student loan nightmare!!!

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Okay I need to vent!!!!! I have $45,000 in debt (not counting interest):madface:...As graduation approaches I am upset tinking about the loans I will have to pay back!!!! I have $15,000 from direct loans and $30,000 from chase. What the heck!!!!! am I alone???? should I consolidate? any advice?:uhoh21:

Specializes in L&D, Mother/baby.
Do you have any Perkins loans? Being an RN will have them forgiven.

no i dont have perkins loans

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Specializes in Family Nurse Practitioner.

Please consider sharing your hard earned experience next time you see a thread where people are encouraging a student to take out whatever loans they can get for living expenses to quit work and "focus on school". Hang in there and just knock it down as quickly as possible.

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consolidate your loans and then look into the military! i was a military member and it's not bad. the navy looks like they have the best bonuses and loan repayments.

also...the VA hospitals in many cities are offering bonuses and loan repayments as well.

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Specializes in L&D, Mother/baby.
consolidate your loans and then look into the military! i was a military member and it's not bad. the navy looks like they have the best bonuses and loan repayments.

also...the va hospitals in many cities are offering bonuses and loan repayments as well.

are you talking about active or reserves? also i was told its really hard to get a job at va hospitals if you are not in the military.

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Nope our not alone!!! I owe a 100 grand in loans! Before I went to nursing school; I was about to graduate with a degree in theater and in journalism. I just figure they will get paid off eventually and I paid all that money to become a more well rounded person!(thats what I tell myself so I can sleep at night):bluecry1:

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Specializes in ICU, Med-Surg, Post-op, Same-Day Surgery.
are you talking about active or reserves? also i was told its really hard to get a job at va hospitals if you are not in the military.

depending on the area, it may or may not be difficult to get the job. however, the employment process can easily take up to 6 months. don't ask me why?!? i work at a va hospital as a student, and even for that job it took 5 months from application to training. i heard that they are trying to streamline the process, though.....

however, they do repay loans, but you may have to work there a bit and apply for the program before it kicks in. so, make sure you talk to a recruiter, ask lots and lots of questions, weigh your options, and decide what is best for you.

rememer, with stafford and federal loans, they will always allow you to adjust the payment size to your income, and you can apply for deferrement if times get hard. and when you are in school (even part time), your loans are automatically deferred. so you could also consider starting graduate school, taking only one class at a time, to buy yourself some time. many hospitals will pay for both loans and tuition reimbursement. so shop around and good luck!!!!!:D

p.s. i have a previous masters in musc prior to nursing, so i feel your pain! just stick with it, though. you have chosen a wonderful career!

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Specializes in Med-Surg.

Go to Dave Ramsey's website. There is a link for student loan consolidation. There are also tips available for debt reduction and personal finance management. I was doing this program before nursing school when I was a pharmaceutical rep. It has really made a difference in my sanity. Nursing is a great career, but it helps to have a handle on finances.:twocents:

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Specializes in Med-Surg.

Maybe we could start a "thrifty forum" ? With cheap and yummy recipes, ways to do more with less and how to have a decent quality of life as a poor nursing student?:twocents:

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vixen, i like that idea - a thrifty forum!!!

on top of that... one would need to refrain from vices such as smoking, drinking, they can get rid of their cell phone plan, use public trans.., eliminate cable

but i'd say most people will keep all of the above and end up with a big loan..

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Specializes in Med-Surg.

I think that may be because of time constraints or not knowing how to be frugal. I think I was one of the few pharmaceutical reps who shopped at Salvation Army and other thrift stores. I actually get my shoes reheeled and resoled. It is amazing how much the little things add up. I saw some great recipes for crock pot cooking on this website. I love my crockpot and rice cooker. This makes the difference between getting home hungry and ordering out or getting home to a hot meal that gives you enough for leftovers that you can take for lunch the next day. Other things, like taking snacks with and water from home instead of hitting the fast food places. I am a huge coffee drinker, so I brew my own at home and sometimes splurge at Costco on to-go cups. If you save $5 a day, that adds up to $1800 a year. Who couldn't use an extra $1800? That would fund a family vacation or a major appliance purchase.:twocents:

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i was worried about that too...i have double figure loans and I have not even started yet...but ... i saw some post that really put things in perspective. Basically some people stated that we are willing to take out loans for cars and houses but we cringe at the thought of financing our education with loans. I think its because we are not getting a "short term" payback with the education loans. By this I mean we are not getting substantial income at the time we are taking these loans.Usually if we buy a house or car using loans we have the income to do so.This alleviates our doubts. Have faith that you will graduate and get a good paying job and you will be able to pay back the loans. This is the best investment you can make for your future. Good luck

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vixen, i love how you go about saving money...and i agree with the crock pot i love my crockpot!

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