How much do you owe in student loans?

[MJB2010]

I want to go back to school but I can't justify the cost since I am still paying on my loans. But, if I wait, the degree won't have much of a return on investment.

[DyerRN, LPN, RN]

My LPN was paid for by scholarships and some out of pocket.

LPN-RN I took out 6,800 to help cover some costs, but worked full time to not have to take out more. 

RN-BSN I currently have 3 months left and am paying completely out of pocket. This has put a hold on paying extra payments on the 6,800, but worth not taking more out. 

When I start my MSN next fall I believe I will have to take around 12-15k out in loans. I am planning on paying off the RN loans prior to entering for MSN.

[9kidsmomRN]

Zero debt for me, too. Diploma in Biblical studies-paid as I went—2 year degree. ADN paid as I went. In those days you actually could do it in the 21 months (though only 2 of us out of about 60 did this) per program specs. And 20 months for BSN-paid as I went. For years thought I would go back for MSN to teach, but 1) I don’t like the way nursing is taught (opinion gained by what I see come out of schools and things that I have read here about teaching to pass boards rather than how to take care of patients) and 2) I make more at the bedside than what I have heard that the profs make. Just will stay where I am in my combo role. But never would I go into debt to advance my degree. 

[9kidsmomRN]

On 10/22/2020 at 10:04 PM, juan de la cruz said:

The CRNA field, however, having been governed by a single organization with little "outside nursing" control has set a deadline for 2025 for all CRNA programs to transition to a doctorate.  They may be the only group to achieve that goal.

Will the CRNA with a doctorate still have to practice under the anesthesiologist? That would be crappy!!

[Hannahbanana, BSN, MSN]

Not a dime. I finished pregnant c #2 and paid it off by the time he was six. He’s 37 now, LOL. 

[thenicunurse, BSN, RN]

I graduated in Feb 2020 with 58K of debt . Started working in June 2020, .since then I have paid off 24K in the last 8 months! I work night shift, only weekends, and have been picking up extra shifts. My whole tax refund, stimulus check, and a little of my savings were paid towards my loans as well (about 6K...I almost cried LOL).  At first I was using the snowball method to pay off loans, but when Biden extended the pause of student loan payments in January I switched to the avalanche method. 

My goal is to be debt free by mid 2022! 

 

 

[SilverBells, BSN]

I've been fortunate enough to not have any debt in regards to going to school.  I was able to pay for my associate's, bachelor's and master's degree without taking any loans.   With that said, though, it does mean that there are other things that I haven't been able to afford. 

[londonflo]

On 10/24/2020 at 1:12 PM, myoglobin said:

The only great reason that I can think of for possibly gong back for a DNP might be to teach in my "golden years", however a PhD would probably be the route to go if I was serious about that endeavor.

Old post I know...but waiting until your "Golden Years" will cheat your students of a young body to keep up the floor pace expected and outdated information if you have been in a limited specialty. I am prickly about this comment. I heard it alot when teaching. I think some nurses think they can sit around a table and enthrall students with their nursing experience and accomplishments and call that a 'teaching day'. The fact is: today's students will ask "are you currently working in the field as an RN" and the accreditating bodies will review your claims to "being up to date". In any event you may need to obtain CNE certification which requires a body of nursing knowledge unique to the teaching of nursing.

Yes, I react to this kind of comment. I have never heard someone say "In my golden years I am going to be a nurse practitioner". Get my drift?

[Elektra6, ASN, BSN, RN]

$0. Gen X here. College in the 90s was WAY cheaper than today. Got a BA at a state college near home. Paid for with a part time job LOL. Went the LPN, RN, BSN step by step paying as I went later on. A second degree is not many courses. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[myoglobin, ASN, BSN, MSN]

On 3/6/2021 at 6:41 PM, londonflo said:

Old post I know...but waiting until your "Golden Years" will cheat your students of a young body to keep up the floor pace expected and outdated information if you have been in a limited specialty. I am prickly about this comment. I heard it alot when teaching. I think some nurses think they can sit around a table and enthrall students with their nursing experience and accomplishments and call that a 'teaching day'. The fact is: today's students will ask "are you currently working in the field as an RN" and the accreditating bodies will review your claims to "being up to date". In any event you may need to obtain CNE certification which requires a body of nursing knowledge unique to the teaching of nursing.

Yes, I react to this kind of comment. I have never heard someone say "In my golden years I am going to be a nurse practitioner". Get my drift?

Well, I intend to keep working as a Psych NP well into my 80's.  Given that I'm currently 52 it is not entirely unreasonable that I might go back to school and earn an advanced degree such as a PhD that would let me also consider teaching (maybe in my 70's or 80's).  Given that many of my instructors were NP's with only a Masters (at major state universities) it is not unreasonable to assume that I might be able to gain such a position. Also, even as a new grad NP's I had two job offers paying around 80K per year to teach online NP and RN content from major online schools.  You may not believe that this is appropriate, but if it is possible as a new grad it is not unlikely that with several more decades of experience that I might be able to obtain a similar position (with possibly additional education at that time). 

[AnLe, ASN, RN]

I owe 15k/35k. It was in college for 10 years total; graduated in 2018. I wasn't sure what I wanted until I joined nursing school and didn't look into programs that could help until late in the game. I'm paying my way for my BSN. Started with 11 loans and I'm down to 5. Soon they'll be done. 

[londonflo]

14 hours ago, myoglobin said:

I had two job offers paying around 80K per year to teach online NP and RN content from major online schools.  You may not believe that this is appropriate, but if it is possible as a new grad it is not unlikely that with several more decades of experience that I might be able to obtain a similar position (with possibly additional education at that time). 

Since you would have 40 years experience to bring to teaching NP programs I agree you would be an asset. However  at a license-level  program. I would question your clinical skills and bedside-care knowledge to students in a prelicense program. I keep reading on here that RN bedside experience has nothing to do with bedside nursing. PhD programs do not have a clinical component .  online programs of course UOF and Walden will take anyone with a doctorate to boast 'all courses taught by a doctorally prepared RN' and to appease the creditation bodies. 

I am not saying you would not be asset to a program but just asking if you would take it to just keep working, not knowing what you don't know about the specialty of foundational education beyond your own experience. An NP MSN, PhD or not. is not an easy  entry to a community college program where most new RNs are taught today. We pride ourselves in delivering nurses into the workforce to provide our community with the nurses needed in our hospital, skilled nursing facilities, community health and school positions.

With regard to "magnet status" while many think it is great, I have clinically practiced in both magnet- and non magnet hospitals and just saw magnets have more levels of  self-important adminstrators.  I truly believe it is just a money grab from the ANCC to keep their coffers full and a hospital just touts it for PR and recruitment. 

[SmilingBluEyes]

Nothing.