How Much?

DA314 · Nov 4, 2008

I think the general rule of thumb is to not go into debt more than you expect your first year salary. I personally would cut that in half. But it all depends on your personal situation. If you already have a high debt load or high cost lifestyle, then you shouldn't take on much more debt. If you live frugally and don't have nay other debt, you can afford to take on a little more.

MB37 · Nov 4, 2008

I was just going to say the same thing. I borrowed a total of $15K for my ABSN, including about $2K/semester for living expenses (I'm married and he makes enough to support us on his own but not tuition, and it was tight). I only borrowed $2500 for my first BS, so my total debt load is less than half than I'll make in my first year.

Make sure you consider time as well in your equation - with a CC, you'll likely be in the nursing portion of the program for 2 full years. You may have summers off, but even if you can work you'll be stuck at tech pay (or waiter pay, or whatever job you've been doing until now). My program took 15 months, so I am making RN pay 9 months earlier than if I'd gone the CC route. Let's pretend (for ease of math) that techs make $10 and RNs make $20 in your area, and that you work 20 hours/wk as a tech in school and 40 as an RN after graduation. By getting out 9 months (36 wks) earlier, you'd MAKE an additional $21,600 that year (pre-tax). Plug in your own numbers and see what you come up with. A $15K/semester private school might still not be worth it, but a $5K/semester state school might.

Also, will you need a BSN for your future goals? Are hospitals where you live "BSN-preferred"? Do you want to work your way into management someday, or maybe become a CRNA? You might not ever need a BSN, since you already have a bachelor's degree. You can also probably get your employer to pay for at least a portion of the BSN completion later on if you decide you need it. There are tons of pros and cons to both choices. For me, ABSN was the best route for many reasons. For others (especially if you HAVE to work and/or have heavy child care responsibilities) a slower paced CC or university program is better.

Good luck either way! You'll find strong opinions about both programs here...

AEM0522 · Nov 4, 2008

Thank you so much. I really appreciate your advice.

mom25 · Nov 4, 2008

This was a tough one for me too! My local accelerated BSN program was 3 semesters at 7800.00 per semester. My local community college is 580.00 for 5 semesters. I have five kids and don't work(so no loss of income) and I couldn't decide what to do. I finally decided that the local cc would be a better fit and because I have great grades I got in the first semester. It would of taken me at least two semesters to get in at the BSN program because it is much more competitive and I would get extra points if I have taken the last 24 credits at the BSN school.

I really wanted to get a BSN because I thought it would be a better fit but I just couldn't do it because of the cost and the extra time. I am assuming (maybe incorrectly) that it would be much more intense because of the time difference.

Good luck with your choice!!! I know it was a really hard one for me!