The average salary for a nurse in certain states is over $100,000. Even with a six figure salary, those that took out student loans could still spend a significant amount of time paying them back. A new study is uncovering just how long nurses in certain states can expect to feel some relief. 

 

Utica University calculated how long it would take nurses to pay the cost of their entire tuition based on the average salary and cost of living expenses in the state. They compared the average salary of both Registered Nurses (RNs) and Nurse Practitioners (NPs) in each U.S. state to the average cost of a BSN degree for RNs, and an MSN degree (in addition to a BSN) for NPs, considering an average student loan interest rate of 5.8%.

 

The States Where Registered Nurses Can Pay Off Their Loans Quickest:

  1. Alaska – 10.06 years
  2. California – 10.59 years
  3. Nevada – 11.47 years
  4. Washington – 12.33 years
  5. Oregon – 13.59 years

 

The States Where Nurse Practitioners Can Pay Off Their Loans Quickest:

  1. Nevada – 10.12 years
  2. Washington – 11.47  years
  3. New Mexico – 11.68 years
  4. Texas – 11.85 years
  5. Iowa – 11.97 years

 

The States Where Registered Nurses Can Pay Off Their Loans Slowest:

  1. Maine – 39.41 years
  2. South Carolina – 36.80 years
  3. Alabama – 36.50 years
  4. Vermont – 34.49 years
  5. Mississippi – 32.50 years

 

The States Where Nurse Practitioners Can Pay Off Their Loans Slowest:

  1. Maryland – 22.40 years
  2. Hawaii – 22.03 years
  3. New York – 20.58 years
  4. South Carolina – 20.35 years
  5. Tennessee – 19.54 years

 

The full study can be found here.