Debt for Nursing School

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So I am a medical technologist right now and I have $35,000 in student loan debt. I am planning on going to an Accelerated BSN program that will run me about another $45,000 in debt. Nursing was my original major but I changed it because I didn't get in the program. I like my current job, but can't shake the feeling that I want to be a nurse. Is a BSN worth getting into that much debt for? Will I be able to make enough money to pay it off before I die?

Specializes in HH, Peds, Rehab, Clinical.

Um, there is a LOT that's involved in getting into that program. Do not assume more debt thinking that this will be the unicorn that makes your student debt go away.

Really?
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Specializes in HH, Peds, Rehab, Clinical.

Holy cats. Honestly, knowing what I know now, if I made $23 as a lab tech, I'd stay right where you are. Especially since you said you enjoy your job.

You can change the repayment time, it will just obviously cause you to pay more over the life of your loan. 10 years is standard, but you can make it 20 or 30 years if you choose so that the payments are lower but then you are stuck in it for that long. So there are a lot of upsides and downsides. I just don't understand why education is so expensive. How am I supposed to get ahead with 35,000 in debt, 23 bucks an hour as a lab tech with no upward ladder, and a 6.5% interest rate? Even on my federal loans the interest rate is like 4%. It's crazy.
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I never get it when nurses come out of school with major debt. Nursing isn't that lucrative to start with, but if you really want to do it, then do it. But find a way around it. My hospital paid employees $3000 annually for school but they have to stay a year after it's paid. I did that. It at least paid for one semester of my BSN every year! I'd also try to pay some of your loans down first...

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since you put it that way, would you rather die in debt, or die knowing you didn't pursue the career that would've changed your life? don't settle when you know that you have more to offer the world. money is money and we're all in debt- thats the price we pay for education. a nursing education and career will be priceless, just try to look into less expensive programs.

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I didn't get into nursing because I had narcolepsy, undiagnosed. So once I graduated college and found out, I couldn't stop thinking about becoming a nurse. Working in the hospital and not being able to be a nurse is the worst. All the other techs I work with couldn't imagine becoming nurses, which is funny because that's all I want to do. The lab is fun and everything but I really want patient contact.

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Specializes in Public Health, Med/Surg.

I recently graduated from an Accelerated BSN program and have a nice chunk of student loan debt I'll begin repaying here in just a few months ($40,000 of student loan debt for ONE year :(). Also, my starting wage is around $20/hour as a new grad RN.. which from what I understand is less than what you are making now as a lab tech. But your starting wage will depend on your location, where you work, what shift, etc.

I too felt strongly about returning to school to become a nurse. So I completely understand where you are coming from. My family/friends thought I was nuts at first when I told them I wanted to pursue a second degree in nursing. But they supported me. My suggestion to you is look into a less expensive BSN program (or even ADN program which would then allow you to bridge to BSN, as someone mentioned above). Look into BSN programs that would allow you to continue working your current job while you are in school. Live as cheaply as you can. Try to pay off some of your current debt.

Having said all that.. If I had to do it again, I would. I wanted my BSN and I wanted it in a year. But that year of my life was crazy, and I was not able to work at all after the first semester. I was very fortunate did not have any student loan debt from my first degree. But several of my classmates did. Not sure if this helped or made you more confused, but best of luck to you (:

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we're all in debt- thats the price we pay for education.

no we're not :)

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I will have about $65k in debt once I finish my BSN next month.

That being said - I went from working a job I dreaded and cried while driving to to a job that I can't wait to get to and hate to leave. Will paying back loans suck? Yup. Will it suck as much as hating where I am and what I'm doing for a large percentage of my waking hours? No way.

Of course, I should have followed my dreams when first out of high school and was covered by scholarships and blah - BUT I'm following my dreams now and it feels better than I could have imagined. (Probably, ironically, because of that job I hated so much in the meantime.)

If nursing is your dream - go for it. People spend money on useless things that don't validate them in any way all the time. This would be so much different and better than that because it's what your heart is telling you to do.

Good luck. :)

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Specializes in ICU Stepdown.
I will have about $65k in debt once I finish my BSN next month.

That being said - I went from working a job I dreaded and cried while driving to to a job that I can't wait to get to and hate to leave. Will paying back loans suck? Yup. Will it suck as much as hating where I am and what I'm doing for a large percentage of my waking hours? No way.

Of course, I should have followed my dreams when first out of high school and was covered by scholarships and blah - BUT I'm following my dreams now and it feels better than I could have imagined. (Probably, ironically, because of that job I hated so much in the meantime.)

If nursing is your dream - go for it. People spend money on useless things that don't validate them in any way all the time. This would be so much different and better than that because it's what your heart is telling you to do.

Good luck. :)

Yeah but OP likes her job so that's a part of the consideration

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Specializes in Orthopedic/Neurology.

I would reconsider the program you have in mind. My total nursing degree is costing me less then 10,000. Mind you, this is an ASN, and you're probably leaning more towards BSN, but it's something to think about, considering you already have that debt to begin with.

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Specializes in ICU.

Find a cheaper program. Why this program? $45k alone is a lot for a BSN. If you have any prereqs left to take, go to a CC. Take them there and then find a BSN program to transfer into. You like your job so time is not really the issue. This route will be so much easier and cheaper. It's fine that you want to get into nursing, just don't sell your soul to do it. There are other routes to get there. My total cost to be an RN is going to be around $10k. I'm getting my ASN. Then when I get a job, I can go and get my BSN. And most hospitals around here will offer some type of tuition assistance to nurses. It's not a ton, but any little bit helps. Your using tunnel vision. There are other ways to achieve your goals.

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Specializes in Allergy/ENT, Occ Health, LTC/Skilled.

do it but go cheaper. My bridge program (its the same price for regular nursing students though) is 6K/ year full time. If I didnt have three kids, I would be working and paying as I go, and with your salary that's totally doable. It will get you an associate degree and then you can do your BSN online with tuition assistance whever you work. The popular ADN-BSN program around me is $16k total I believe. The hospitals will give you $5k in a year for schooling which would reduce your cost as well.

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