Financial Aid

[Kaligirl02, ADN, BSN, MSN, LVN, RN, APRN, NP]

Hey everyone! I have a quick question. If my program is 18 months would I be able to get the 10,500 from student aid the first 12 months and then get the 12,000 the remaining 6 months? Not that I need all of it, just wondering how it works if your program is more then 1 yr but shorter then 2. Thanks in Advance!

[Jenngirl34RN]

I am not sure why you would get 12,000 for six months if you get 10,500 for 12 months, but even if that is what you would get you should talk to your FA office, as each school has their own way of dispersing funds. At my school the total amount you are eligible for is determined for the whole school year, but the funds are dispersed by quarter based on enrollment in eligible classes. So if a student is enrolled for the minimum 6 credits for Fall and Winter quarter, but decides not to take classes Spring quarter or does not take enough credits, that student would receive their funds for Fall and Winter quarters at the beginning of each quarter, but not for Spring. That student would only get 2/3 of the funds they could have received for the school year.

Does that make sense? As I said though, the best thing for you to do is to talk to your FA office about how they will handle your disbursement.

[PhillippaX50]

My financial aid is based on the quarter system as well - it covers whatever classes I'm taking, so if I don't need the full amount, I will only be given what I need. For example, I am waiting to see if I get into the nursing program at my school - so right now I'm scheduled for only 5 more regular classes. Because my schedule is less full than normal, my loan for 2013-2014 is a smaller amount. If I get into the program early next year, I can "add on" the rest of what I need, and when the aid year is up, the rest of what I'll need will be covered by 2014-2015....if that makes sense.

It really depends on how your school does things, and your tuition cost & financial need. Best to talk to your financial aid office - they'll be able to address your concerns.

[Kaligirl02, ADN, BSN, MSN, LVN, RN, APRN, NP]

I said 12k because the 3rd year of schooling on the Fafsa website stated 3rd year students get 12k. Since my lpn program counted for my first year, the next 18 months would would equal 2nd and 3rd yr, right? The school I am hoping to get into is based on a quarter system as well. The school won't discuss Financial aid until you are accepted. I was just trying to plan ahead. I am already an LVN so I am hoping the bridge program won't actually cost as much as it stated since i have all my pre-reqs. I am just wondering If I could possibly get all of my schooling paid for ,if need be, with the stafford loans since my husband and I make too much to qualify for pell grants and other grants it seems. I can use his GI bill, but I'd prefer not to.

[203bravo, MSN, APRN]

The max amounts of loans are stated for the entire year based on your classification as calculated by the number of credit hours that you have already been successful in achieving. However, the loan is divided and paid according to the number of semesters or quarters of a normal school year.

Thus - if you are awarded 12,000 for the year then only 6,000 would be paid the first semester - which would be your final semester. If you graduate then the remainder 6,000 would never be paid out.

[Kaligirl02, ADN, BSN, MSN, LVN, RN, APRN, NP]

Thank you so much! I looked all over the Fafsa website and couldn't find an answer. Once again thank you!