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Financial Aid. Always fun.
Bucketman
Call meSkraggRegistered User regular
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.
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.
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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.
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.
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.)
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.
I guess now the only problem is actually getting private loans.
I did this while I was in engineering school. It was a great idea.
Let 'em eat fucking pineapples!