<p>My D has been accepted at three very good grad programs to become a Nurse Practitioner. One of the programs is an Ivy school with a ranking of 20 for the program. It is in an undesirable location for her and the program starts days after her graduation from undergrad.
Another acceptance came from the number one program in the country. Also in an undesirable location but it starts in the fall (so that's better).
The third option is a smaller program in a great location. It is ranked in the top 12% for programs of it's kind and it is the area that she wants to eventually practice. It is near her family and friends.</p>
<p>The first two programs (Ivy and number one in the country) consider the grad program to be partly an undergrad program leading to masters program. Because of this, she would not qualify for government loans (for the BSN portion of the program) and would need to borrow a large sum of money through private loans. These loans would not be eligible for loan forgiveness later (as the government one would because she is going into a public service field, etc.)
They are also not deferable.</p>
<p>The third, smaller program treats the whole program as a grad level program and she would be eligible for government loans for the entire tuition and fees.</p>
<p>My feeling is that her gut is telling her to go with the smaller program near home. Holding her back is the feeling that it is crazy to turn down the number one program in the country and an Ivy league school. Others (some friends and family members) are encouraging her to attend the well known programs. </p>
<p>To those of you who are more savvy with financial matters than I, am I right in being concerned that she would need to take out large amounts of money in private loans for the Ivy and the number one programs? </p>
<p>Unlike some professions, the field of nurse practitioner is not particularly prone to school snobbery. From my research it does not matter much in the long run where you went to school as long as it is a reputable program. Because of this, I would like her to go to the smaller school near home. I am afraid that part of my motivation is selfish because I want her nearby! Am I wrong NOT to encourage her to go to the best program? </p>
<p>Ignoring the differences in type of debt, what is the total debt she’d have with each of the three programs?</p>
<p>Relying on government loan forgiveness may be somewhat risky; the new budget proposals impose some significant restrictions on the public service loan programs. </p>
<p>This is your answer. The close-to-home option makes the most sense. It’s not being selfish to want to be near your daughter. And with what you potentially save on her degree, you’ll be in a better position to help her out for other things (down payment on her first home, wedding, or whatever).</p>
<p>I sense that SHE wants the closer to home option but feels that pressure to go to the big names. The total debt is significant. It will be equivalent to her annual income when first employed. We will help her a bit for any of the schools but financed her entire undergrad so money is limited. The Ivy is in NY and we suspect that will increase her cost of living significantly if she goes there.
The tuition for the three programs is about the same. The qualifying factors are that the top two will require significant private loans and are in undesirable locations without family support.
The third one (the one I suspect that her heart is at) is lower ranked but her would be financed 100% through government loans.</p>
<p>Edit to add: We are not counting on loan forgiveness in the future. Just hopeful and would like it to be an option for her if it is still available.</p>
<p>The question I would also be asking is what program is best for getting into the career and job location that she wants to pursue? Where do the graduates of each school end up working? The career center of each school should be able to tell you. </p>
<p>You mentioned that the two of the schools are in a undesirable location. Is this a reference to safety or employment possibilities? While safety always is a factor remember that she is no longer a freshly minted teenaged high school graduate but a young adult college graduate,</p>
<p>At the end of the day she will be an NP. I, too, think the close-to-home and ability to secure loans if needed is the best choice. Plus if she’s going to stay in the area to practice, the school will be familiar to the recruiters.</p>
<p>Noname, By undesirable I mean unsafe for both of the locations but expensive for one (NY) and away from friends and family.
Trying to get answers on job placement is tough. She went for a meeting at the close to home school yesterday and the counselor there said that graduates get jobs, often through their contacts from clinical placements (anecdotal, of course) I went on all of the websites to see if I could get data but haven’t found any yet for any of the schools. I’m sure it’s there but hard to find (just like the cost of attending 8-| </p>
<p>EPTR, for what it’s worth, it’s not unsafe to live in NYC, including near the Columbia U. campus and affiliated hospital. That said, it is more expensive and it is definitely hardcore urban and if that’s not what your daughter wants, I don’t think there’s any reason to pay the premium it would cost to live there, much less the extra expense the loans would entail. (I say that as a resident, along with my now-18-year-old daughter living in a neighborhood in Brooklyn that many people assume is dangerous. But it’s not.)</p>
<p>Thanks Oldmom. That is comforting to know if she does end up going there. Part of her hesitation for the NY option is that it starts immediately after graduation and is super accelerated. 60 credits in one year. She is okay with that but is concerned that she will be undertaking that while adjusting to a new city with no friends nearby. She knows that she will be be fine eventually but the transition will be tough.</p>
<p>Very true, Thumper. She is a very social girl who needs a lot of interaction. Regardless of the program she chooses she won’t have much of a social life. Lol. </p>
<p>I served as a mentor for a nurse who recently graduated from a NP program. When I met her, she was a student at a local LPN program. She eventually worked as an ICU nurse while pursuing her BSN at a community college and then at a local branch of our state’s flagship. Once she finished that, she applied to an out of state NP program that allowed her to complete her clinicals in her home state and city. She had several job offers in the community and is working for an Indian Health clinic that is paying her well and paying off her loans.</p>
<p>The point I want to make is that prestige did not matter. She took advantage of low cost programs, work experiences, and mentors to reach her goals. She definitely minimized her expenses and it did not affect her opportunities when she graduated.</p>
<p>I recently interviewed a graduate from a Mayo Clinic master’s program. I was not impressed and neither were the members of my group. Mayo was not the problem. The problem was the graduate and we knew she wouldn’t fit in our group within a few minutes of talking to her. Prestige can’t fix all of the faults.</p>
<p>I would advise your D to pick the program that would allow her to maximize her learning and comfort. Then look at a program in the area of the country she plans to practice. She will work with a lot of physicians and NPs. These may be her future employers.</p>
<p>The program that she is leaning toward is in her home state and that is also where she wants to practice. I do agree that is a consideration. It is good to hear about your experience with the Mayo grad. That is my gut feeling and I think she will end up at the smaller program near home. </p>
<p>It is good to hear from other smart people that it is okay to turn down prestige if it isn’t right for you.</p>
<p>Oh golly yes! It is OK to turn down prestige if the college/university isn’t the right one for you. Especially if your program at not-nearly-as-famous-U will get you a job straight out of grad school right in the area where you want to be working. Really, that is all that matters. </p>
<p>Well, she turned down the Ivy. Have to admit I’m relieved that we won’t be moving her directly from her university to New York on Memorial Day weekend. My H is having moments of “I can’t believe she turned it down!” I told him that it’s cool to get into an Ivy but even cooler to turn it down :> </p>
<p>Now she has to decide between the number one program and the program close to home.</p>
<p>My doctor has been named one of the best in the country. She is awesome. When she hires her associates, she doesn’t look at school or degree type. She hires PA’s and NP’s for the PERSON, rather than for anything else. I have been pleased with all of her staff, and I don’t care where the heck they went to school.</p>
<p>That said, I do believe that the best-prepared heath care practitioners are those who studied in programs that have LOTS of clinical experiences built in. On-the-job training is really important, IMHO.</p>