Absolutely do not due this to yourself! Look up www.studentloanjustice.org and read the horror stories of college students and grads who couldn't pay their loans and ended up in default. Student loans are the worst and riskiest debt out there. There are no bankruptcy options if you fall on hard times. They will literally, and are currently garnishing over 100,000 senior citizens social security checks as we speak for unpaid loans. If you default the loan can double and triple due to high interest and fees including a 25% fee tacked on the loans! People have committed suicide over student loans! In some states you can lose your license to practice nursing or any other job that requires a license if you default. A few states will take your drivers license away if you default.
A person defaults by missing only 9 months of payments. At first you can get by with deferments and forbearances, but in most instances the interest accumulates and capitalizes causing your loan balance to spiral even higher out of control. In the end you will find yourself much worse off and it will take decades and possibly the rest of your life to pay the loans off. In the meantime you will not have the money to pay your living expenses, let alone save for retirement.
Also student loan forgiveness is a scam and a lie. The 10 year public service loan forgiveness program rejected over 99% of the people enrolled in the program! You read that right, less than 1% of "eligible" people were granted loan forgiveness, most often rejected for technicalities that know one could even know or foresee, everything from the wrong loans, wrong payment plan to consolidating starts the clock over, and you have to make ten years of on time payments to have any chance at all.
The path you are contemplating is the definition of insanity! To spend $85,000 with no guarantee to be accepted into the nursing program, you would be better off gambling in Vegas, you could actually declare bankruptcy if you fell into debt that way. I'm guessing your credits won't transfer because you were tricked into a for profit school and this one is the same.
Go the slow, sensible route such as a public community college RN program, even consider an LPN program with a one year bridge to RN. Most BSN's aren't even paid more and we are all paid the same at the starting gate regardless of how much money we spent.
Absolutely take the time to read up on personal finance such as Personal Finance for Dummies, Deal with Your Debt, Your Credit Score, Smart Women Finish Rich. Take a low cost personal finance course if you have the opportunity. Read and learn all you can about money. As a single mom you need to make the most of every dollar you earn.
Lastly don't blindly jump on the nursing bandwagon. Consider alternate careers such as ultrasound tech, radiology tech and nuclear med tech. Research allied health jobs. Nursing is a very high stress job and, if you work in direct patient care, dangerous to your body with a high risk of back, shoulder and neck injuries that in some instances are crippling and life altering. Really think long and hard before you pursue nursing.
If I had to do it all over I wouldn't choose nursing. I wish I had known about other options such as ultrasound tech, I think that is the best job out there for pay and working conditions in the health field.
Good luck to you!