Financial aid for the accelerated BSN-RN program?

  1. Greetings to all-nurses,

    I am pouring through the reams of information available on the internet on Accelerated BSN-RN programs. This is a second career move- a mid life change, and I have made use of my BA in Psychology and MA in marketing when I was in the corporate world and medicine has been on my mind for years. Glad to finally be doing something about it, though find it all to be a little intimidating with the intense competition for programs and the cost.

    Is there financial aid available to these programs? Thanks.
  2. Visit Passionate867530 profile page

    About Passionate867530

    Joined: Mar '09; Posts: 3


  3. by   **All Heart RN**
    I'm not in an accelerated program but I am in a BSN program and it's my 2nd degree. I was able to still take out federal loans (Stafford) but after this quarter all of my funds through Stafford will be tapped out due to my first BA degree.

    In Ohio last year, Bush passed a bill that increased the total amount that 2nd degree seekers could take out through federeal loans. I believe he increased it from ~ $46,000 to ~ $57,500. I'm not sure if this amount would be of any use to you but it definitely helped me out.

    At this point, I have 2 more quarters left and I'll have to take out a small Sallie Mae loan to cover it. Other than private loans, if you work for a hospital, they may pay a portion or 100% of your tuition but you'll have to sign a contract stating you'll work there for 2 yrs following graduation. My hospital offers this program but I want a one-way ticket out of my town after graduation.

    Hope you find something...Good luck!
  4. by   Passionate867530
    Does that mean that Bush's program only relates to Ohio? I live in Connecticut and have never taken out financial aid so I have no idea if I can get it and how much and all of that. It's extremely confusing trying to get answers online because things seem to vary by state.
  5. by   **All Heart RN**
    I believe he increased funds for financial aid in all states but I can only specifically reference Ohio. I believe all students are eligible for federal loans through Stafford. If you have never received financial aid before then you should be eligible for at least $46,000 (through Ohio guidelines, anyway) but don't quote me on that.

    Definitely check with your financial aid office at your school (versus checking online). They will be able to give you direct answers to all of your questions and they will also be able to guide you through filling out the FAFSA (the application for financial aid).

    FAFSA's website is You'll be able to fill out an application through this website and the information will be sent to your school. If you choose to fill out an application online, you'll need to call your school's financial aid office to receive their school code so that you can enter this code on your application form.

    Hope this helps!
  6. by   Passionate867530
    Thanks! I looked quickly at it, and it says this money is at anywhere from 6.4-6.8% interest rate which seems excessivly high for a STUDENT loan! My friend got a student loan for her MSW and she paid 2% interest. That seems more like it. I think I'd rather borrow monies from relatives than pay back a long term loan at such an outragious rate. It's going to take years to pay that back and that just sounds like robbery. Like, the banks themselves must offer lower interest loans than that. I think that's higher than what mortages are going for these days. If that's the case, then I can't do it.:zzzzz
  7. by   **All Heart RN**
    Wow! That is high. My interest rate was actually figured at a much lower rate. My interest rate was around 2-3%.
  8. by   Prettyladie
    hmm well that 6% sounds normal. thats how its been since i started college in 2005
  9. by   LifelongDream
    I was able to get financial aid for my Accelerated Second Degree BSN Program. In our program, not only do you receive financial aid in the form of loans, but you also receive scholarships! Good luck in the program.
  10. by   couchpants
    Since you mentioned you are in CT, you may want to look into the VA Nursing Academy at Fairfield University (if you haven't already):

    "a scholarship program which will provide financial assistance in exchange for an obligation to work at a VA facility anywhere in the United States for a period of time following graduation from Fairfield's Second Degree Nursing Program."

    Good luck.
  11. by   meggzluv
    Unfortunately, 6% is not high...that's what my 1st degree Stafford loans have for an interest rate.