ABSN vs entry level masters? Which is better buy?

[nurse2bnoob101]

I have a bachelors in biology already. I am debating on couple of programs and was wondering what would be better. Now my main interests would be to become a nurse practitioner so I was wondering what would be the best path to achieve that. Taking time and money into consideration.

ABSN program would be one year and a half and I could be a working nurse. I figure I can work a couple of years then apply to NP school. Now I already have a bachelors degree already so I feel like my previous degree was a waste of money.

There is this program that I am considering. I will post up the information and I want you guys to tell me what you think.

Our MSN-Entry program offers a path for graduates from non-nursing fields to obtain RN licensure in four semesters and then earn a Master of Science in Nursing (MSN) degree through distance learning while working in the field.

As you complete your RN licensure you will choose between three tracks for the MSN portion of the curriculum:

• Health Systems Leadership-Administrative Nurse Leader
  This program prepares you with the latest knowledge and applied skills to be an effective administrative leader advancing better care, better health, and lower costs. Today's health care systems require nurse leaders who can integrate experience, knowledge, research and technology to effectively lead at the unit, clinic or departmental level.
  
• Health Systems Leadership-Clinical Nurse Leader
  This program prepares you as an advanced generalist at the point of care. The CNL is prepared to lead patient safety and quality improvement, evidence-based practice, risk reduction, and care coordination. The CNL works with interprofessional teams caring for a variety of patient populations in all practice settings.
  
• Ambulatory Care
  This program prepares you in obtaining advanced clinical and leadership skills in primary ambulatory care or out-patient health care settings. The Ambulatory Care Nurse (ACN) coordinates care for a distinctive group of patients as well as actively engaging indirect patient care including telephonic triage. The ACN evaluates patient outcomes, assesses risk, and provides patient and staff education.
  

Post-Masters Family Nurse Practitioner Option

MSN-E students who wish to enter the FNP program will first receive their MSN degree and will be required to submit their Post-Masters FNP application. Students wishing to enter the FNP program immediately following completion of the MSN will be given a modified in-house” application and will not be required to re-submit transcripts. Any student who chooses to re-apply at a later date will be expected to follow the same application process as listed on the Post-Masters FNP Requirements web page. MSN graduates will be required to have completed 2080 hours (1 year, full time) RN work experience prior to acceptance into the FNP program. All WesternU College of Graduate Nursing graduates will be given first consideration in the FNP program.

Here is the cost of the program.

[TABLE=class: tablepress tablepress-id-24, width: 405]

[TR=class: row-1]

[TD=class: column-1]Tuition & Fees[/TD]

[TD=class: column-2]$52,485.00[/TD]

[/TR]

[TR=class: row-2]

[TD=class: column-1]Budget Items/Estimated Costs[/TD]

[TD=class: column-2]$28,412.00[/TD]

[/TR]

[TR=class: row-3]

[TD=class: column-1]Loan Fees[/TD]

[TD=class: column-2]$4,887.00[/TD]

[/TR]

[TR=class: row-4]

[TD=class: column-1]Total Budget[/TD]

[TD=class: column-2]$85,784.00

[/TD]

[/TR]

[TR=class: row-5]

[/TR]

[/TABLE]

I would like to hear your thoughts. Which do you think is a better route?

[llg, PhD, RN]

I have always been a supporter of the Master's Level Entry programs ... but that's awfully expensive. I would only do that if I could find a way to reduce the cost. For example, can you take a break after the first 4 semesters and work as an RN to earn tuition reimbursement through an employer -- completing the MSN portion part time while working and getting tuition reimbursement?

Do you have previous educational loans -- how big -- and how much will you be adding to those loans? How much in debt will you be when you graduate? Most experts agree that your educational debts should not exceed 1 year's salary. You could end up crippling yourself financially for many years and suffer negative consequences for the rest of your life. As a new grad (even with an MSN), you are unlikely to earn a huge salary right off the bat.

So ... in the end ... the best answer depends on a lot of financial information about you and your family that you have not provided us. But in nursing, slowing down and getting work experience while keeping your debts low is often the best way. The experience is necessary to get the best jobs and employers help pay for school ... and you cover your living expenses with your salary.

[nurse2bnoob101]

great points. So with my undergrad loans I already paid it off. Now I was looking at some other absn programs and one that I feel that I could get in their tuition is 55k for a year and half. What tuition would be okay would you say? As far as financials my parents are lower class and won't be able to help with any of the expenses.

also what would you say the big advantages would be with a msn? is it significant

[nurse2bnoob101]

great points. So with my undergrad loans I already paid it off. Now I was looking at some other absn programs and one that I feel that I could get in their tuition is 55k for a year and half. What tuition would be okay would you say? As far as financials my parents are lower class and won't be able to help with any of the expenses.

also what would you say the big advantages would be with a msn? is it significant

[llg, PhD, RN]

I am very happy to read that your previous undergrad loans are paid off. That's terrific! You have no idea how many posts we read here -- similar to yours, but with the poster already being $50,000 in debt from their first academic degree -- and they are talking about borrowing another $75,000 to add on top of those previous loans! That's a recipe for disaster.

I am a nurse, not a financial adviser (obviously) -- but a lot of experts say that your student loans should not exceed the amount of money you will make in the first year after graduation. But that assumes you don't have a lot of other financial responsibilities (kids to support, mortgage, aging parents to care for, etc.) That's a general guideline that might help you.

As for the benefits of an MSN. A graduate degree (MSN, DNP, or PhD) opens up a lot of additional job opportunities for nurses -- lots of which include better hours, pay, etc. However, it can be a mistake to rush into a graduate too soon in your career. The BSN prepares you as a generalist, prepared for entry-level jobs in all fields of nursing. A graduate degree forces you to specialize in one specific focus area, specialty or role. If you have never practiced as a nurse, how do you know which specialty would be best for you? For most nurses, it is a good idea to work in an entry-level job for a couple of years to find the "right niche" for themselves -- then go to graduate school to prepare for more advanced career opportunities in that chosen specialty. Also, the experience gained by working a couple of years in an entry-level job before/while you go to grad school is highly valued by the people hiring nurses for advance positions.

Sometimes, when people get a graduate degree too soon, they discover that they don't really like the specialty they have chosen to study. It's really sad to realize that you don't like the specialty you have so much time and money on.

You have already paid for one undergraduate degree that is not giving you a career your want. You might want to avoid making the same mistake twice by investing in a graduate degree focusing on a particular specialty before giving nursing a try to see if you like it first. But regardless of what you choose, I wish you the best of luck.

[Salsacat]

I just graduated from an entry level master's, and it was a Clinical Nurse Leader focus. That is NOT a specialty - we did the same med/surg, psych, OB, peds, community health, preceptorship, etc., that a BSN program would do. We graduate as generalists ready for an entry level position, just like a BSN. The CNL part was a class on evidence-based practice, and also Leadership, both of which I thought were very useful. Also, we took advanced patho, advanced pharm, and advanced health assessment. This is helpful if you want to go into an NP program, because you will not need an additional Master's - you can do a certificate program while working as an RN. You will already have those core classes. BUT - you have to look at your own finances, and life and especially your goals, thoroughly research the program and decide what works best for your personal situation! The Entry level master's worked very well for me, but may not for all!