The economics of nursing school

rockenmomRN · Mar 4, 2008

Agrippa, where do you live? New grad rates are about 30 dollars an hour plus a night shift diff of about 4 bucks an hour. Those prices are here in southern cali where thats considered somewhat low. Call around to hospitals in your area, ask to speak to the nurse recruiter. Specifically ask about what the new grad rate is. Its a hard question to ask, but they will alway answer. They'll say will you have a bsn or an adn, a bsn adds about one dollar an hour maybe a little more. any how let me know if this helps.

NoviceRN10 · Mar 4, 2008

I chose to go to a community college. My degree there will cost me around $4600. Well, add to that the textbooks and uniform/supplies and it's still less than $8,000. If you are already paying off several thousand dollars in student loans I would think basing your school choice on tuition rates would be a smart idea.

Agrippa · Mar 4, 2008

I chose to go to a community college. My degree there will cost me around $4600. Well, add to that the textbooks and uniform/supplies and it's still less than $8,000. If you are already paying off several thousand dollars in student loans I would think basing your school choice on tuition rates would be a smart idea.

Finances definitely come to play. The cc only have associate degrees and not BSNs. I would like to get a BSN to keep my options open in terms of obtaining further education down the road. So I would deff not go to a private school unless they gave me a great scholarship. Its already tough getting by while paying for my previous loans. If i do go into nursing I will have to take on more debt, loose at least 3 years of income, and basically start from the bottom again - which i dont have a problem with. I guess I just want to know if I can get by OK when all is done with.

caliwannabenurse · Mar 4, 2008

You could go to a community college to get your ADN and then finish at a university to get your BSN. You will save loads of money that way.

And apply for financial aid. Every little bit helps.

Agrippa · Mar 4, 2008

Ive been considering the possibility of going to community college to just get an Associates degree to be able to become an RN. but part of me feels like if im going back to school, I might as well go for a BSN. I suppose Im in a little bit of a dilemma.

MySimplePlan · Mar 4, 2008

Ive been considering the possibility of going to community college to just get an Associates degree to be able to become an RN. but part of me feels like if im going back to school, I might as well go for a BSN. I suppose Im in a little bit of a dilemma.

Many hospitals pay for the BSN completion if you have an ADN degree - it's something you look for in the benefit package. Some even have the teaching staff come right to the hospital 1-2 nights/weeks for the nursing classes. Many ADN's start these degrees right after their graduations with summer classes. (me, I need a break!) So, you may take a year longer to wrap it all up with the BSN in your back pocket, but you've not racked up as much debt as you might staying in a 4 year program and living on loan funds as you complete school.

Good luck in whatever you decide.

goodstudentnowRN · Mar 4, 2008

Agrippa,

It will be well worth it. I have to take student loan to complete my nursing degree and I am not the least worried. I am looking farword to graduate next year and my monthly loan payment is 186.00.

Agrippa · Mar 4, 2008

Agrippa,
It will be well worth it. I have to take student loan to complete my nursing degree and I am not the least worried. I am looking farword to graduate next year and my monthly loan payment is 186.00.

Im sure the career is worth it and is why im thinking about making this drastic change. The thing is, I'll probably have close to $300 min monthly payment on a 30 yr plan after i finish with a BSN as I already have a bachelors.

marilynmom, LPN, NP · Mar 4, 2008

If you want your BSN then go for that. I know I wouldn't have the time or the patience to go from ADN-BSN...ugh. I work in an ICU and we have so many classes we have to take for that the first year there is no way I would have time to do a RN-BSN program on top of that.

Since you already have a BA in another field have you looked into an advanced BSN program? That was the first thing that popped into my head when I read your post.

I'm graduating with my BSN in May and am 34 years old with 2 kids and a husband. I choose to take out students loans (mainly for living expenses, my tuition wasn't much because I go to a state school I pay about $1800 a semester). I am SOOOOOOO glad I did it!!! And I have my BSN so I can just move forward with my NP schooling in a couple of years.

Also, once you are done with your first semester of nursing school and definitely between your junior and senior year of nursing you can work as a nurse tech/extern in a hospital which is amazing experience and can help pay for school (a lot have scholarships, etc). I work in an ICU, I love it and plan on staying and they are giving me $4000 to stay on. The VA has excellent benefits as well and can pay back like $45K of student loans, Public Health Corp will also pay back loans, Indian Health, etc. So that is something to keep in mind. It just depends on what you want to do. Most hospitals (the bigger ones) have scholarship programs for nursing students....most of my classmates got one.

Don't let the fear of student debt hold you back. You can also do travel nursing (talk about making the big bucks!) after a year or two of experience (I have a LOT of friends who do that and love it, some even have families), there is also agency work and contracts (some will run like 13 weeks and you can paid a LOT of money to do that).

There are ways to make a lot of money as a nurse after you have a year or two of experience.

caliotter3 · Mar 4, 2008

I worked a full time job and as many part time jobs as I could conjure up throughout all of nursing school. I also applied for every scholarship and grant that I found, although none of them awarded me anything. I took out student loans through the government. My major source of funding though, was through my jobs. It wasn't easy, but lots of people do this and so can you. You just have to get very organized and make certain that you manage your health and your workload accordingly. Don't allow yourself to go into overload. I suggest no more than one full time job. My part time jobs were more of a hinderance than a help. Good luck.

futurecnm · Mar 4, 2008

I would definatly do the ADN route. I also have a previous bachelors degree and would have loved to get a BSN in nursing. I looked into the accelerated program and at more than $25,000 there was no way I was going to put my family in that much debt for $1 more per hour on the job as a RN. I would love to get my BSN and masters, of course, but you have to look at the practical side of things. Yes it is nice to have, but is it worth the many thousands of dollars? Not to me. I will get a job with tuition assistance and get my BSN in time. Yes, it will probably take longer but I will not be putting myself or my family in a bad position financially. I will still get to my goal. Plus, this way I can work and decide what area I want to get my masters in as well. Also, if you have a bachelors degree already you can most likey take a few extra classes to get in a RN to MSN program and bypass the BSN route altogether. I know I've heard of that route. My total nursing education was less thatn $8000 and I have paid as I go, so I will be debt free. Hope you can find a route that works for you and your finances!