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?

Specializes in Tele/Med Surg/Psych.

I go to Lewis and will be 30,000 in debt. Not too bad for 4 years at a private college. Very good nursing program as well, high pass rates on the NCLEX!

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Yes Lewis is great! I was against going there because my HS was across the street and everyone from there goes to Lewis. However, their nursing program is AWESOME! Good luck with finishing up!

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Specializes in Tele/Med Surg/Psych.

I know which one you are talking about :) and thanks!

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I looked at lewis! It's a great school. Thank you all for replies it all helps. More people are telling me to choose UIC and that is what I'm discretely telling myself inside.

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All I can say is...I really wish we had no student loan debt!! Between my husband and myself we pay more than $1k per month in student loans! :-( I say no debt...as long as the program is accredited!

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Specializes in Med/Surg, ICU.

I think both choices sound excellent. The no debt option is less risky (in the event that you can't find employment right away) but 30K in student loans is not overwhelming by any means. Just keep in mind, it is far too simplistic to do calculate projected salary and student debt to determine how you will come out ahead or how quickly you can pay the loan off. Life always finds a way to throw off the best laid plans. You may not make as much as you anticipate and/or your living expenses will increase after graduation.

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Specializes in Family Nurse Practitioner.

I'm a big fan of doing the math where money is concerned and agree that a sure thing is better than a possibility but another thing to consider is what is the OPs earning potential now and will they continue working while in school. If they are making a decent income now and will continue on some level while going to school the extra 1.5 year might not be a s significant.

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