student loans

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    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!
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  3. 9 Comments so far...

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    can you get scholarships by any chance? that might help you out
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    Woops sorry somehow posted 2x~
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    Hey, I am a second degree student as well with massive student loan debts. I checked into a bunch of programs in my area and I decided to go the ADN route, although I don't know if they offer the accelerated BSN in my area, I looked into a B.A. to a Masters in Nursing accelerated program but since I have a young family that program just did not work for me (plus it was extremely difficult to get in). Honestly it is a very personal decision. I would look at it as can my wage as  nurse cover my student loans in the time difference it would take to get the BSN vrs the community college route. That of course is considering that you will get a job right out of school and that you can get into the school you want without a problem. If you don't have kids, working in nursing school is a very realistic thing (at least in a two year program). Heck some people with kids work almost full time in my program. I don't know how they do it! So if you took the community college route you could always continue to work as you got your degree. I personally was just too nervous to take any more loans out since I have a family and I have been paying cash semester by semester for my schooling. Anyway good luck to you in your decision!! That is not an easy choice to make.

    Also Pneumothorax to answer your question I have found it incredibly difficult to get any scholarships as a second degree student.
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    Quote from lukeslichy

    Also Pneumothorax to answer your question I have found it incredibly difficult to get any scholarships as a second degree student.
    This is true. I forgot how hard it really is =\
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    I would just go for the BSN if you want to become a NP. Getting your ADN would leave you an extra step (the BSN) that you might as well tackle right now. 90k is a lot, but a good number of BSN prepared nurses I know have about the same amount of debt.
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    It really depends on if hospitals are still hiring ADNs. You might want to keep this in mind. I am a second degree student and also very financially cautious, I did not want to acquire too much more student loan debt. I really only started out at 10K, but I don't like debt. I'll probably end up with 30K after finishing this ADN. Also, you will NOT be working during this 12 month BSN, right? If not, I could kind of see the justification in borrowing more money, but if that extra $35,000 is just for tuition only and you still have to work, that's going to be tough. I didn't know employers paid for NPs.

    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!
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    Have you looked into the Nursing Scholarship Program? If you are sure you want to be a nurse, then it couldn't hurt. Although I know nursing is what I want to do, I'm not applying this year because I don't want have myself hating nursing school / nursing and then have to work 2 years as a nurse to fulfill my obligation.
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    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.
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    ADN all the way. I have a BA, went back to school and my degree costed $10,000. The comment by phgnurse527 is actuall incorrect. You can go straight into a master's program with an ADN and a BA. You may have to take a few extra courses in community nursing, but that's it. You absolutely do not need a BSN to get you NP. Good luck


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