Student Loan maximum for Accelerated BSN?

  1. I read on the FAFSA site that students may borrow up to $18,500 of Stafford loans per year. This includes both subsidized and unsubsidized loans.
    But does anyone know of other sources for aid/loan? I can't get a grant since I have a Bachelors degree. Plus I don't have good credit to get a personal loan from a bank,etc. I also plan to stop working to school attend full time.
    So my only option is a Stafford loan.
    Yet, if the school costs over $42,000 for the year, how can I afford it if I can only borrow $18,500?

    I guess I have to attend a cheaper school. How can anyone afford the more expensive schools? I really don't want to spend that much on the program but it seems that the more expensive schools admit more students and have less waiting lists.
    I am single and don't have anyone to help me w/income. I also don't have much savings.
    Any advice?
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  2. 3 Comments

  3. by   emtneel
    I just finished an accelerated program at U of Miami. Most of the people i knew took out Signature loans. With good credit i got 6% interest. If you have bad credit you can get around 12% but you can get the 6% if you can get a cosigner. I don't know of any other help available if you already have BS.
    hope that helps.
    neelia )






    Quote from MiaNJ
    I read on the FAFSA site that students may borrow up to $18,500 of Stafford loans per year. This includes both subsidized and unsubsidized loans.
    But does anyone know of other sources for aid/loan? I can't get a grant since I have a Bachelors degree. Plus I don't have good credit to get a personal loan from a bank,etc. I also plan to stop working to school attend full time.
    So my only option is a Stafford loan.
    Yet, if the school costs over $42,000 for the year, how can I afford it if I can only borrow $18,500?

    I guess I have to attend a cheaper school. How can anyone afford the more expensive schools? I really don't want to spend that much on the program but it seems that the more expensive schools admit more students and have less waiting lists.
    I am single and don't have anyone to help me w/income. I also don't have much savings.
    Any advice?
  4. by   MiaNJ
    Thanks for the info.
    But were you working while on the program? They recommend not working in most programs I've inquired about, due to the heavy class load, clinicals that last all day, homework, etc.
    How can I get a loan even with high interest if I don't have a job? I thought the only type of loans for jobless people were Federal loans. I plan to quit my job in order to start the program. I have been saving some money to live during the year and have a cousin that will give me a room in her house temporarily. But she can't lend me money for school.






    Quote from emtneel
    I just finished an accelerated program at U of Miami. Most of the people i knew took out Signature loans. With good credit i got 6% interest. If you have bad credit you can get around 12% but you can get the 6% if you can get a cosigner. I don't know of any other help available if you already have BS.
    hope that helps.
    neelia )
  5. by   emtneel
    No i wasn't working, some people had familys, jobs, i don't know how they did it. I didn't work and i didn't have much time, studying all the time. You should be able to get a Signature loan it is a student loan from Sallie Mae, it is a federal loan i believe? Just go to the Sallie Mae website and call them and ask. I also found out too late at the end of the year, that i probably could have got food stamps, which is not a big deal b/c you get a credit card thing with money on it. you could check into that.
    My program was probably around 35,000 total and i have 50,000 for that year, make sure you have enough for the year, plus emergencies, (i had to buy a car) You can always pay it back if you don't use it. You will save a lot living with family.
    you can write if you have more questions about accelerated in general.
    Neelia :O)


    Quote from MiaNJ
    Thanks for the info.
    But were you working while on the program? They recommend not working in most programs I've inquired about, due to the heavy class load, clinicals that last all day, homework, etc.
    How can I get a loan even with high interest if I don't have a job? I thought the only type of loans for jobless people were Federal loans. I plan to quit my job in order to start the program. I have been saving some money to live during the year and have a cousin that will give me a room in her house temporarily. But she can't lend me money for school.

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