I've seriously been considering going back to school for nursing. I started a while ago but had to stop because of things going on in life at the time. I did finish some classes but don't have any type of degree. I unfortunately DO have about $28k in student loans.
I am currently 28 years old and working for about $40k/year and absolutely hate the job. If I go back for nursing, I know i would have to quit as I wouldn't be able to handle nursing school and working full time as well. With this I would have to take out loans for living expenses such as rent a food. I've done the calculations and came to about $100k to acquire a BSN degree (this includes my current loan). I don't have any other debts besides my existing student loans ($28k).
Do any of you think this will be worth it, or is $100k in loans too much for a BSN . I know nursing is something that I would love and be able to pour myself into. I am currently living in Minneapolis so the market for nurses is pretty good, at least right now...
I was gonna say - DONT take out loans for living expenses. If you want it bad enough, you will do what you have to do. I wanted to become a nurse and I was already married and living on my own...but to make it work my husband and I moved back in with my mom to save on some expenses. I became an RPN first, then went back to get my BSCN while working part time as an RPN making $28/hr. This way I only had loans from when I did my RPN program...I was living with my mom and paid for my BSCN out of pocket. I now have about 7K in student loans. Sometimes you have to make sacrifices, but people make it work.
A. Get a lpn/lvn first, work father money then bridge over to rn.
B. Do all undergrad- pre reqs at community college and transfer over
C. You don't need to quit your job right away. Many nurses work while in school. Especially the beginning of school, it's fairly easy and you can work part time or close to full time. Once you start getting into specialties and more clinical stuff, that's when you need to ft back to maybe weekend only jobs or nothing at all. But being a cna or a home health caregiver can get you money on the side and has flexible hours- in home health.
100k is way too much just for a bachelors. It's an excellent degree but you do not need to get your self in stress debt!
There are ther options.
I paid for my school on my own and worked part time. I lived in my own as well and had enough money for rent. Remember student loans don't start til 6montha after graduation and you can always have the price reduced to accommodate your salary as well as deferment for time you may need to gather some money.
You don't need to quit your job right away, just remember that.
Nursing school is demanding and stressful and requires a lot of time, but working while in school is completely possible!!!
Thanks again for all the suggestions. To be honest, the nursing program itself only costs about $18-20k (excluding books). Most of the $100k would come from living expenses for 4 years (rent $500/month, car insurance $110/month, food, etc). I have a car but can pay it off soon and no kids... yet. It sounds like I can maybe get grants or possibly a scholarship. Maybe this isn't the correct forum to ask, but does anyone have some good resources for grants and scholarships to apply for? I know, I need to google it too
Google and go see a Reference Librarian at an actual library. That's how I did it in the olden days.
One source might be your religious institution if you have one.
Also, do they still have the Federal Nurse Traineeship grant money?
Maybe your state has some money.
If you are a veteran, child of a firefighter or police officer, or perhaps the child of another type of worker, you might get funds from these professions.
My degree at a state U cost me a whole $1500 due to scholarships, grants, etc. I lived with family, bought used books, had an inexpensive car, learned to love PB & J. Today's equivalent cost would be somewhat more, but not too much more. Trim your expenses.
Maybe become an LPN first if that would pay you more than your current job. You could finish school faster than if you go for RN and you could be gaining experience in Nursing.
Best wishes. Please do not take on so much debt, as just about everyone here has agreed on this.
I don't think $100k is worth it. That is two years pay with interest and you already have $28k. I would tell you to work at least part time. You say you know you won't be able to work and go to school too. People do it every day. I worked full time all the way through school. I had kids to raise. Virtually all of the CNA's I've worked with through the years have worked and gone to school. Friends who are going back for their BSN or going on for NP are working and going to school. My questions for you are
1. Can you get your education cheaper?
2. Realistically what other financial goals do you have in life? Owning a home? Starting a family?
Travel? Saving for retirement? Only you can decide. I personally think $100k is way too much. Surely this is not the only way you can go
Specializes in Pediatrics, Pediatric Float, PICU, NICU.
The hard truth is that you need to suck it up and learn how to go to school AND work at the same time, even if part time. That may mean that you need to switch jobs to one that is more flexible with your school schedule needs. But it can be done, many of us did it.
100K in loans is NOT worth it. If I were you, I would keep working at the $40K/yr job (or find a similar one that you don't hate), pay off your student loans, save up a little money, and then go to a community college and get your associates degree in nursing. Apply for scholarships, as many as you can. If you aren't able to work, you may have to take out a very small loan for living expenses, but it should be nothing close to 100K. You can then start working as a nurse, gain experience, make money, and get your employer to help pay for your RN-BSN.
If you live in an area where employees require BSNs, getting an ADN could leave you jobless for a while. Better to find a cheaper BSN, or a direct-entry MSN.
I would do it. Once you are done you can pay it down faster with overtime and live sporificely for a while. Is there a cheaper nursing school or scholarships?
I've seriously been considering going back to school for nursing. I started a while ago but had to stop because of things going on in life at the time. I did finish some classes but don't have any type of degree. I unfortunately DO have about $28k in student loans.
I am currently 28 years old and working for about $40k/year and absolutely hate the job. If I go back for nursing, I know i would have to quit as I wouldn't be able to handle nursing school and working full time as well. With this I would have to take out loans for living expenses such as rent a food. I've done the calculations and came to about $100k to acquire a BSN degree (this includes my current loan). I don't have any other debts besides my existing student loans ($28k).
Do any of you think this will be worth it, or is $100k in loans too much for a BSN . I know nursing is something that I would love and be able to pour myself into. I am currently living in Minneapolis so the market for nurses is pretty good, at least right now...
i’m on the same boat. my reasoning is this. it depends. let’s say you’re going for an accelerated program where you can start right away and finish in 12-15 months but the program is pricey and let’s say you end up with 100k loan, then it might be worth it. the sooner you finish the sooner you can start working and earning a nurse’s salary. in nyc, a newly grad rn with at least a bachelors degree can start around 85-90k per year (not including overtime), this is what i was told by several friends of mine who are nurses. now for community colleges and other public schools, you’ll have to wait a long time on the wait list before you can start and the program last at least 2 yrs; let’s say the total time to start and finish is 3 yrs. between the accelerated program and the traditional program, you’re looking at about 2 yrs of a difference. in that two yrs difference you can potentially earn 200k as a nurse, minus taxes off course, and start paying off your loans. also take into account that the longer you’re in school the more money you’ll have to take out for your living expenses and the more interest you might have to pay on your loans; this is assuming that if you go the traditional route you’re only working part time and making enough to make ends meet where you might not even be able to afford to start paying off your loans. consider applying for scholarships and student loan repayment programs. or maybe freeloading off a family member for a year and pay off the majority of your loans in one yr. or pay off as little as possible and in 10 yrs your loan may be forgiven. also, the Associates route in nursing is a little risky because not a lot of hospitals are accepting ADN’ a now. they’re really pushing to mandate a bsn degree as a minimum requirement. you might be able to to get a job in nursing homes but it’ll be really tough to get into a hospital.
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klone, MSN, RN
14,857 Posts
Why can't you work and do school at the same time? Nursing students do it ALL THE TIME. Hell, I did it as a divorced mother of two young children.
That will greatly minimize/eliminate the need to take out loans for living expenses.