Am I Making The Right Decision & Is It Worth It?

cb_rn · Apr 30, 2010

I graduated nursing school with a woman that was in her mid 50s and she's still going strong in an ICU and loving it.

Several hospitals offer loan reimbursement. For example, I went to work for a hospital that gave me $5000 after each year of employment worked. Im not sure if the economy has led to a decrease in the number of employers offering this but do your research.

On that same vein, many hospitals, esp teaching hospitals, offer tuition discounts that are extremely generous.

There is also a new public service loan forgiveness program that will apply to many nurses after 10 years and 120 on time payments for your loans they will be forgiven (http://www.ibrinfo.org/index.php) that may be worth checking out.

I will caution you that our salaries may sound very generous on paper but you will work for every cent that shows up on your paycheck. I had never made over $8 an hour, I spent nursing school dreaming up ways to spend the extra $20 or so I'd be making an hour. I'm still not driving a miata, getting weekly pedicures, or vacationing in Europse. Hahaha. But I do love what I do on 9 out of 10 days.

Follow your heart. Best of luck to you.

madwife2002, BSN, RN · Apr 30, 2010

I think if it your dream to pursue nursing then you should go for it. You are not old by any nursing standards we have many new nurses in their 40's and 50's so I wouldnt worry about age.

It is normal to feel nervous and anxious but this time next year hopefully you will wonder what you were worrying about.

Good Luck

madwife2002, BSN, RN · Apr 30, 2010

PS yep do not think you will earn lots of money unless you live in a state which pays well or if you are willing to do lots of overtime. I have been a nurse for 20+ years and I only earn $31 an hour!!

GabiB · Apr 30, 2010

PS yep do not think you will earn lots of money unless you live in a state which pays well or if you are willing to do lots of overtime. I have been a nurse for 20+ years and I only earn $31 an hour!!

Thanks for the advise :). However, don't get me wrong, its not about earning lots of money, if that was the case I would stick to commercial real estate lending. However, I work extremely hard & have always been one of the best at what I do so I have no doubt the same will be carried over into my nursing career. My main concern is my hefty student loans .

Also, I live in the NYC/NJ area so I'm optimistic about the job prospectives.

cb_rn · Apr 30, 2010

You'll be a great nurse :) It just takes time. You mention wanting to get the MSN. Do you know what you're interested in yet? Of course it may change but NP and CNS programs generally want you to have some bedside nursing experience and if you are interested in the administrative type positions you won't really get that bedside nursing that it sounds like you want. Just keep in mind that you won't start out as an expert (I know that's an obvious caveat) and it will take time to build up expertise. Also consider that every hospital I've ever worked at pays you based on years of experience/position on the clinical ladder and it is a set rate that can only be supplemented with weekend and off hour differentials. I'd advise you to call local hospitals and inquire the starting salary for a new Rn. Hospitals typically pay much better than offices that tend to have better hours and few holidays. As for your loans, I understand your pain! Like I said in an earlier post, it pays to research on the benefits offered by prespective employers. It may behoove you to find a hospital that does do tuition reimbursement and get a part time job as a CNA or nurse intern and you can possibly get some assistance, not to mention your foot in the door on taking a staff nursing position where you possibly could negotiate your salary a tad bit on the fact that you are already an employee and at least somewhat familiar with the routines and policies of the hospital, though it will still be a big adjustment to go from CNA/intern to RN. Keep your eyes open for scholarships for MSN and especially for women and workers that are changing fields. I would suggest you join a professional nursing organization of choice (especially if you already have a field of preference such as neonatal or what have you), the student rates are generally less expensive and give you access to organization scholarships as well as an opportunity to get involved.

Lizzy88 · Apr 30, 2010

Hi, if you are worried about the loan, there is always the choice of going to a community college. I also wanted to get an ABSN but because of the tuition costs I prefer to go to a CC and get the ASN, at the end BSNs and ASNs take the same exam to become an RN. However, an RN with a BSN has more job opportunities but you can work your way up. Good luck with whatever you decide

kcochrane · Apr 30, 2010

I became a LPN at 42 and just became a RN at 47. So its never too late. I took a paycut to become a nurse but it was worth it for me. With the new student loan policy someone posted above, the $50k shouldn't be as much worry. As long as you can afford the payments for those ten years. Right now as a RN (ADN) I am making $26/hr and that is with LPN experience. Starting salaries in upstate NY are $20-22/hr.

