Which path would you take to BSN? - page 3

I already have a BS (and MS, shhh, lots of $$'s shelled out and now a career change!) :nono: and want to be a nurse. I just completed a CNA course and I KNOW now that this is the right decision. ... Read More

  1. by   np_wannabe
    Quote from MBA2BRN
    No, you don't get it. It will not mean an increase in salary (despite promotional opportunities) if you take out too much loan debt. You will be as BROKE or worse off then your counterparts who work in other professions making less money.

    The bottom line is, debt = bad/BROKE/your money making money for others. No debt = money you earned that has the potential to make you more money.

    Have you ever met a broke nurse???? I have... plenty! I worked in Health Care for years before changing careers. Let me say this, you will probably be one of them since you do not understand how money (interest, debts, etc.) works.

    There was a post on here where a poster broke it down so well because he/she worked in the financial sector forever before changing careers. Anyway, that poster is also going the ADN then RN-BSN route despite having prior degrees. Why? He/She is smart with money.
    MBA2BRN~


    You have a great point. and I think that the key is taking out TOO MUCH debt. I would like to use myself as an example:

    I supported myself through a 2 year graduate program exclusively with student loans. As a result, I came out owing $40K and got my first job making $27K. (NOTE: I was only 22 when I started grad school. Hence, I did not have the wisdom nor the foresight of this decision at the time.) Eight years later, I am still re-paying this loan and am a full-time mom (so I don't make ANY money).

    Having learn the hard way, I have now planned out how I am going to pay for nursing school (an accelerated BSN) without student loans. (since I don't work, I won't have to replace my lost wages while in school by loans, so that helps too).

    I hope someone else can learn from my mistake.
    Last edit by np_wannabe on Oct 12, '06
  2. by   likatutata
    i've got a BA in international studies. i'm going through an ADN program, and then will pick away at the BSN after my ADN is done. once you have a bachelor's in something, you should be able to finish your BSN entirely online because of all the humanities and sciences you've likely got from your first bachelor's degree. anyway, after i finish the BSN, i'm eventually going for a MSN or PhD in global health. that won't be for a loooong while, though...
  3. by   CrazyPremed
    Um, MBA,

    Do you not realize that you aren't the only person who has taken out college loans and paid them back?


    No, you don't get it. It will not mean an increase in salary (despite promotional opportunities) if you take out too much loan debt. You will be as BROKE or worse off then your counterparts who work in other professions making less money.


    Actually, I do "get it." It depends upon how much a person takes out, and how much more they make. That's what I said in an earlier post.


    The bottom line is, debt = bad/BROKE/your money making money for others. No debt = money you earned that has the potential to make you more money.


    Actually, there is a term known as good debt. It's debt that allows a person to make more later on. In these parts we like to call it an investment. Unlike yourself, many of us will earn an increase in pay which will make becoming a nurse a good financial move. If a person took a paycut to become a nurse, like you will have to, or the future pay as a nurse wouldn't equal the cost of the education, then it wouldn't be a smart move. That's funny, I thought I said that once before. Hmm...


    Have you ever met a broke nurse???? I have... plenty! I worked in Health Care for years before changing careers.


    That's no surprise, I've worked in health care for years, also. I've met broke nurses, aides, Med Tech, managers, doctors, NP's, PA's, educators, nurse managers, and many others. I've also met many more who are doing well. Money management is usually the problem, not student loan debt. The federal government has some of the best loans/low interest/forgiveness/reduced payment programs around. But I'm sure you already know this.


    Have you ever met a broke nurse???? Let me say this, you will probably be one of them since you do not understand how money (interest, debts, etc.) works.


    It's funny that you know so much about my financial knowledge and experience! Oh yeah, I forgot, you know it all.

    MBA, it sounds as though you had a negative experience with the whole education, college loans, switching careers thing. Your advice is valuable because it can bring enlightenment to this whole question of which path a person should take. Fortunately, your experience - though common - is not the norm. If I were in your shoes, and in your area, I would be bitter, too. It's completely understandable.

    To the OP, I would recommend looking at the pay scales and hiring practices/work opportunities in your area. Also look at your long-term goals, your current situation, and try to make the best choice that you can. Take in as much advice as you can - with a grain of salt, of course - and continue to move forward. I wish you luck in your journey.

