Columbia BSN/MSN ETP 2014

Nursing Students School Programs

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I was surprised that there didn't seem to be a thread for this year's applicants to Columbia's ETP program. So I thought I would start one. The information session was today, but I wasn't able to go. :( I was hoping someone else went and would be able to post any admission statistics or tips for the personal statement they gave.

Does everyone else's application page still say they are waiting for 1 or more materials, even though they have all green checks?

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Yes, mine says that but has all green checks. Ugh, the suspense is killing me!

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Specializes in Pediatric CICU.

My application still says that as well!

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I asked the admissions and they said there's no problem with the application saying that. They are all probably forwarded for a review. :) I know they said results come out by mid-feb but does anyone know the date? I have a bad feeling... :nailbiting:

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How does everyone plan to afford this? Mostly loans? The payment on that much of a loan would be like...over 1000 a month I think. Yikes

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how much is it???

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The master's portion alone is like 65K. I think the ABSN portion brings the total to over 100K without living expenses. (someone correct me if I'm wrong).

The student loan payment for $100,000, assuming NO living expenses, would be $1,150 per month for 10 years.

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To futureeastcoastNP

I'm searching for as many scholarships as possible and plan to take the smallest loan I could afford. I need to live a very frugal lifestyle for the next ten years while I work and hopefully my parents could help out with the debt once they get some retirement money. They helped my sister pay her loan in under 6 years.

Plan B: Hit the mega million :)

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I went to an information session last spring. ETP tuition and mandatory fees comes to $78,680. They estimate tuition and fees for the first year of MSN as $41,000 (based on 28 credits). Cost of living including rent, food, transportation, books, etc. is about $29,000/year. So $160,680 for tuition alone (it will be higher since the numbers they gave me are already a year old), and $247,680 for the whole shebang.

Other stuff to consider: nearly everyone in ETP gets the SON Scholarship which can be $10k-25k. During the MSN, the same scholarship is still available, but it is my understanding that fewer people receive it, and the amount is reduced to 10k per year. The Alumni Scholarship is available to MSN students and that is $5k per semester, but I am not sure how many of those are available.

Hope this helps and isn't too discouraging haha. Ughhhh debt...

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They estimate $250,000 for an NP program??

They charge less for medical school!! The cost of education is this country is absolutely ridiculous.

$250,000 worth of loans over 10 years is $2,877 per month. The federal financial aid calculator estimates you need a yearly income of $345,000 to afford that. This is assuming you have no debt from additional degrees.

Even the $160,000 alone (NO living expenses) for tuition and fees would require $1,841 payment per month for 10 years. Estimated salary needed up graduation is $220,000.

Alternatively, since the loan balances are so high you can choose the extended repayment plan. In that case, the $250,000 would be $1,735 for TWENTY FIVE years (cumulative payments after interest are over half a million). Extended repayment for $160,000 is $1,110 for 25 years (cumulative payments of exactly 1/3 of a million dollars).

Actual NP starting salary: between 70-85K.

At 80K, post taxes, you would bring home about $53,600 per year. With a $2,900 monthly loan payment that would drop to $18,800 annually - far below the poverty line.

These costs have me seriously reconsidering Columbia despite it formerly being my top choice. I'm not sure any degree is worth that much crushing debt. Even the MINIMUM payments on the loans would make it next to impossible to afford food and rent for 10 years. It's quite upsetting.

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Yes, the potential debt is really scary, but I see it as an investment.

Remember it's two degrees you'll be getting, not only a M.S. but also a second Bachelor's degree. You can get scholarships, Perkins Loans can be forgiven for nurses, and for whatever debt you end up accumulating you can enroll in an income-based payment plan. Sure, you'll be paying longer but I see it as just another monthly bill. And after 30 years, whatever you haven't paid is forgiven.

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