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Summary
Obtaining a Bachelor of Science in Nursing (BSN) degree offers greater long-term economic benefits compared to an RN credential alone. The BSN
Area of Science:
- Health Economics
- Nursing Education
- Workforce Studies
Background:
- Understanding the economic implications of nursing education is crucial for career planning.
- Various educational pathways exist for registered nurses (RNs), including diplomas, associate degrees, and baccalaureate degrees.
- Student perspectives on the costs and benefits of different nursing degrees are essential for informed decision-making.
Purpose of the Study:
- To investigate the economic costs and benefits of generic Bachelor of Science in Nursing (BSN) and Bachelor of Science (BS) degrees from students' perspectives.
- To compare the lifetime economic returns of a BSN degree versus an RN credential obtained through other educational pathways.
Main Methods:
- The study analyzed economic costs and benefits.
- Calculations were based on students' points of view.
- Net present value (NPV) analysis was employed, discounting at a 5% rate.
Main Results:
- Economic benefits derived from a baccalaureate degree surpassed those from an RN credential alone over a lifetime of employment.
- The NPV of a BSN degree was four times greater than that of a BSRN/diploma.
- The NPV of a BSN degree was three times greater than that of a BSN/associate degree.
Conclusions:
- A BSN degree presents a significantly higher economic return on investment compared to other nursing education pathways.
- Students considering nursing education should weigh the long-term financial advantages of pursuing a BSN.
- The findings support the economic value of baccalaureate-level nursing education for individuals.