WEEKEND TO DECIDE - MSN, CNL, Accreditation, ABSN OH MY! - page 2

Hi all you helpful people! I have to make a big decision this weekend! I got accepted into 2 programs, University of Rochester ABSN (1 year) and Seton Hall University MSN CNL (2 year). I... Read More

  1. by   charisma00
    Quote from caliotter3
    Imagine having all that debt and discovering that for whatever reason, nursing is not viable for you. The debt will not disappear should the dream dissipate.
    I know.. So what I am getting is that I should wait to apply again to get into cheaper schools? I know nursing is for me, I've been working with nurses for 9 years. Originally I was comparing due to the fact that both programs will require me to be in the same amount of debt. I have never taken out loans before and right now these schools are the only two acceptance I have. Do you think I should wait to get something cheaper?
  2. by   MiladyMalarkey
    Quote from charisma00
    Do you think I should wait to get something cheaper?
    My humble opinion is wait it out. 100k in student loans, on a RN salary could take you YEARS, if not a couple decades to pay off. 100k in student loans also comes with interest, you'll probably pay at least half that in interest when all is said in done. To put that in perspectives, 100k (not taking in consideration the interest) is probably just under 2/3's the cost of attending law school and about 1/4-1/3 the cost of attending med school. I've seen RN programs anywhere from 4k (ADN at a CC) to about 50ishK at a state university (BSN).

    Also, consider, even if you get your MSN with that 100k in loans, do you think any DNP school/private lender will want to lend you MORE money for a DNP if your're carrying a significant loan balance like that already?

    Unless you come from a wealthy family, which I'm guessing you may not since you are talking about taking out loans, I'd say save yourself the grief of so much debt. I wish you luck.