I am currently 40, married, mother of two, working full time, and doing my prerequisite courses at a local community college. If all goes as planned, I will apply to their RN program a year from now. I understand I will not be able to work once in nursing school, at least not at my current job, or full time. I also currently hold the health insurance on my family, as hubby is self-employed.My question is - how do you go about financially supporting yourself and getting health insurance during the 2 years of nursing school?
I know once I quit my job, my kids will qualify for my state's medicaid program, so it's really hubby and myself I need to get insured. We are both fairly healthy, don't require too many dr. visits a year, other than the yearly check up stuff, and possibly a sinus infection or step kind of thing. We've bought insurance directly before through BC/BS, at roughly $360 a month, with a $2500 deductible (each), but without my income, that is a large expense. I'm wondering if there are cheaper alternatives out there? Since we are ultimately paying "cash" for doctor visits with a deductible of $2500, I feel like I'm just throwing away that money each month on "what if". Is there a catastrophic insurance policy or something you can buy to cover something like an accident, cancer, etc., then we just pay cash for doctor visits and prescriptions for those 2 years?
Also, being an "older" student, and not a minority, where can I begin to look for loans, scholarships, grants, etc. to help fund my schooling that I will actually qualify for? I guess once I quit my job, we would be considered low income for a family of four, so that may qualify me for something? Should I consider looking into private loans before I quit my job? I know with all us older adults going into second careers, there has to be somebody out there who has "been there done that" that can give me some direction on where to begin to look for financial help for the upcoming 2 years of nursing school.
I have read that after your first semester, some hospitals will hire you as a tech or assistant of some kind. What does that really pay? Does it come with any kind of benefits (health insurance, tuition reimbursement, etc.) to make it worth my time to drive back and forth to work? I live in a rural area, and big cities are 45 minutes and 90 minutes from my home, so gas cost is a big consideration at that point.
I also understand especially in the rural areas such as where I live that the state will pay off your loans if you work in a rural hospital for two years. Anybody done that or have information on that? If the hospital is like the one in my little town, I'm not sure it would be worth doing, as I've heard horror stories of staff not showing up, poor management, etc.
Any ideas, suggestions, or opinions?
Thanks so much for anything you can bring to my attention!
Mrs. C
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March 19th, 2008 at 2:37 pm
Mrs. C your question is a difficult one. First, talk to a school advisor if you have not done so regarding scholarships/loans/etc. and see if the school has discount health insurance for older students.
Johnson & Johnson has a search engine on their site for Nursing Scholarships – http://www.discovernursing.com/scholarship-search.
Best of Luck and pleaseeeeeeeeeeeeeee keep thinking of options before you give up your health insurance.
March 25th, 2008 at 11:29 am
Thanks, I will definitely sit down with my advisor. I still have a year to go before even applying to nursing school, so I’ve got time to figure this out.
I will in no way go without insurance, that was not my plan, I was just wondering about other options. There are so many going to nursing school as a second career that I was hoping for any kind of input as to how people juggled the health insurance and financing of their education. I think many use their spouse’s insurance while they go to school, I just happen to have a hubby who is self-employed, which puts a kink in that option. Somebody else mentioned to me that my school may offer health insurance at a discounted rate, but I’m not sure if that covers just the student, or their family as well. One more question to ask the advisor next month when I register for summer and fall classes!
Thanks for your reply, I was beginning to wonder if anyone was reading this section.
March 25th, 2008 at 3:20 pm
I wish you luck Mrs. C. I am sure you will find a solution.
March 25th, 2008 at 3:25 pm
I just thought of something…..your state may have a student nurse association……..you might check with them.
March 27th, 2008 at 1:03 am
Most nursing programs make you have health insurance while in school. There are a few programs I would look into. Like Dianej suggested, the National Student Nursing Association is affliliated with a health insurance group (http://www.nsna.org/membership/memberbenefits.asp)
Also many universities have health insurance programs they are partnered with which you can sign up for as a full time student. Such as Academic Healthcare Plans (https://www.academichealthplans.com/schools.asp) see if your school has a program with them, they are inexpensive.
Hope this helps!
March 27th, 2008 at 1:32 am
Also,
I believe this is the website you need to look at for the loan repayment plan… You are not guaranteed this money… it is by need and how many people apply etc.
Good Luck!
http://bhpr.hrsa.gov/nursing/loanrepay.htm
April 4th, 2008 at 2:50 pm
Thanks so much for the feedback! I had not thought of organizations such as NSNA having health insurance offerings, I will check that out.
I looked up the other link, and my school does not participate in the academic health plans. It’s just a small rural community college. I will find something for sure, I just wanted to ask here and see what else you all could come up with for ideas.
Thanks very much!
April 7th, 2008 at 12:40 am
I’m not sure about the insurance, but many hospitals have grant programs or loan repayment programs. Usually they just require that you work for the hospital for a certain amount of time for the grant programs. Try doing a search of hospitals in your area and look for student nurse information. You can find out which hospitals have intern/extern programs as well as loan or grant programs:-)
May 26th, 2008 at 8:29 am
Don’t be afraid to get any kind of student loans for nursing. And if you live near an underserved area I am sure they will offer sign-on bonuses that would help repay those loans. Also, many places will offer loan repayment for a specific amount if you work for like two years or even three. At least you’ll be working right? My sister did that…and it was an easy way out of her loans…with no probs.
I HAVE to make a comment about commuting. I just got accepted into nursing school and decided to trade in my gas guzzlin 8 cylinder truck for a tiny Kia Rio. The mileage has doubled. It’s a 2007. I think you should consider doing the same because the cost seems to just be getting higher.