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Financial Aid. Always fun.

BucketmanBucketman Call meSkraggRegistered User regular
I'm basically fucked right now.
I'm in nursing school at a local communityish college, but I spent a few years getting my footing, basically it turns out that the max on Federal Student loans is something like 57k and I'm at 51k before this semester even starts. That sucks balls, but even worse, I have about a year and a half of school left after this semester. I really have no idea what my options are, I've been applying for scholarships and grants like a mad man, but no one I know has any idea how to pay for school if you can't get federal loan money. I guess private loans are an option, but man, that would put me into like 30k in debt to a private loan place and thats even assuming they give it to me.

I was wondering if anyone here had any experience with this sort of thing, or had any advice. I really appricate it.

Posts

  • DevoutlyApatheticDevoutlyApathetic Registered User regular
    Where are you in regards to certifications right now? I've known of some nursing programs that grant an LPN partway through on the way to the RN license.

    While it's not what you want to hear but if you have an LPN cert it may be possible to find a job that is going to be understanding about going forward into the RN. It will mean working while you attend school, which means having essentially no life, but it can work out very well financially if you can find an employer with educational programs. The places that will do this may expect a commitment of a few years employment after you're an RN.

  • BucketmanBucketman Call me SkraggRegistered User regular
    My school does not offer an LPN at all.

  • PeJaePeJae Registered User regular
    The big question here I think is, “how well can I service my student loans?” If you are at $51k in debt right now and the payments on that loan are more than what you could make if you drop out of school then taking on more debt to finish might be what you have to do. This is assuming that you could afford the $80,000 that you would owe after getting your degree.

    There aren't a lot of other options at this point. Student loans are notoriously hard to discharge in a bankruptcy. It is not uncommon for some students to end up being “loan poor” after they graduate. They are only able to maintain a minimal standard of living due to paying down their debt and have to work in jobs that they would not otherwise be willing to take to get the type of salary they need.

  • BucketmanBucketman Call me SkraggRegistered User regular
    Well right now I have no degree and only any real experience in retail management, so I'm looking at maybe getting 20k a year if I drop out. With nursing I can make very good money, the problem is I spent time dicking around and got myself into this situation. If I could go back and slap some sense into the me of 5 years ago, I would but I guess I have to live with it.

  • DevoutlyApatheticDevoutlyApathetic Registered User regular
    Bucketman wrote: »
    My school does not offer an LPN at all.

    Have you talked to any of the actual nursing teachers about what you could do? I can't find what's required to actually take the NCLEX-PN, they might be able to help you if they think you're at the point you could pass it. They might also have contacts in the field that might be able to help you find something you could do.

    I'm suggesting looking in the health field because a) Any previous practical experience will be a plus when you do get that RN after your name and b) they tend to be pretty accepting of educational requirements.

    Otherwise it sounds like your options are massive private loans (ugh) or working a shitty minimum wage job and eating ramen while trying to keep up school (ugh) or giving up (double ugh.)

  • Mad JazzMad Jazz Registered User regular
    You could also look into getting a job as a tech at a local hospital. Doesn't pay great, but it doesn't require certs and they love hiring people in nursing school since it's a good way to recruit new employees. I put myself through the last half of paramedic school as a night tech in the ER near school. Added bonus, if you end up as a tech in the ER, you'll see some pretty rad shit.

    camo_sig2.png
    Bucketmanceres
  • PeJaePeJae Registered User regular
    Bucketman wrote: »
    Well right now I have no degree and only any real experience in retail management, so I'm looking at maybe getting 20k a year if I drop out. With nursing I can make very good money, the problem is I spent time dicking around and got myself into this situation. If I could go back and slap some sense into the me of 5 years ago, I would but I guess I have to live with it.

    I should have been more specific in my questions...

    1. What would your loan payment be a month if you dropped out right now?
    2. If you took on $30,000 of private loans where would that put your total payment?
    3. What is the median and low end starting nurse salaries in your area, or an area that you would be willing to move to for work?

    About working and going to school at the same time. If you are only able to make $20k a year without your degree and working full time then the cost of tuition would be all of your income, so working to pay for school doesn't seem to be an option. Its also worth pointing out that if you stop classes for a semester to figure the financial stuff out you might have to start paying back your loans unless you get a deferment. Having 50 grand in student debt but no degree can cause other problems too (outside of making you poor) like getting a car loan. Also,if you miss a payment you will be unlikely to find anyone willing to loan you more money to get back into school. If you can afford the private student loans that would seem to be the best bet.

  • BucketmanBucketman Call me SkraggRegistered User regular
    yeah I think the best best is to try to get private loans, as a nurse around here I could make around 55k-60k a year starting, and thats not including overtime which from what I understand usually happens.

    I guess now the only problem is actually getting private loans.

  • VeritasVRVeritasVR Registered User regular
    edited January 2014
    Mad Jazz wrote: »
    You could also look into getting a job as a tech at a local hospital. Doesn't pay great, but it doesn't require certs and they love hiring people in nursing school since it's a good way to recruit new employees. I put myself through the last half of paramedic school as a night tech in the ER near school. Added bonus, if you end up as a tech in the ER, you'll see some pretty rad shit.

    I did this while I was in engineering school. It was a great idea.

    VeritasVR on
    CoH_infantry.jpg
    Let 'em eat fucking pineapples!
  • BucketmanBucketman Call me SkraggRegistered User regular
    I looked at my local hospitals, most of the tech jobs require I have my next semester done first. But I did apply for a job at one working on their computers. Hey a foot in the door is a foot in the door

  • ceresceres When the last moon is cast over the last star of morning And the future has past without even a last desperate warningRegistered User, Moderator mod
    Apply anyway.

    And it seems like all is dying, and would leave the world to mourn
    bowenalltheoliveVeritasVRDevoutlyApathetic
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