Is 90k in loans worth my BSN?

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Hello!

My question here today is; am I crazy for considering taking out a 90k loan to get my BSN in 2.5 years?

Here's a little more info:

I have been attending cc since 2011, in CA and WA. I also got my CNA which was awesome, it really made me realize nursing is my passion. At this point I've been in school for 5 YEARS! Granted I took some breaks, I had my daughter in 2014 and moved twice due to husband's Army service. At this point I need Anatomy 1 & 2, MicroBio and Chem 100 done to be able to apply for all the ASN programs around me.

That will take me 2 semesters at the least granted I get into the classes first try.

other things to consider:

I'm taking this coming year off from school to have my first baby boy! (I know, I'm crazy) My husband works full time and is able to support us with his income but another income would allow us to do more than just "get by". So if I decided to do it I would start Fall 2017. Since my husband is going to continue to work I'm trying to decide if the 1000$ monthly loan repayment would be worth it for us to have me at work sooner.

I am so ready to be an RN! What are your thoughts?

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Not worth it.

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Specializes in OR, Nursing Professional Development.

Don't do it! The payment of those loans plus interest will be like have a freaking mortgage payment! Never take out more in student loans than you can expect to make in a year on the job. Also be sure to figure out what those loan payments will be, then add them in on top of your current obligations. How likely will it be that you can pay them, especially if you are one of the many new grads who aren't offered a job for several months?

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Specializes in PACU.

In short, it is most definitely not worth it. The interest alone will kill you on a loan like that. You won't be paying just $90K, it will probably be WELL over $115K once said an done (a mortgage payment).

I would recommend that you read this thread: https://allnurses.com/general-nursing-student/is-an-accelerated-1055351.html. It has a lot of good information.

What program is this that it's $90k?

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Specializes in Psychiatric Nursing.

No.. Find a community college. Get your ADN. Then consider options for BSN.

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I agree with everyone here. I never understood why people throw themselves into debt for a degree you can get a community college and start in the workforce at about the same salary as a BSN. If you want your BSN fine, look for an employer that will pay for it. Even if you have to pay out of pocket from my understanding the bridge program is mostly all online and hence cheaper. Is there something that I am not aware? Is the bridge program kind of the GED of nursing or something? I am not trying to offend anyone; I intend on doing the bridge program. I just don't know why anyone would pay 100,000 for an education you can get for under 10,000 (that is what my education at the community college I go to will cost).

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am I crazy for considering taking out a 90k loan to get my BSN

Yes.

Why would you take out 90k in loans when you can get an ASN and bridge for generally less than 20k?

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Specializes in Emergency/Trauma/LDRP/Ortho ASC.

Got my ADN and BSN for about $15,000 in total. That was only a few years ago. You don't have to spend $90 grand on a nursing degree!

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Specializes in retired LTC.

DON'T !!!

You'll be sorry!

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I wish I could have quit my full time job to attend a cheaper ADN program. But being in my 40s with a mortgage and a kid to support does not give you a choice. I chose the only RN program that had a night weekend option and it happened to be BSN. It cost $32 K and I regret it, as it took me 2 years to find that first nursing job. And being a nurse isn't all that I thought it would be, at least in the hospital. I regret the career change sometimes. DO NOT go into that much debt to be a nurse.

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Math:

The average student loan takes twenty years to pay off at a 6% interest rate.

Your BSN will be paid off in the year 2040. With interest, you will have paid $160,000.

Do NOT pay $90,000 for a BSN. There are many many more affordable routes out there.

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Specializes in NICU, ICU, PICU, Academia.

OP: I hope you heed the excellent advice you've been given here.

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