Financing your ABSN

[CARN2018]

Hello everyone!

This is my first post here on all nurses. I was recently accepted into the ABSN program at CSU San Marcos (hooray!!). While I am filled with excitement and gratification, I am also filled with some apprehension when it comes to the financing of this endeavor. When completing my original undergraduate degree, I was lucky enough to exit school debt free with zero student loans. Because of this, I was under the impression that my undergraduate cap (roughly $45,000) remained intact to this day and that I could utilize that to take out student loans for this degree. And then I did what everyone does to ease their panic, I went to the internet. Basically, it is ALL over the board. Some posters stating you cannot get any loans and others saying their entire education (ABSN) is covered by student loans. Does anyone have some clear insight on this topic?

[JustBeachyNurse, LPN]

You are ineligible for subsidized federal loans or grants as a second bachelor's student. You may be eligible for unsubsidized (you are responsible for interest payment the day the loan is disbursed. Subsidized loans the government pays the interest on your behalf through 6 months post graduation (or 6 months after you separate from the program))

There may be scholarships or school based grants. But you are not eligible for most undergraduate financial aid as a 2nd bac student

You can read about eligibility at the FAFSA or student aid .gov website

[heb06004]

Personally, I'm financing my ABSN through unsubsidized government loans and private loans. I'm also only working 10 hours a week, so my loans are my main source of income this year. I know others that work to support their ABSN or waited until they had enough savings for the program/part of the program.