LPN (6k) vs BSN (35k) in the same timeframe. Help!

Published

Hello all,

Dilema: Within the same amount of time, e.g. 1.5 yrs, I can obtain either an LPN or a BSN. Both are certifed. LPN is 6k, BSN is 35k. Both are full time and would require me to quit and live off loans and/or work -2hrs a week. I have a 5 year old daughter, rent, car, phone expenses.

If I do LPN I can start working to at least make enough to support myself. Potentially, I can find a company with tuition reimbursement to pay for LPN-BSN bridge. After LPN i would have only 36k in bedt. If I do BSN I will have 35k plus debt I already have totally 60k in debt. I would be a BSN amd would obviously make 60k a year over 40k (as an lpn).

Take the debt and do bsn or extend school time but save almost 30k in debt?

Up Vote Up Vote ×

You will definitely make more having a bsn, and you can usually defer loan payments until six months post graduation. You will also be able to pay the loans back easier. The payments will not be that much of a difference on a month to month basis, varying by a few hundred dollars. It is the same time frame but with better job opportunities. If you go LPN, you may get stuck in a rut, having to work all the time and not being able to find time for school. If you go straight BSN, you avoid that problem.

Up Vote Up Vote ×

I would suggest not taking on so much debt. Is some of that to cover living expenses? $30 - $60K is crazy for an LPN/BSN. With interest those payments are going to be pretty high. There is still no promise of a job once you are done with school. We all have to make choices and sacrifices. You just have to decide what is best for your family and situation. Good luck either way.

Up Vote Up Vote ×

LPN Pros

- Work enough to attain tuition reimbursement.

- Have a better quality of living while still obtaining BSN.

- Have about 30k less in debt.

- I can take out loans to supplement living expenses and not work during program.

LPN Cons

- Means another 2-3 years before I obtain BSN.

- 15K less a year.

- Poorer job opportunities.

BSN Pros

- Done with BSN. (Hello)

- 65k a year avg.

- Better more abundant job opportunities.

- Good living after graduation.

BSN CONS

- Will have to be at a private school meaning 35k in loans added to my 26k = about 65k for a BSN.

Bottom line: Im worried about the debt I will have to repay. Any seasoned Nurses with a lot of debt? How would you advise me to proceed?

Up Vote Up Vote ×

I currently have 26k in loans for my A.S. So, whatever I take out next will be added to my already existing mother-load of debt.

Up Vote Up Vote ×

Edited.

I did my math wrong.

Up Vote Up Vote ×

I just completed my BSN after being a RN for 4 years.. My best friend is an LPN. Please take this advise and GO FOR YOUR RN!!! My best friend has so many regrets about choosing LPN because it was cheaper/shorter for school. Her job opportunities are so limited (and she's got 10 yrs exp) and her pay is drastically lower than mine as an RN. Even on OT (time and a half) she makes less than me. I keep only contingent jobs because of the pay difference- but average a yearly salary that an NP makes. She works the same amount of hours and doesn't even come close to that. You will most definitely not regret going for your RN

Up Vote Up Vote ×

Way back when, I was in your same boat. I had a toddler and was a single mom faced with the LVN vs RN decision. In the end I took the RN route because for an extra year of school (that actually turned into 2 extra years due to BSN vs ADN), your opportunities and income goes up dramatically. Your loan debt goes up too so do be careful on that aspect.

Things to think about: Look into job opportunities up front. Don't go only by what the school says; do your own research! Are they hiring new grad RN vs LVN in your area? What type of pay are you looking at? Is that pay satisfactory for you based on your area (include loan repayment)? Will you be satisfied with the type of work environment you will be employed at based on LVN vs RN? Are you willing to move if needed to get a job (because some areas are saturated with new grads)? If you go to LVN first and start working, what is the realistic likelihood that you will go back to school to get your RN while working and raising a child?

In the end, I got my BSN. I don't regret it because I make a good income and I met my spouse in nursing school. My debt wasn't ridiculous because I attended the state university so I paid it off in 18 months. Jobs were plentiful for new grads back then too.

For any college major, I personally think it is absurd to take on loan debt more than your expected annual income because your monthly repayment will be extremely high and you will have less money than you think to live off of. I realize that's the way of things now, but I also know that new grads are having a tough time finding their first job and they are graduating with a significant amount of debt (more than their expected annual salary).

