Jump to content

Direct entry MSN worth over $100,000 in debt?

Post Graduate   (1,504 Views | 5 Replies)
by Hfield12 Hfield12, ADN (New) New Nurse

Hfield12 has 22 years experience as a ADN and specializes in Infusion.

114 Profile Views; 2 Posts

Hi all, my daughter has a biology degree and is interested in the direct entry MSN programs. There are none in our state so she will have to go out of state. I'm a nurse myself with ADN and never had to face this type of debt she will incur. She wants to complete her schooling as fast as possible, but is it worth the return on investment?

Share this post


Link to post
Share on other sites

MelissaJaneRN has 8 years experience and specializes in Labor and Delivery/ Postpartum/ School.

27 Posts; 1,626 Profile Views

That is a lot of debt to take on. There must be cheaper options?? She might have a MSN at the end of the program, but at the end of the day, she is still an entry level RN.

Share this post


Link to post
Share on other sites

Rose_Queen has 15 years experience as a BSN, MSN, RN and specializes in OR, education.

12 Followers; 4 Articles; 9,473 Posts; 110,166 Profile Views

The rule of thumb that I was always told is that loans should not exceed the realistic first year of salary. What will her DE-MSN provide? Will she be an NP at graduation? Will she be living in an area where first year NP salary is equal to or above the amount of her loan? I definitely do not think it worthwhile for an entry level RN and have opinions about NP without nursing experience but will keep those to myself for now.

Share this post


Link to post
Share on other sites

umbdude has 3 years experience as a MSN, RN and specializes in Psych/Mental Health.

2 Followers; 1,030 Posts; 14,684 Profile Views

If she's going for a highly-rated NP program and she's relatively young, getting it done quickly is not a bad idea.

My BSN and MSN-PMHNP (both great programs) total about $90k and I am doing both in about 6+ years. I paid some of the debt along the way with my RN salary, but if I had gone to a 3-year DE program I would've paid all my debt off by now and have 3 years of NP experience. I do have RN experience, but it's not worth the experiential & opportunity costs of that 3-year NP experience.

If I could choose again I would've gone to a DE-NP program without any hesitation.

Share this post


Link to post
Share on other sites

Hfield12 has 22 years experience as a ADN and specializes in Infusion.

2 Posts; 114 Profile Views

Thanks for the responses. Her end plan is a nurse practitioner, but will probably work as a RN once she graduates prior to getting her NP. She is young (23) and wants to get it done as fast as possible. Her school she's looking at you have to have some experience as a nurse. She had been looking at PA schools, but they seem to be just as expensive and very competitive to get in. At least going the NP route she can work as a nurse and tackle some of the debt ahead of time.

Share this post


Link to post
Share on other sites

FullGlass has 2 years experience as a BSN, MSN, NP and specializes in Adult and Geriatric Primary Care.

9 Followers; 2 Articles; 1,137 Posts; 10,661 Profile Views

You can estimate monthly student loan payments using a number on online calculators. So, use that to determine if she can make the payments based on expected earnings. There are also a number of repayment plans. Some are income-based, so the payments start out lower as new grads don't make as much money, then go up over time.

There are Scholarships - apply for them.

There are also loan repayment programs through the Nurse Corps. Many states have equivalent programs. Some employers do, too.

Share this post


Link to post
Share on other sites
×

This site uses cookies. By using this site, you consent to the placement of these cookies. Read our Privacy, Cookies, and Terms of Service Policies to learn more.