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Addressing the Cost, Value, And Student Debt in Nursing Education
Nursing Economic$
|July 10, 2018
Summary
High student loan debt significantly impacts nurses' decisions about pursuing further education. Addressing this financial burden is crucial for achieving educational benchmarks in nursing.
Area of Science:
- Nursing Education
- Health Economics
- Workforce Development
Background:
- Current nursing education initiatives highlight the financial burden of student debt.
- This debt may influence nurses' personal decisions regarding returning to school for advanced degrees.
Purpose of the Study:
- To investigate the impact of prior college debt on nurses' educational progression plans.
- To assess the significance of debt as a barrier to academic advancement in the nursing profession.
Main Methods:
- A survey was administered to assess respondents' college debt levels.
- Analysis focused on the relationship between existing debt and plans for further nursing education.
Main Results:
- Nearly 40% of nurses reported less than $25,000 in college debt; 23.5% reported over $25,000.
- For nurses planning further education, prior college debt significantly influenced their academic progression.
Conclusions:
- Prior college debt is a significant concern that impedes nurses from achieving educational benchmarks, such as baccalaureate degrees.
- Nurse executives must consider nurses' debt load in academic advancement planning to ensure workforce development goals are met.
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