are student loans worth a nursing education

[kjj007]

I am excited about starting prerequisites next semester, but I still have this fear in the pit of my stomach regarding the student loans I am about to take on. I am finishing my masters in public affairs in May, but have decided that that degree really holds no job prospects at this time and to pursue a career in nursing. I have always loved science and problem solving and thought that nursing would fulfill all my best attributes. I will have some debt with my masters degree and my nursing degree will add an additional $60,000 for my ABSN. My husband has a great job as an engineer, but we want to have a strong income for our household in the future to save for our sons future and our future children's future. I have talked to many people and they have said the debt is a lot but that it is an investment into yourself and that it will be worth it long-term. It just scares me to think about the grand total of debt that will be accumulated. I'm also worried about my ability to work a night shift. It seems tough on the body. When I take out these items the thought of pursuing a nursing degree is so exciting and I cannot wait. I am excited about all the classes and I think I will do really well. Any advice from any nurses, pre-nurses or others that have just entered into the workforce?

[kjj007]

I plan on completing a lot of the prerequisites at a community college. I am planning on applying to as many scholarships as I can. I most likely won't qualify for federal grant money as this will be my second bachelors.

[cutekittenj]

I love your idea of becoming nurse to make a better future for you children. However like everyone else is saying be careful about getting loans. They can bring a financial hardship because with the amount you have now plus the loans you will get will probably make your loan repayment $500 a month. That is way too much money and it really is hard to find a job as a nurse.

I have a few people who have been out of nursing school for 6 months and still have not found a job and are having a hard time making their loan payments. The ones who have jobs are struggling because of having student loan debt(me included). I honestly would recommend saving some money to help pay for as much as you can without loans. Trust me. Nursing is a wonderful field and I love it but the loan debt is not worth it. I'm definitely not knocking your idea but I don't want you in debt and struggling.

[ktliz]

I see this as a very personal decision that requires weighing your desire to be a nurse vs. the lifestyle you want to lead. Its possible to live modestly but comfortably while you pay down your debt.

My boyfriend and I have a decent chunk of student loan debt from undergrad, and I'm planning to take out another 50k for my Accelerated BSN program. Ultimately, our combined student loans payments will be equal to a small mortgage. However, if I double my current income without doubling my expenses, the difference can go toward paying off loans ahead of schedule. And I'll be a nurse, which will make me happy. :)

But, like I said, its a personal decision and this is just my situation. I don't have children or plan on having children in the near future. Children tend to change things a bit!

[fleurafor]

i hope so bc I took out a ton! it better be worth it!

[RLtinker, LPN]

Where are you going that is is going to cost 60K? I don't know if you can do it with a masters but you might want to look into a BS to BSN program? They are usually shorter than a traditional program. I know that IU has one and there are a few other schools that do too.

[ImThatGuy, BSN, RN]

I'm not going to sugarcoat this, but I think you'd be nuts to take on $60,000 in debt for ANY nursing degree.

Where are you at? You could get an associate's in nursing here for about $9,000 from start to finish with all prereqs included.

My BSN (my 2nd degree) with 60 hours of nursing department courses only will cost me 3,330 x 4 plus books. I still think that's too much to drop really, but since I'm paying as a I go it doesn't seem, psychologically, like 14,000.

[whitfield]

I am planning to go back for my ABSN soon and have looked at schools all across the nation. Most places where you have to spend 50K+ are places like Hopkins, Duke, etc. There are LOTS of other ways to get the same education without having to shell out a small fortune. I understand that you may not be able to move because of your husband's job, so that could limit your options, but 60K is a lot of money for a degree that many people get at around 1/3 of that cost.

I have several friends who got their ADN at a cheaper place and then used a RN-BSN bridge program to get the BSN (assuming you want/need the BSN). This is a great way to quickly get your education. Plus you are already working as an RN while in the bridge program.

Have you considered if you plan to pursue your MSN? Taking out a 60k loan for your BSN will definitely hinder you from being able to afford your MSN sooner rather than later. If you really are set on getting that bachelors in 16 months AND there are not cheaper schools AND you don't plan on pursing a MSN anytime soon, then you might be fine with the 60K loan. If anything in that previous sentence isn't the case, then I would definitely urge you to explore your options a little more before deciding on anything.

One more thought... if you do want your MSN and plan on getting in quickly after your BSN, then there are some alternate-entry MSN programs (much like the ABSN programs) that you should look at. It's worth checking out the AE-MSN programs just so you're at least informed about them, even if you end up still going the ABSN route.

Hope everything works out!

[GoogleMD]

I was wondering if you had a follow up since I am in a similar situation. Did you make any final decisions and any thoughts looking back four years.