Student Loan Debt

rtx723 · May 15, 2015

What is the question?

Red Kryptonite · May 15, 2015

I'm also 40 and halfway through a community college LPN program.

Let me ask you something: as a person only 25 years away from what most people regard as retirement age, do you really want to dig yourself a debt hole that big? I wouldn't do that in a million years. Especially when community college programs are right there and so much less expensive.

40K is a huge amount in any case, for an associate's degree it's insane. How is the job market for ADNs where you are? You'll need a job to pay that off, and in some places new nurses really struggle to find work. You'll be competing against BSNs for the same jobs.

If you were my kid, I'd tell you to absolutely not do this, but to get a CNA job and get on the wait list for the community college.

TheCommuter, BSN, RN · May 15, 2015

The answer to your question will vary. Some people have a blase, laid-back attitude toward student loan debt. Others are averse to it.

I personally would not feel comfortable accruing $40,000 in student loan debt. Others will feel differently.

Red Kryptonite · May 15, 2015

What is the question?

Right here:

after school my loans will be about 40K. is this pretty standard. I have no idea if this is outrageous or not.

notnursezelda · May 15, 2015

40k? For an ADN. I would say that community colleges from my experience are cheaper than that, even for nursing programs.

My BSN is costing me around that. Plus hospitals are slowly phasing out adns so you'll have to start a rn bridge program too, factor that into your plans as well.

johsonmichelle · May 15, 2015

40 k for an associate degree is not reasonable. I hope this school is accredited. In my area, you have a year to sign up for the rn - bsn program and about 3 years to complete. Magnet status hospitals only hire bsn based students. So you may even have to take out more loans. I will personally not spend no more than $20,000 for bachelor nursing degree.

llg, PhD, RN · May 15, 2015

I wouldn't go that deeply into debt for an ADN, particularly at your age. Maybe for a BSN and you were younger, but not at middle-age and not for an ADN. Find a better way -- or don't do it at all.

SwampCat, BSN · May 15, 2015

Granted I was/am super poor in the eyes of the state, so I am getting off pretty easy.. but I was able to get many scholarships, grants, financial aid, etc to knock everything down to $16k for a BSN at the big public college in state. With $40k debt to pay back in about 10 years, how to you feel about having a $350+ (don't forget interest!) loan payment every month?

verene, MSN · May 15, 2015

I am entering to get my ADN starting in two months. at 40 years old i feel i got a late start but the overall cost of my school (private school) is $25,000 about. after school my loans will be about 40K. is this pretty standard. I have no idea if this is outrageous or not. Public schools were insane to get accepted into and i just want to get it over and done with.

An ADN from my local CC is about 11K + books and fees. 25K for a BSN from a public university, 40K is a BSN at a private school or out of state public, so 40K in debt for an ADN degree seems very unreasonable to me. If the desire to be done with school is worth that much debt to you then go for it, but it might make more sense to try for one of the public schools, and if wait-listed work on building work and volunteer experience that will increase acceptance likelihood, provide a potential pre-degree financial boost which could reduce total loans, and bolster your resume and industry connections for the post-schooling job hunt.

Cakelady1 · May 15, 2015

My program is a dual enrollment ADN/BSN program. Total will be around $22K - and I will have my BSN.

caseyuptonurse · May 15, 2015

I'd say that's outrageous for an ADN. Around here they don't even hire them anymore unless you're in a nursing home or you promise your employer you are starting your BSN within a certain time frame. For 40k I would go straight for a BSN. But also think about your timeline and that if you take 10 years to pay that off or longer you will be 50+ when most people are working towards retirement savings. ADN would be beneficial if you are okay with not working in a hospital and if you can do it through community college and owe much less.