    CrazyPremed (and, I guess, future BROKE NURSE )
    Last edit by CrazyPremed on Oct 12, '06
  4. by   MEO82
    This information was taken from MarylandHealthCareers.org:

    "So, nurses today - particularly those with a bachelor of science degree in nursing (BSN) - are almost guaranteed jobs right out of college and can be assured of a secure career well into the future. "

    "The BSN gives you the most opportunity for advancement and the most flexibility of the three types of degrees and is required for those interested in a master's degree in nursing."

    Here is the link: http://www.marylandhealthcareers.org...t/nursing.html
  5. by   SummerGarden
    Quote from CrazyPremed
    Um, MBA,

    Actually, there is a term known as good debt.
    No, that is a term people who make money off of people like you use to get you to take out debt. They also like to use the term "leverage" so people like you take out more debt on top of the debt you already have and make them more money. I am honestly considering becoming one of those people who make money off of people like you since people like you justify taking out debts. The only thing I have to do is invest my money and sit back and wait for my dividends! :spin:

    Quote from CrazyPremed
    That's no surprise, I've worked in health care for years, also. I've met broke nurses, aides, Med Tech, managers, doctors, NP's, PA's, educators, nurse managers, and many others. I've also met many more who are doing well. Money management is usually the problem, not student loan debt.
    Part of money management includes debts. Student loan debt is looked down upon when one wants to purchase a car or a house by taking out a loan. There is no such thing as good debt when ALL DEBTS reduce your spending power, including student loans.

    Most rich people pay cash or they go without. And no, they did not all start off rich. They were middle class or poor people who learned to pay cash. There are many books on the topic.

    Yes, there are those that are the exceptions. They call themselves taking risks to leverage in order to make money. However, there are also those who play the lottery and gamble and win big too. As far as I am concerned, they all belong in the same category. Especially since most of those who take out debts lose money, lose life savings (or have none), Murphy moves into their home and they get sick and cannot work, and are broke and/or bankrupt today.

    It is not worth it. Too much wealth passes through our hands (those of us who work). I think it is absolutely insane when people have nothing to show for his/her hard work but to say they have made someone else rich.

    Quote from Crazy Premed
    MBA, it sounds as though you had a negative experience with the whole education, college loans, switching careers thing.
    Nope, not true. I switched careers from IT because I was no longer interested. I am enhancing my career in health care because I can AFFORD to do so. I am smarter with money, and not bitter as you have suggested, so I am also paying cash.

    Quote from CrazyPremed
    Your advice is valuable because it can bring enlightenment to this whole question of which path a person should take. Fortunately, your experience - though common - is not the norm.
    Again you are wrong... The average American has more student loan debt then they do Credit Cards. Credit card debts is about $8000-$9000 now. And Student loan debt is between $20,000-$40,000 on average.

    Quote from CrazyPremed
    CrazyPremed (and, I guess, future BROKE NURSE )
    Sadly, this is one of the only thing you got right. :spin: The other is about the feds and the military. Both offer good repayment programs but neither guarantee full payment.

    However, the average new grad is not trying to join the military or sign a contract with the feds. Many are under the misconception that there are plenty of reimbursement programs etc. that will pay off their loans or pay their tuition and this is not the case.

    Most reimbursement programs are a joke. Many will be lucky to receive $2000-$10000 in bonuses and reimbursement combined while trying to pay off or down $20,000-$60,000 of debt. All I have to say is, no thank you and good luck. :spin:
    Last edit by SummerGarden on Oct 12, '06
  6. by   Jules A
    Quote from MBA2BRN
    There is no such thing as good debt when ALL DEBTS reduce your spending power, including student loans.
    I agree that there is no such thing as good debt. It just cracks me up when people go the route of "well some people waste their money on jewelry or expensive cars", well by all means waste your money on something more self-righteous like not working and incurring extra debt while in school, lol. I could have lived off savings when I decided to go back to school but it didn't make sense to me to lose a year of income and spend my hard earned savings. As it was I was stressed enough about just cutting back on my work hours.

    Quote from MBA2BRN
    Most rich people pay cash or they go without. And no, they did not all start off rich. They were middle class or poor people who learned to pay cash. There are many books on the topic.
    There's a novel idea, only spend what you have!


