Nursing loans really that bad? 120K

Nursing Students General Students

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Hi all!

I was recently accepted into NYU's accelerated nursing program and initially was super excited to begin this journey. When I received the bill all the excitement was kicked out of me by the whopping $20K I would need to take out in loans PER SEMESTER. This means I would graduate in 2017 with about $120K TOTAL in loans.

I've talked to several nurses that I know and they have nothing but great things to say about the NYU College of Nursing. HOWEVER, none of them had to take out excessive loans because their parents covered the cost. This is an AMAZING opportunity for me but frankly the thought of having a $120K loan hanging over my head makes me want to drink myself to sleep.

I could go on and on about how unfair the educational system is (because it is) but that's not what I want this thread to be about. This is my situation right now and I want to make the best decision for myself.

If anyone else has been in this situation PLEASE SHARE YOUR STORY. IF YOU'VE TAKEN OUT EXCESSIVE LOANS TELL ME YOUR EXPERIENCE WITH THAT. IS IT WORTH IT? IS IT TOUGH TO BE A NURSE AND KEEP UP WITH SO MUCH DEBT?

Thank you guys so much in advance!

Specializes in Med-Surg, NICU.
There's no way I would pay that much for a BSN.....CRNA school maybe or med school, but never to go work as a staff nurse.

For 120K, it would be better to move to podunk middle America and go to a community college for 4-6K and celebrate the fact that you saved like 90K at the end of graduation and buy yourself a BMW instead.

The CRNA school near me is only 60k for the entire program. New grad RNs start at 24-25 per hour while the CRNAs start off 60+ an hour.

The CRNA program is half the cost of OP's BSN program but more than double the ROI.

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Specializes in med-surg.

First of all, congrats on getting admitted! I just graduated from NYU's accelerated BSN program in January.

I graduated with a total of $87k in debt (this included EVERYTHING: tuition, daily needs...). I was awarded around $35k from NYU by basically applying to every scholarship they had that I qualified for & getting a couple of big scholarships that are academic-based. My parents did not/could not contribute. When you go to NYU, living costs are a HUGE part of the equation and I was able to cut my costs down by living with a friend in Queens, finding cheap eats in the city, taking advantage of free museum admission days, buying secondhand scrubs & textbooks from graduating/more senior students, etc.

That said, sometimes I do lay awake at night with anxiety about money - but who doesn't from time to time? As for whether the high cost is worth it...to me, I think I'm grateful I got a fantastic, world-class education. A week before I even took the NCLEX, I went to a local job fair and dropped off some resumes & shook some nurse managers hands. The minute I mentioned that I graduated from NYU, heads turned, my resume was picked up from the pile it had been tossed onto, business cards were handed to me...so I'd say the NYU name/reputation definitely helped me out in the job hunt. I took the NCLEX a week later, passed, went to an interview the afternoon my license number posted online, and got hired on the spot. In orientation, I've noticed that I've had a more well-rounded, evidence-based education than my peers. I know a lot of nurses these days take about 6+ months to find their first job as a new grad; I got hired for a nice day shift position on a med-surg unit specializing in post-op care at a reputable hospital, and all my close nursing school friends have jobs already in the 5 months since we've graduated (I'm in VA, the others are in NY, CA, MA.)

Last thing to consider when it comes to the job hunt: almost all NYU nursing students will do a clinical rotation at NYU Langone Medical Center and like most teaching hospitals, NYULMC loves to hire their own. As a student there, you'll get to make connections with nurse managers - I know that's how a lot of my cohort got their first jobs. And NYU starts their new grads out at $78k. ;)

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Specializes in Nurse Leader specializing in Labor & Delivery.
I was half joking...i'm at a cheap state school myself and turned down expensive private Schools. Cost was the reason I turned down nyu even though it's my dream school However it is true ppl you meet become life long friends.

And you don't think people you meet at community college or state universities are worthy of being lifelong friends or husband material?

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Specializes in Cardiology, Cardiothoracic Surgical.

Here let me put this in perspective for you: I bought a cute house on half an acre of land for about $120,000 for the mortgage after

putting some money down.

Your education will cost as much as a mortgage in an affordable city. You're welcome.

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I spent 3 years at a private school (tuition is about 24k a year) and 2 years at a community college that I went to for free because state and federal aid and one scholarship covered it all, all for nursing (with the exception of my 1st year at the private school, I was a different major). I just graduated in May with a BSN and a little over 16K in loans to pay off and THAT is freaking me out. 120K? Absolutely not.

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Specializes in Leadership, Psych, HomeCare, Amb. Care.
And you don't think people you meet at community college or state universities are worthy of being lifelong friends or husband material?

I think she went to Greendale Community College. :lol2:

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But...it's New York University. The name alone kind of justifies the cost. If you're looking for grad school or even placement in residency programs you will probably have an edge.

Sorry, but have to disagree with this. The name definitely does NOT justify the cost; other programs are at least as good, and better.....and cost less.....so the exorbitant expense is not worth the value of this school.

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Specializes in M/S, LTC, Corrections, PDN & drug rehab.

I could buy a house on 10-20 acres of land where I live with that much money. Geeze...

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Specializes in Behavioral Health.

I went to a fancy school, and while the instructors said, "Graduating from here will open doors for you," it's landed me exactly zero interviews over the years. I had a student working with me one day who was impressed, so I guess that was worth it, right?! ... I'm actually not sure why it doesn't matter where you graduate from (surely there are good and bad schools out there)... but it doesn't really seem to.

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To give you a short answer, if I could do it all over again this is how I would proceed: I would get my associate's degree in nursing (ADN), get a job at a hospital, then go back for my BSN with my employer giving me tuition assistance (which is what most employers do). That way you are going the fastest route to get your RN and then spending the least amt of money in advancing your education.

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If you can I would go... it's also about the lifelong friends you'll meet etc.

you'll have a good name on your resume.

also, i hate to say... potential in finding a better husband.

Not sure if serious...?:***:

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I went to a no-name, generic community college. Worked my way through, borrowed no money, zero debt.

I took the same NCLEX, and have a valid RN license, same as RNs who paid many times more than I did.

In fact, I'm debt free (after selling my house) and have several years' wages in the bank.

IMO, cheap is the best way to go.

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