I am wondering if there are any NPs that can advise me on student debt.
I would like to pursue an entry level masters program to become a family nurse practitioner - however all of the options are very expensive and I would have to take out a very significant student loan.
I have done a lot of financial planning, and it that seems worse case scenario - I would be paying the loans off on an Income-base repayment plan for 20 years.
For those of you with outstanding student debt - how much of an impact does it have on your life? For example - does it affect things like buying a house, starting a family, and other big life decisions..?
Specializes in Psychiatric and Mental Health NP (PMHNP).
On 7/9/2019 at 6:01 PM, Rionoir said:
Just for some perspective on this: You could relocate to somewhere that ADN programs aren’t so competitive, buy a house with that $175k, and pay $1500 a semester for an ADN, and have your employer pay for the rest of your education (at least a good portion of it).
i know some people really don’t want to move, but I haven’t even finished school yet and already have a job at the largest hospital in the state and almost no debt. Combined with a much lower cost of living .. I mean .. California can’t be worth all that ?
I would not advise buying a house until the OP has completed her NP program and knows exactly where she wants to live. It generally does not pay off to buy a house and live in it for less than 5 years - doing so can actually result in a net loss. In addition, getting an RN job is different than getting an NP job. Many new grad NPs will have to relocate to get a good job.
As I previously wrote, there are very affordable parts of California. Our community colleges are among the cheapest in the country and are excellent.
There are plenty of RN jobs in California and they pay very well as California RNs have a union which also provides them with good working conditions.
It is an entry level masters for non-nurses, so includes pre-licensure training and NP training. The cost of the entire program is 175,000.
Just curious what is the average cost of an NP degree? I’ve compared many programs and most entry level masters are only offered at private schools and cost about the same.
Thanks!
I plan to apply to the program at the same college where I'm pursuing my BSN- but after working as an RN for a while. Tuition is around $3K per semester so looking at $12K debt for the program plus books. The other program I'm interested in is at a Southern Ivy-league college and is about $15K per semester and would likely land me a higher-paying position (not a FNP program but an APRN program). $175K is INSANE.
I entered the ABSN program at age 36 and still feel that I have PLENTY of time to have a solid long career.
Same here. So, to OP, 30 isn't exactly an age where you need to play catch-up. You could use your 30s to invest wisely for retirement/529s instead of putting yourself into debt. Getting a nursing degree is a good return on investment so long as you don't spend an abnormal amount of money on it. Also, the fact that a program even exists like the one you're describing scares me a little. Unless I was getting Botox injected, I wouldn't want an inexperienced NP for my provider. Just my two cents.
I definitely agree with whoever suggested PA school. If becoming a practitioner is your end goal, that may be a more direct/cost efficient route (although PA school is definitely not cheap). But I would definitely not suggest taking out 175,000 in loans. I did an accelerated BSN program and took out $50,000 in loans and am kicking myself for it. The interest adds up and it will take me a while to pay it off. Should have just gone to community college for an ADN. Also, do not by any means bank on a loan forgiveness program to bail you out. I had that mindset when I was going through school, but there are so many stipulations involved with those that it's usually never an option. Not to mention that government funded loan forgiveness programs are not guaranteed, and can be cancelled.
I would not advise buying a house until the OP has completed her NP program and knows exactly where she wants to live. It generally does not pay off to buy a house and live in it for less than 5 years - doing so can actually result in a net loss. In addition, getting an RN job is different than getting an NP job. Many new grad NPs will have to relocate to get a good job.
As I previously wrote, there are very affordable parts of California. Our community colleges are among the cheapest in the country and are excellent.
There are plenty of RN jobs in California and they pay very well as California RNs have a union which also provides them with good working conditions.
I was just putting that amount of money into perspective, not recommending actually buying a house, just to be clear. lol
You are also young enough for the military. If you already have a college degree, you can join as an officer and the military could pay for nursing school. Or you could get your RN, join the military, and then they would pay for NP school. It might be worth talking to a recruiter.
While this is a good suggestion, talk to a recruiter first before putting your all of your eggs in this basket. Military nursing is very hard to get into. If your interested in that line, go to that thread and read
It is an entry level masters for non-nurses, so includes pre-licensure training and NP training. The cost of the entire program is 175,000.
Just curious what is the average cost of an NP degree? I’ve compared many programs and most entry level masters are only offered at private schools and cost about the same.
Thanks!
