Graduating early vs graduating without debt

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I have two choices: either go to UIC which I have already been accepted to in the fall and come out with anywhere from 20-30k in debt

or

wait until summer 2016 to start a less reputable program at USF, graduate 1.5 years later than I would the first choice, and have no debt. I have not been accepted to this program yet though.

Which is is a better choice?

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We are missing some information here. Have you completed the pre reqs for any nursing program yet? If I am not mistaken, UIC doesn't have a direct entry nursing program, meaning you have to do prerequisites for 2 years and then apply and be accepted into their SON. USF's program is direct entry meaning, there is a spot for you in their nursing class after prereqs are finished.

What is your story? I'm a new Grad from IL. I'm fairly familiar with BSN nursing programs here

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No debt no debt no debt!! The only way it would balance out is if you anticipate the extra time spent in school with the latter choice that you save, and if youd be able to make that money back with the time saved. So if you shave off say a year, its only worth it if you can pay your 20-30k debt in that year in my opinion.

I personally would rather keep the money I make, instead of having to live frugally for years after just because I wanted to graduate early while living with a crippling debt.

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Specializes in Nursing Professional Development.

If you are good with managing your money ... I would go to the better-quality school, even if it means a little debt. Unless you have some additional financial problems and/or are bad at managing money, most people can handle a college loan that is less than 1 year's salary. The amount of debt you are talking about is less than a year's salary. Live like a pauper for the first year or two after graduation and pay down that debt and you will end up ahead -- with a better-qualilty and more-respected degree.

Quality counts -- as long as the debt is not more than you can reasonably handle. Aim to get it paid off in 5 years.

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Saint Francis has a good nursing program. I'm confused as to whether OP understands how a BSN program works. USF's program might not start until summer 2016 because if the time it takes for prerequisites to be completed

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We are missing some information here. Have you completed the pre reqs for any nursing program yet? If I am not mistaken, UIC doesn't have a direct entry nursing program, meaning you have to do prerequisites for 2 years and then apply and be accepted into their SON. USF's program is direct entry meaning, there is a spot for you in their nursing class after prereqs are finished.

What is your story? I'm a new Grad from IL. I'm fairly familiar with BSN nursing programs here

I have finished all pre requisites for the uic nursing program and was also admitted for the fall. Have you been able to find a job yet?

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My advice would be to go to uic. 20-30000 in debt is not terrible considering a nurse's future earning potential. UIC has the top rated program in the state. You will make more than that in your first year out. I owe more than that and I am not extremely worried about it.

As for me, my NCLEX is scheduled for 6/23. I have an informal job offer with the floor I did my leadership/capstone clinical with. I also had an interview on Monday at a different hospital. No OFFICIAL offers yet but keep your fingers crossed for me!

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My advice would be to go to uic. 20-30000 in debt is not terrible considering a nurse's future earning potential. UIC has the top rated program in the state. You will make more than that in your first year out. I owe more than that and I am not extremely worried about it.

As for me, my NCLEX is scheduled for 6/23. I have an informal job offer with the floor I did my leadership/capstone clinical with. I also had an interview on Monday at a different hospital. No OFFICIAL offers yet but keep your fingers crossed for me!

Good luck! I'm rooting for ya. Thanks for the advice as well, very helpful. I'm really leaning toward just going to uic

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Specializes in Management, Med/Surg, Clinical Trainer.

As they say a bird in the hand is worth two in the bush. You have already been accepted to a program go for it.

And besides even if you got accepted into the other program you would not graduate for an additional 1.5 years later. The average nurse salary is $60,000 a year. That is potentially $90,000 in earnings you will have missed out on to save 20-30 g. The math is straight forward.

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Specializes in NICU.

What would be the difference in pay between your current job and RN pay. If you graduate 1.5 years earlier at UIC than USF, you will be making RN pay for an extra 1.5 years. How much of the extra money for that 1.5 years would offset the 20-30k in debt?

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Thats also assuming he'll find a job immediately after school. Until then hed be jobless and in debt until he actually finds that new grad position

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Pretty much all college students end up with some forms of debt after graduation. There are jobs and who's to say what the job market will look like two years from now when he graduates. The economy could be better, the ACA could up hospital admission by 200%, 60% of nurses could retire lol, etc. 20-30000 in debt for an RN degree is not bad. The earning potential outweighs waiting 1.5 years for a program he hasn't been accepted to is silly.

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