ADN program Financial Aid question

Unfortunately I think this is about to happen to me as well. I have a BS degree which was 120 credits, when I sent my transcript to the ADN program I will be attending in the fall they transferred 66 of the credits from my BS degree plus I have taken 20 credits at that school. So now it looks like I have taken 86 credits at the community college and have no degree which is not true. I just got a letter that says I have to meet with a counselor because I am nearing the 150% of the credit hours required for the nursing program and when you go above 150% you no longer qualify for federal loans or grants.

I'm not sure what I am going to do because I do not want to take out private loans but if that is the only option then I guess I will have to. The interest rate on private loans varies because it is based on your credit score so the better your credit the better the rate.

I am in the same boat. I wish I had words of wisdom, but so far the only option I have come up with is private loans.

Oh no!!! I didn't know that. Luckily I am at a CC where it is cheap. I knew I couldn't get financial aid, but did not know I couldn't take out loans... seems a little unfair. Maybe I'll be able to pull off paying for the CC ADN, but what about my MSN??? There's no way I'll be able to finance that.

You will be eligible for student loans for grad school. That is a totally different scenario.

The MSN program I'm hoping to go through will consider me with the ADN. But, what happens if they won't take me or change their policy and I need to get a BSN? Does a bridge program qualify for loans?

I really don't know since I haven't checked into it. I suggest talking directly to the financial aid office. Be sure to let us know what you find out.

I am in the same boat. I looked into a private loan when I first started school and Lending Tree wanted to give me $10,000 at like 10% interest. I said no way, that is way too high so I just paid cash. I am going to nursing school this August and will also have to pay cash but I may have to use one of my credit cards. They are always sending me checks to use with no fees locking in a very low rate for that purchase so I'm hoping when it gets closer to that time, they will offer me something good with the credit cards.

Good luck!

That is why I am going the ADN route. I cannot afford to pay cash for a BSN or MSN bridge program. I can afford to pay cash for an ADN. Especially since I will be finished with all of my non-nursing courses before I will enter the program. I may receive a few scholarships to assist me. However, if I do not get any assistance I am definitely not taking out private loans. I am fed up with educational loans because I am tired of working forever just to pay them off. :angryfire

That is why I am going the ADN route. I cannot afford to pay cash for a BSN or MSN bridge program. I can afford to pay cash for an ADN. Especially since I will be finished with all of my non-nursing courses before I will enter the program. I may receive a few scholarships to assist me. However, if I do not get any assistance I am definitely not taking out private loans. I am fed up with educational loans because I am tired of working forever just to pay them off. :angryfire

I feel you there! I have always told myself I would not be obligated to no one again-especially after just leaving the Marine Corps-I don't do contracts anymore. Too many surprises. I must say though, I did have enough sense to take all the non-nursing courses while I was in and they were paying 100% tuition and I'm also happy that I have my GI Bill to help pay the bills because I don't think I will be able to work these next two years. I've heard though that if you work at a hospital, they will pay your tuition. Whatever you do, DO NOT DO LOANS!!!!!!!!!!!!!!

I feel you there! I have always told myself I would not be obligated to no one again-especially after just leaving the Marine Corps-I don't do contracts anymore. Too many surprises. I must say though, I did have enough sense to take all the non-nursing courses while I was in and they were paying 100% tuition and I'm also happy that I have my GI Bill to help pay the bills because I don't think I will be able to work these next two years. I've heard though that if you work at a hospital, they will pay your tuition. Whatever you do, DO NOT DO LOANS!!!!!!!!!!!!!!

Many of us have no choice but to take out loans if we want to go to school.

I really believe there are other options. You must realize, there is no loan out there designed to actually help you. These people want something back in return-could be interest, work, etc...-Many people like to get the federal loans but those aren't in your best interest either because if you slip up, they'll take it out of your taxes plus interest. I'm just saying, try it on your own. Do it by yourself, and if that means working crazy hours and missing out on a couple of things, so be it. Atleast you wont owe anybody anything.

I really believe there are other options. You must realize, there is no loan out there designed to actually help you. These people want something back in return-could be interest, work, etc...-Many people like to get the federal loans but those aren't in your best interest either because if you slip up, they'll take it out of your taxes plus interest. I'm just saying, try it on your own. Do it by yourself, and if that means working crazy hours and missing out on a couple of things, so be it. Atleast you wont owe anybody anything.

I am glad that this works for you. In fact, yes, we would all do well to look for every alternative to borrowing. That said, many of us simply would not be able to get a degree without student loans. What works for you does not work for everyone & vice versa.