The big D---Debt.

Nurses General Nursing

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there are very limited/competitive bsn programs here in new orleans. i spent most of my college career doing my pre-reqs elsewhere and then applying to the well-known programs. charity is adn--and frankly, i've gone too far in my pre-reqs to turn back now for an associates. lsu has different pre-req requirements, so that's out-unless i want to take several classes over. those 2 programs are the only affordable options for me, but i have been accepted for the our lady of holy cross bsn program starting in august, tuition is roughly 16k a year. the point of this post is that, of course, i went to the cheapest school ever to do my pre-reqs but still accepted loans (it was a situation where i sort of had to), so i'm already entering with 30k in debt. olhcc is expensive...i am calculating that when all is said and done, i will owe roughly 70k. my soul dies a little more each time i say it out loud, but what am i supposed to do now? i was accepted somewhere, and in 3 years, i will be a rn bsn. i've never even had a car note, so i'm consistently worrying about the debt when i come out. i don't want to starve to death. i just need someone to tell me that i will be ok. that if i'm willing to work my a$$ off via prn and float shifts etc...that i can do this. i don't have children/car note/other debts, and i intend on seeking my msn as well. i am also considering the navel nurse officer program, and am open to any programs seeking my time in exchange for repayment of a % of my loans. will i be ok?

Specializes in ICU.
Yes, it was an Ivy League school. She regrets racking up so much debt and doesn't think her school was worth anything close to what she paid for it.

Johns Hopkins is charging $98k a year for accelerated BSN. Mind you accelerated is still a year and a half. And the cost of pre-reqs is still ~40k a year.

How in the world do you pay for that with a nurses salary???

Specializes in geriatrics.

When I decided to go back to school at 32, I weighed the costs of my living expenses and debt. I used my savings in addition to taking out 35,000 in loans. That freaks me out enough. There is no way I would consider going any higher than 40,000 in debt at that age. With interest payments, you'll never pay off 80 to 100 k and have enough savings AND a life.

Currently, I owe 23 600 one year out of school, and I make close to 80 k, so that's totally doable. But as people have said, your debt should factor in how much you'll make as an RN, your age, and living expenses. My minimum payment is 300 a month, but I have no intention of dragging it out for longer than 2 more years, so I pay more. If managed properly, debt is ok...otherwise it's a nightmare.

I don't understand why some people who have options (might not be the best or easiest options, but they are still perfectly good options) still prefer the one with the most risks...just for the sake of convenience. This is one of the reasons why America is in the financial state it's in...people are not willing to accept cheaper options, wait, and/or live within their means. This isn't an attack on you OP, I just have to be honest with you. You are saying that waiting for one year is not an option. But for the life of me I don't understand why you would even want to accept 70 k in debt for at least the next 20 to 30 years!!! If you go to the Community college, you will still be an RN! And you will be at an advantage because you can get your employer to actually help you PAY for your BSN. *think about it* You are literally giving up a very sweet deal to accept a 'prison sentence'. At most, if you take the RN to BSN route...it will take a few years, but you will see a quick cash return of your choice and you will not regret it. But blindly choosing to walk into 70,000 dollars with no absolute way of making sure it will be paid off is really dumb and you will be a financial slave for years to come.... all because you couldn't wait for 365 days.

I agree with this. Why not take the year off (while you are waiting) to work for a little money? Stop the partying, pull your life together and get a nice little savings account going for the next year. IMHO, it's not a really hard decision. You are either going to go the smart way or the fast way. Either way, you are going to end up paying for it. Either in 1 years worth of waiting or a debt that will take you many, many years to pay off. Not a real tough decision when you think about it.

Specializes in geriatrics.

I second living within your means. If you can't afford it, don't do it. Consider this....when saying you don't want to wait for a year, you might come out of school owing 70 000, and no job for one year.

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