I've been considering going into nursing and naturally, finances come into play. For me this would be a second career move and I would need to take some pre-reqs and then apply to nursing programs.
I already have about $35k in student loans from my previous BA. For me to go through with nursing, worse case scenario i would have to borrow about $20k-$30k more depending if I go to a public school - much more if i go to a private school.
So a conservative estimate, i calculate I will have about $55/60K of total debt when I get out of nursing school. The average salary for new nurses seem to be about $25/hr or about $45k/yr or so before taxes. I basically make about this much currently. Furthermore, although job prospects are still strong, the salaries don't seem to really rise much for nurses (unless you go with a NP/CRNA route - please correct me if Im wrong). I know there are scholarships and other programs out there but I'm not counting on being awarded with any of them as a worse case scenario.
When I graduate, I will be nearly 30 yrs old, and will literally have nothing to my name but a truck full of debt. I would love to pursue this field but frankly, the thought of taking on this much debt is frightening. Not quite sure what to do. I mean by no means am I trying to get rich or anything. I just want to make sure I can get by without living pay check to pay check.
How are you all making out financially? Is it getting harder and harder to get by as a nurse these days?
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!
I'm definitely going to consider the adn route. Times are definitely getting rough these days. I just hope that the CC that has the program may have a long waitlist.
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!
I looked into rn to MSN programs and found one in my area. They specifically addressed people in my situation who may be an RN but dont necessarily have a BSN. Thanks for the info, i didnt even know that these transition programs were out there. Really appreciate it!
some schools also have adn-msn programs...that's my big thing. Why stop through the extra degree when you plan on getting your master's anyways? Seriously, BSN will take longer and cost more, so there's that aspect to consider. I'll graduate with about 30,000 in debt from school, so it'll take some time to pay off....but if you make a plan, you CAN do it.
I enrolled in the local ADN program because among other things, I didn't want to take out any loans.
But you know what? I am now considering dropping out, biting the bullet, and applying for the closest Accelerated BSN program.
In my case, principle on loan would be a little less than the $45K/yr starting wages. There are also loan repayment contracts we can enter with a number of hospitals. That makes it more palatable. Maybe you can see if there is something similar at the schools you are considering.
Agrippa
490 Posts
I'm definitely going to consider the adn route. Times are definitely getting rough these days. I just hope that the CC that has the program may have a long waitlist.