I'm a nursing student working towards a degree as an RN. I've heard that most hospitals and other places will pay back student loans for nurses.....it's called "loan forgiveness." Is this true?? Should i worry about taking out too much for student loans?
2007-05-23 02:23:24 · 13 answers · asked by smalls 2 in Education & Reference ➔ Financial Aid
Student loans will affect your future financial situation immensely so pay attention when you apply for them. I would research student loan forgiveness programs before you make the decision. Ultimately, if you don't have the money to pay for school, and don't have grants or scholarships, then you don't have a choice. There are lots of programs that offer student loan forgiveness as an incentive, but they are usually jobs that are unappealling. (hence the need for an incentive) This could mean that it's in an extremely impoverished area, or extremely remote. It could also mean that it is for a particularly hard to fill position. The peace corps, military, and other government programs offers ome loan forgiveness as well, but again, it might not be the right choice for you. Do your homework before you plan on taking that route. Also, in today's student loan world, make sure you investigate your lending options before you sign on the dotted line. There have been some shady goings on between lenders and schools lately. Hope that helps.
2007-05-23 02:30:31 · answer #1 · answered by georgiabirdgirl 3 · 1⤊ 1⤋
Check with your state. My state of Pennsylvania offers loan forgivness for people who go to school for nursing. I have heard of that a lot lately. Many states are offering this to encourage people to go into that field so that there will not be a shortage of these professionals later. I searched the web under "loan forgivness for nursing" and I found quite a lot. I do agree with the other posters though, don't take out the loans if you don't think that you can repay. Make sure you can get the forgivness first, then apply for the loans. Good luck!!!
2007-05-23 07:50:01 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Don't take out too much for loans. If conditions change in the nursing industry, or if you're wrong about most hospitals paying student loans, or if you decide after graduation to work in a different field, you'll be glad you don't have the debt burden. Owing money is a form of enslavement. Stay away from it if at all possible.
2007-05-23 02:28:09 · answer #3 · answered by Renegade_X 3 · 1⤊ 1⤋
I am in the same boat as you. I am attending school for my masters and will be in debt 60,000 if not more, when I am fininshed. But without this degree, I can not get a good job in social work. Without your RN, you cant be a nurse in a hospital. Its tough, but what are your other options? Dont do it and then what? Where will you be in 10 yeras if you dont? I know how scary it is! You might try to find the cheapest school possible to attend and that way you wont owe as much in the end. Your salary will be the same no matter where you graduate from. It sounds like you are very commited, so I say do it- because without your degree the world will be short a good nurse!
2007-05-23 02:33:05 · answer #4 · answered by deels 2 · 0⤊ 1⤋
Yes pay it all off. RE: Paying off student loan? I have a $13K student loan, I have saved about $22K in savings. I am thinking about paying OFF the loan. I make about $55K per year and my student loan is the only debt I have. Is that a good idea? Should I pay half and save some? Thank you
2016-05-20 22:16:43 · answer #5 · answered by holly 3 · 0⤊ 0⤋
Certain types of loans offer forgiveness provisions for people who become nurses in shortage areas. Perkins is one of them. I believe Direct Loans do as well. For more information check with your lender and ask specifically about forgiveness provisions for nurses.
2007-05-23 03:16:23 · answer #6 · answered by Jdub 4 · 0⤊ 1⤋
ahh those dreaded student loans....they seem like the most wonderfull thing to do untill you have to pay them back.Some places do offer {loan forgiveness} it's just something you need to talk to your administrator about.
Let me inform you about one little thing if you value your yearly income tax return (getting that nice check back to go buy anything you want).then you better make your monthly payments to the loan company because UNCLE SAM WILL TAKE THAT NICE LITTLE TAX REFUND QUICK FAST AND IN A HURRY!
2007-05-23 02:35:03 · answer #7 · answered by itsme 3 · 1⤊ 1⤋
Never take out a loan you are not sure you can pay back. The loan will be in YOUR name and situations can change.
2007-05-23 02:26:51 · answer #8 · answered by lunatic 7 · 2⤊ 1⤋
I don't know about a hospital repaying your loan, (and if they do, there has to be a catch), but if you don't repay your loans voluntarily, the government will just take it out of your check and you will never see a tax refund until it's paid off.
2007-05-23 03:12:38 · answer #9 · answered by Anonymous · 1⤊ 1⤋
some do, but I'd check with the hospitals in your area to make sure. if you're getting into nursing and you complete the program, you should be good to go - there's quite a shortage of licensed nurses in the country.
2007-05-23 02:26:33 · answer #10 · answered by wigginsray 7 · 0⤊ 1⤋