Nursing: The Most In Demand Field in 2019
One of the most in demand professions in the United States as of January 2019 is in nursing and is projected to skyrocket through 2026. Check out some of the questions people have on going to school to become a nurse and how much money nurses make on average. Maybe by the end, you will see why so many people are starting out their career or starting a new career in the field of nursing.
How fast is the nursing industry growing?The nursing industry is projected to grow by 19% over the next 7 years. This growth rate is categorized as much faster than average growth.
Why is the nursing field growing so fast and why such a demand for new nurses?Currently there is a nursing shortage in the United States and this shortage is unlike anything we have ever seen. Because of the aging baby boomer population along with nurses retiring nurses, has created a job frenzy for people interested in starting a new career.
Are Nurses Even Happy?Based on a 2017 survey of 10,000 nurses, 96% of respondents are glad that they became a nurse. They also said that the best parts of the job were helping people and making a difference in their lives, and being in a job that they like.
What’s the worst part of being a nurse?From that same survey we mention above, 25% of nurses said that the worst part of the job were general administration duties and workplace politics.
How much do nurses make?According to the US Bureau of Labor and Statistics, the annual median wage for nurses is $70,000 per year. This will vary based on location, job and degree type attained.
How long does nursing school take?Typically, it takes 2 years for your associates degree and 4 for your bachelor’s degree in nursing, but there are some accelerated programs that finish faster. Class schedules vary and can also be on nights and weekends if you are currently employed.
How much does Nursing School cost?Costs for nursing school vary widely depending on dozens of different factors, A good rule range to plan for initially is $5,000 to $20,000 for a public program and $20,000 to $40,000 for a private program. These cost estimates are based on becoming a Licensed Practical Nurse.
How can I pay for Nursing School?Loans: Either from the government or a private company, most students take on some form of loan debt to finance Nursing School. Typical loan types and time to pay back the loan are found in the next question. Financial Aid: There is roughly $130 Billion dollars available per year from the federal government.
How long do I have to pay back a school loan and when do I have to start making payments?Here are some different options for the way typical loans are structured. Lots of students either choose the extended, graduated or revised pay as you earn payment plans so they can defer payments until they are making money in their new careers.
- Standard: Borrowers have up to 10 years to repay the loan
- Graduated: Borrowers have up to 10 years to repay the loan and the initial payments on this plan start out low, then increase every 2 years.
- Extended: Buyers have up to 25 years to repay the loan with either standard or graduated payments.
- Revised Pay as You Earn: Monthly payments of 10% of discretionary income until the loan is repaid.
Is there loan forgiveness if I can’t repay the loan?Federal Loan Forgiveness: Because nursing is one of the cornerstone processions in which the healthcare industry is build, nursing is a qualifying occupation to receive Federal loan forgiveness. If you qualify for this program you essentially are no longer required to pay all or a portion of the loan you took out. The federal programs that are eligible for student loan forgiveness are: The William D. Ford Federal Direct Loan Program, The Federal Perkins Program and The Federal Family Education Loan Program.
- Private Loan Forgiveness: Typically, these loans are not forgiven for any reason.
- Employer Loan Forgiveness: Some employers will reimburse nurses for all or a portion of their tuition costs. This is a very common practice in the nursing industry and is a great way to help pay back loans quickly.