**Samuel Merritt ABSN Summer 2011**

[thebread]

So, who applied?

[Kt21]

That is the medcap and it was the one I was approved for. The rate on the simpletuition website is lower than it actually is. And it is adjustable base on prime rate.

[Kt21]

I will now wait and see what happens with the other schools I applied to.

[tiss]

Does someone have any idea about getting loan?

[bubbles313]

hi everyone! i know the tuition looks like a crapload of money but jus wanted to share how i justified my expenses. I know everyone is different and this is really a personal choice. but to those who are still debating - hope this helps somehow...

timing is definitely a factor for me. i rather pay extra to get done in one year than pay less to get done in 2+ years. I live on my own & have to pay everything myself. so basically- its the 58k + one year worth of living expenses instead of a cheaper tuition and having to pay 2 years worth of living expenses. so basically, i can't live on student loans with no work for any more than 1 year - i'd go nuts being on too tight of a budget lol

and with the student loans. i haven't looked too much into it, but i'm most likely going with the wellfargo medcap someone mentioned in previous post or salliemae. i constantly receive letters from salliemae offering specials on this and that. i know the interest seems to have variability and the price is high to pay - but i figured it'll all come back to me one way or another especially in taxes. i get credit for paying student loan interest rates and i definitely get a lot of bonuses when i claim my school. (that $1500 pharm class i took at samuel merritt boosted my tax refund )

and yeah i totally agree that some prices are not worth paying especially in spite of having a family. but compare it to other options that you do have and see what you've got? wait another year to get into another program that'll take two more years- or finally get it done with! :) good luck everyone!

[brendalwelch]

Hopefully I can make everyone feel alittle better about the money. Don't look at the $90k-$100k that SMU Financial Aid is quoting. I talked to my friend who just graduated SMU San Mateo in December 2010, and gave her this $90k+ figure. She said that other than the SMU tuition (which she said includes lab fees), the ONLY OTHER school expenses for her were some incidental online module fees (~$100) plus books. She said if you buy used books, you can sell them back and regain most if not all of your money! Other than that, she said your only other expenses would be your living expenses (rent/mortgage, food, transportation, insurance, incidentals). Figure out your costs for your normal living expenses and then add the tuition and then you'll know your costs for the year.

And this is how I'm thinking... yes, I'm quitting my well-paying full-time job and times will be tough for one year, but I'll be out in one year (instead of doing a 2+ year program) and will be working and earning a salary! Yes, the job market is tough but I'm networking now and feel confident that there are jobs out there! Confidence and connections will be key.

I really like what bubbles313 said... "but compare it to other options that you do have and see what you've got? wait another year to get into another program that'll take two more years- or finally get it done with!"... so true but you have to do what is right for you. But I think if you give up on SMU (and if you don't have other nursing school options right now), you may be giving up on being an RN. The competition to get into these schools is only going to get worse IMO.

Best of luck to everyone in securing financial aid!

[OakRN2B]

I have to agree with Brenda. I had done the same thing - looked at the cost of 1 year of tuition plus 1 year of living expenses vs. going to a community college program - waiting 1-2 years to get in, coming out with an ADSN degree instead of a BSN, PLUS looking at 2 years worth of living expenses instead of 1. Let's face it - if you're going to a community college, what kind of job are you going to be able to get? You'll still have the same challenges with having to find a job that offers extreme flexibility because you have to work around your clinicials. That doesn't leave too many options for jobs.

I too am giving up a well-paying job and I have a car payment, etc etc. When I did the comparison it was almost a wash. I figured that if I had to suffer some personal econonic damage it would be better to do it in 1 year than spread it over 2.

Yes the job market is tough, but regardless of whether it's tough or there's tons of jobs, your best bet to find an RN job is still networking - who you know. From what I can see the market is loosening up a little, and I anticipate by 2012 it should be better.

[Kt21]

I am not worried about the expenses for the next year it is the next 15 years of a large adjustable loan payment on top of my current one. I am a single parent and that is a large chunk of money each month.

[Blue22]

Has anyone gotten the financial aid packet yet? If so, what can we expect for direct subsidized/unsubsidized loans?

[iwannabnp]

I was called and accepted for absn san mateo summer 2011 on february 18 and have yet to receive an email of any kind about a deposit, etc., and am kind of worried that maybe they called and accepted me and now forgot?!?! any thoughts?

[ilnurse15]

i just got a confirmation email from Che on Friday afternoon saying that they have my deposit and I got a reciept from when i payed it. Email che today if you are worried about it and i'm sure she'll be able to tell you that they have it, Also was your account charged for the payment? If so this can help her figure it out for you.

[iwannabnp]

i just got a call and she said to look in my email for further instructions the following week, but I never received an email. I just wrote che asking but now I am really worried!

[tiss]

I am really worried about the interst of the loan; depending on how much one is taking out the interst can go over 6k a year.