Finances in Nursing School

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Hello Everyone,

I am currently taking prereqs in order to get into a great ABSN program. I met with an advisor at ECU today. They are wanting me to re-take courses and added on Chem courses. I am ok with that, however, if there is such a huge need for nurses, it shouldn't be too difficult to get into a Nursing program in NC. I have an information session at NCAT on the 16th. I would love to get into UNC or even Duke. I am a Carolina fan from the heart, but when it comes to education, I will go where I am accepted. I currently have a Masters in Healthcare Informatics and it has been difficult for me to get into a position due to not having enough experience, so I decided to go back to pursue Nursing. Has anyone been accepted to Duke of UNC ABSN program? If so, how were you able to manage your living expenses, especially since you are not able to work during the program? Were you accepted on the first or second try and what were your gpa, qualifications, that granted you acceptance into the program? Any help is great appreciated. Thank you.

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Specializes in ICU.

Nursing school is competitive, period. Just remember that there is not necessarily a "huge need for nurses" - that is a lie the schools feed you to get you to apply. There is a shortage of experienced nurses, but no shortage of new grads.

If you are not working, you will probably have to take out the full $60k that Duke estimates for tuition plus cost of living. Just don't forget that you are going to be starting out at about $40k/year if you plan to work day shift as a nurse in NC - $60k is a lot of debt for someone making $40k/year. With almost three years of experience, my base pay is $44k, and NC has both state and federal income taxes. If you only work full time and don't have dependents, you can count on bringing $1200 or so home every two weeks after taxes, and that's only if you work in a hospital and not a lower-paying job like a doctor's office or a clinic. Make sure you can afford student loan repayments on that budget.

If you are concerned about finances, work your way through school and get a traditional BSN. That's what I did, even though I had a previous degree, and I graduated with no student loans. Which is more important to you - graduating a year earlier, or graduating without debt? Only you can answer that question, but the amount of debt you'd take on from going to Duke is something you should weigh very carefully, IMO.

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Specializes in Case mgmt., rehab, (CRRN), LTC & psych.

I worked as an LPN/LVN full-time throughout school.

There's a general rule of thumb: never borrow more than you'll earn in one year. If wages in NC are lower than the national average, I'd reconsider attending a prestigious school with expensive tuition such as Duke. After all, you'll be earning the same low pay as your debt-free coworkers who have associate degrees from community colleges.

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if there is such a huge need for nurses

There is not a huge need for nurses. I suggest researching the current job market before you decide. Many new grads have difficulty finding new jobs, and it's predicted to get worse. That said, it is also regionally based, and dependent on your location.

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Specializes in Prior military RN/current ICU RN..

It doesn't matter even if there is a "huge need for nurses" as schools only have X amounts of openings. So even if the USA needed a million nurses you still only have X amount of accredited schools. You can only put out a certain amount of new grads no matter the need. And the "need" varies BIG TIME. Many areas you can change the word "huge" for "no".

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Healthcare infomatics sounds like a good job. Are you sure there is no future for you in this when you have gotten your masters in this? You have invested time and money in this field so it seems strange to want to switch to nursing without having worked. Internship? Relocation? Career advisor?

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