I am in the process of applying to go to nursing school. I already have a B.S. and M.A. and over $100k in student loan debt unfortunately. However, I've always thought about being a nurse and decided to finally take the plunge. The biggest/scariest thing has been trying to do the best I can at prepping to be in school and decide if it is even financially appropriate to go. I currently pay the minimum on my student loans and am on track for Public Service Student Loan Forgiveness through my current field (over 2 years of payments in woohoo). So I try not to let that debt cripple my existence. On the other hand, I have been working towards paying off credit card debt over the last year and I think between what I already had and times when I needed to make big purchases, I think I have paid off about $10-$15k in credit card debt through no-interest credit card periods. I have about $8k left to pay off and it is current split on two different no-interest period credit cards. My dilemma is I also want to save at least $20k over the next year to make 100% sure I have rent covered for the 2 years of nursing school. However, i'm of course underpaid and money is tight. I could stretch to save $800 (would only be half of what I should save) a month..maybe, but only if I stopped focusing on my credit cards. Should I focus on piling as much money as I can into the credit card for the next 6 months or so, saving only a little (maybe $300) for school then more after the smallest credit card ($2,800) is paid off or pay less on my credit card and just focus on piling in as much savings as I can while paying just a little to my credit card ($100 or <)? I also have a credit card with $4,800 but I'm using the snowball effect to pay off the smallest first.
Submitted September 04, 2018 at 10:35AM by leilei1486 https://ift.tt/2CifN9J
