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!!!!

I'm a second-degree student too. I simply saved money to pay for tuition in full, and found the least expensive program in my area. I took pre-requisites at community college. I disagree with the other posters who think student loans are a better idea than dipping into your 401K. I did not have to touch my 401K but I would sooner do that then get into debt. Student loans are bad news, you can't discharge them in bankruptcy, and if you don't pay they will garnish your wages, repo your car, destroy your credit, even revoke your nursing license (depending on the state). I'd rather pay myself back in my 401K than be harassed by creditor collections companies every day.

If I were you I'd save and then do an ADN program at community college. Then you can do an RN-BSN bridge online through your state university system. That is the absolutely best bargain and cheapest way to become a nurse.

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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.

Maybe there are other 401ks but in ours, when you take a loan against it, the money isn't taxed and it is garnished directly from your paycheck.

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Maybe there are other 401ks but in ours, when you take a loan against it, the money isn't taxed and it is garnished directly from your paycheck.

No, like an IRA it's not taxed when you borrow against it for education. Truth be told, I don't have a 401k. I have a Roth IRA and a state employee's retirement plan. THe latter is locked down pretty heavily, but I could "borrow" for school and a first time home purchase as well as major medical expenses. I've never read anything about payroll garnishment.

I'd rather have smaller school loans than anything. Pay the interest as you go, and you're left with nothing more than a zero interest rate loan for about what you'd spend on a new car when you graduate. Get qualified to pay it off in a shorter period of time, and you'll never know you had it.

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hey! i’m a second degree student too, working on my accelerated bsn. i’m doing everything on loans; i had to move back in with my parents so i wouldn't have to work. your best bet is to take you pre-reqs at a local community college to save money. and you don’t have to go for your bsn, how about an adn. i also got a scholarship from a local hospital in which they pay me 1000 a semester. they also have scholarship for full tuition if you agree to work 2 years at certain facilities like rehab centers or long term care.

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thanks again for all the advice everyone! To pay the tuition in full - no problem since I will be going the ADN community college route and then bridging over to a BSN, then MSN as I am practicing as an RN. I could pay for my ADN outright pretty soon here since I have been saving to go back to school. The huge chunk of money is in the living expenses. I estimated them to be near 32k for the length of the program (2.5 yrs). I'm the sole provider for my daughter. Her dad lives with us but doesn't really contribute in any way except to care for her while I'm working 6-7 days a week. Long story. So, while I bear the expenses of a single mom(head of household really), I seem to technically not really be one because of her dad's presence in our home. Let me tell you, the man saves me 1500/mo in childcare that I don't have. To go to school even part time would mean me only being able to work part time. When I am not working, caring for my daughter is a full time job because her dad is "off duty", so I don't think I'd be able to be a wonder woman and work full time / school part time with her in my life (sweet little thing). I could not make the grades with that type of schedule. Working part time would not come close to meeting expenses and loans would not cover the gap, private loans are not an option. I seem to be up against a brick wall with this, but nothing in life worth having is ever easy. To be realistic, it seems like I've got quite a few more years of saving to do at least. I just don't know if I can last a few more years of working 7 day weeks. At times I get frustrated that I took the time and finances to complete a B.A., but I'm only getting the types of jobs that people who didn't take the effort or have the opportunity to go to college end up in. Then again I remind myself that this is becoming more and more common in this economic state our country has found itself in. It makes me feel bad that day in and out my job makes absolutely no difference whatsoever. With nursing, there's this whole wealth of knowledge that's always evolving and you make a difference in someone's life every day. I'll be so happy! I'm so impatient to get this process started!

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I don't get it.....I'm a radiation therapy student and I also already have a Bachelor's degree(BM in violin which I can't use any more because of arthritis-I used to play in a symphony) Anyway, my school won't even give me LOANS!! They say that i am disqualified because I have too many hours (so it says on my financial aid package that Im not making good, sufficienct(whatever) SAP progress. I have a overall 3.5 gpa(and a 4.0 fo rmy associates degree). Still, they say I am disqualified from ALL financial aid(EVEN MOST SCHOLOARSHIPS!!). Did you guys have to file a SAP appeal? That is what I'm doing now but they told me not to expect it to work. Also, despite my GPA, I havent landed any scholarships. I don't know if this is because there is a nursing shortage that it seems easier to get loans for nursing programs, if it's my school (florida state college), or if im doing something wrong. Any suggestions would be appreciated!

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You should check out scholarships through the Navy, Air Force and Army... I've looked in to it and in my opinion it looks very good as I have loans as well. So if there's a base close to you look into it. They'll pay for tuition in exchange for you to work in a VA hospital or on their bases. Some of them have MSN degree programs.

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