pre-nursing students with a Bachelors having trouble with getting loans?

FLmomof5 · Feb 3, 2009

I'm sorry to hear you are having these challenges. I wish I knew what to advise. I do have a prior BE-EE but mine is from way back in 1984 so I have no outstanding student loans. Loan-wise, I got a 'fresh-start'. I know there are limits on what you can borrow for ADN programs and that is set by the Feds....I think it is 150% of costs or something like that and that could mean that you reach that max before you graduate.

The reason the max is set is for a valid reason....you could get so into debt that you would never be able to make the payments and live on what you will earn when you graduate. Remember that although RN is great money for someone with an associates degree, it is still hard to pay $200 - 300/mo for 10 years on that pay.

Private loans are tough to get. Have you asked your folks to apply for a Parent Plus loan? Maybe that could bridge the gap and you could promise your parents that you will make the payments.

I wish you luck!

Annieh1315 · Feb 3, 2009

You could research hospitals that offer tuition reimbursement and try to find a position in the hospital - even in non-clinical - that would pay your tuition. Our area is hit pretty hard with the recession, so most non-clinical jobs are on a hiring freeze, but your area may be different. If you can afford it, you could work as a CNA - the job would be easier to get and I bet the hospital would be pretty helpful in arranging your schedule for school.

Good luck!

Lovelymo79 · Feb 3, 2009

Wow..this is good to know. I have loans already on my BA degree..and my top choice is pretty pricey. If I can't get a loan, I won't know what to do!

CorazonDeOro · Feb 3, 2009

I'm sorry to hear you are having these challenges. I wish I knew what to advise. I do have a prior BE-EE but mine is from way back in 1984 so I have no outstanding student loans. Loan-wise, I got a 'fresh-start'. I know there are limits on what you can borrow for ADN programs and that is set by the Feds....I think it is 150% of costs or something like that and that could mean that you reach that max before you graduate.
The reason the max is set is for a valid reason....you could get so into debt that you would never be able to make the payments and live on what you will earn when you graduate. Remember that although RN is great money for someone with an associates degree, it is still hard to pay $200 - 300/mo for 10 years on that pay.
Private loans are tough to get. Have you asked your folks to apply for a Parent Plus loan? Maybe that could bridge the gap and you could promise your parents that you will make the payments.
I wish you luck!

Thanks for your input. I totally understand why limits are placed on loans but the problem is, that the government limits for loans are much higher than my college (They just lowered them last year). I dont think my amount of debt is unmanageable compared to many college students, so I just dont think its fair that I am penalized now. I cant use my parents to get loans because I am the only one with good credit in the family (which is why I have private loans already, under my own name...i just dont want anymore )

mochabean · Feb 4, 2009

You could research hospitals that offer tuition reimbursement and try to find a position in the hospital - even in non-clinical - that would pay your tuition. Our area is hit pretty hard with the recession, so most non-clinical jobs are on a hiring freeze, but your area may be different. If you can afford it, you could work as a CNA - the job would be easier to get and I bet the hospital would be pretty helpful in arranging your schedule for school.
Good luck!

I know other nursing assistants I'm working with are using tuition reimbursement to go to school. After you recieve it, you have to stay with the hospital for a year; if you leave early, it'll convert to a loan.

Karla_WanaB_aNurse · Feb 10, 2009

this topic is my main concern in going back to school. i enrolled at the local community college after i had my son to take pre-reqs and they told me the same thing. i had reached my 150% max loan amount with that school. i think this is simply because i have a ba now and was trying to get a lower degree (adn). i technically have exceeded 150% (adn is 72 credits and in ba i earned around 120-130 credits). i couldn't pay out of pocket and dropped within the first week. :crying2: side note: this is a technicality because i am currently taking a few masters level classes and the financial aid went through just fine.

so now i am considering an accelerated bsn program. hopefully i can use some of my old credits. it's been 5 years since i graduated, 9 years since i took the gen-ed courses. i have heard it's super competitive though. or an adn at keiser, a private "university" that's pricey. i don't know how easy or tough it is to get a private/personal loan for school. i may have to go that route. gosh at this point i wish i could pretend my 1st ba never happened!

keep us posted on how things turn out ok? i'll do the same!

