Going back for PMHNP or travel nursing?

gratefultobeanurse16, BSN, RN · Mar 15, 2021

Hey there. If you know for sure that PMHNP is where you want to go and you are passionate about it, I say go for it. I would not get discouraged by age at all in regards to loans. Loans are loans at any age! And 46 is still young! ? I would be concerned for loans independently of age and how it would affect you and family financially.

If you were to travel, are you interested in doing local travel in your state or traveling across the U.S.

Depending on the travel company, many travel RN are able to set their own schedule and are offered higher pay on a weekly basis. Some travel companies allow you to have a break between contract assignments. (btwn couple weeks to up to 30 days). This could be a good alternative for you to travel and save up for PMHNP school and you can cash flow the program without having to go into debt.

Not for you to disclose here but some things to answer are.

1. How much student loans do you currently have? and are you financially able to pay towards them now.

2. How much more dept would the PMHNP add? And would you be able to work and complete program to help pay loans while completing the program?

3. Does current job offer tuition reimbursement?

4. I know for graduate degrees there are rarely any scholarships BUT contact financial aid department and find out if there are any extra funds left over from scholarships to go towards program cost.

I hope this helps and I wish you the very best!

gratefultobeanurse16, BSN, RN · Mar 16, 2021

19 hours ago, gratefultobeanurse16 said:

2. *debt not dept

"nursy", RN · Mar 16, 2021

I've been a nurse for 40 years and loved all the things I did, and never had any desire to go back to school. However, if I was starting out now, I would definitely be considering going back to NP school (as is just about every other nurse out there), because bedside nursing is just tough. However, NP is fast becoming (in some places) an overpopulated profession with pay (in some areas) starting to come down. Something to consider. Travel nursing was one of the funnest things I did, having picked locations that I truly enjoyed exploring and living in. When I was widowed, I went back for a stint in ICU just to get my skills back up so I could travel nurse again. (Ended up remarried and not traveling but that's another story). So I think your choice would be, what would you enjoy doing more?

Been there,done that, ASN, RN · Mar 16, 2021

A lot of personal variables involved. If your husband will retire in two years, what is his choice? Does he want to stay in the area while you are off to school? How does he feel about taking on debt? Would he like to travel with you?

Tally4970 · Mar 17, 2021

On 3/15/2021 at 11:40 AM, gratefultobeanurse16 said:

thanks for replying. For follow up, since he is retiring I want to be financially more secure since we will be losing his income then.
My husband will support whatever I want to do ? he would for sure travel with me! he just wants me to be happy. Which actually makes it harder because I feel like the decision is all mine! LOL

I am worried we might get sick of the travel after awhile, but get used to the money. I don’t want to have to travel. We do love traveling now for pleasure m. But I don’t want that to get spoiled either. Also worried, is it nerve wreaking to find contracts every 13 weeks, get your own insurance, etc...
I have around 35k left from my previous loans. I currently have no trouble making my payments, but after he retires it will make it much tighter.
Getting my PMHNP would cost roughly another $25-35k depending one which school I picked. But after I’m done my salary would increase considerably. The thought of more schools kinda makes me cringe though. LOL
I don’t want to make the decision based on just how much it will cost and how much more I will make, but it’s definitely part of the equation.
Bottom line, overall I think what I make now salary wise is just OK. It’s sad what nurses make for the responsibility and work we do. I would like to make more money AND enjoy what I do. These were the two things that I thought would fit both of those things for me. Guess I was just hoping for a light bulb moment instead of second guessing if either are the right choice.

Tally4970 · Mar 17, 2021

Also forgot to add. My job does offer $2k per year to help pay with school. So some help, not a lot.

They also have a program that offers $16k but you have to commit to them For way too long after you graduate. I don’t want to do that, because if they don’t have a pmhnp job within their system. I’d be stuck or have to pay them back.

kbrn2002, ADN, RN · Mar 17, 2021

My son is a traveler. His wife has a job that allows her to work remotely and she travels with him. They really enjoy it but there are a few negatives. Taxes can be challenging depending on what your "home" state is and the residency requirements for filing state taxes.

They also don't own a home so they don't need to maintain a separate residence that they are never in. The downside is they are essentially homeless between contracts and just stay with family or friends, So if you decide to travel you'll need to decide if it's worth it to keep that home base and the cost of maintaining it when are rarely there or figuring out where to stay between jobs.

Plus side is the money is pretty darn good and they get to live and work in all sorts of places. They are doing things kind of in reverse and travelling while younger before they decide where they want to take a permanent position and settle down.

As far as school, the decision to take on more debt is really dependent on where you are financially and if you feel you will make enough additional income from the additional education to make taking on that debt worth it.

gratefultobeanurse16, BSN, RN · Mar 17, 2021

9 hours ago, Tally4970 said:

Also forgot to add. My job does offer $2k per year to help pay with school. So some help, not a lot.

They also have a program that offers $16k but you have to commit to them For way too long after you graduate. I don’t want to do that, because if they don’t have a pmhnp job within their system. I’d be stuck or have to pay them back.

Ha! I totally can relate. But I think you are overthinking the what if scenarios. "I am worried we might get sick of the travel after awhile, but get used to the money. I don’t want to have to travel. We do love traveling now for pleasure m. But I don’t want that to get spoiled either. Also worried, is it nerve wreaking to find contracts every 13 weeks, get your own insurance, etc... "

These are definite valid points to consider but every scenario will not be 100% perfect. Maybe reach out to some travel companies and see what their stipulations are. The process maybe easier than you think. I

know what you mean about getting spoiled by the money from traveling! It would be a challenge to go back to "regular paychecks" but I guess it depends on the end goal. If the goal is to travel and make great money and be in a position to pay down some debts, and travel with hubby does that meet more of your goals?

Or does completing program, increasing income significantly with new degree, but having to temporarily focus on paying debts, and eventually travel on the side with hubby?

The good news is you have options! The bad news you have options! (LOL) And because of those options it leaves room to over analyze EVERY possible scenario. Tell hubby to make the decision for you so you can breathe! (LOL) But in all honesty, I think you can't go wrong either way! I wish you the best!