Some proprietary trade/vocational schools do close down abruptly -- several years ago, a big school in the big city near me shut down abruptly and left town after they got in trouble for being, basically, little more than a scam to get federal student loan money (it was not a nursing program). Those students were just left "holding the bag" (and, yes, they did
still owe the money for the student loans they had taken out).
Another issue with proprietary schools is whether or not the courses will transfer into other schools. There are many nursing programs
offered by private, proprietary trade schools that offer a good nursing education and are approved
by the state BON for their students to eligible for licensure
, but, because those schools are not accredited
by the agencies that accredit "regular" colleges and universities (and I'm speaking of general academic accreditation, not nursing accreditation), none of the courses taken at these schools can be transferred for credit into another school. So, if you decide later on (as many, many
nurses do) that you want to continue your education in order to "move up" and expand your career options in nursing, you basically have to start all over because you can't get credit anywhere else for the courses you've already taken.
In this day and age, I can't think of any good reason to pay tuition for courses that can't be transferred to another institution. Even if you are thinking now that you never
want to do anything but basic bedside nursing and will never
want to go back to school -- many of us started out in nursing thinking that, and, a few years later, we felt v. differently. IMHO, it's a big mistake to make decisions and take steps on the front end of the process that are going to limit your options farther down the road.
Before you enroll at the proprietary school (which would NOT
be my choice of the two options you describe), I would encourage you strongly to make sure that courses taken there are transferrable -- and don't just take their word for it, call up "regular" colleges and universities in your area and ask them
whether they accept credits from that school.