Quote from ginaw623
Hi everybody, I am having a difficult time making a decision. I have a previous Bachelor's Degree with student loan debt balance about 65K after all the interest. I am set on going back for nursing...but I am very uneasy about accruing more debt. I want to do this accelerated 12 month BSN in my area...but it would probably put me up to close to 90K in debt! The good thing about that is it is quick, I would have the BSN, and I could get to working and making income. Then I would want to have my employer pay for my NP (which is probably my ultimate goal). I am also trying to get into one of the local community college ADN programs because it would be sooooooo much cheaper and I could later get the BSN online through a bridge program maybe paid by my employer. The problem is community colleges have long wait lists and they would take 2 years once in. So I do not know if I would benefit more just going for that ABSN and working sooner or do MORE waiting as usual and try for the ADN eventually. How are all you RNs doing paying student loans? Am I crazy for getting into this much debt? HELP!
I graduated with about $90k in debt from my BSN program 5 years ago. I am not having a problem paying them (and many of my loans have been paid off in full) but I also graduated 5 years ago, when the market was very different for nurses.
I think the ABSN is probably your best bet, as hospitals today are dead set on hiring BSN prepared RNs. I would, however, make sure you research this thoroughly. The job market is tough
right now for new grads and I wouldn't count on "getting to working and making income" right away. Some of the new grads who were recently hired on my former unit graduated last May and only now found jobs in either January or April. And the grace period for student loans is typically only 6 months (if any) so that means if they had loans, they'd have been required to start paying them in November with no income.
I also wouldn't count on the fact that your employer will pay for your future schooling. Many hospitals have cut benefits significantly in the past few years and programs like tuition reimbursement will surely be cut/eliminated before benefits like health insurance.