Annieh1315 · Feb 10, 2009

this topic is my main concern in going back to school. i enrolled at the local community college after i had my son to take pre-reqs and they told me the same thing. i had reached my 150% max loan amount with that school. i think this is simply because i have a ba now and was trying to get a lower degree (adn). i technically have exceeded 150% (adn is 72 credits and in ba i earned around 120-130 credits). i couldn't pay out of pocket and dropped within the first week. side note: this is a technicality because i am currently taking a few masters level classes and the financial aid went through just fine.
so now i am considering an accelerated bsn program. hopefully i can use some of my old credits. it's been 5 years since i graduated, 9 years since i took the gen-ed courses. i have heard it's super competitive though. or an adn at keiser, a private "university" that's pricey. i don't know how easy or tough it is to get a private/personal loan for school. i may have to go that route. gosh at this point i wish i could pretend my 1st ba never happened!
keep us posted on how things turn out ok? i'll do the same!

if graduate loans will go through - here's a thought:

look for an msn program that accepts non-nursing ba students. i know ohio state has one, so maybe your local university does too. once you get into the program, you earn your rn and then complete the msn. i am considering that route myself, but want to get an lpn first so i can work evenings/weekends making a decent salary (the program is all daytime). i have heard that some students do the rn, work for a while and then finish the msn later. the program still counts as graduate credits.

be careful with loans, though. i got a huge sticker shock when i finished my undergrad. i did the extended graduated option, but even so i would owe about $200 for the next 25 years. the msn would allow you to make a lot more money, but make sure you plan to complete the program.

Karla_WanaB_aNurse · Feb 10, 2009

oh wow annieh1315 i didn't know msn for first time nursing students was even a possibility. i'll have to look into that. i'm in orlando, fl. i know ucf offers up to phd in nursing. i'm not sure on the details. my best friend just finished pa school so she's pushing that...completely messing up my game plan, lol!

i have to make up my mind soon. i can start my pre-reqs at keiser univ. in april (nursing school jan 2010). that would mean not finishing the last part of this term and withdrawing from my graduate program. that money is already spent! another possibility is to pay for my phelbotomy certificate, secure employment and go from there. last time i checked you have to be with an employer (hospital) for a year before they do tuition reimbursement. i think i'm trying to rush things and need to slow down. i have 3 children and i'd like to do the best economical and not take 3-4 years to finish so i can get back to providing adequately for us. (i'm a single mom now)

...know what? i'm going to apply to keiser and see what the financial aid office tells me then go from there. *final answer* lol! that means gota start studying for the net test. da da daaaaaah. thanks for letting me think out loud guys.

Scooter5 · Feb 10, 2009

I have a BA already, and have already got loans for nursing school- in the fall I took 8 credits of pre-reqs to get ready to enter a nursing program and am taking more this semester. I have learned that you must take at least 6 credits in one semester to qualify for a loan at all. 12 credits to get TAP. I think the best thing to do is to fill out the FAFSA, get your results back, and then go to the school's financial aid office. I have found them to be most helpful, but you need to have that financial aid form back for them to be able to help you.

Karla_WanaB_aNurse · Feb 11, 2009

i have a ba already, and have already got loans for nursing school- in the fall i took 8 credits of pre-reqs to get ready to enter a nursing program and am taking more this semester. i have learned that you must take at least 6 credits in one semester to qualify for a loan at all. 12 credits to get tap. i think the best thing to do is to fill out the fafsa, get your results back, and then go to the school's financial aid office. i have found them to be most helpful, but you need to have that financial aid form back for them to be able to help you.

curious, did you take loans out your first go 'round? if no, well then that may be why it's easier for you to obtain them now. i took a few out with my first degree, definitely not the max for undergrad but maybe enough to where i'm at the max for an as or adn. i've heard that once you get into the core classes loans are obtainable, everything before that is out of pocket. also what type of school are you attending now? comm. college, 4year univeristy?....yes i will apply to my school of choice and speak with their fin. aid officers. never know until ya try right?

Scooter5 · Feb 11, 2009

I did take out loans my first time around. I did pay them off already though. I have applied to a 2 year schools for my RN thus far as they are closest to me. I am currently taking classes at a community college and have obtained loans towards my prereqs. Everyone is entitled to loans based on income. I have not heard that it is based on anything other than that. Pell and TAP- you can only get them for 8 semesters total. I only used them for 4 semesters, so they contacted me saying I will qualify for that again based on my income (it has to be pretty low!) and credits taken. I think when you complete your FAFSA you will be pleasantly surprised as to what you will qualify for. I was totally shocked at what I got and was prepared to use credit cards. Good Luck!