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..?
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.
Thanks so much for your honesty and evidence based response. It’s really great to hear your perspective!
You are not a nurse, not in the healthcare field, and you think you want to be an FNP. It's really a huge leap. Not impossible, but a huge leap.
I have written about this before, but you will also have to do extensive self preparation beyond the NP program to be comfortable with a prescription pad.
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.
Very interesting to read all of this. I learned something; thanks for sharing.
"We’ve done over 2,000 consults and advised on over $500,000,000 of student debt here at Student Loan Planner. Our experience shows there are two optimal ways for DNPs to pay off student loans:
Aggressive Pay Back: For people who owe 1.5 times their income or less (e.g. a nurse practitioner who makes $100,000 with loans at $150,000 or less), their best bet could be to throw every dollar they can find into paying back their loans as fast as possible, in 10 years or less. NPs should be sure to look at their PSLF options before refinancing. Often this includes refinancing student loans to get a better interest rate.
Pay the least amount possible: For nurse practitioners who owe more than twice their income (e.g., $100,000 salary and $200,000 or more in student loans), the goal is to get on an income-driven repayment plan that will keep payments low and maximize loan forgiveness, whether it’s through PSLF or taxable loan forgiveness."
The best advice is still to minimize your debt before you need professional advice on managing the debt. Do you ever listen to Dave Ramsey? He talks about school loans quite a bit.
It still seems like the program you are talking about is insanely expensive just to save a couple years. Make sure you take a look at what your payments are going to be, and what you can realistically expect to earn in your area after graduating.
I don't know if this is ok to post, but I have been following someone on instagram who had a non-nursing undergraduate degree and went into a direct entry RN-NP school. She specialized in PCPNP. If you'd like to read about her journey and the struggles she had because she lacked her RN and experience first, her IG name is katybpnp.
Note: Her success is partly because she lives around San Fran CA so the NPs seem to be in more demand there, she was offered the job she wanted shortly after graduation. Her success is also in part because of her personality and perseverance. So it is possible to do it this way, but not for everyone.
Regarding loans and debt, yeah that is a scary figure you're looking at and in this case I do agree with what others are saying about to consider the PA route, but it's your decision, wishing you the best!
The best advice is still to minimize your debt before you need professional advice on managing the debt. Do you ever listen to Dave Ramsey? He talks about school loans quite a bit.
It still seems like the program you are talking about is insanely expensive just to save a couple years. Make sure you take a look at what your payments are going to be, and what you can realistically expect to earn in your area after graduating.
Do you have any links to Dave Ramsey info? I'm off topic here but I need to save for a few things around the house and I keep hearing about him. Any links/info would be helpful.
Do you have any links to Dave Ramsey info? I'm off topic here but I need to save for a few things around the house and I keep hearing about him. Any links/info would be helpful.
If you download the iHeartRadio app you can get his show on podcast there, that’s the only way I know to listen to it.
Do you have any links to Dave Ramsey info? I'm off topic here but I need to save for a few things around the house and I keep hearing about him. Any links/info would be helpful.
jnniemeyer
26 Posts
Thanks so much for your honesty and evidence based response. It’s really great to hear your perspective!