I was in the same boat...I had incurred debt from previous degrees...had barely made a dent in it over my 5 year engineering career. I ultimately decided on an accelerated BSN. That way I can work on my NP while working as an RN. Also if you do your BSN first you can do your MSN at a state school and save some $$$
There is no southern Ivy League university or college.
People use the term “Southern Ivy” a lot though, to refer to schools like Vanderbilt. (Old, private, prestigious Southern schools.) I think that’s what the OP was doing, not literally saying an Ivy League school in the south.
What is your opposition to getting a traditional BSN, working a year or two and then entering a masters program whilst working PRN or Full-time?
I believe that although a nurse practitioner is a provider, they are still a nurse. A nurse is a nurse. You don’t learn to be a nurse in nursing school, you learn it in the role of a nurse. At the bedside in the ICU, at someone’s home as a home health nurse, in the trenches of the ED, in the public school system.
I always find it unsettling when these people want to go from nothing to an NP, let’s skip learning being a nurse.
Some will way, oh well you don’t have to be a nurse at bedside to learn to be a provider, that may be true. However first of all, from what I’ve gathered people already feel that NP education lacks - so just imagine the inexperience you’ll feel as an NP without a lick of intuition or bedside knowledge.
However most importantly, NPs are still nurses. That’s what makes NP unique and different than say PAs.
If if you want to be just a provider, then go to PA school.
Specializes in Psychiatric and Mental Health NP (PMHNP).
35 minutes ago, CardiacDork said:
What is your opposition to getting a traditional BSN, working a year or two and then entering a masters program whilst working PRN or Full-time?
I believe that although a nurse practitioner is a provider, they are still a nurse. A nurse is a nurse. You don’t learn to be a nurse in nursing school, you learn it in the role of a nurse. At the bedside in the ICU, at someone’s home as a home health nurse, in the trenches of the ED, in the public school system.
I always find it unsettling when these people want to go from nothing to an NP, let’s skip learning being a nurse.
Some will way, oh well you don’t have to be a nurse at bedside to learn to be a provider, that may be true. However first of all, from what I’ve gathered people already feel that NP education lacks - so just imagine the inexperience you’ll feel as an NP without a lick of intuition or bedside knowledge.
However most importantly, NPs are still nurses. That’s what makes NP unique and different than say PAs.
If if you want to be just a provider, then go to PA school.
This topic has been beaten to death endlessly on this forum. This OP wants to be an FNP. FNP = primary care. Being an RN will not be of much benefit in this situation. That is why there are direct to NP programs for PRIMARY CARE ONLY. Acute care NPs must work as RNs first and that makes sense.
While there hasn't been much research done on this, what has been done suggests that being an RN is not of benefit to working as a primary care NP. In fact, in one study, when NPs were evaluated by MDs on their PE skills, the NPs w/o RN experience were evaluated as more proficient by MDs. I am not going to rehash all of this on this thread.
I am one of those who went direct from ABSN to AGPCNP. I am doing just fine, thank you.
This forum is full of posts from former RNs who became NPs who ended up very unhappy for a variety of reasons:
1) Making less money as a new grad NP than they did as an experienced RN
2) Not used to the M-F 8 hour day of a typical primary care NP and wanting the 3 12-hour shifts per week
3) Not feeling comfortable in the provider role as the one responsible for assessing, diagnosing, ordering tests, and developing treatment plans and clinging to continuing to work as an RN
The NP role was originally envisioned as a primary care role, focused on working in underserved areas such as smaller towns and rural areas. This is a role that traces its roots back to CNMs, and is the model used in countries like Australia for serving the remote outback areas. (Watch the old classic movie Sister Kenney with Rosalind Russell for a great depiction of this - based on a true story). The PA role was originally designed as an acute care role with a heavy focus on procedures. At this time, the roles have become more interchangeable, but they have different foundations.
FullGlass, BSN, MSN, NP
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I would not advise buying a house until the OP has completed her NP program and knows exactly where she wants to live. It generally does not pay off to buy a house and live in it for less than 5 years - doing so can actually result in a net loss. In addition, getting an RN job is different than getting an NP job. Many new grad NPs will have to relocate to get a good job.
As I previously wrote, there are very affordable parts of California. Our community colleges are among the cheapest in the country and are excellent.
There are plenty of RN jobs in California and they pay very well as California RNs have a union which also provides them with good working conditions.