Good luck!

HouTx, BSN, MSN, EdD · Apr 30, 2010

Hmm - you live in the NY/NJ area and say you are confident about job prospects for a new grad???? You probably need to read a few more posts here on AN to get a more realistic picture. Jobs for new grads are have been scarce in your area for a while now.

I really don't want to rain on your parade, but folks such as yourself who are well established in a career field have a completely different set of challenges than a 'mature' student who has not had your level of job success. Are you sure you are not buying in to the idea of nursing rather than the reality?

Of course, $ is not everything, but coupled with the other difficult challenges faced by new graduates, you are creating a fearsome hill to climb. You are going to be making less money (for sure), working nights, weekends & holidays, at a much more physically and emotionally exhausting job in an environment where your position is at the very bottom of a highly stuctured pecking order. On top of that, you will have hefty student loans to pay off... not scenario geared to serenity & self-actualization. Frankly, the return may just not worth the investment.

Most hospitals do provide tuition reimbursement but it usually is just a very small fraction of the total cost... $2500 a year is not an uncommon amount. Compare that to the cost of graduate education.

GabiB · Apr 30, 2010

Hmm - you live in the NY/NJ area and say you are confident about job prospects for a new grad???? You probably need to read a few more posts here on AN to get a more realistic picture. Jobs for new grads are have been scarce in your area for a while now.
I really don't want to rain on your parade, but folks such as yourself who are well established in a career field have a completely different set of challenges than a 'mature' student who has not had your level of job success. Are you sure you are not buying in to the idea of nursing rather than the reality?
Of course, $ is not everything, but coupled with the other difficult challenges faced by new graduates, you are creating a fearsome hill to climb. You are going to be making less money (for sure), working nights, weekends & holidays, at a much more physically and emotionally exhausting job in an environment where your position is at the very bottom of a highly stuctured pecking order. On top of that, you will have hefty student loans to pay off... not scenario geared to serenity & self-actualization. Frankly, the return may just not worth the investment.
Most hospitals do provide tuition reimbursement but it usually is just a very small fraction of the total cost... $2500 a year is not an uncommon amount. Compare that to the cost of graduate education.

Thanks HouTx your input is well received. However, I have done much research & the job prospect for nurses in the e Northeast particularly NY/NJ is much greater than that of other regions & other states. I do agree the job market is not great, as is the case with practically every profession, nevertheless some areas are better than others.

As far as the "Idea" vs the "reality" of nursing, hmmm, I'm not sure from my perspective that there's such thing. No offense intended, but I don't think there's much glamour to nursing. The "idea" of cleaning bodily fluids and working weekends & long days is not what prompted my career change but rather the urge of helping others on a more personal level and also what I believe I should be doing.

Jules A, MSN · Apr 30, 2010

I would find a cheaper school. Truthfully if you were making $80,000 a year and still have student debt I'd be hesitant to add more debt while decreasing your income. :twocents:

vegas2009 · Apr 30, 2010

However, my school is very expensive, over 50k in loans for the ABSN & when combined with my previous student loans of 25K I will be about 70k in debt. I also plan on going on to a masters in nursing but hope to find an employer willing to pay for it so I have no doubt I can make the money to pay off my loans in a short time.
Yikes! $ 50 grand for ABSN? That's a foreclosed condo/house (on sale of course)! The only difference is that, with the $ 50 grand student loan -- You're NOT under contract for 30 years to pay!
Well, if you think it's worth it, then why not? But, you really have to go to the Vatican to see the Pope... just so you can pray for a JOB afterwards.
By the way, if nursing jobs were practically falling from the sky (like they were about 10 years ago). . . I'd say go for it. Otherwise, you need to re-think $ 50 grand for accelerated, NOT even worth paying for a two-year degree (especially not)! --->> unless of course, if it's for a master's, then it's worth it.