Need Advice

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Hi All,

I need advice. I have my ASN, 1 year experience, and $81,000 in school associated debt (please, I already know the mistakes I've made....sigh, it's the only debt I have, only being a relative word here). I actually owed $91,000 as of graduation, I've paid the $10k off since January.

But anyway, I am really struggling with making this decision. A BSN is highly preferred in my area especially in the bigger city hospitals where you'll find higher pay and greater job satisfaction. I've gone back and forth with going to an online school like WGU, Ohio, etc. Although they're accredited, they are not well known in my location. I'm very worried that going to the wrong school and having it turn out to be non accredited in my region or something will totally screw me. My family has urged me against WGU for that reason and for the "odd" pass/fail system. It does sound too good to be true.... I've done my research and actually spoke to a WGU admissions counselor on the phone for an hour. I was very close to applying to and attending WGU.

There are 2 well known BSN programs near me. Both are private, Catholic universities, $300/credit. I'd be looking at anywhere between $12-20k depending on how many credits transfer. I just don't know if I can stomach that much money ... AGAIN as I'm already paying off so much.

PLEASE... any and all advice is welcome, just don't bash me for my outrageous debt! thanks :)

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Specializes in Case mgmt., rehab, (CRRN), LTC & psych.

I'd personally find any job with the ASN degree you currently have, and two jobs if possible. I'd focus on working and devoting as much of your disposable income on paying off your current student loan debt as humanly possible.

Believe me when I say you do not want $100,000+ worth of student loan debt right now. This is what will happen if you return to school right now with your current $81k in debt and add another $20k to $25k to pursue a BSN degree.

In a nutshell, my advice is to eliminate as much student loan debt as possible before incurring more. Complete the BSN degree at a later time, not at the present time when it will cause your $81k balance to balloon by 25 percent. Good luck to you.

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Thanks for the reply. I forgot to add that I currently work full time & my hospital pays $3k a year for tuition reimbursement.

A big part of me agrees with you, but I am so worried that waiting to get my BSN will hold me back. I am already itching to move on from my current position..at least within the next year or 2.

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If it was me I would pay down a good chunk of debt before I went back to school, any way I could.

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Specializes in Critical Care, Education.

Great advice from the PPs - I agree.

On a side note. The "pass -fail" WGU scheme is proving to be problematic for entry into graduate level programs because part of their criteria is based upon GPA - & you don't get one from WGU. It will be interesting to see how this turns out.

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What do you mean "hold you back"?

You are working full-time in a hospital job with that ASN. An ASN with experience is valuable.

Congratulations on the amount of debt paid back, keep up the good work.

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I work in a small local community hospital. The major city hospitals around me require BSN and also pay more $. That's what I mean by "hold me back"

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Specializes in Nursing Professional Development.

Just take a couple of classes now (at the local schools you have confidence in and that are known to local employers) ... but don't spend more than the $3000 tuition reimbursement per year. You have no critical need to rush through school: you have a decent job now -- and will be working towards your BSN for later.

Also, by only taking 1 course at a time, you will have some time and energy available to pick up an overtime shift ocassionally to help pay down your down more quickly.

You are not in a crisis situation at the moment ... and you don't have to make an "either/or" decision. You can get your BSN at a school that you trust will serve your future needs well and you can do it without incurring any more debt. So take that route. Just slow down a little and you can both go to school for free and also pay down your debt.

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Specializes in ICU, CM, Geriatrics, Management.

What the Commuter said.

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I have 100k in loans. I have my bsn. I took out private loans as a single mother in school full time and only working on the weekends. You sound like you really want to go to school. I say do it. Look for scholarships there is a lot of free money out there that people don't take advantage of. Use ur works tuition money. Make sure you read the fine print. You may owe them a year or two of working for them before leaving. You are always going to be in debt. If you are bettering urself and you will make money. Do it. Just make ur payments on time. We will always be in debt. Everyone in this world will be. Just make ur minimum payments and do more when you can. My loans don't bother me. They will be paid every month like all my other bills and forgotten about until they are due again. Good luck.

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We will always be in debt. Everyone in this world will be.

Untrue, and this type of thinking really bothers me. Debt is not something everyone 'has to have', nor is it a good thing. Living paycheck to paycheck also is not how it has to be. Having debt means having to pay additional interest and not having spare money for emergencies and future options. Generally extra school is a good thing but not when your debt is as large as it is already. If more school is what you want to do then do it slowly by taking up to the 3k/year your hospital offers you.

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Thanks for the input guys! I guess I needed some validation for my decision. I plan to only do classes up to 3k a year, maybe a little more (that I can afford).

I disagree with "everyone has debt." I'm pretty crazy and check my loans daily. I pay FAR more than the minimum, I've paid off 14k since January. My goal is to pay my loans off within 3-5 years. I have NO other debt and refuse to buy a house until my debt is substantially lower. If I could go back and change my loan decisions, I 100% would! You live, you learn.

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