Re: Any Accelerated BSN at IUPUI Fall applicants?
Jlynn,
I believe loans depend on a number of factors. I was extremely lucky and received a full ride for my undergraduate degree, but have always filled out the FAFSA because my family's income level fell under the poverty line. As a result, I have always been offered federal loans including Perkins, Stafford, and Plus loans.
This website seems to have some good information regarding federal loans:
http://studentaid.ed.gov/PORTALSWebA...udentloans.jsp
Federal loans appear to have different interest rates and payment stipulations than private loans, which I have even less experience with. They also require you to fill out a FAFSA. It appears that your school receives your FAFSA information, evaluates which federal loans you may be eligible for, and then reports those to you.
FAFSA forms typically have priority deadlines between February 1 and March 15, depending on which school you are applying to, and cover entire school years from Fall-Summer. So, say you submitted a FAFSA application on Feb. 1, 2009 for the 2009-2010 school year, it would cover Fall '09, Spring '10, and Summer '10. It is based on your tax return for the prior year ('09-'10 is based on 2008 tax return), your age, marital status, and a variety of other factors.
You might want to check out the FAFSA website at:
http://www.fafsa.ed.gov/
When you fill out a FAFSA, if you meet certain requirements, it may also render you eligible for certain federal grants, such as Pell, SEOG, or SMART grants, which do not have to be paid back.
In the past, my financial aid packages, regardless of my scholarship packages, have always covered tuition and all estimated expenses (including books, transportation, general fees, and room & board).
I'm not sure what else might be different about a private loan, but I'm sure you are considered based on the same criteria that would make you eligible for a credit card or any other form of credit. I would guess that you could take out as much as you estimate you would need to pay your tuition and cover monthly expenses, as the responsibility is yours to repay the loan.
I'm sorry if you were already familiar with any of this. Hopefully it is helpful. I know that some people have never filled out a FAFSA before and have no experience with federal loans or grants.
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