Hi all, how’s your journey to CRNA school going? Just wanted to share my current plan as far as loan repayment goes.
Yes, $287,345 is my current federal student loan balance. Just a reminder: That amount include some undergraduate loans (about $50K), my NP loans and CRNA school loans. Yeah, wish me luck.
My plan is to pay off my loans in OR before exactly 36 months (3 years) from July 2021. And yes, today I just made my first payment of $11K. How ? well, I signed up with an anesthesia group and they offered a sign-on bonus (40K–> way less after tax) as well as a tuition reimbursement. The tuition reimbursement amount offered by my employer is 60K. Therefore, I really have to pay a total of $227,245 in 36 months. I am super excited to pay it back? Why? Because I am a CRNA today because federal loans were made available to me. Therefore, I am super grateful to have loans… Sounds silly? yeah I know. Today I was able to use my sign-on bonus to pay off all my CREDIT CARDS ($14,000, whew, I don’t know how I racked up so much debt during school) and ALSO I made my initial payment of $11,000 today. I paid 1 out of 14 loans, it feels great 🙂 Therefore, my balance now is $276,345 minus the 60K from my employer = $216,345. For the next 36 months, I have to pay $6000 a month. Given my monthly income of $9000 ish. I am hoping I can stay disciplined enough to make it happen.
That first payment hurts!!! As much as I want to be financially independent, I gotta admit, I love to splurge. I drive a 2010 Nissan Maxima and I am hopeful that it’ll last another 36 months. Yeah, I am tempted to drive a 2021 Porsche, or TESLA… However, I will not buy a new car. I canceled my Netflix, Hulu, and all other unnecessary subscriptions. I have $5000 for an emergency funds, contribute 9% of my salary in my 401K.
I am hoping this goal is achievable.
Are you paying off your loans in an effort to achieve financial freedom?
Are you applying for HRSA loan repayment (I don’t qualify since I work for an anesthesia group and they are “for profit”)?
Let me know !
Drop a comment!
Student Registered Nurse Anesthetist 
Hi Linsay
Thank you for sharing everything and being so open to help others on their journey. I am a FNP interested in CRNA. I have several questions but the most pressing is you mentioned your salary is $9000 ish per month is that your net salary. I would be a bit hesitant to leave my NP job to become a CRNA if I’m bringing home $9000ish a month which is very close to my NP salary. Can you shed some more light on this? Is that minus the payments you are making on your student loans? Thank you
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Thank you for reaching out. I make about 198K which before tax is about 15K a month. When I posted that last post about $9000 a month, I put it as my net pay after 15% to my 401K , health insurance deductions, and 28% federal tax bracket. This is calculated with a 40hr work week with 0 overtime. Now if after all your deductions and 401k contributions your pay is 9K yeah I’d say it’s not worth it. In addition, some CRNAs do a 24hr call shift and 2- 8hr shifts, that’s just 3 days of work making 200K ( 24-hr shift is paid @ 145/hr) I signed up for a full time with benefits position but there always many opportunities to make way more. After I get married and my spouse gives me health benefits, I will probably opt for locum tenens status in my area which is about 150/hr full time (about 300K) with the 3-12s option. Hope that helps! Thanks for reaching out.
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