PMHNP saturation getting worse in Chicagoland area!

It’s concerning how every other psych nurse at my facility is starting or graduating online PMHNP programs after 2-3 years of inpatient experience. I don’t understand how these NPs are going to find jobs after graduating from schools like Walden, Chamberlain and Capella. The only psych NPs I am aware that my work hires are from reputed schools like Rush, UIC, Loyola, and UPenn. The alarming rate of NPs graduating and lack of preceptor sites in the Chicagoland area and surrounding suburbs, people paying thousands of $ for subpar clinical experience seriously concerns me!

I have browsed through websites of some hospitals in Chicagoland area and there are just handful openings for the psych NP positions, and many even requiring 3+ years of experience. Has anyone else noticed this crazy saturation? Do you notice the salaries have gone down? I have heard new grads PMHNP starting at $47. Anyone else heard about the low salaries? What do you think is the future for prospective Psych NPs?