Student Loans

HouTx, BSN, MSN, EdD · Oct 6, 2011

I am assuming you want to know how much it costs to complete an accredited pre-licensure program, right? There are so many variables to consider. First of all, there is a huge range of cost, from dirt-cheap ($100,000) BSN programs at commercial schools. You will need to do some research to find out the cost of programs that interest you.

Secondly, what will you be using the loans for? Partial tuition? Total tuition? Tuition and books? Tuition, books & living expenses? If you take some time to familiarize yourself with the horror stories from people who took out massive loans to cover all expenses, I'll bet you decide to minimize those loans.

willowita, ADN, RN · Oct 6, 2011

Depending on your situation, you may not have to use loans to pay for 100% of your education. In a lot cases, you can get a combination of grants and loans. You don't have to pay back grants.

But don't let that scare you because student loans are actually a good kind of debt to have. It's not like credit card debt. Interest rates are very low, you can put your loans on hold if you have financial hardship, and the amount you pay back every month is not that high all things considered. This is assuming you get student loans through FAFSA. Going through a bank is a rip off and that's the kind of debt that will give you problems.

It's an investment in your future and almost everyone has to take out student loans at one point or another. I owed about $30k from my first degree and my interest rate is somewhere around 4.25%. I've been out of school for 6 years and I've paid off 80% of my loan. I'll probably have to get loans for nursing but I know I'll be able to pay it back eventually.

amber.babiesinbloom · Oct 8, 2011

It varies so drastically depending on area, school and what type of degree.

I'll be getting a nursing diploma, followed by an RN-MSN bridge, and then my Master's in Nurse-Midwifery. I get $2500 per semester pell grant, and about $400 per semester lottery tuition fund. Everything above that is student loans. In the end, I'll owe around $70,000 in loans. I'll be going to a NC school.