Is $49,000.00 too much for ADN program?

Stephalump · May 25, 2012

In your own experience is 49,000.00 too much for ADN program (uniforms,textbooks and supplies included)?
I am taking a loan out for all of the tuition and living expenses,how soon do you think i would be able to pay it off after I graduate and find a job?

Holy moly! Considering I'm paying $4500 for mine, I would say YES, it's too much! I accidentally put an 8 instead of a 9, but here's an estimate.

Also, considering how long it could take you to find a job with as a new grad, $550 a month is a lot to swing if it takes more than 6 months. And that's a lot to pay for 10 years, period.

Loan Balance: $48,000.00

Adjusted Loan Balance: $48,000.00

Loan Interest Rate: 6.80%

Loan Fees: 0.00%

Loan Term: 10 years

Minimum Payment: $50.00

Enrollment Status:In Repayment

Degree Program:Associate's Degree

Monthly Loan Payment: $552.39

Number of Payments: 120

Cumulative Payments: $66,286.04

Total Interest Paid: $18,286.04

allnurses Guide · May 25, 2012

This has to be a joke.

Stephalump · May 25, 2012

This has to be a joke.

These places exist. I saw an ITT Tech ad for a $50,000 ADN program the other day.

akanini, MSN, RN · May 25, 2012

Wow. I live in NYC and have never heard of so much for an ADN program. Thats outrageous!

DarkLotus · May 25, 2012

I'm thinking 20K is too much for a BSN program so 45k is definalty too much for an ADN!

llg, PhD, RN · May 25, 2012

The ITT Tech in my region was charging $56K a couple of years ago. MCI (ECPI) was charging $43K. I don't know what they are today.

It's outrageous what some of these for-profit schools are charging. That's why there are movements to close some of these programs and/or cut off their easy access to federal student aid dollars. The taxpayer ends up subsidizing a lot of those student loans -- and many of us taxpayers don't want to pay those outrageous prices for eduction that SHOULD be a whole lot cheaper.

allnurses Guide · May 25, 2012

50K for an ADN is reDONkulous. No way is it worth it.

SugarPlumRN · May 25, 2012

Way too much! My ADN was 9,000 and I thought that was a little pricey...

Esme12, ASN, BSN, RN · May 25, 2012

These for profit, accept anyone, churn out the grads......are charlatans.

Loan Balance: $48,000.00

Adjusted Loan Balance: $48,000.00

Loan Interest Rate: 6.80%

Loan Fees: 0.00%

Loan Term: 10 years

Minimum Payment: $50.00

Enrollment Status:In Repayment

Degree Program:Associate's Degree

Monthly Loan Payment: $552.39

Number of Payments: 120

Cumulative Payments: $66,286.04

Total Interest Paid: $18,286.04

If you can find a job after graduation you night start out at $24.00/hr will you be able to afford that $552.39/month payment for 10 YEARS??? :eek:

ImKosher · May 25, 2012

Yeah! My ADN program is only 10,000

IndyElmer · May 25, 2012

No, that doesn't seem like a reasonable cost.

Both of the 2nd degree BSN programs (3 terms or 4 terms at state universities) that I considered are around 18k-20k (exclusive of living expenses and exclusive of pre-req expenses). The $20k-ish includes tuition & fees as well as some non-cost-of-living expenses like vaccination titers, background checks, uniforms/shoes, textbooks, NCLEX books, ATI (or Kaplan, depending on which school I'm talking about) fees for intermittent assessments throughout the program, etc. We do pay more per credit at either school because our classes are nursing classes and even more per credit because we're working on a 2nd degree. And of course it's even more if you add in pre-reqs and if you add in the cost of living like rent/mortgage, utilities, car insurance, gas, etc. Those living expense costs can easily push the total up toward $40k or even $50k.

The nearby community college ADN is quite a lot cheaper, but I don't remember their total cost. According to the Nursing School Guide, comparing just tuition & fees, the nearby community college is just 28% the cost of the state university 2nd degree accelerated BSN program, which would suggest a total tuition & fee cost of MUCH LESS than $10,000 for the program.