Is it true?

  1. I heard if you already have a Bachelor's degree, you cannot get Financial aid - Does that mean you have to pay out of pocket? Is that true?
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  2. 7 Comments

  3. by   Sunshine0425
    Well...somewhat. You are not eligible for Pell Grants. You can still apply for federal loans. There is always scholarship money out there as well!!!!! I was in the same boat, but I was blessed b/c the accelerated program I got into pays 100% tuition.
  4. by   SA2BDOCTOR
    ic. I will look into that. I see some hope lol. btw that is an excelelnt program you are in!!!
  5. by   smattles1of2
    I have a bachelor's degree and was awarded a $10,000 stafford loan.
  6. by   amybethf
    Why is this? No free money pell grants to those who already hold a degree?! I also have student loans but to those who have received Stafford loans, there are subsidized and unsudsidized. U can opt to pay the accruing interest while in school which is a smart move, because when u begin paying them off, there is accrued plus capitalized interest. There are many payment options as well.

    That really stinks if it's true. I will be calling my OFSA ASAP!
  7. by   mvanz9999
    It is, in fact true. If you have a Bachelor's degree, you cannot get financial "aid". You can get Stafford Loans or other student loans, but in essence, you cannot get free money.

    The reason it is this way is because that's what the laws say. I suspect it's because there is only so much money to go around, and students with no degree must come before those who do have one.

    This is another reason I will not be getting a second Bachelors. I'm going to grad school.
  8. by   lady_db_programmer
    Quote from amybethf
    Why is this? No free money pell grants to those who already hold a degree?! I also have student loans but to those who have received Stafford loans, there are subsidized and unsudsidized. U can opt to pay the accruing interest while in school which is a smart move, because when u begin paying them off, there is accrued plus capitalized interest. There are many payment options as well.

    That really stinks if it's true. I will be calling my OFSA ASAP!
    I already have a BA and I think it's perfectly fair. I think pell grant money should be set aside for people who don't have degrees, not for people who want a second degree. Non-degree holders have to come first; there is only so much money to go around.
  9. by   S.T.A.C.E.Y
    You still can get free money--scholarships & grants!

    One of my profs got something like $40 000 to do her masters. It was a grant from an organization like the Kidney Foundation or Liver Association or something like that. Whatever her big research project was, she had specifically aimed it at being useful to an organization with similar interests, and wrote a proposal for a grant.

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