Nursing is the most expensive college program I have completed. My degree was completed at a community college where the tuition was not the problem, it was everything else. The road to receiving my licensure was expensive. The massive pile of books that was required, the extensive collection of books recommended by the program and other students, and clinical items such as a stethoscope, and scrubs. Then when I thought I was done, my course had a mandatory nurses conference which we all had to pay for our entry. When I got close to the end of the program; about to graduate the cap and gown cost money, the white scrubs that will never be worn again for pinning, and the pin all came out of the students pocket. Finally, the last exam, I somehow made it through the stress and agony of nursing school, somehow pulling money out of thin air, but wait then there’s the NCLEX preferably with one or two prep-courses and the license itself.
My program had a low tuition cost but made up for it with everything itemized and purchased from the student. Many courses will pick up the expense of many of these items. My sister`s LPN program included all books and supplies, but tuition wise cost her about six-times more. I thought that was a brilliant way to not only get the money worth for the program but to make sure the students utilized everything. Although I had to keep coming up with cash throughout the program, my sister is now paying for her plan in monthly student loan payments.
#1 Reduce unnecessary bills
Before being accepted into a program, I knew I would not be able to work as much as I had prior. I sat up one night and listed out all my bills and expenses. I prioritized my spending. The first to go was my gym membership. I would become motivated, get on a good exercise schedule and then find a reason to stop going to the gym. It would take me months to find the motivation to go again. At the time I had an iPhone 3, on a large-carrier network. My monthly bills were $150. That bill got switched out for one of the track phone carriers that you pay month by month. I had all the advantages of a smartphone; service wasn’t as excellent as the better-known carrier but good enough since I was spending one-third of the monthly price. At this time I made action plans for the rest of my bills. My car loan was almost paid, so that would be off my list. My other student loans would go into deferment as soon as I was a part-time student. My credit cards, I started with the lowest amounts and paid more towards them. The method allowed me to pay off some bills each month, leaving me with my bare essential bills.
#2 Save, Save, Save
My finances at this time were “paycheck to paycheck.” If something broke on my car, I would either ask mommy or daddy for help or not pay a bill. My full-time job at the time was able to pay the minimum amounts due on rent and my monthly bills. My part-time job aided in paying off a particular bill each month. I saved where I could. I pay extra in taxes each paycheck, for two reasons. One, I never want to owe the government at the end of the year. Two, it’s like I’m paying for a bonus check each year. The tax return was placed right into my savings account the tax season before starting school. If I received any monetary gifts from family for Christmas or birthday, it was put directly into savings.
#3 Only take out what you need for loans
Here is something you need to understand about student loans, you need to pay them back. I took out barely enough to cover tuition and planned on my tax return and whatever else that I saved. I highly suggest scholarships. There are websites dedicated to scholarships and grants. If you’re part of a professional organization look into scholarships they offer. Some employers will also provide scholarships. If you already work are at health care facility, find out if they offer a tuition reimbursement program. Some institutions will pay you after the semester based on grades. Many of my friends from high school had overextended themselves loan wise. The job market is not great, and the degree they received was not worth the money. It’s impressive to see how many people work retail with a bachelor’s degree from private or ivy-league schools.
The more prepared you are financially for school, the more comfortable the experience of nursing school will be. Each semester, I was given surprise expenses to pay for but found the money, my anxiety fell to the academic side of the school. I knew several people, who passed the first semester but didn’t continue because they couldn’t work and handle school