To work or not to work?

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So I just applied to a local community college and will hopefully be starting there this fall in a bridge program that lets you complete nursing pre-reqs at community college and then transfer to Belmont. I'm a second degree student (just had to have that English BA, sheesh), so I qualify for just about nothing aid-wise.

This means I'm gonna be taking out a lot of loans, much as I don't want to. here's my question: is it better to work so I don't have to take out quite so much in loans (though it will still be alot), or should I just buckle down and accept I'm gonna have alot of debt once I graduate? Right now I have 20,000 from my first college degree, and if I don't work and take out loans to pay for all of my living expenses for the next 3 or 4 years, i'll owe around 100,000, plus the first 20,000.

If i take out loans and whatnot to go back to school I know I'll have an improved standard of life, considering as a English graduate I have yet to find any job that pays more than 9 bucks an hour here. And everyone I know-- family, friends, admissions counselors--has said if I don't absolutely have t work don't do it because it's better to apply yourself to your studies. I've got a few friends who are pharmacy and psychical therapy majors and I know they're planning on not working during school, so atleast I wouldn't be the only person I know with major debt... I know I'll atleast be working during the summer, so that will be some money i can put towards paying down debt.

After graduation the only debt I'll have are the school loans, and I'll be making around 33,000 or so, i think, and after a few years in the workplace I'm gonna try to find a loan repayment deal at some place.

I don't know what to do. I'd honestly love to not have to work--there was many a time I came home from work at 1am and had to finish a paper or study for test that was the next morning the first time in college, which meant i did well, but not as well as i would have liked-- but the whole going into debt thing has me really freaked out.

Advice? What did any of you guys do in this situation?

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Specializes in Acute Mental Health.

I chose not to work, but I also have a SO (sig. other) that can keep up with living expenses. NS is difficult, but many work full time, have families, and do very well in the program. The advice given out most often is that if you have to work, you have to become very organized. If you procrastinate (like I tend to do), it will be difficult (but not impossible) to succeed. Alos, many employers will pay a portion (if not all) of your student loans if you promise to work for them for a set amount of years. Good luck

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Specializes in Family Nurse Practitioner.

This is a hot button for some reason but my opinion is that no way would I not work and run up bills for living expenses just because I wanted to "focus on school". I did the CC route for my ADN so it was cheap and I worked a min of 30 hours a week. I graduated at the top of both my LPN and RN class without any debt. Just because others have debt doesn't make it the smartest thing to do. :)

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Specializes in Critical Care.

I know this is a hard decision to make but you really have to do what is best for you.

I left my full time career to go back to school full time. I had to take out a student loan eventually after about 2 years of working part time. I was finally accepted into a RN program for Fall so I am glad I took out the loan last year so I can work around 16 hours a week. I am not happy that I did but 20k is a small amount compared to how much I will be getting paid as an RN here in California.

You will really have to think about what things you can cut out and cut down on and then look at that else you need. I am making 1/3 of what I was as a full time worker, but I am still managing.

I hope that you are able to get some scholarships and grants because that can really help you stay too far out of debt.

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Specializes in acute care.

I think that, ultimately, this is your decision to make. I have a degree already, so I am paying for my expensive BSN with loans and a small scholarship. I will have a huge amount of loans to pay between my first and second degree, but I will also be making over 60k out of school. Thankfully, I am able to live with family so I don't need loans to pay rent (not that I would do that anyway).

If I am able to work during school, I will even if it is just work-study.

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I worked full time while doing pre-reqs, but when i started the actual nursing program i decided not to work. At my school they recommend you not work, but if you have to they understand. There are 2 classes in particular that they definitely say not to work during.

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Specializes in ED.

I decided to quit, however, it was not an easy decision. I am married and have help. I know of those who have worked and did NS. Im betting the payoff would be tremendous in the end. Good luck to you.

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Specializes in ED, ICU, MS/MT, PCU, CM, House Sup, Frontline mgr.

everyone here is correct. you must do what will work for you. however, are you stating that as a staff rn you will be making 33,000/year? if so, a small amount per year will hurt you if you wrack up $120,000 of student loans.

without help from another source of income, you will not make enough cover the monthly payments and pay any other living expenses. especially since private loans can charge any interest rate and not fix the interest rate for the life of the loan. in fact 18%-30% interest for private loans is not unheard of....

similar to you, i do not qualify for student loans and i had the option of an accelerated bsn program, which i could have completed this past may if i had entered it in january of '07. long story short, i took the adn route because i already have two degrees and know i cannot afford to pay back over $100,000 worth of student loans debt as a staff rn.

repayment programs around me, other than the military or the federal government, are not good. the hospital i work at will pay back $10,000/year of my bsn education. so an 18 month accelerated program will give me about $30,000 for a 3-5 year contract. therefore, i have chosen to pay cash.

i work two jobs full-time during the summers and the same two jobs part-time during the school year to pay for my adn and courses toward my bsn. yes, it will take me longer to earn my bsn, but it will not take me longer to achieve financial freedom. i am graduating with my adn program this december and will work full-time as a staff rn to start tackling my old student loan debts. gl!:twocents:

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If you afford not to work, please don't!!

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I think the previous poster said it perfectly. If I were you I would work my butt off during summer, breaks, and weekends. I would try to cut out every expense that you do not have to have. My entire education to get my adn will only cost $10,000 here at the local cc so I am shocked at how much some of you are paying. I will be working every weekend and one evening a week during ns, and saving as much as I can during the summers. If you have to take out loans, which lots of us have too, I would take out the bare minium. Cut back all the extra expenses (for me it is netflix, xm, and spending money at wal-mart lol). $120,000 is a LOT of money to repay when you are only making $33,000 a year imo. Hope that helps:)

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Can you move back in with your parents? (I can't believe I'm saying that as I have kids your age:D).

I didn't work during school but did have a job in the summer.

Right now I'm in an accelerated RN-BSN program that will cost $16,000 at a private university. I took out a loan. I'm married though and 50 years old with 4 kids ages 25, 23, 18 and 6.

I work very part-time as a hospice RN.

steph

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Specializes in Family Nurse Practitioner.
If you afford not to work, please don't!!

I see this all the time and while I respect your opinion I don't understand it. If someone can have it all which to me means working while in school why isn't that encouraged? Truthfully I don't feel that working during school harmed me one bit and in fact not worrying about money and debt took a huge weight off my mind. So I had to bust my butt and be super organized, that doesn't sound all that different from what everyone in nursing school has to do whether they keep their job or not. :)

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