What I Wish I knew about Student Loans before I went through Nursing School!

  1. Devorah says:

    I love this blog! I just have to say $25,000 debt isn’t that bad compared to many people I know. I am applying for nursing school right now and the community college I can go to for $4000, but the other accelerated bachelors programs that I am applying to cost between 35,000-50,000, for ONE year, not including living expenses!! I am strongly leaning towards doing the ADN program and then bridging to a bsn/msn program because it will likely save me from having $50,000 of loans for the BSN and an additional $30,000 for an MSN. ( am planning to become an FNP) Initially I wasn’t considering an ADN at all, but then I realized that a loan of 50,000 would equal a $600.00 loan repayment each month….which is quite a lot!

  2. Meghan says:

    I owed 60, 000+, for which I’ve paid 700-800/ mo for 13 years every month on time. It’s beyond obnoxious.
    I’m not one to “Monday- morning quarterback” a decision. I loved every second of my time at Marquette, and truly value the education I received there. I love my husband, whom I met there. And I love my current life, and I got here with the decisions I’ve made. Thus, I can’t say I have regrets.
    That being said, hopefully young people can learn from my story or the authors to incur as little debt as possible. We don’t struggle, per se, but it’s very frustrating to watch my contemporaries buy new cars, go on yearly vacations, buy furniture etc. I often think, what are we doing wrong? Why aren’t we at that place? Why do we have to occasionally play rotate the credit card for above average expenses? Ohhhhh yea, that 700$/mo would go a long way towards those things.
    But it kind of sucks sometime to think that my parents pushed hard for us to be educated so that we could have it easier than them. And here we are, a bsn and an instructional designer (with a master’s). And we don’t. Not now anyway. In 8 more years or so, we probably will.
    I’m glad I started with my bsn, and probably wouldn’t have changed that, but I could’ve gone to a much less expensive program to be sure!

    • Kelsey Rowell says:

      I feel you! The whole rotating cards and not being able to do the vacays we want and other luxury things just stinks! We’re actually selling my husbands truck to reduce gas/payment costs! Hang in there though, you’re not a alone and we’ll get through it! I normally write very uplifting content, but i needed to say this!!! ha!

  3. linda kuenster says:

    I am shoked@what it costs today for nursing school…I got my LPN in 1972, then RN in 73+it cost me…are u sitting down??.. $50/1st 2 quarters, then $75 the next 4, then $150 then last 2+ that was it…I don’t recall paying for books,uniforms..all wereincluded..my parents paid all my LPN year, then I got a job+worked as LPN my 2nd year..that was the best decision..I learned soooo much from those RN’s I worked with…the last one passed away last year@age 93!!! Now, next year I will retire from many years of doing that which I love..being an RNC. in the NICU…I could retire in march as I will turn 65, but plan to work to 66 (I need a major shoulder surgery which I plan for after the 1st of the year..that is if I can manage the pain till then….) I shudder when I read stories such as yours…now it seems,@least here in AZ, that an ADN, isn’t even going to be accepted much longer…our hospital system is the only one hiring ADNs..+u need to b in school for RN or have one by 2018….this makes me glad I’m on way “out” instead of “in”

    • Kelsey Rowell says:

      yes Ma’am! It’s so crazy! theres just a giant disconnect. They say the higher degrees are to make you a more rounded nurse and better your knowledge, but lets be real. it has everything to do with hospital reimbursement! MAGNET status is the only status these days…..just breaks my heart. My mission in this blog is to restore the heart of nursing and run away from the business its become! thanks for your comment!

  4. Katie says:

    I’m glad I read this! I’m about to start my nursing school soon and they want about 50,000 for my entire associates degree. It really seems pricey, but the program is only 18 months start to finish, so my husband and I came up with a plan to put every dollar I earn from my new nursing degree back into my student loans. If I get a job making $22/HR (the rate here in Utah) I’ll have my loan paid off in about 18 months. We are lucky enough that with my husband’s salary (he’s an engineer too!) we can afford to do it that way. After my loans are paid off, I will put all my earned money towards his loans.

    I’m with you, though. My husband spent 7 grueling years in school to become an electrical engineer. When he graduated and the student loan payments kicked in, I thought we were going to die! I couldn’t believe how expensive they were. Completely unfair to make hard working people with bachelor’s degrees suffer at the hand of s student loan! Talk about turning people off from going to college! My husband’s twin brother works for a truck stop company and he makes the same amount of money as my husband does, yet he doesn’t have any loans to pay off and they even just bought a big beautiful house! And we’re over here putting groceries on credit cards! It’s hard not to wonder if it was worth going to school!

    I hope my plan of paying off my loans is a good one. What do you think of it?

    • Devorah says:

      Do you have a community college nearby? You should be able to get an ADN for a lot less than 50,000! Here the ADN is around 10,000, and the accelerated bachelors are from 35,000-55,000.

      • Katie says:

        Yes there is a community college nearby and I could go there but it will take me 4 years to get my ADN vs. 18 months at the accelerated college.

  5. Lara says:

    I wish it was a case of just trying to take as little loans as possible to help. I only took the loans I needed. I graduate in May with approximately 35,000 in debt. This is after a transfer scholarship, after the remainder of my federal grants. I managed my first Associates Degree (in another field) without a dime of debt (10 years ago) and I knew I would likely go in debt for my BSN, but I had NO idea that it would be this much debt. I worked full time the first three years, which was difficult, but this last year it was impossible. With 1 full to three part days of classes and two to three whole days in clinicals, it left me with the ability to work for pay about 12 hours a week. I started my own business to make ends meet (that profited about 5K last year). That’s what kept my family afloat, that and the loans. My husband worked up to 40 hours of overtime a month for the first three years and we still scraped by.

    It’s not just the loans, it’s the education system. Prices have skyrocketed, and programs are even less forgiving of those that want to work and make their own way. Part time and even full time jobs at more than minimum wage could not possible pay for college anymore, not to mention how many people are getting their education to break away from just minimum wage.

    It’s terrible to say, that while I’m very proud of my education, I don’t think it will be worth the cost in the end. Even with the jump in pay I won’t be making that much more after loan payments anyway. Disheartening.