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Paying off loans, need advice

Posted by on Jul. 28, 2009 at 4:43 PM
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  I recently went to Four D college and spoke to a counselor. I was so excited to find out I got a grant and a loan. What excited me even more was that it's a Christian-based college. Then I went to the financial department and found out I would have to pay $214 a month during school. I left there crying becuase there is no way I can afford any  payments DURING school. I have yet to visit another vocational school.  My husband brought up a great point. School would cost over $30,000. Paying back the loan may just be impossible for me a t first. His point was; how would I afford to pay back loans and still be able to pay for our living expenses. We have a mortgage of a little over $1000. How much are you paying each month toward your loans? Should I wait until we are better off financially to enroll? Or should I go to the local college and take more time to finish. I really want to go to a vocational school so I can skip all the general ed classes. However, if I go to the local college, I may be able to afford it better. Any advice is welcomed and appreciated. Thanks

Leslie

by on Jul. 28, 2009 at 4:43 PM
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kristi95
by on Jul. 29, 2009 at 6:55 AM

If you wait until you are better off you may not qualify for your grants.  It's a tough call but you should definately look at more schools because you don't always have to pay before you graduate.  When I graduate with my ADN-RN, I plan to go back and get my BSN so I'll probably owe around $30,000 because I am not eligible for grants, it will likely be about $270 month for 10 years at the highest cap interest rate.  However my salary will increase to almost double what it was as a medical assistant.

On a side note most of the general ed that I had to do like psychology and sociology are pretty important to nursing and understanding patient populations and all of the developmental theories and stages.

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