Quitting a $$$ job to go back to school... Should I?!?

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I currently work in medical device sales. I make well over $100k... and hate EVERY SINGLE DAY of my job. I am 39, no kids. I have wanted to go to nursing school since starting in the medical sales industry in my mid-20's. My (now) XH discouraged me from quitting such a "good" job... blah, blah, blah.

I have enough money saved to support my fixed bills for about a year at this point, and would have at least another year to save while I work on my pre-req's. I have a BS in Nutrition and Food Science and need to take the pre-req's, as it's been forever. I would be 40-41 before I could even start RN school. My undergrad GPA is just under a 3.0, which is well below par and I need to retake these classes to obtain the most competitive GPA possible for admission to RN school.

My question? Do people obtain loans to support themselves through school, etc? I just can't seem to wrap my mind around how I can quit my job and to go to school. My goal would be to obtain my RN and then work (at least PT) and finish my BSN. In the future, I'd actually like to be a NP.

How do you guys do it?!? I need help... inspiration. This is what I want to do.

Thanks!

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If you hate every single day of your job and then I would say go for it.

There are plenty of options as far as loans go for people who are going into a second degree. In my Microbiology class there were around 5 people who had quit their current careers which included real estate and marketing to do a second degree and they used a variety of options such as private loans if you have good credit or if you are still able to get Federal student loans. So it's completely possible!

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Wow you must truly hate every single day at your job to be able to eagerly accept potentially taking a 50% pay cut in your near future. What is it that you do in your current profession and what is it that you dislike so much about the job? .... I am just curious.

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Sales. Totally get why you hate it.

Apply for scholarships and then get loans if need be. I'm using loans, but my school is cheap and we live cheap so we're not racking up a ton of debt. I also go to a community college so tuition is really inexpensive. I would suggest going to a community college to work on your prereqs.

My husband works full time as well. I'm trying to get a job, but there are many obstacles in they way of doing that.

Good luck to you.

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I work in Ortho/Sports Medicine. I am just not challenged. At all. The most satisfying part of my job is my contact with patients, which is fairly often with my product line. I can't imgaine still being a sales rep, or even a manager, in 10+ years. I see so many possibilities with nursing... acute care, private practice, case manager, administration, education, etc. I want a career and not just a well paying job. Maybe I'm nuts, but I'm completely dissatisfied as well.

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Specializes in Nursing Professional Development.

I am going to suggest you do something I heard a financial advisor on TV advise someone in a similar situation to do. (I think it was Suzi Orman, but am not sure.)

Don't quit your job yet, but financially pretend you did. Actually live on the income that you would have after you quit and see if you can do it. You asked, "How do people do it?" Well, a big part of that answer is that they scale back their expenses. Can you do that? Find out before you actually quit your job.

You say you have a year's expenses saved up now. That's really not very much when you think about it in this context. Assuming you have had a really good income for more than a couple of years ... you must be actually spending a lot of the money you earn. I'm not saying you have been spending it foolishly or anything, just that you have had a lifestyle consistent with that level of income. Before you "shut off" that income, you need to see if you can actually live on what's left.

So ... take your paychecks and put most of them aside. Try to live on only the amount that you will have available after you quit your job (assume that you'll take some out of your savings to augment your husband's income). See how low you can get your monthly expenses. That will give you a better estimate as to the size of any loans you will need to take out. Remember too that when you graduate from nursing school, you will not get a job paying 100K -- and that you will then have loans to pay back on that lower salary. So .... the net result is that you will have to lower your standard of living in the long run after graduating because you will be earning significantly less per year and having to use some of that income to pay back your loans. Will you and your husband be happy with that lower standard of living. Will you be able to keep the same house? -- drive similar cars? -- take similar vacations? etc.

By doing the above for a few months, it will give you a look at the lifestyle your plan will give you in the future. You'll see what it is like to have to live within your lowered income (and using some of your income to pay back loans). How do you and your husband like that lifestyle? Is it OK for you? If so, then go ahead. If not, delay nursing school a little longer and save up more money so that you won't need loans. etc. etc.

Oh ... and BTW ... as you are doing my plan for those few months ... the portion of your paycheck that you set aside will add very nicely to your savings. If you can do "my plan" for a year or so, you might find you don't need any loans at all!

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I'm so glad to see this!!

I just joined this forum to ask basically the same question.

I have a BS and MS in a technical field and work in I.T. but I am thinking about going into nursing. I've looked up pay grades and it seems like I'd be cutting my yearly salary in half.

