Repayment Of Nursing Student Loans

Written by Mark Sanfilippo
Bookmark and Share

Nursing is a rigorous often dangerous job that requires a certain unalterable type of resolve. The hours can be unwieldy and the chores can be less than glamorous, but it's safe to say that there is hardly a more necessary ingredient than trained nurses for a well run hospital. Before you become a nurse, however, you have to go to school.

It used to be that doctors were the primary student loan debt holders, but that's just not the case anymore. There are a number of nursing students who have at least half or more of their tuition covered by a nursing school loan. These loans, like most student loans, generally have a low interest rate. The fact remains though, that despite this low interest rate, nursing school loans can be substantial.

Oftentimes, nursing students will have to take out several loans in order to fully cover their tuition expenses. This can make for an unnecessarily confusing loan repayment schedule when the grace period ends. There can also be a great deal of difference in the interest rates between the various loans, making some loans more expensive than others.

You Can Consolidate Nursing School Loans

Like normal student loans, you can consolidate nursing school loans into one large loan. This serves to equalize the various interest rates and can give you more flexibility with repayment options. Oftentimes nurses choose to add to their degree, or go further with their nursing education. Some of these consolidation programs allow you to go into deferment if you return to school at least half time. This can be a great way to increase your viability in the workplace without risking going into default.


Bookmark and Share