    Quote from MBA2BRN
    The average American has more student loan debt then they do Credit Cards. Credit card debts is about $8000-$9000 now. And Student loan debt is between $20,000-$40,000 on average.
    Both of these figures blow my mind. I couldn't sleep at night. Like someone else said, and it may have been your MBA2BRN, $60,000 is only a decent salary if you don't have high bills.
  7. by   CrazyPremed
    Quote from MBA2BRN
    No, that is a term people who make money off of people like you use to get you to take out debt. They also like to use the term "leverage" so people like you take out more debt on top of the debt you already have and make them more money. I am honestly considering becoming one of those people who make money off of people like you since people like you justify taking out debts. The only thing I have to do is invest my money and sit back and wait for my dividends! :spin:
    MBA,

    It really sounds like you have me all figured out!! My plan was to take out tons in college loans to pay for my nursing degree, on top the thousands that I have from my undergraduate degree. Then, I plan on living beyond my means, and borrowing from my credit cards so I can live like a celebrity. Finally, when I realize that my $60,000 a year won't pay my expenses, I'll declare bankruptcy and send you an e-mail telling you that you were right all along!!!!

    The truth is, I'm not even close to this situation. If you must know, becoming a nurse - for me - will be a serious pay increase. Secondly, I don't plan to take out loans, I work for a company that will prepay all of my tuition expenses - a common practice where I live for nursing students. Third, drowning in credit card and student loan debt? Not me. My student loan calculation was a general example, not a personal one. (That's funny, for someone with so little financial knowledge, I'm going through nursing school for free. Hmm, that's even better than the "cash payment" program that you're on). So don't expect to put your kids through college on any interest coming from me; You ain't gonna get it, sista.

    Now, when it comes to many people in general - yes - many do take out more than they should. And, yes, many find themselves in more debt than they should be in. That's common sense and I'm not going to argue that. But, to think that none of us will actually financially profit from taking out loans for nursing school is ridiculous. You don't know everybody's financial situation. You don't even know mine. But - somehow - you have made pretty specific comments about what my financial future will be. If you assessed your future patients as fast as you've assessed me, you are headed for trouble.



    Alright folks, you've heard enough bickering for one thread. I'll be the adult, and get this back on track. To the OP, what have you decided to do?

    CrazyPremed
  8. by   AZmom
    Quote from CrazyPremed
    Actually, there is a term known as good debt. It's debt that allows a person to make more later on. In these parts we like to call it an investment.
    Quote from CrazyPremed
    That's no surprise, I've worked in health care for years, also. I've met broke nurses, aides, Med Tech, managers, doctors, NP's, PA's, educators, nurse managers, and many others. I've also met many more who are doing well. Money management is usually the problem, not student loan debt.
    Both true.

    I feel very fortunate to have at my disposal a husband who earns enough (barely, but we'll make it work) that we can pay cash for my education. I'm fortunate in that I won't have to work while attending school. I'm fortunate in that my community college of choice is reasonably priced and hasn't a ginormous waiting list to get in.

    Everyone is not as fortunate as I, and therefore their options are different. For many loans is the only reasonable way they CAN attend college. For many, going with a 4-year university with higher tuition is the best way they can hammer out a degree in a reasonable amount of time vs. spending years and years on a waiting list.

    Loans themselves aren't bad. Bad is not recognizing your ability and/or lacking the dedication to pay them back.
  9. by   CrazyPremed
    Hey MBA,

    Congrats on the acceptance!!!!!!

    CrazyPremed
  10. by   Kathyz
    I have the same issue. I just found out last week that I've been accepted to a 16 month accelerated program (I have a Master's). It would be great to get a BSN and be done. However, my son is a junior and this means I would be in school the rest of his junior year and all of his senior year. I'd be graduating when he'd be graduating. So why:
    1) shell out over $30k??
    2) kill myself studying??
    3) spend no time w/ my son before he's gone??

    I'm waiting to hear from my local community college to see if I've been accepted. If not, I will go to the BSN program. The community college's program is two full years (no summers) but the schedule is a few hours a day except twice a week when clinicals are five hours. I don't work so this seems like a breeze.

    Yes, I won't have a BSN but then I'll do the RN-BSN and hopefully my job will pay for it. I've already taken a lot of the BSN pre-reqs.

    Good luck on your decision.

    (I heard from my friend who was accepted into a 12 month accelerated program that I wasn't accepted into. About 2 weeks into it she wanted to quit. She's still in it but she's e-mailed me 3x since May and has no time for her kids, herself or even to work. She said if she could do it over she'd go and get an associate's degree.)

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