A lot will depend on your family situation, and whether you take a short term or long term approach.
NOTP doesn't pay much to start, and these programs really were designed for the 18 - 19 year old student who lives on Mac & Cheese or residence food. If you complete the program, and progress in a CF career, you will enter into a world which actually looks after you and the family quite well.
True, in the civilian world, you can often earn much more in outright salary as a Nurse with seniority. In that regard, sucking up the student loans can be seen as preferable, but lately the burn-out rate is quite high, and it's shift work for many years.
Most CF Nurses don't claim burn-out, and don't do odd shifts here in Canada. And if you show leadership, skill, and potential, you could hit the rank of Lieutenant Colonel, or even Colonel eventually (takes many years and lots of hard work).