cut down the amount of time it would take me to finish, even if it doesn't cut down the cost. How do you know if the schools a grad-entry program?

[escapebigd]

I'm a single mom, and I have to work full time as well. I don't qualify for financial aid either, so I have decided to go for an interesting route. I saved up some money and became a CNA. I changed careers from an executive assistant to a CNA (Big pay cut, but its all for the plan). I'm going to work at the LTC I just got hired at and used their tuition reimbursement for my pre-reqs. I'm also volunteering at a hospital that has a satellite program for volunteers and employees for their ADN. They also have a program to go from ADN to BSN and BSN to Masters. So ADN will not rule you out for a masters in the future. I hope that after 6 months of experience I can get hired on at a hospital where I have a better chance at getting accepted into their satellite program which pays for everything including books.

Long story short, have you looked into what your local hospitals offer and see if you can get a job with them, most will do tuition reimbursment, and some have satellite programs.

[TheSquire, DNP, APRN, NP]

Thanks for your response! I've not really looked into programs you were talking about. What are they? I would definitely be interested in something *anything* that would perhaps cut down the amount of time it would take me to finish, even if it doesn't cut down the cost. How do you know if the schools a grad-entry program?

They'll be listed as such on the various websites that list nursing programs nationally, as well as on the board of nursing's webpage.