Debt for Direct Entry NP

[KNNMNP]

I'm sure there are a million threads out there on this topic, and I've searched and read through quite a few, but I am wondering what many of the Direct-Entry NP students think of the cost/payback options for Nurse Practitioners and Direct Entry programs in particular.

I am about to begin a DE NP Program and over the last year I have applied, interviewed, and compared a lot of really great programs all of which were very expensive. I rationalize the cost of these programs by saying:

1. I thankfully do not have to take out money for living expenses while in school which makes a 2-3 year program to earn a masters degree worthwhile.

2. I will love my job as an NP and don't want to spend my time doing anything else.

3. If I have to spend 50-100k now to make 70-100k a year for the rest of my life that seems like a decent investment.

4. If I do an ADN program then an MSN program I will waste a lot of time.

5. Thats just what school costs now.

How do you think about the debt/payback options? Is anyone paying out of pocket? Schools like Emory, Penn, MGH, Vandy etc are so expensive but seem to be very worth the education they provide you with. Just curious what some of you think. Maybe I'm just trying to convince myself that debt for school is an ok thing.

[ToTheStudent]

I feel it's definitely worth it, and I think hundreds of other students must feel the same since they're taking on the debt as well at these same schools. Every major direct entry cost about the same and as long as your entering without any previous debt, I think it'll all be fine. At first it seems like such a HUGE amount, and it's scary, I know for me it is, since I have to throw in living expenses as well, but I counted up the cost and the benefits are worth the risk. Just need to plan well, think ahead, and work hard!

[ToTheStudent]

Goodness I used the wrong your. Biggest pet peeve and I did to myself. But anyways, yeah it's worth it!

[KNNMNP]

ToTheStudent did you complete a DE program? I do have previous debt but I also have a masters in Healthcare Administration which hopefully after 20 or so years of being an NP I can use to either teach or do hospital admin for a change of pace. Also, I am thankfully married to someone with a PhD, a good job, and no debt. I think its certainly person dependent but I'm wondering what helped others decide they were willing to take on the DE debt. Also how much is average?

[ToTheStudent]

I'm enrolled in one now! I think the main thing to look at is whether you can attend a private or public university. Private schools like Vandy, Emory, MGH, Yale, Penn, Columbia, Northeastern and so on are more expensive. I'd go with a solid average price of $110,000 for the whole program. Public universities are much lower but there are a lot fewer direct entry programs that public or so I remember. But i know they're out there! So if you took out a loan for just a private school and could pay a little already I honestly think you'd be in great shape! Given the earning potential.