Poor economy = less applicants?

rn/writer, RN · Nov 19, 2008

I would think that there would be fewer applicants, at least in the short term, for several reasons. Job layoffs or cutbacks in hours could affect those who are supporting themselves during their schooling. That might mean finding a job with hours that aren't compatible with clinicals or even working a couple of jobs to make ends meet. It also might mean dropping out, at least temporarily, due to lack of funds.

For someone being supported by a spouse or other family members, the tighter economy could make less money available overall. And savings set aside to allow a person to be able to work part time or not at all might be needed for more basic necessities.

I think, too, people who would have been willing to take the risk of going back to school in better circumstances could be sitting tight for the time being, waiting to see which way the economy goes.

This could be a good time for people who have the resources and reasonable job security to get into school.

GabbsRN · Nov 19, 2008

I don't really know how it would affect the number of applicants. I see both sides of the coin. However, I know that at my school, the application period just ended, and it was the most competitive its ever been and there were considerably more applicants than usual.

TheCommuter, BSN, RN · Nov 19, 2008

I will be attending a full-time RN program starting in a couple of months. The admissions adviser informed me that the lack of applicants this year is directly related to the credit crunch on Wall Street.

As recently as one year ago, students with fair or poor credit histories could qualify for private student loans to finance their schooling as long as they were willing to pay higher interest rates than their counterparts who had excellent credit. However, banks are now unwilling to lend money in this tough economic environment. When they do lend money, they're ensuring it is only going to the students with the best credit histories.

In addition, more and more people are accruing negative credit histories due to getting laid off and therefore being unable to pay their bills. The car gets repossessed, the house is foreclosed, the family is evicted from their apartment, the medical bills skyrocket, someone files for bankruptcy, or the credit card bills go unpaid. All of these unfortunate events will hurt someone's ability to obtain a student loan.

There are still many people who would like to attend school, but cannot finance the schooling if no banks will lend them any money.

hiddencatRN, BSN, RN · Nov 19, 2008

I'm guessing more applicants, but maybe fewer of them can actually afford to go once/if accepted. Being able to get a loan has been my biggest dread, and my decision is definitely going to be influenced by that.

kew82 · Nov 19, 2008

I just got a rejection letter from a local CC yesterday. Avg applicants around 600. This application period they had over 900 for something like 30 or 60 seats. I don't know if it's the economy, but that's a substantial jump!

benegesserit · Nov 19, 2008

Around here, there were considerably more applicants for spring semester than there have been in the past. However, we have an increasing backlog of people who have applied multiple times and not got in.

However, it makes sense that you'd see a temporary drop in applicants for RN programs specifically. People going back to school because of the economy can't jump straight into applying to nursing school - they have to get through the prereqs first.

Amanda1985 · Nov 19, 2008

I was thinking that there would be less applicants because not that many people can afford to quit their jobs or pay for nursing school. I think more people are applying to the community college because cost wise it is much cheaper. I just turned in an application to a private college for an entry level masters program and she said they received about 300 applications, but the admission counselor was mentioning that some of the people who may get accepted can't afford to not work (it's accelerated) or pay $38,000 tuition just for 1 year and then around $20,000 the next 2 years. This will cause students to have to take out loans and right now getting a good loan is hard.

So this may be a good thing for some of us who can afford to quit their jobs or work limited part time, etc. Or it could be a downfall for others who have been trying to pursue nursing and now can't because of the poor economy.

NewGoalRN · Nov 19, 2008

More applicants as many people are looking to change jobs and they see the medical field as recession proof. Broward College had over 700 applicants for 250 slots when they ususally average around 500 applicants.

rn/writer, RN · Nov 19, 2008

The more expensive the program, the fewer people who will be able to afford to go. Many private schools used to offer scholarship to a sizable portion of their student body. Investment losses have diminished this source of funding.

On the flip side, community colleges, and to some extent, state schools, may see a rise in applications. They are more of a bargain than ever in this tight economy. I know many nurses who became ADNs without ever having to borrow a dime. Others obtained BSN degrees from state schools with modest investment compared to private universities. And, too, even though there aren't very many of them left, diploma schools can be an excellent choice.

The more economical the schooling costs, the more applicants there will be, so anyone who is looking at any of these cost-effective programs should probably make their move ASAP.

CT Pixie, BSN, RN · Nov 19, 2008

My daughter (a Junior in High school) has a lot of friends who are Seniors. They were told by the Student Advisors and most of the Colleges they attended that:

1. If planning to attend a private, more expensive school, chances are better of getting in, since most people aren't able, at this time, to afford tuition. And there is little in the way of money available for loans.

or

2. If you were planning on attending a State Community College or University, to expect higher than normal applicants, thus lessoning their chances of getting in, due to people who were planning on going out of State to college or to more expensive shools are now deciding to stay here and pay the lessor the the tuition.

I wish I had my pre-reqs done for the LPN to RN bridge program. I might have an easier time getting in with the economy as bad as it is.

Dr.Nurse2b · Nov 19, 2008

I was informed that the PTA program at my school had significantly less applicants this year, and someone accounted that to the poor economy. What's your opinion? I've heard that a poor economy causes an increase in students. But I can also see how it could cause less students.
If people can't afford to cut back on work to attend school, it would make sense for nursing programs to experience a lower # of applicants.
Thoughts? What have you heard?

I think that "people are people and will behave as such" :) ...

It's hard to be positive in such a negative enviroment, a bad economy...so I would attribute lower enrollment numbers to uncertainty. Who would want to embark on something as daunting as nursing school in an unstable economy?

I enrolled in school (for the second time in this life) when the economy started to look a little sick. Things were still good and money was flowing. Most of the people I talked to thought "This will pass" and had no worries. Even my significant other thought I was a little nutty. I quit my job...a good paying job...and started working hours in a job that would accommodate school. I took a job at the hospital making much less then I was in my former life. I kept the end in mind and here I am...it feels like I am looking a the recession as one would look into a fish bowl.

My school will tell you enrollment is down and they did not raise tuition or boarding this year. People are uncertain...some students I know are talking about going back to work because "money is tight"

Bottom line here...this too shall pass...time goes on regardless of what we do with it.

My 2 cents :twocents: (1.65 cents adjusted for inflation)