Time to go back to school...opinions please

**alarosalpn** · 11-16-2010, 09:39 AM

background...

Since I was little I wanted to be a nurse...In 1997 I went to school and became a CNA...In 2002 I was in the right job at the right time and they started a pilot program for anyone in the facility(nursing home) the company would pay for you to go to LPN school...I was one of the lucky ones...I've been an LPN since 1/2004...
I need to go back for my RN...
I love my job.. But being an LPN is looking like a dead end job...We are very limited to where we can work....

I have reached a point were I need to go back to school to acheive my goal of RN...

Heres the issue...
I have bad credit and cant afford to pay oop...I make too much money to qualify for financial aid...

I've been hearing that Sally Mae will give anyone a student loan adn you dotn start paying back until 6 months after you graduate...

What do I do?

**Momto5RN** · 11-16-2010, 02:51 PM

well # 1 what you hear about sallie mae isnt true... at least not anymore

my son with no bad credit needed us to cosign his last years loan for the 2009 2010 school year and even though we have great credit he still had to pay interest on it each month . he pays the main part of the loan in 6 months after graduating .

his previous loans were for no payment until 6 months after graduation.

the stafford loans almost anyone can get and you dont have to pay back until you graduate but they are not a big loan . may be enough for a community college without covering books

**Momto5RN** · 11-16-2010, 02:56 PM

and at your age with kids etc i wouldnt tke out loans - i would do one course at a time paying out of pocket as long as i could until i needed to do more.

i would look for the place you would be getting your RN BSN from and speak to their admissions office and see what they say .

does your current employer have any type of program for schooling - sometimes they will pay 50% of tuition after you get a B or higher if you promise to stay at your current facility for a certain amt of time after you graduate.

i know the nursing school i went to ( way back when LOL ) had 3 full scholarships they gave out each year for woman in their 30s starting a new career

**alarosalpn** · 11-16-2010, 03:13 PM

my employer doesnt offer any type of reimbursement..
I dont have any extra in my income to pay even for books...

guess I'm stuck...
Dont get me wrong,I'm thankful that I'm a LPN...just feel stuck...

**Nishu** · 11-16-2010, 04:18 PM

What's the deal with your bad credit? Are you caught up on all your bills and able to make ends meet month to month? I'm wondering if you're viewing your financial situation as a problem with income rather than a problem with behavior.

I understand that you feel stuck, most people feel that way from time to time, but it's actually a lot easier to get ahead by cutting your expenses than by increasing your income. Plus, the payout is immediate. Another degree may or may not pay off in the long run.

I'm not saying that you shouldn't do it because I don't know your situation. If you've done what you can and still aren't able to get ahead, then it might benefit you to go back to school. If it's possible that money management is the problem, then you're only going to make the problem worse by going back to school because you'll have student loan debt and possibly more available credit to screw yourself.

Good luck!

**alarosalpn** · 11-16-2010, 04:37 PM

Nishu, my wanting/needing to go back to school has nothing to do with my finances and wanting to make more money...
More simply the need/want to get out of a dead end job and reach my goal of being an RN...
Yes,I have bad credit...Yes,I made poor decisions in the past,even occasionally now....But I take every stride to live within my means...
Again, I'm looking for the higher degree for more opportunities in the nursing field..the higher income is just something that comes with the higher degree...
to answer your other question...I do still have debt that I'm paying off...
Bad credit doesnt happen overnight and neither does fixing it...but I'm working on that...
Guess I'll have to put off school for another few years..

**Nishu** · 11-16-2010, 07:11 PM

I'm not telling you that you should get a loan, but I want to make sure that you're getting good information here.

A subsidized stafford loan is determined by need. They don't accrue interest while you're in school. If you make too much to qualify for a grant, you still might be able to qualify for one of these. Interest does not accrue while you're in school.

Subsidized Stafford Loan < Information | StaffordLoan.com

An unsubsidized loan is not determined by need. The interest rate is higher, but you still do not have to make payments until you're out of school. Interest does accrue while you're in school.

Unsubsidized Stafford Loan < Information | StaffordLoan.com

A lot of people have a mix of the two. Neither one of these loans require credit.

I don't know about an RN program, can you get it at a community college? The 12k a year limit will easily cover you for community college with enough left over for books.