How much debt is reasonable for NP school? - Page 2Register Today!
- Apr 29, '11 by traumaRUsI looked at what my return on my investment would be:
I made x-amt as an RN
What would I make as an APN?
How soon could I pay back my loan?
- Apr 29, '11 by Boonce1Oh my gosh just realized how much I owe in loans. Ok I started out as a LPN then went to rn then BSN now working on my master about half way done with it currently owing about 32 tho. and by the time I am all the way done I will owe 42 tho. Did not realize I had that much in loans. So I , am thinking about paying on my intrest before I am completly finished. Hopefully this will help. I was only planning on getting at the most 20 to 30 tho in loans. But in the end I hope it will be worth it.
- May 9, '11 by iridium54Quote from junipersI am currently mulling over a similar issue, though I actually only applied to ABSN programs because I wasn't able to take the GREs in time. The program I am left with entrance to, by default, is going to cost me probably $45k in loans. And I am 99.9% certain I want to continue on with my education to become and advance practice nurse (probably ALSO a CNM/WHNP) AND I want to get either an MPH or an MBA so I can help run a health care organization. Sooo, that's a lot more school. I owe less than $5,000 now for my first undegrad degree, which is great, but taking on this significant expense for BSN-hood is frightening me. I am also in a hurry to just get it done, because a career and family is on my mind. $45,000 is *hopefully* less than my starting salary, but it's still a lot of money.It is a lot, no question. I could do the second half of the program part-time while working as an RN, and I may well do that.
For nurse-midwifery, there are many fewer masters entry programs than other specialities and most of them leave you with over $100,000 of debt. It is important to me to become a midwife and be established in a practice before starting my own family, and since I am in my late twenties, I feel that time is a definite factor. I could be a midwife in three years, but with substantial student loans - or I could apply to accelerated BSN programs for next year and work for a couple of years as a nurse before applying to midwifery programs, becoming a midwife in 5-6 years but with half the debt.
Either way, I have the possibility of halving the debt in three years (either working as a midwife in an underserved area for that time, or becoming a midwife the traditional route and only taking on half the debt). Since I am more interested in practising as a CNM than an RN, perhaps the (ridiculously) expensive program is not such a bad idea?
Edit: My estimate of $115,000 includes living expenses
It is a difficult decision and I appreciate everyone's comments!
I know for the undergrad, the HRSA repayment program is highly competitive and you are only eleigible if your Expected Family Contribution is 0. Mine is not zero, though not much more since i am supporting myself and can probably only afford to pay for books and uniforms out of pocket. Regardless, that is not an option for me. Hopefully they are easier to come by for graduate students.
Have you applied and been admitted to any direct-entry CNM programs?
- May 17, '11 by vanurse07Quote from iridium54There are several HRSA programs and I'm not sure which one you are referring to here but the HRSA NHSC loan repayment program (for primary care providers) does not require you to have a EFC of 0. There is also a NHSC scholarship program which I have not looked into extensively but I doubt that one requires an EFC of 0 either.I know for the undergrad, the HRSA repayment program is highly competitive and you are only eleigible if your Expected Family Contribution is 0.
To add to this post, I agree $115k is a whole lot for the RN/NP portion, especially if you are looking to do more schooling. I did a MPH program (like you want to do) at one of the most expensive (but best!!) schools so if you're looking to add more education you may want to also factor in those costs which will probably add at least another $30k onto that. Because of this, I am now purposely choosing NP schools that will leave me with less debt than the MPH has.
- May 25, '11 by juschillinMy BSN was via big city private school...about 70k; then small city public for MSN...another 40k. One tough lesson I learned was GO PUBLIC for BSN and MSN. And by the way, both of my programs were "accelerated". Many public school programs really are excellent, especially the undergrad as so much of it's technical...
- May 25, '11 by NAURNFrontier (I estimated) will cost about $30-35K total with books and technology. There are cheaper options for me, including a state school I can go to for about $18K one I get in the graduate work but I would have to get my BSN first (I am planning an ADN-FNP at Frontier) and in order to get my BSN I would need to take about a years worth of general education courses because they were not required for my Associate's in Applied Science degree I got. So add that all together and I am well over the $30K Frontier is. And I save so much TIME doing the bridge... plus save some gas (although there are a couple of campus visits) and save some lost income from having to be sure not to work on certain days my classes are...
I looked at Emory- OMG.... its $50K A YEAR!!!!! I know they have a good name and all but man, the cost plus the hour drive every day is not something I am willing to do!
I think there are ways to get a quality education from a highly regarded school without taking on so much debt. Just takes a lot of research.