Help plz! Will it be worth it in the end?

Luchador, CNA, EMT-B · Nov 21, 2018

Hello everyone, I got accepted to a program out of state where living expenses + tuition fees ect. will total closer to 90k. I live in California and know I will eventually make my way back here. Now can anyone give me an idea as to what a newly graduated nurse will make. Will I ever be able to pay off my student loans as a nurse? Does anyone have any numbers for me either a current nurse or someone you may know? I've always known I would have to get loans to pay off school but this is a private school and the cost of the program itself is considerably higher than state schools. I feel like it is nearly impossible for me to get into programs given my state's highly impacted programs where you basically need a 4.0 and nearly perfect TEAS scores to get in. In about 2 years I will have graduated with a bachelor's in nursing from the program I got accepted to but will it be worth it in terms of being able to even pay student loans? Plz help!

Ok! First thing to realize is that RN jobs are 100% regional. Ask somebody in CA or on the East coast they will tell you the Rn shortage is a hoax. On the other hand, ask somebody in Idaho and they will tell you that LPNs work 20 years med surge and retire.

Taking on a **** ton of debt is fine IF you are willing to move to places that will pay off that debt. Plenty of idealist teachers have gone to Title I schools for a couple of years to pay off debt. Same thing with RNs.

But be proud you got into RN school! Many people on this forum gnashing their teeth about getting rejected from school.

If you stake out where you are, what are your options?

I'm in an ASN in Colorado. The schools are good and the jobs are good. In Ventura? I dunno

Neo Soldier, BSN, RN · Nov 21, 2018

Now can anyone give me an idea as to what a newly graduated nurse will make. Will I ever be able to pay off my student loans as a nurse? Does anyone have any numbers for me either a current nurse or someone you may know?
I feel like it is nearly impossible for me to get into programs given my state's highly impacted programs where you basically need a 4.0 and nearly perfect TEAS scores to get in.

I live in CA as well. I'm a new grad and I will be pulling in less than 50k/year. It depends on where you work. I know of state hospitals where RNs make up to 100k/year. You need to factor in the cost of living in CA which is high.

I got into nursing school but my GPA was not a 4.0. I was actually accepted into 4 nursing schools with one being a BSN program that was out of state. Are you only looking to get into a BSN program? My suggestion is that you look into every nursing program in your area and apply. If you can comfortably drive there then go for it. Be open to going into community college if you aren't already. Taking on a student loan that high is just not the best idea. The debt you will have to repay could have been used to buy a home or something more valuable.

Registered Nurse Salaries: Which US States Pay the Best (2

JKL33 · Nov 22, 2018

I would highly discourage going into this kind of debt to qualify for an entry-level nursing position. Highly.

Check out a student loan payment calculator online; use 4.8% interest, which is an average over the past 10 years or so. Note what your monthly payments will be (they are on the order of a house or a fancy car payment depending on how long you imagine it will take you to pay off). Check out the $$$ interest you will be paying over time if you take any time whatsoever to pay this off.

You will thank your lucky stars and your own good sense a thousand times during your life if you avoid this, seek more reasonable route, and use the saved/not spent money to build a nest egg.

37changes, ASN, RN · Nov 22, 2018

I have no personal experience in California, but I have a friend in LA who went $150,000 in student loan debt for a BSN at a private school. She regrets it every day of her life.

wantobern01 · Nov 22, 2018

No way would I go into that kind of debt. You will be paying it back forever even with a good salary. I'd look into a community school even if you just get an associate degree, start working then do a bridge program for your Bachelors. That is what I did. I tarted late already had a degree for a career that well just didn't happen. I always thought about nursing but knew it was difficult I applied to a state school where I got my 1st degree but was rejected 3 times.I finally decided to go for my associate at a community school, best choice for me, hopefully I will graduate and pass my NCLEX, the school now has over a 90% pass rate. Once I get a job I will work on my bachelors. I am in debt for a little under 30K.

vintagemother, BSN, CNA, LVN, RN · Nov 23, 2018

*If* you get a job in CA as a new grad RN in an *ACUTE* setting, you will probably make 90,000 +/yr *if* you get a job in the Bay or Northern CA.

Please note, that's a lot of *ifs*. I was a new grad about 3 yrs ago and made 98K my first full year.

Keep in mind that rents are about $2000 per month and home ownership is even more.

djksjdalksjf · Dec 4, 2018

General advice is only to take on as much student debt as you will make your FIRST year working out of college.

If you're going out of state anyway, apply for out of state ADN programs at community colleges and just go wherever you get in. It will be more expensive, but not nearly 90k.

TheDudeWithTheBigDog, ADN, RN · Dec 4, 2018

No way would I go into that kind of debt. You will be paying it back forever even with a good salary.

Not necessarily. On an average RN pay, you can easily pay that off in 10 years. Treat your loan like a car payment instead of buying a brand new car and you can knock 6-10k off of any loan every year.

While it's not a good idea to go that in debt for an undergraduate degree, it's not THAT hard to repay. The challenge is that when people make more money, they get a better home, they get a new car, they get a whole new wardrobe...

llg, PhD, RN · Dec 4, 2018

You said that the figure of $90K that you quoted was for both living expenses and school for 4 years. That's not all that bad. There are a lot of state universities around the country for which that figure is what in-state students pay.

The real question is: How big will your loans be? There should be some ways you can pay for some of those costs out-of-pocket so that you don't have to take out a loan that big. Have you saved up any money to help pay for it? Will you be about to work part-time or during the summer to help pay some of those costs? How much financial aid can you get? If you have no ability to pay anything out of your pocket, you should be eligible for at least some financial aid that will not involve a loan.

I have niece who is in college now (4 years, pre-med) -- at a state school that will cost about that much. She works full time each summer (sometimes with 2 part-time jobs) and earns a couple thousand dollars. She also works over the Christmas break. During the school semesters, she works as a research assistant. She also has gotten a scholarship that reduces her tuition bill. Her family had saved up some money to contribute. (And yes, Aunt LLG helps out a little.) By piecing these various funding sources together, she is going to graduate debt free -- though she will probably accrue big debts in med school. My point is that just because college will cost $90K doesn't mean you have to borrow $90K. Do some research and be willing work and you can reduce the amount that you borrow.

You should be able to bring that student loan down to a more easily manageable amount. Then yes, it can be worth it. You'll just have to live cheaply for a while after you graduate. Lots of people do it that way. Just follow that rule about not borrowing more than you will earn in your first year after graduation.