Will my debt load affect admission to a program?

[CABGx4, ASN, BSN, MSN, CRNA]

I am married, two young kids, mortgage, student loans from nursing school and a previous degree, car payment, and credit card debt. I know I should pay off as much as possible prior to starting a program, but my current economic status (RN salary) seriously hinders paying things off early. I am not an irresponsible person or consumer but I've had to do things for my family to survive that financially were not the best option but the only option at the time.

I will be interviewing this fall for two local programs. Do the schools look at credit scores/profiles? Will debt disqualify you even if you are a stellar candidate for an anesthesia program?

p.s. I'll worry about surviving through the program once (if) I get accepted.

Thanks!!

[loveanesthesia]

I think it would be very unusual for a program to check credit scores. But how are you going to finance a nurse anesthesia program? There are not as many private loans available, that combined with credit card payments, cost of living and tuition will make it a challenge. I woulnd't start with significant non student loan debt, except a reasonable house payment. You can defer the student loans while in school, but not the rest. You don't want to have to drop out because of finances.

[srnamom]

It might. Schools want to do everything possible to prevent admitting someone who drops out, since that is a spot that could have been taken by someone who completes the program. You need to seriously consider whether you're financially prepared for 2+ more years of school with no income. Loans are much harder to come by than just a few years ago. Will you really be able to borrow the costs of tuition plus living expenses, given your current debt load? You can't count on working. Take a really hard look at your current expenses and cut everything you can, including the option of trading down to a car with no payments, etc. Living that lifestyle for a while will allow you to pay down your debt and, more importantly, will help you put together a realistic financial plan for school.

[mildcigar_2001]

People or organizations are unable to check your credit score without your permision. For example, if you apply for a credit card the fine print on the application gives your permision for the credit card company to run a credit check. At the admision stage the school is unable to check your credit.

[ucan2ccrn]

This is the time you should be working on getting your debt reduced and making sacrifices. Waiting untill you get accepted is too late. I would pay off the cars and start paying off your credit cards with the highest interest rates first. This will help out tons. Thankfully, both of our cars were paid off in 2009 and I will drive my camry untill the wheels fall off before I even think about buying another car. Luckily, I only have one credit card, that I dont even use. You will be debt free before you know it.