Northeastern ABSN May 2017

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Just applied and can't wait to find out the response! Anyone been accepted to the May cohort yet?

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Hey! I applied to in early December, did you hear back yet?

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Just got my acceptance letter last week, I think when they first started reviewing the summer applicants! Hope you get yours soon :)

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That's awesome! Congrats! I hope so too, it feels like I've been waiting forever.

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Specializes in Operating Rooom.

Hello!

I just received my acceptance email yesterday. I will be starting in May :)

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Hi All, I was accepted, and unfortunately, decided not to go. A HUGE factor was the cost of the program, which of course I knew ahead of time but didn't want to think about seriously until I actually applied for the loans. THis program costs ~75K plus any textbook, gas and living expenses. I understand that most people fund this through private loans, which when I researched were mostly variable rate loans starting at 6%. This means that you do not know the interest rate of your loans when you sign on (and they start accumulating interest right away)!!!

Assuming you can refinance later for a good rate of about 6.5% and you take out 75K, you will owe about $1200 per month for 10 years. This will be close to half of your take home pay if you start at 60K, and of course more if your interest rate isn't so good or you take out more. FOR 10 YEARS. If you have a child in the next 10 years and need childcare, in the Boston area most childcare is at least $1200. So childcare + loans would be all of your income. More if you have existing loans from your first degree or have a spouse with loans.

Of course, there is the possibility of making more money and paying off loans faster, but taking on this amount of debt demonstrates an immense trust in our healthcare system, the economy and your ability to be employed over the next 10 years and put away a lot of money into this debt. Please consider this carefully and take that $1,200-$1,500 figure seriously.

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Sorry, those numbers aren't quite right. It would be 75K in loans, 5 year term at 6.5% APR gives you a monthly payment of about $1400. If you pay them over 10 years at 6.5% apr the amount is only $850. Again, I think 6.5% is a low estimate and you literally have no idea what the interest rate will be and if you'll be able to refinance them. Here's the link to an easy loan calculator. Loan Calculator - Bankrate.com

If you get a job that makes you eligible for one of the Federal reimbursement programs, that would help with any federal nursing loans you can take out. However, it doesn't seem like second degree bachelor students are eligible for much (ABSN wanted an answer before I got that info from the financial aid office).

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Hi,

I applied on 1/31 and am anxiously awaiting a response! My admissions counselor said I'd hear back within 2 weeks and the decision will be posted on the application page immediately. Naturally I'm checking it daily!

How long did it take for any of you to hear back?

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Jamero2036,

Congrats! How long after submission did you get their decision?

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Hi,

I got accepted and looking to start in May

Have any of you taken the TEAS yet/

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Specializes in Operating Rooom.

Thank you :)

I got my decision just a week after I applied. Very quick! I took my TEAS last year when I was thinking about applying to a different college and they said if you've taken the TEAS within two years you can use them.

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oh great.....would you want us to connect since we will be classmates?

Am in the Worcester area... are you from Boston?

Can you please email me?

[email protected]

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