How much to pay for an RN degree?

[want2banrn]

So here's my situation. I have been accepted to a great nursing school but the tuition is high and scholarship opportunities are limited. I am hearing tons of stories where folks cannot find jobs and I'm wondering if this is going to be the rule for some time and if so, am I crazy to spend north of $50,000 for my degree? When I was taking prereqs, there was a huge shift at the end where all the classes were full and it seemed impossible to get in to anything b/c everybody wanted to be nurses. I know not everybody hacks it in the prereqs but I am wondering if this is a clue that the market is going to be saturated for years to come.

[shortnorthstudent]

I think that it's important to keep in mind that the job market today may not be reflective of the job market in 18-36 months when you're done with your program. I would look at the job market where you are and consider what the hospitals and other facilities are doing in terms of expansion. The entire country is in the midst of one of the worst recessions and job markets ever and even the health care industry, which is normally immune, is suffering. It will improve, but the question is whether you believe it will improve by the time you are finished with your education.

Take a look at the cost for your private school program as compared with the costs of the other programs in your area. How long is their waitlist? Would you complete this program sooner than those other programs? If so, what is your realistic earning potential? I had a professor in my STNA class suggest that people try some of the private, much more expensive programs, to eliminate the waitlist that our local CC has. However, our local CC has been one of the best local programs for a long time and has much better clinical sites than the new expensive private programs. Some people have chosen the quick solution, but that isn't the right choice for everyone.

Sorry for rambling somewhat pointlessly.

[want2banrn]

Thanks everyone for the great advice, it has been helpful!

Like in a lot of major metro areas, there are a number of nursing programs around here, including both public and private programs. The acceptance rates aren't terrible, either. Some are as high as 25% or more. One is much higher. The big private program around here is comparable in cost to where I've been admitted but it doesn't have the name recognition (whatever that is worth). So I have ruled that out because if I am going into debt, I want to have at least some level of recognition in my program's name, as I will likely not return to this area.

We have community colleges here but I have not heard good things about their programs. I realize that on the floor, associates RNs work side by side with BSN RN's, but I don't want to give up the upward mobility that a BSN provides. Plus, since I am a second degree student, a CC program is close in time to what it would take me to get my BSN.

I couldn't agree more with the OP who said that a lot of it depended on my thoughts on how the job market would be in the next 24 months. I think that is spot-on. The other variable is what happens w/ health care reform. If hospitals get their reimbursements cut even more, it's not going to be the doctors who are hit, it will be the nurses and other support staff. Plus, census at many places is low so that doesn't help either. Additionally, so many people are going into RN programs that we are going to have a solid supply of RNs for years, even with the high burnout rate.

I'm rambling a bit myself. I don't think I can make a decision until I hear back from the school in the next three weeks or so. If the scholarships are low, then I will pass. My grades are good and my financial need (from the worksheet) shows high need, so hopefully they will provide me with good scholarships. Crossing my fingers!!!