Good Luck to you!

Up Vote Up Vote ×

Do you recommend me to do the LPN and then the RN? I have a whole year to wait before I can get into an Rn program because I still need the A&P series. So I thought, I can save on my RN debt by going through a community college for the RN first, then BSN. Like I said, I would have a whole year and I thought in the meantime should I do my LPN since it would be paid for by the FA. If I go this route I would still be working through school.

The only reason I was debating between LPN and BSN was because if I do the LPN I would do this: LPN- RN- BSN in about 3 years with half the debt. (Given that the Community College in Miami [MDC] accepts me). If I do BSN I would have to go through a private college (so I don't have to wait that year im talking about) and do straight BSN in about 1.5-2yrs but with twice the debt. Basically, what I'm saying is im tiered of being in school and I want to finish already but I do not want a 60k IOU.

That is my dilema. Advice?

Up Vote Up Vote ×
Specializes in CNA, LVN, RN.

I had a similar dilemma as you. I have 40K in loans from my BS in Business Administration. I NEVER got a job out of it and that was in 2011!

I did a 12 months LVN program, did not receive financial aid (you can't get aid if you already have a bachelor's degree), but I did get a tuition waiver because CNA wages are crap. All I paid for was books, supplies, and gas (lots of gas since I would drive 2-4 hours roundtrip 4 times a week for school.

The reason I did the LVN route first instead of RN was because I did not have A&P&Micro, and couldn't get those classes at the local CC because they use a priority registration system (since I'm over 90 units I have to wait until "open enrollment" and by that time the good classes are already beyond filled up). I ended up driving 100 miles to another school in the middle of nowhere and took those 3 classes at the same time. It was hell but worth it and my tuition was again waived, but I still had to pay for gas and books (gas is expensive in CA)!

Now I have my pre-reqs and can start applying for RN (ADN) schools. My gen-ed requirements were already done since I have a previous degree. So it would take me another year for RN bridge. And many CSU's offer an RN-BSN bridge over 12 months (costing roughtly $16,000 per their websites).

It would cost approx $2500/semester + books & supplies for the RN bridge.

It is up to you whether you want to earn money as an LPN while going for your RN/BSN later.

Yes, loans don't have to be repaid until 6 months after you graduate, but IT STILL ACCRUES INTEREST, on top of that you still need to pass NCLEX and find a job. I graduated LVN in December 2014 and did not receive my license until May 27, 2015. Got my first job on June 9, 2015. What are you going to do those 6 months after graduating (hopefully you pass NCLEX the first time)? You really have to allocate a portion of your income to paying back loans, and I know most people just pay the bare minimum and spend money like there's no tomorrow.

Up Vote Up Vote ×
Specializes in CNA, LVN, RN.
You will definitely make more having a bsn, and you can usually defer loan payments until six months post graduation. You will also be able to pay the loans back easier. The payments will not be that much of a difference on a month to month basis, varying by a few hundred dollars. It is the same time frame but with better job opportunities. If you go LPN, you may get stuck in a rut, having to work all the time and not being able to find time for school. If you go straight BSN, you avoid that problem.

I know it's going to take longer doing the LPN-ADN-BSN route, but I worked in a student loan center for 5 years and I know people who DO NOT pay off their loans in 10 years (something always happens). And while you may earn $60K+ as an RN, which may be your loan total, YOU WILL NOT pay it off in a year and you will have so much interest accruing as well. I'm not trying to add to my debt. I will pay nursing school on my own so in the end I'll just pay back my original $40k loan (which is almost $500 a month for 10 years).

You can still work part-time or PRN as an LPN, work weekends while attending school. BTW may RN-BSN programs in CA are online or meet once a week now.

I would definitely got the BSN route and pay back loans ASAP if you can learn not to spend your money early on. But you say you have a child so, sorry to say, but I think you're probably gonna see $$$ and go spending money instead of focusing on paying back the loans.

Up Vote Up Vote ×
Specializes in CNA, LVN, RN.

BTW I've been a single mom for 7 years so I think if you have the drive and ambition then you can definitely succeed at whatever you decide to choose. Good luck girl!

Up Vote Up Vote ×
+ Join the Discussion