Hello all! I got accepted into Georgetown's FNP program for the fall. The cost for the entire program is about $88,000!!!! I am planning on working part time (24 hours per wrateek) and will also have a new 5 month old by then. We have no family nearby so my only choice is daycare. It's going to be such a sacrifice>>>I know. I will need to take out student loans in order to pay for school and daycare. I have gotten accepted into another program (one cheaper) but I won't be able to start until Fall 2017. By then I would be more than half way done with this program. Plus...the cheaper program would not help with finding clinical sites (I already know two people who are in the program who had to drop 'cuz they did not find a site that semester and did not have support from faculty). Georgetown on the other hand, I was told has 95-98% success in placing their students.
I guess my question is...what would you do? Would you take out over $80,000 in student loans for the FNP program? Or would you just forget the whole thing all together. I'm also worried about being able to pay back all these loans. I know about loan repayments through the HRSA BUT I don't want to fully rely on this (anything can happen!). I feel like I could miss out on this opportunity...but I don't want to take out this much debt withouth being able to pay for it in the end.
Awesome! Thanks! Is it the one bu huether and mcance, 2015? Do youhappen to have the assessment book too? You are fortunate in already knowing where you could potentially work after graduation! Then you would already have an ideamof your starting salary and guanranteed employment. Im possily thinking of dropping down to part time to kake it more manageable. Ill have to see what husband thinks about all this...thanks again.
Awesome! Thanks! Is it the one bu huether and mcance, 2015? Do youhappen to have the assessment book too? You are fortunate in already knowing where you could potentially work after graduation! Then you would already have an ideamof your starting salary and guanranteed employment. Im possily thinking of dropping down to part time to kake it more manageable. Ill have to see what husband thinks about all this...thanks again.
Yes, that's the correct text. The text for research is Nursing Research: Generating and Assessing Evidence for Nursing Practice by Polit and Beck.
Eighty thousand is a lot of money to borrow. You need to keep in mind that if you borrow $80,000, you will end up owing quite a bit more. No more subsidized graduate student loans means that the interest will begin accumulating immediately and be added to your principle.
That being said, my student loan debt was about that much when I graduated. If you take the repayment plan to get your loan paid off in the shortest amount of time, your monthly payment will be almost $1,000. I had some unexpected medical debt on top of that, plus my mortgage. I also had no children or spouse dependent on me. I was fortunate to get into a HRSA loan repayment program, but keep in mind these are very competitive and dependent on where you are willing to work after graduation. It's also unlikely that they'll pay back the total amount.
Is there any way you could defer your admittance to Georgetown until next year? You could work overtime and cut your budget down to the bare minimum to save for school.
Specializes in ER/Tele, Med-Surg, Faculty, Urgent Care.
@sailornurse: Out of curiosity, where did you obtain your MSN/FNP and do they offer a post-master's FNP option?
Thanks!
UTEP-U. Of Texas-El Paso. Yes you can do postmasters. I applied for Fall 2016 for DNP. With current in state tuition it should cost about 16K. I don't know what out of state tuition is.
It's alot to think about for sure. The most important issue to consider is...can you successfully complete this program at this time? The worst thing would be to do poorly, drop out or skate through but not be in a position to obtain stellar references from your preceptors/professors. I borrowed 168,000 in student loans. I have a BA, 2 masters degrees( one nursing) and a Phd (not nursing). All of my schools were Ivy League--so this is why the cost is so $$$. While I borrowed 168,000, my actual balance is 280,000$ after the capitalization of interest, etc. Monthly payments on the 30 year plan come out to 1400.00/month. Unfortunately, while I do work in the healthcare field in a non profit hospital, I can not qualify for the Public Loan Forgiveness, because my salary does not qualify me for one of the income driven payments. This means, I am looking at paying the whole thing. My salary (on paper) looks great--but of course working long hours means lots of $$$ paid toward child care and babysitters. Money spent keeping up multiple licenses, saving for my childrens' college education, emergencies...you all know the drill. Certainly I am comfortable and very glad that I went this route, but if anything were to happen and I couldn't make those huge payments.... well...that wouldn't a good situation.
Excellent training is a must.... a brand-name uni is usually a great asset to have (although sometimes it can close doors, rather than open them). I would recommend NOT ever taking out ANY private loan. If you do borrow the 80,000K, try to make some small payments during school and see if you can do a Public Loan forgiveness or similar program when you graduate...and most of all...make sure you graduate!!
I worked my butt off for a year in temporary staffing agency, and after that year had more than enough saved to pay for my Master's.
My former brick-and-mortar university (no frills, and definitely not the Ivy League, just a solid place which finds all preceptors for all students) has an option for those who "works" in the University, doesn't matter how little, to slash tuition 50%. That means $10000 or thereabout for MSN in exchange for drinking coffee in the undergrad lab a couple of hours every week.
Thanks to both of your posts. To belljar1995, PhD, RN, how can going to a top name university shut doors? I'm hoping Georgetown would help me find a job after graduation. That is a lot to think about and you're right, I have to make sure I pass the classes to make all of this worth it. I once talked to a SRNA when she was in her program and I asked "What happens if you fail"...they told me that wasn't even an option and they can't think like that....so yes I HAVE to pass if I decide to go ahead and go through with the program.
To KatieMI, I liked that you went to that brick and mortar university and trust me...if the other school would help me find preceptors for students, I would go to that one instead. I did look into Georgetown to see if there was any sort of work study I could do like you had mentioned. I found this for undergrad classes for faculty and staff.
$2,490.07 per semester
$4,980.14 per academic year
$19,920.59 per lifetime
My work currently reimburses up to $1800 per year ($3200 if full time). i know it's not a lot but will help some. I am planning on staying where I currently work because I work weekends which would help when I start clinical and can still get benefits for my family. Its a real tough circumstance...
Does anyone know the job prospects for new graduate FNPs in the East Coast (MD, VA, DC) area or in NV? Which is where I am planning to move after graduating?
One thing, OP. I am doing online program, for one thing precisely for an option of finding my own preceptor. I'd got so much enough of Her High Majesties suffering from terminal power trip syndrome complicated by mental sadism, IV degree as an undergrad that I do not want any more chances like that. And in that brick-and-mortar place I did two grad courses as my undergrad electives. Everything I did while there was picking my nose and scourging Ebay for hours. Did not even bother to buy textbooks. My current place may be mostly online, but at least I have to study for real for a bit.
Aik0
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Awesome! Thanks! Is it the one bu huether and mcance, 2015? Do youhappen to have the assessment book too? You are fortunate in already knowing where you could potentially work after graduation! Then you would already have an ideamof your starting salary and guanranteed employment. Im possily thinking of dropping down to part time to kake it more manageable. Ill have to see what husband thinks about all this...thanks again.