Debt worth saving time/graduating early?

[nisa.33, CNA]

Hello, I need help on deciding what to do here. ?

I had to take a break from school for personal reasons that put me a semester and a half behind, I don't want to spend more than 3 years to obtain my BSN. Which is why i am having this dilemma in the first place.

I am still a year away from finishing my pre-reqs. But I need to decide which Nursing program to go to! I'm taking pre-reqs at Hillsborough community college, and they do have a Concurrent ADN/BSN nursing program, but It will take me 3 years just for the ADN and extra 2 semesters for the BSN. In total, 4 years basically. Its one of the most competitive programs, and to be accepted to the concurrent part of the program you need an invitation from the university that offers the BSN. So there is 0 guarantee that I will be accepted into the ADN program and into the concurrent BSN part of it. I will also have to take out student loans for this program but the debt wont be nearly as high- around 12k at most.

I am considering Galen College of Nursing- Tampa Bay, it has the highest pass rates of the colleges around me, it will allow me to graduate with a BSN (which is what I have wanted from day one), and I've heard its one of the top programs (not easy obviously, but prepares their students very well). Additionally, they don't require any prerequisites, as long as you have the admissions requirements they will accept you into their program. However, even with most of the general eds/pre-reqs transferred in I am looking at anywhere from 42k to 48k in student loan debt. I have basically no idea how much new grads make in the Tampa Area but I'm assuming it ranges from $21- $28 at the highest. With quite a bit of budgeting I could manage to pay it off in a few years. But I am still very unsure of which route to take....

Is getting my BSN a year earlier worth the debt? Should I simply stick out the extra year and take the cheaper route?

[NICU Guy, BSN, RN]

In order for it to make financial sense, you would need to make $36k ($48k-12k) more your first year as a nurse than your current job otherwise the extra debt is not worth it.

That is taking into consideration that you would be able to get into both programs without delay. I would apply to both programs (if they start at the same time). If you get into the community college, then go that route. If you are not accepted into the community college's program, go with Galen. The delay of another 6 months would mean you would be earning RN pay 1.5 yrs. sooner by going with Galen.

[verene, MSN]

It depends - I would 1) apply to both schools and see a) who accepts you and b) what if any financial aid you receive, as the list price isn't always the list price with tuition. (For example I applied to two BSN programs - one instate, one out-of-state, the out-of-state despite having higher tuition ultimately cost less because they provided a large scholarship and the in-state BSN only offered loans).

Look at job postings in your area / area you plan to work in following graduation. How much money are you likely to make as an ADN grad while completing BSN portion of school? How much money as new grad with BSN? What is the difference in pay you will make over the extra 1.5 years you would be in school with the slower option? How does this difference in pay compare to difference in loan amounts? Do employers in your area offer grants or tuition reimbursement to ADN-RNs completing BSN schooling?