Published Oct 7, 2015
MallysMama
281 Posts
I know, I know- I'm sure this topic has been discussed a time or two. But my search wasn't incredibly helpful.
I'm currently waist deep in my MSN program (graduation set for 06/2016). But I've been approached a couple times by instructors, preceptors and even my program director- all wondering why I'm not continuing on to get my DNP. Honestly- it has a lot to do with not wanting to add $25-30k more in loans to my already vast amount! I figured I'd stop with the MSN, get a good job, chip away at loan repayment, and eventually go back for the doctorate.
However- now I'm reconsidering. I have a meeting soon to discuss being considered for a scholarship/fellowship. So now I need to really decide if it's worth pursuing. But then I started to wonder: which is the better degree to obtain? The DNP or the PhD? Is there a huge difference in the programs themselves? And is there a difference in what you can do with either degree? (Can one teach with a DNP?) If I'm going to spend another year or so continuing my education, I want to make sure I'm getting the best "investment" possible. Any thoughts on the pros and cons comparing the DNP vs PhD?
Jules A, MSN
8,864 Posts
It is in their interest to keep you on the line with tuition coming in whether it is actually funded as they will report or not. At this time I prefer a PhD because I think there is a better history with more respect. The DNP needs to work out some growing pains imo. Your plan A was sound if you ask me.
Corey Narry, MSN, RN, NP
8 Articles; 4,452 Posts
It is flattering to be recognized as a potential recipient of a grant for further education but I also agree that schools will always encourage high performing students to pursue more education because in the end, the institution benefits regardless of where the money is coming from (in your case, a potential external source of funding).
If I were a student NP right now, I would likely still pursue the Master's and start working as an NP as soon as I can. There has not been a preference for one degree over the other in terms of career opportunities at the novice NP level. Sure, a nurse practitioner with a DNP can potentially open more doors in the future (i.e., administration, clinical faculty appointments) but I also foresee that the DNP will be so commonplace that it wouldn't make much of an impact if you had the degree. At the current rate DNP programs are graduating students, those with DNP's will outnumber Nursing PhD's very soon.
I'm sure you know the difference between a PhD and DNP in terms of program goals and length. You are always going to be guaranteed an academic position with a PhD. It is the more accepted degree for an academic career though many schools have been appointing DNP's for clinical faculty positions (they are usually non-tenured).
Another consideration with an academic career with a PhD + being an NP at the same time based on what I've seen is that oftentimes, there is not enough time to practice as an NP clinician. There is pressure to produce research in addition to teaching commitments because of the prevailing "publish or perish" culture. I find that it keeps faculty involved in this field away from actually working in a clinical capacity. Is that something you want to do right away not having had your feet wet as an NP yet?
Source: American Association of Colleges of Nursing | DNP Fact Sheet
Thank you both for the responses.
Do you not think it feasible to begin working as an NP while going through that 3rd year? My school makes it so that DNP students are eligible to take boards after the 2nd year. So I could still begin working while continuing the rest of the DNP program.
I have no desire to teach any time soon. I also am not as interested in research as I probably should be. I'm excited to just begin practice as a clinician! I have pretty much determined the area I'd like to end up...and it doesn't require a doctorate. But at the same time... If you had the chance to obtain a doctorate degree for FREE, would you turn it down?! I feel I would be crazy to not jump at the opportunity. But I then got worried that maybe it's not the right degree, and maybe I should pursue the PhD.
(Even though I'm not interested in doing a lot of new research- I actually already have a topic I would love to focus on if I were to pursue the doctorate. I just need to figure out which route is more beneficial for me to take.)
But at the same time... If you had the chance to obtain a doctorate degree for FREE, would you turn it down?! I feel I would be crazy to not jump at the opportunity.
If it truly is free and you can also take NP boards in the second year I probably would do it. A word of warning in my experience it isn't uncommon for schools to make these offers which magically turn to funding via loans after the student is emotionally invested in the degree. I'm definitely a business woman but the lengths nursing schools will go to keep students on the line with minimal benefit to their practice or our profession really disgusts me.
Thanks for the warning! I'm not sure why they approached me. Most of my cohort is doing the DNP already. (It's actually REALLY late for me to switch over right now- and would not be the easiest thing to do.) So it makes no sense why they're going through the effort for me to switch plans. But if I'm going to go through the challenge of switching - I want to make sure the DNP is the right program for me.
You are a captive audience.
elkpark
14,633 Posts
(And a known quantity.)
Ha! Apparently! They caught me hook, line, & sinker! ðŸ˜
PG2018
1,413 Posts
If you work in the right setting and make "120 qualifying payments" you can get the government loans discharged. If they're private or consolidated maybe not. Having said that, there's nothing about money that a DNP will do to help. You'll spend more, it'll take longer to pay back, you'll go to work later, and you'll earn less focusing on school rather than income.
If you're offered funding for the DNP, you're still losing money via lost time. Someone who really wants a DNP, although for the life of me I can't imagine why they would, you're really better off taking one class at a time, while you continue to work and live your life spending money out of pocket before you spend it on other fun things like movies and popcorn.
You really need to decide what you want to do, be an academic and have a little side gig as a NP. Or be a NP with the option to make a lot of money and/or have a lot of time off.
It's true. I'm the Anti-DNP.