Admitted to A-BSN UM university but can't get loans?

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Hi Everyone,

I was admitted to University of Miami School of Nursing ABSN program. It starts Jan 5th 2016 and ends Dec 16, 2016. I live in California and am dying to go. However, it is my second bachelors degree, therefore, I am not able to get any grants. I have to pay all loans which I am okay with. I have contacted two banks and they both have denied me because I recently stopped working and have no income as quolateral. It seems that my only other option at this point that I know is to obtain a cosigner which is not a possibility at this time. I would appreciate any advice from anyone. I have come so far and will not give up especially for such a ridiculous reason as this.

Look for a job to work for five minutes? I start my program in a month!

MANY of us work during nursing school. In fact many who work, work full time to afford school, housing, food, etc. I happen to be one of those people who are working and going to school. Not everyone can, but if you can't afford the tuition than you can't go to school anyway. You might as well try to work.

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MANY of us work during nursing school.

After re-reading the OP's post I see that it is an accelerated BSN program that he applied to at UM. I have friends who graduated from that university's accelerated nursing and NP programs, and the rigors of the coursework and the clinicals there are not conducive to working even part-time. You're pretty much either in class or in clinical every day, and you need all of your evenings and weekends to study. UM is not one of those colleges that will allow students to get by with C's. If you get two of them they kick you out.

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After re-reading the OP's post I see that it is an accelerated BSN program that he applied to at UM. I have friends who graduated from that university's accelerated nursing and NP programs, and the rigors of the coursework and the clinicals there are not conducive to working even part-time. You're pretty much either in class or in clinical every day, and you need all of your evenings and weekends to study. UM is not one of those colleges that will allow students to get by with C's. If you get two of them they kick you out.

I don't think that school is going to work out then. If you don't have the money to attend or can't come up with the money to attend, then you afford it. It happens. Higher education is not always cheap and limits people's choices - fair or not. I would LOVE to go to a program that is accelerated in my area but by going to my CC I am saving almost $30,000 which is CRAZY!

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Specializes in Allergy/ENT, Occ Health, LTC/Skilled.

You will be fine to work during nursing school. I do it with three kids under 7. The only way I cnn see you getting loans is if you pay it yourself or get a co-signer. I recently stopped working full time to be PRN for the remainder of school and even though I am making income, my husband still had to co-sign for me since he works 60+hours/week. It's very doable to work FT and go to school if you do not have children and are willing to give up having a life for that year.

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Specializes in Allergy/ENT, Occ Health, LTC/Skilled.

I see what others said about being accelerated-- I too have heard that it's impossible to work a lot, many students in my pre reqs were apart of that program. You need to figure a cheaper route out.

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Thank you everyone for your wonderful advice! I was able to get a loan from Sallie Mae for the first semester, as of Wednesday. The program is one year (not even 12 months for a BSN). I am 35 years old so I thought this was a great option because I want to just get it done. I don't think community college is a smart move because in California they are extremely impacted and can take a few years to get in, not to mention that most of them are two years upon graduation with an AA (most hospitals will not accept an AA anymore). As some of you stated it is very intense and I will not be able to work, due to the time constraints. However, I am worried about repaying the loans because after everything is said and done I will owe about $75,000 with tuition and living expenses. I also want to go further to become an NP. Hopefully in a year, I can find an employer willing to help me out with the tuition. I will start looking for scholarships for this program as of now and with a little luck will score some of them. Something I didn't realize, for all of you just starting out, getting into a great school is just the beginning of fighting the battle. After being accepted you need to figure out how to finance your education. Schools are businesses, they don't care if you can pay or not because there is someone right behind you willing to take your seat.

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What if you worked a year first, to help lower that $75,000 in loans in the end? I know someone who worked as a Cna before med school!

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schools stop taking prereqs after a certain time and I am one of those candidates that will have to start retaking things. Not willing to do that. I mean it is a good suggestion. I am currently in a second bachelors for speech pathology but was going to take a leave of absence. Another option is stay in that as a back up and apply to local state schools. The state schools are less expensive I just don't want to give up my spot at Miami. I worked my *** off to get in. The other route is not a sure thing. Again I like that it is a year program and I am done. If I continue speech pathology that is one year of undergrad and I can start as an assistant earning $56,000 a year and then go to grad school which is another 2 years. No telling if I will get straight in to grad school either with gre and impacted schools. Seems long being that I am 35. So far I have three A's in the program though.

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Specializes in PACU.

$75k is... a lot, I'll be honest. I wouldn't sleep at night with debt that high, but to each his own. You will always end up paying more than the $75k due to interest. I work during school to keep the costs down and it doesn't hurt my grades, but for others that isn't the same deal.

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schools stop taking prereqs after a certain time and I am one of those candidates that will have to start retaking things. Not willing to do that. I mean it is a good suggestion. I am currently in a second bachelors for speech pathology but was going to take a leave of absence. Another option is stay in that as a back up and apply to local state schools. The state schools are less expensive I just don't want to give up my spot at Miami. I worked my *** off to get in. The other route is not a sure thing. Again I like that it is a year program and I am done. If I continue speech pathology that is one year of undergrad and I can start as an assistant earning $56,000 a year and then go to grad school which is another 2 years. No telling if I will get straight in to grad school either with gre and impacted schools. Seems long being that I am 35. So far I have three A's in the program though.

Sounds like a reasonable plan. You've made it past the biggest obstacle since you got the loan to get started. UM has plenty of money and other resources there. One of my friends who did her BSN there ran out of money midway her program. She went in to them and told them that she was going to have to drop out, and they did 'things' and manifested grants, loans, and scholarships for her so that she was able to finish. I believe that if they see that you are a good student they will help you to find the money to keep going. You are correct that it is something you're going to have to start working on as soon as you get there.

UM also has accelerated FNP and ACNP programs. If you can't find an employer that does tuition reimbursement, you can get more federal loans for grad school. You also have the option to try for federal loan forgiveness to get rid of some of the loan balances after you finish with school.

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