CALCULATOR – The calculator is here.

NEXus has developed an income and cost savings estimator for its members and prospective members. Use this tool to make data-driven decisions to free up faculty resources and to provide students with greater access to the courses they need – enhancing the overall quality and impact of your nursing education programs. We hope you will find this tool helpful on your campus.

By investing in a NEXus membership, you are making a strategic choice that benefits both your students and your institution.

INFORMATION ON INCOME ESTIMATES
The Executive Committee determines the tuition share formula as well as the tuition rate. The NEXus tuition is a flat rate, regardless of institution attending, paid by the student. See Cost for a Course for tuition rate.
►For each seat filled by a visiting NEXus student in a 3-credit semester course, your program earns 75% of the tuition.
►For each seat sent by your institution in a 3-credit semester course, your program earns 5%.
►Amounts are rounded to the nearest dollar.

INFORMATION ON COST SAVINGS ESTIMATES
Course Savings are realized by sending students to take courses elsewhere. These are estimated, and actual savings will vary by institution. For each course, beginning in 2024-25, NEXus estimates $12,600 per faculty salary with benefits and $5,400 for course development. The total savings is $18,000 per course. The NEXus estimates are based on:
► Base salary of $92,407 with paid benefits of $22,249 at 22.3%, totaling $113,014, rounded to nearest hundred = $113,000
► Average faculty course load equivalent of nine/year = $113,000/9 = $12,556, rounded to nearest hundred = $12,600
► Hourly rate = $113,000 divided by 52 weeks at 40 hours a week = $54.33 rounded to nearest dollar = $54
► Estimate of 100 hours to develop one course = $5,400

Please contact the office at [email protected] if you are a member and need prior years’ calculations.

REFERENCES

  1. American Association of University Professors. Survey Report Tables 8 “Full-time faculty retirement benefits, by affiliation and AAUP category, 2023-24 (dollars). (Category I Doctoral), Annual Report on the Economic Status of the Profession, 2023-24
  2. American Association of University Professors. Survey Report Tables 9 “Full-time faculty medical benefits, by affiliation and AAUP category, 2023-24 (dollars). (Category I (Doctoral) Annual Report on the Economic Status of the Profession, 2023-24
  3. American Association of Colleges of Nursing. Table 76, Associate Professor Rank (Mean of Total all Institutions and Doctoral Degree Level). 2023-2024 Salaries of Instructional and Administrative Nursing in Baccalaureate and Graduate Programs in Nursing, Washington, DC.
  4. Chapman, B. (2010). How Long Does It Take to Create Learning? [Research Study]. Development Ratios – Summary Table. Published by Chapman Alliance LLC. from www.chapmanalliance.com
  5. Defelice, Robyn A. “How Long Does It Take to Develop Training? New Question, New Answers.” Web blog post ATD Association for Talent Development. ATD Global. 13 Jan. 2021. Web. 25 Feb. 2021.
  6. Freeman, Lee A. “Instructor Time Requirements to Develop and Teach Online Courses.” Web post Online Journal of Distance Learning Administration, Volume XVIII, Number I. University of West Georgia, Distance Education Center, Spring 2015. 25 Feb. 2021.
  7. Safai, Alan. “How long does it take to develop an online course?” Web blog post eLearning Blog. The University of Texas at Dallas, 8 Apr. 2019. Web. 25 Feb. 2021.