Student loans...how much do you owe?

Nurses General Nursing

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I went to a private college for my BSN and I'm in the hole nearly $45K :eek:

Looking back, I wish I would have not been so impatient and applied at a nearby public university...but I was afraid I'd be stuck on a waiting list for ever and a day. Ah, well.

How about you?

Specializes in emergency.

I am about to do an ABSN program and maybe you all can give me some wisdom. I'm applying to public and private. The private is about $50k and the private $30-40k.

Is it worth it to save $10k and go to a slightly less prestigious school? Is it a big deal to you now that you have to pay off the loans? Did anyone try to apply to a loan repayment program like NHSC or Navy or anything??

Advice!

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~ $60,000 and I did my BSN at a public school.

However, the first few years of my schooling was at a very expensive public school until I transferred. I have been living on my own since I was 18 and have had to pay for school myself on top of all of your regular living expenses, thus I had to take some money out for living.

I went to school with a guy who walked out of school with his BSN with $160K! He went crazy with loans and would take out up to $15 - 20K a semester to live off of AND he worked. Him and his wife lived a lifestyle that was over the top... everyone warned him about taking out so many loans but he said he could pay them back after school. He can't even afford his student loan payment and he is considering joining the military because they would pay off $50K of his student debt.

160k? That doesn't make sense. The max an undergrad can get in subsidized and unsubsidized in 57k I thought.

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I owe $0. Nursing is my second degree and currently attending a local community college. Received a BBA for Finance from a private university. I chose the school based on the aid offered to me.

I plan to receive my BSN/MSN from the same private university in a couple of years and hopefully they will be generous once again. It also helps that my husband's company reimburses for my tuition (yup, spouses are covered) and I try to be cost effective when buying books.

Yes, I know how lucky I am and I don't take it for granted.

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Specializes in OB-Gyn/Primary Care/Ambulatory Leadership.

About $6K once I started paying (oh, community college, how I love thee). It was only that much because my second year I was divorced and a single mom, and needed financial aid to live on.

When I'm done with my Master's program, it will probably be around $40K.

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owe nothing, no real reason to when a nursing ed can be had at so many public institutions. no real idea why folks pay so much for a nursing education, wow, but it's a good investment compared to so many other types of educations people pay for.

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Specializes in Cardiovascular medical/surgical.

Just under $60k for a second degree BSN

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Wowser! I am just in shock over the huge amount of money people owe. I went to a community college and paid (out of savings) for each semester as I took it. We had a houseful of kids with all their expenses, but we scrimped where we could--thrift stores, day-old bakeries, marked-down meat and produce at the grocery store, DIY repairs, no cable, library videos instead of Blockbuster, etc.

I have never felt (or been asked to feel) that my education was sub-standard in any way. And my kids got a real education in how to make a dollar stretch that they thank us for all the time.

I could not have gone to school with the idea that I was racking up a huge debt that would take many years to repay.

You all have my admiration for your courage. Except the guy who ran up 160K in debt including non-essentials. That's just stupid.

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Love the people getting ADNs and looking down upon the people who spend 50-60k...everyone has their own plan kids. Remember public and comm colleges have MAJOR waitlists these days. Private gets the show on the road, and if one makes good money for years and works frugally, they avoided the pain of burning years on a waitlist, or crossing their fingers in a lottery system. Both paths have drawbacks. Additionally if one already has a degree going for an ADN makes little sense, and in some areas the hospitals are trending towards only highering BSN new grads. If your an ADN nurse who already has a job good for you!

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I will owe about 30K when I graduate. But I'm not working, and use my loans to help with bills, so it's worth it!

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To clarify--I'm not looking down on anyone. I just couldn't have lived with the pressure of the huge loans. I did pre-reqs while waiting for clinicals. This plan won't work for everyone, but it's a great way to go for anyone who has this option. An added benefit is that tuition reimbursement from an employer can help with BSN completion. Takes a bit longer, but for some it's a good game plan.

As for my comment about the guy who ran up 160K in loans, I don't see how anyone can realistically think they could pay that back unless they work tons of overtime and give up everything else for about ten or fifteen years. That's the cost of a house in many parts of the country. Wonder if in hindsight he thinks he made the right choice.

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Specializes in Army Medic.

I'm surprised at how high some of the loans are too, but I never had to look into it very far.

I know through community college I would owe around 8k when all was said and done.

Government pays my way - join the military if you don't want to pay loans back. :)

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Specializes in neuro/ortho med surge 4.

I owed about 14 grand when all was said and done. I was lucky because I got into a community college and already had all of my prereqs done. Plus, I have a Bachelors in Finance which covered my English, Math, etc.

I thank God I got into the community college every day as I had also been accepted at a privete college which would have cost 4 times more.

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