When you finally get to graduate from nursing school, there’s still just one more step that needs to be done before you can become a full-fledged nurse, and that’s passing the NCLEX exam!
The NCLEX exam helps to determine whether or not you are fully prepared to become an entry-level, fully licensed nurse. Not only does passing the NCLEX mean that you are prepared to become a licensed nurse, but it also depends on which career path in nursing you will be able to take, and that includes how much money you will be making, or not making along the way.
If you fail the NCLEX, the most popular career paths are:
- Home Health Aide – $21,920 per year, $657,000 over 30 years
- EKG Technician – $30,423 per year, $912,690 over 30 years
- Medical Assistant – $30,590 per year, $917,700 over 30 years
- Phlebotomist – $31,680 per year, $950,400 over 30 years
- EMT – $31,980 per year, $959,400 over 30 years
- Medical Records Technician – $37,110 per year, $1.11 million over 30 years
Average: $27,617
Cost of tuition at a 4-year public college for state residents: $38,600
Cost of room and board at a 4-year public college: $47,160
Total Student Loans: $85,760
Student loan interest for $85,760 at 4.66% interest rate, paid off over 20 years, would result in 241 payments of $549.99, resulting in a total interest of
Total Interest: $46,239.53
Total Student Loans + Interest Paid: $131,999.53
At 4.66% (the current student loan rate) for $85,760 in student loans, if you began paying it off once you graduated and never missed a payment, paying the entire loan off over a 20 year period, your monthly payment would be $549.99, paying a total interest of $46,239.53 once the 20-year loan period had been completed.
Most popular nursing paths after RN:
Registered Nurse – $67,490 per year, 16% growth by 2024
Psychiatric Nurse Practitioner – $90,376 per year, 22% growth by 2020
Acute Care Nurse Practitioner – $95,070 per year, 34% growth by 2022
Family Nurse Practitioner – $95,350 per year, 34% growth by 2022
General Nurse Practitioner – $97,990 per year, 34% growth by 2022
Certified Registered Nurse Anesthetist – $133,000 per year, 25% growth by 2022
Average Earnings over a 30 year period:
If you fail the NCLEX: $828,510
Pass the NCLEX: $2,660,350
So, how do you pass the NCLEX?
The best way to prepare yourself for the NCLEX is to simply STUDY. Mometrix’s NCLEX Study Guide and Flashcards are a great place to start preparing yourself for the NCLEX exam. You can also take advantage of our FREE NCLEX Practice Questions.
Still need more info on how to pass the NCLEX? Check out our blog post on How To Pass The NCLEX.
