Financial Aid for 2nd Degree / Career change

Nursing Students General Students

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I will be going back to school for nursing. This will be my second degree. My first was a B.A. in Theater Arts - the product of going to college right out of high school with your head in the clouds and stars in your eyes. It has gotten me many fantastic jobs waiting tables and doing office work. This time around, I have a 2 year old. I don't think that I'm technically a single mother in that I'm not married, but her father and I are together (for many years) and he takes care of her while I pay all the bills. I want to finally follow my dream of nursing (it will be harder than working the 60+ hour weeks I work now, I know) and enable myself to be financially secure in a career that I love, doing something my daughter can be proud of. Oh yes, and ditch the loser "father figure" (or more like a child care provider) when I land my first nursing job. What options did you who went for your 2nd degree / career change have? I know pell grant is off because of our previous bachelors. The max in loans won't cover living expenses and school. My credit is shot due to poor decisions (used credit to help a family member who ran on the bill which I couldn't pay) in the past so private loans are out. Scholarships I hear are usually given to those fresh out of HS. I want to get a clear picture of what I'll be up against financially. Beating the pavement and inquiring at my school's financial aid office got me no more than a mumbling clerk and a myriad of voicemail boxes. Any and all comments are welcome!!!!

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Normally I'm not a fan of direct entry msn programs but in your case it would allow you access to more aid that doesn't require a credit check. My only other suggestion ( which I think is actually the better option) is to continue working and start saving. Save up enough to live on and then just use loans for school. I am a 2 nd degree student and my remaining loan limits will pay tuition and most of my books.

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Thanks for the reply! Direct entry MSN would be fantastic, although generally even more money and unfortunately there aren't any offered in my area. Relocation would not be an option at this time :0( I will be heading in the direction of the MSN anyway. The only thing keeping me from entering an accelerated BSN (if I were to be accepted) is the money. Being a 2nd Degree student, $$ is the deciding factor as loans are the only means of financial assistance that I know of (?). Hence, my question on this forum :uhoh3: I do like your sensible approach of continuing to work until the $$ is there. With my daughter, taking chances on a whim is not an option. The idea is to improve her life, not de-stabilize it :) Although, my impatient side wants to just get on with it already since she'll be 5 already when I'm done. The ideal plan would be work for the next year, save up money. The following year, complete my pre-reqs and work part time. Ideally I would be accepted into my program and the next 4 semesters would be full time school and no work. Of course, pray that there is a job opportunity on the other end. I wonder if the economy will look any better for nurses in 2015?:idea:

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Specializes in ICU.

As a second-degree student (previous BA in history, I get where you're coming from...I knew on some level I wasn't ever going to use it but I just kept going because all my friends were in school, too), finances were also my chief concern.

BUT my accelerated BSN program has provided me with a generous loan package that covers the entire cost of the program PLUS an amount equal to my entire salary from 2009-2010. I know, loans suck, but they get you through school. I qualified for the max federal loans for a second-degree student, plus 2 nursing student loans, and the rest is a private education loan that the school sets up for me and then I apply for and my personal credit history determines the interest rate and if I need a cosigner. I'm hoping to decline the private loan...haven't decided yet.

I was also offered a generous scholarship (about 1/2 my tuition and fees for the first year) from the hospital I've been working at the past few years in exchange for commiting to work for them for 2 years after graduation - which is no prob because I'll need a job anyway and I already like working at this hospital.

I have a few scholarship/tuition reimbursement applications in still that I haven't heard back about - if I get them I will just accept fewer loans.

My school also has a seperate financial aid application for applicants who need financial child care assistance...the previous students I've talked to said it was more than sufficient.

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Regarding your prerequisites . . . If you look around you can find inexpensive online options for many prerequisites. I would suggest taking one at a time while you're still working full time. In a year you could get 4-5 prerequisites out of the way - depending on terms. Many schools offer gen Ed classes during winter intersessions (3 weeks) . The online classes really open things up. I even took my micro online because I had two kids at home and couldn't be gone 3-4 days a week to do a regular class.

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Hi there. I also have a bachelor's degree and will be starting an ADN program in the fall. I completed my FAFSA and thought I would qualify for financial aid (in the form of unsubsidized loans) and recently was denied (too many course hours completed).

I will need to file an appeal and meet with a counselor to determine my plan of action for the ADN program. I hear that once I do that, those loans should be available to me. But I will let you know.

Otherwise, I will be dipping into my 401K to pay for school and also apply for private loans.

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such great inspiring comments everyone! I am not opposed to taking out loans that are available to me because it will be an investment in my future. However, for me to intelligently borrow (ie: not take out so much in loans that my salary ends up being equal to what I make now because of huge loan payments due) is crucial because I am the sole provider for my daughter right now and probably in the future as well. I see these nightmares of people borrowing upwards of 60K. That would not be responsible of me to do. Notice I specify "me" because everyone's situation is different and what is right for me may not be for another. PP's suggestion of generous loans by the BSN program obviously are a good fit for her situation and congratulations! Pre-reqs: my community college has great online options and my plan was to take one class per semester online, though a&p, chem and micro I will have to take the lab portion in person. So thankful for this option! So basically for poor credit like mine it'll be federal loans (if eligible) and whatever money I can scrimp together? Repeat: I can do this....I can do this....I will do this...for my daughter. Oh yes, and to be one of the lucky few who can go to work doing what they love (albeit covered in blood, poop and pee)! Keep the comments coming! You all are inspiring me!

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Otherwise, I will be dipping into my 401K to pay for school .

:down:

No no no no noooooooo. That's the worst thing you could do. Leave the 401k alone. Put using that out of your head. Act like it's not there.

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:down:

No no no no noooooooo. That's the worst thing you could do. Leave the 401k alone. Put using that out of your head. Act like it's not there.

I would say 'it depends' although it may not be a great idea. I would check out all the rules about taking out loans against your 401k including what happens if you lose your job. When I first had the idea of nursing school, I told my husband that we would max out his 401k contribution and use it as an optional loan in the future. Meaning we are using it as partially a savings account in that we put extra that we wouldn't have normally. It is still a fall back plan.

Our main plan though is I am drastically cutting our budget and saving as much money as I can. I set up a budget and I'm opening a special 'nursing school' savings account. If I am lucky, I won't need loans.

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Nah. Never touch retirement. It's not a savings plan. It's a retirement plan.

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My point is we put extra in it to account for the possibility of taking some out. Plus, it is a loan so you have to repay it within a certain period of time and the 'interest' goes directly into your account. I don't see much difference from putting $10k into your retirement with plans of taking it out than putting $10k in a savings. Plus, it is tax free if you put it into your 401k.

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If you take it out of your savings then it's taxed too. I just don't like the idea of taking money out of retirement. Interest is typically better with retirement accounts, and you'd be better served taking 10k out of savings where interest is sadly limited. Many people "borrow" from retirement and never put it back. That jeapordizes retiring securely and retiring early.

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