Please help with my decision making, oh wise ones :)

kplp1111 · Oct 18, 2012

That is a tough situation. What is the MSN for? Is it MSN/MBA? Is it geared toward leadership where you would more than likely have to have been a nurse to qualify or understand the task at hand? What certificates will it allow you to take? 90 grand is alot of money, but your chances of making enough to take care of it could be there. Personally I would pay more for the MSN assuming it was geared in the direction I see for my future. If it allowed me to sit for the FNP exam I would take it.

So I gues what I am saying is do it but maybe find a second MSN entry program and compare the two?

GunMetalBlack · Oct 18, 2012

Hey there, thanks for the reply.

It's an MSN Entry program, where the first two years grant you RN Licensure, and the next two are the FNP concentration. Its a private school, but with the extra concentration, you are looking at loans now going beyond 90K-100K for that program.

On the other hand, there is another school that offers an Masters for the FNP/Certified Midwife..which is what I eventually want to become-a Nurse Midwife. But I believe I can always do the MSN Entry and go back to get my CNM license later.

The ADN program at the CC is two years, and has a bridge to a state school that lets you finish the BSN in 14 months. The total estimated cost is ~17,000 for both programs in addition to being able to live at home. I am also newly engaged, and I can also consider the ADN-MSN programs in which the program is in my fiancee's state, but I heard those are difficult to get in as an out of state resident. I was thinking of maybe establishing in state residency as an RN.

I just hate taking on more debt than needed. I just want to have it off my mind

kplp1111 · Oct 18, 2012

Sounds like alot of middle men involved. If it were me I would pay the money to for the MSN entry program. However, given your situation and the happiness of your future marrige I would take the ADN route.

Graduation2016 · Oct 18, 2012

Wow, that's $200,000 you could pay for your wedding, buy a house, and a car with! Good luck!

zoe92 · Oct 18, 2012

I would do the ADN program to reduce your debt. You could still end up getting the MSN while working as a RN, with possible compensation/pay back from your hospital. If you want to have the debt off your mind, I think it would be better to do the quicker cheaper ADN. Otherwise if you do the entry MSN, you would have $90,000 + around $80,000 = $170,000 of debt after your program. I know that MSNs can make around $100,000 or a little more a year but you would still have to put every penny of your paycheck into paying back debt for at least 1.5 years.

GunMetalBlack · Oct 18, 2012

I would do the ADN program to reduce your debt. You could still end up getting the MSN while working as a RN, with possible compensation/pay back from your hospital. If you want to have the debt off your mind, I think it would be better to do the quicker cheaper ADN. Otherwise if you do the entry MSN, you would have $90,000 + around $80,000 = $170,000 of debt after your program. I know that MSNs can make around $100,000 or a little more a year but you would still have to put every penny of your paycheck into paying back debt for at least 1.5 years.

I guess the smartest idea could be to get employed as a RN in the out of state hospital, and pay down my backlog of debt from my past (quarter life crisis lol) while attending an MSN program there. Any suggestions on how I can make myself the most employable within then next two years? Should I get any other certifications other than ACLS?

GunMetalBlack · Oct 18, 2012

Btw thank you all for the great advices and input, I am taking it all in and weighing my pros and cons list lol.

itsmejuli · Oct 18, 2012

Honestly? If I was in your shoes I wouldn't think of going to school until I had that $80k paid off and then could pay cash to go back to school.

What is your current degree in? Are you working in the field that you got that grad degree in?

Have you done the student loan repayment calculations?

A new grad nurse doesn't make much money and there is no nursing shortage.

Do yourself a huge favour and read all the threads about unemployed new grads, the difficulties nurses are facing in the work place and then read the threads on paying student debt.

GunMetalBlack · Oct 18, 2012

I had have a biology and a MPH degree, but its so difficult getting a job out there with this, as it is right now. I fell in love with nursing during the middle of this program as well. It's a double edged sword. On one hand I am concerned about not getting a job from my first degree that I will not really like, and the other hand I understand how hard it is for new RN graduates to find a job.

CDEWannaBe · Oct 18, 2012

Besides the debt, I don't think it's right to get the MSN when you have little real life nursing experience. It could make it tough for you to get a job.

Do you have birthing experience? The reality of being a labor and delivery nurse or midwife is a lot different than what you might imagine. It's important to go through clinicals before you choose a specialty. You might be surprised where your skills best fit.

GunMetalBlack · Oct 18, 2012

Besides the debt, I don't think it's right to get the MSN when you have little real life nursing experience. It could make it tough for you to get a job.
Do you have birthing experience? The reality of being a labor and delivery nurse or midwife is a lot different than what you might imagine. It's important to go through clinicals before you choose a specialty. You might be surprised where your skills best fit.

Great point, I may want to be another specialty other than an FNP or a CNM in the long run...I don't have any birthing experience whatsoever. I am just being super cautious this time around in where I invest my money, because I do not want to make a repeat of my same mistake from picking up a degree in Biology that I was not really passionate about in the end.