please help me

With many of us approaching graduation in May, there have been several threads lately about loan repayment. If you'll search this site, you'll see a bunch of discussions about this very topic.

They basically boil down to:

* It depends on where you live. Where I am, only two hospitals offer loan repayment: one pays $6,000 for a nights, $3,000 for days, with a three-year commitment. The other pays $10,000 for hard-to-fill shifts w/a five-year commitment.

* Most require that if you default on the contract, you have to pay back what you've been given. Many of us have found it's not worth it. I've discovered I can work an extra shift a week and get more than the maximum contracted amount w/o signing my life away.

* One poster recently said her son is in a nice program that pays monthly and if he quits, he doesn't have to pay anything back. Now, that's nice, but rare!

* As much as you hear about a nursing shortage, there doesn't seem to be many financial incentives to help us out. So ... no free ride!

Good luck. I've pretty much decided I'll work extra to pay off my loans. I'd rather have the flexibility to work when and where I want.

$10K sounds about right. I've never heard much more, although, I'm sure there are some programs. How much are you talking?

Is this something you researched prior to taking out loans? It seems a lot of students don't consider how they will pay back their education (not just nursing students.) I think it's something we do a really poor job of when preparing kids for college. It's like everyone thinks they have a right to an education, but that doesn't mean they can afford it. Not saying you, but a peeve of mine in general.

You may want to post these questions on your state forum. They can likely give you some places to look for tuition reimbursement programs as well as telling you about the pay rates for new nurses.

thanks for the comments. I am willing to relocate anywhere, so if any of you could tell me the starting pay rate where they are.

I will end up owing about 50,000

I agree completely. I run into so many people who think that a college education is an entitlement -- that society should pay for their college (or grad school) education the same way the public pays for grade school and high school education. Some seem unwilling to make much of a sacrifice for the higher education, wanting to keep their nice houses, cars, etc.

Some borrow enormous sums to get second and even third degrees as they dabble in fields without taking the time to find out first whether or not they will truly want the career that their degree will lead them to. .... And they expect society to pay for their journey to "find themselves."

It's a big pet peeve of mine, too. I worked hard and made lots of sacrifices to put myself through graduate school -- and my parents did the same to put me through college. I'm very willing to help some people who need some assistance, but I get very angry at those who expect a "free ride."

Now ... I'm not saying the original poster is one of those people. Nothing in the original post indicated that. Please don't think I am trashing him/her. I'm just talking about some people who rack up big debts without planning in advance how to pay them back.

Well I am not one of those people, but I had heard from MANY different people that nursing was in such high demand that many hospitals were willing to pay off student loans, no I guess I did not research this but the large student loan was no choice the only nursing school near me is a small private college with high tuition so this was really no choice!

Where I live they will pay $250/month as long as you work there (after working there for 6 months) Most area hospitals have a 9k limit but where I work it's until it's paid off or as long as you work there..no limit. I had taken for granted that it was pretty common but after checking out some hospitals in other areas it's not all that common.

momy nurse2b were was this hospital located at?

thank you too all that have given me great advice....this really helps during this VERY stressful time!

You should consider the Indian health service. They will forgive up to 40,000 for 2 years service at high needs areas. I worked in Alaska for 2 years, and had 36,000 in loans forgiven. They also pay any taxes the additional income will produce.

There are several other programs set up for loan forgiveness, just google nursing loan forgiveness and you will get several addresses.

Good luck! I enjoyed my time in AK and also got all my loans repaid. It was a great experience all around, stayed for several years even after I met the obligation.