The idea scares me but excites me. I am glad that I took chemistry in undergrad but I need the other pre-reqs including Biology since its a pre-req for the pre-reqs.

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Just throwing an idea out there - is there any way you could get into a part-time gig while in nursing school using your expertise and skills? Maybe as a consultant or something like that? That way you're not working as much but you're still making good money.

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Specializes in being a Credible Source.

Go in with your eyes wide open: There is fierce competition for new-grad nursing jobs and many, MANY excellent candidates are unable to find work.

Be sure that your budget includes the very real possibility of protracted unemployment/underemployment following your new RN license.

Likewise, make sure you really understand what life is like for many nurses. I'm sure there are a great number of them who would gladly trade places with you.

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I am in Jax, FL and from what I understand FSCJ has a track of their ADN program that allows students to complete both academic and clinicals at night and on the weekends, and I would guess admission is quite competitive. I could continue to work in my current field as I complete my pre-req's and possibly for a while as an actual RN student and continue to save $$$.

Combing through the posts on this site has opened my eyes to the scenario with nurses, particularly with no experience, and a possible limitation in employment opportunities. Yes, I realize I will make considerably less as an RN than a medical device rep, BUT I can't see myself in sales at 50. I could DEFINITELY see myself as an RN at 50, and well beyond! What I realize is that I want a career and not just a job.

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Specializes in Critical Care Hopeful.
I am in Jax, FL and from what I understand FSCJ has a track of their ADN program that allows students to complete both academic and clinicals at night and on the weekends, and I would guess admission is quite competitive. I could continue to work in my current field as I complete my pre-req's and possibly for a while as an actual RN student and continue to save $$$.

Combing through the posts on this site has opened my eyes to the scenario with nurses, particularly with no experience, and a possible limitation in employment opportunities. Yes, I realize I will make considerably less as an RN than a medical device rep, BUT I can't see myself in sales at 50. I could DEFINITELY see myself as an RN at 50, and well beyond! What I realize is that I want a career and not just a job.

I am in exactly the same boat as you now. Well paying job, good benefits, AND COMPLETELY MISERABLE. I too also have a four year degree (a BS in information security). I have looked at all my options and I will DEFINITELY be leaving the field.

The way I am doing it is that I will take all my prereqs this fall, in the spring, and in the summer if needed. I am applying to nursing school for admittance in fall of 2011. I know that I will need one additional class that I will take at the nursing school online during fall of 2011. Then in January of 2012 I will be starting an accelerated RN program. This is a track for individuals such as ourselves who are looking to enter the field and already have a four year degree. The benefit is that, except for some science prereqs, I have virtually no additional classes to take except my nursing classes. I will be taking nursing classes from January 2012-December 2012 (including all clinicals) AND WILL BE DONE. This is a very intensive way of doing it and I won't be able to work in 2012 at all.

However, I will work through all my prereq work up until the beginning of January 2012 to save as much as possible. I am then taking out a loan from my credit union to cover tuition, books, fees, a computer, and rent for the full year (I can get a 4% interest educational loan from my credit union that I can defer payment on until 6 months after graduation). My fiancee and I will be looking for part time jobs and only take a day or two a week (if I can manage even that at all) just to pay for utilities and food. During 2012 we will cut all of our expenses down to the bare minimum.

I have seen other posters here already mention evaluating if you can manage on a significantly reduced budget before making the plunge. I agree completely with this and would also add that you need to pay off ALL debts first as well. No credit card debt at all and lock those things up while in school. Get used to the idea (if you aren't already.... I know we don't know each other :)) that if you can't pay cash for something then you don't buy it and if you don't NEED something don't buy it either. I always had a really tough time with impulse buying but have gotten a lot better with a lot of hard discipline and conditioning of myself (although I still occassionally buy a toy I don't really need lol).

Hope all this helps. Above all else, start talking to your bank or credit union and the financial aid offices at the schools you are considering. You will most likely not get a cent of money from need based scholarships but there are grants and other specialty scholarships out there that you may qualify for.

If you can reduce your expenses, the amount of time that you cannot work full time, and you work your butt off you can definitely accomplish this. The real question is.... just how much do you hate your current job? Will the sacrifices you have to make to do this be worth it for you in the long run? That should be your determining factor.

Good luck!

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In this economy it's a risky business to give up a job, especially a good paying one like yours. I would talk to my boss about working a parttime or flex schedule and take everything I could around that or online. I lost my job in 2008 and I won't even be starting RN school until January. Then it's 2 years b4 I can really work and make a decent living. Good luck to you.

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