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Skeptical about the high amount of Student Loan

LPN/LVN Students   (3,764 Views 12 Comments)
by jigzawnurse28 jigzawnurse28 (Member)

jigzawnurse28 has 5 years experience .

4,023 Visitors; 89 Posts

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I start my LVN class on november. I just finished my financial aid appointment but im still skeptical about the result on the student loan that I will be borrowing. By the time I finish my LVN i will owe $27,000. Sallie Mae is the lender I chose. is it really that high?????? im not sure if im ready to commit myself to that kind of payment plan in the future. Im in San Antonio, TX and there's only one public community college here that offers LVN and its not even close to me but I can try if I really want to. But for now I picked the private school Galen College. Do you think working as an LVN someday will be all worth it? how much are your student loans? Or rather, how much is the average LVN loan? Coz I think mine is too much or am I wrong?

Thank you!

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HartfordSPN specializes in Graduate Practical Nurse.

3,206 Visitors; 115 Posts

well $27,000.00 sounds about right if you are looking into a private institution, i live in connecticut and the cheapest i have seen for an lpn program being offered through a private school is $29,000.000 and i have seen up to $31,000.00. i am currently enrolled in a state program that only charges $4,050.00 for tuition which financial aid covered everything. personally i could not dish out 27 grand for an lvn/lpn education. i think its just way too much. however, many people are doing it because the pay is very good here, a new grad can look to make at least $25.50 an hour. i think it all depends on that individual current situation.

is there any way you can try and apply to this other school, and ride it out for the next year? or is this something you need asap?

what ever decision you make best wishes and luck to you:up:. you will find what works for you..

:redbeathenina, spn:heartbeat

graduating class of january 2010

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1,162 Visitors; 47 Posts

It is a high loan, for the amount of time your in school. But I guess it just depends on how fast you want to get school over with and start working as an LVN. Most private schools are more costly than public. I will be attending Medical Careers Institue on the 28th and the cost is $29,000. If you think you can do the drive daily to the public school then maybe you should go that route if your worried about taking out so much in student loans. There is another school a little further from me that's cheaper, but I'd rather pay the higher school costs than sit in traffic everyday. My decision was a little easier for me since I'm a vet and VA will be paying the bill. Maybe you can look into scholarships too. I think most states participate in WIA (found out about this from this board), maybe that might be an option to help you out as well. Good luck, in your decision!!!

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HartfordSPN specializes in Graduate Practical Nurse.

3,206 Visitors; 115 Posts

Hi nursinthefam...

Can you please tell me what is WIA?

Thanks in advance

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14,472 Visitors; 2,487 Posts

It's a big amount of money, but look at it this way. Your payment that you will be paying back will be less than the extra money you'd be making as a LVN vs a CNA. So it's worth it IMO.

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1,859 Visitors; 44 Posts

wia is from the state I believe.. they will pay up to 6 thousand (in my state of new york) for your education..

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1,162 Visitors; 47 Posts

Yes, WIA is from your state. I actually found out about it on here. You can search WIA on here and I'm sure you'll see lots of posts about it. Or google WIA [your state].

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1,876 Visitors; 42 Posts

The program I'm trying to get accepted into is $30,000! Yes, that's just for LPN. All the community colleges in my area you have to have damn near a 4.0 Gpa to get accepted into the RN program or be willing to sit on a waiting list for the next 2 to 3 years with no degree or certificate. I recieve financial aid, if you are awarded any scholarships you may apply those, also in MI they have NWLB- up to $10,000 for a 2 years of education. for the one year LPN I believe your only allowed $5,000. Yes it's expensive but in MI a new LPN has the potential of starting out making at least $23.00, some I've heard started at $26.00 once they passed their state boards! For me it is so worth it! I have a sister that attends Indiana University and her tuition is $30,000 per year! and it will take her 4 years to earn a degree. Only you can make the right decision. I wish you the best!

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mrsrlg has 5 years experience.

2,710 Visitors; 96 Posts

Private colleges are definitely more than the community colleges. I go to a private college here in MI and will be starting my PN (LPN) program on Monday. The total tuition cost of the program is $16,185, which includes pre-req classes. However, there are still about $500 per quarter in book costs, so that adds on a significant amount, about $4,000. Good luck with whatever you decide to do. :)

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2,212 Visitors; 41 Posts

My school is 26,500. It was a lot to swallow at first, but now I can see how much I am learning. It feels so great to work in a field where I can actually help people and make a difference. It is worth the loan. Less than many cars you can buy, right? Go for it, and don't look back.

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4,816 Visitors; 173 Posts

The part that really scares me about your post is the lender Sallie Mae - google them...they don't have a sterling reputation among student loan lenders. From what I understand that are not so lenient in the time frame for starting repayment or if you have to defer payments. Just research them better before you sign on for that amount of debt.:twocents:

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TheCommuter has 10 years experience as a BSN, RN and specializes in Case mgmt., rehab, (CRRN), LTC & psych.

1 Follower; 228 Articles; 316,205 Visitors; 27,607 Posts

Back in 2004, the tuition for the Los Angeles area LPN/LVN program that I had attended was $19,995. I have heard that the tuition rate has increased to nearly $30,000 for the 12 month program.

Private schools are rather expensive when compared to their public counterparts. I think it is because the owners of the private schools know that there are enough students (a.k.a. customers) who will pay for the convenience of bypassing waiting lists, avoiding lottery style admission policies, skipping prerequisite classes, and completing the program quickly and on schedule.

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