Accepted! Not so fast....

  1. I quit school 7 years ago during my junior year when my husband and I got pregnant with our first son. I decided to go back to school in 2016 to become a nurse. I chose Ivy Tech because my loans are in default (Oops).
    Ivy Tech is very reasonable, so I'm going there because I can afford to pay out of pocket.
    I am paying every month to get out of default and I will be out of default this August.

    Anyway, I went to Ivy for a year and had a 4.0 GPA.
    I applied to Valparaiso University last June to become a nurse. They wanted to take me for the Fall 2017 Accelerated BSN option, but I decided to stay at Ivy Tech for one more year to complete my non-nursing courses and avoid as much high cost as possible. I completed them and was accepted into Valparaiso University's Accelerated BSN option this Fall 2018 with a 3.8 GPA (Class of 2020).

    I contacted my loan servicer and they sent a clearance letter to the University so that I could get my financial aid. In the mean time, I went to student orientation, got my student ID, registered for my nursing classes, and then completed all of the health forms background check, CPR...

    I got an email last week from the financial aid office that I have been cleared, but I have reached my financial aid maximum and only have $2,000 left. That's it. I got the $20,000 a year transfer scholarship, making my bill $13,000 a semester. Financial aid said that my only option is private loans. I applied for them and was turned down. I have bad credit and have been a housewife for 7 years. I used co-signers with good credit and was still denied. I have been applying for scholarships also, but I'm not even sure if I'll get anything. I am out of options for Valpo. I think what angers me the most is that the loan servicer probably knew that I had no money left, but didn't care to even say so, otherwise I'd probably stay in default. Since my GPA is high I checked with Phi Theta Kappa and they give transfer students $3000 a year for Valpo, but I'd still have a $10,000 bill each semester.

    Needless to say, I spent two years trying to get into a nursing program, and I can't even go. I am not trying to whine, but this was an enormous blow to me and my hard work and I am just devastated. I locked myself away and did not eat for 2 days. I'm ok now. I'm pretty much dragging my feet on telling my friends, family, and VU admissions that I'm not going. Financial aid office is like "whatever". Right now I'm trying Purdue, but we all know how competitive it is to even get into a school to be a nurse. Does anyone have any information about Purdue Northwest? How many applicants they get and how many they actually take? I know that they have a great program, but hard to get in. I have a meeting with Purdue next week. Fingers crossed it goes well.

    Defeated.
    Last edit by srmore11 on Jul 2
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    About srmore11

    Joined: Jun '16; Posts: 10; Likes: 2
    from IN , US

    16 Comments

  3. by   AceOfHearts<3
    It is your responsibility to pay your existing loans and to know what you qualify for. I knew long before doing my accelerated BSN program that I would be getting minimal federal aid and would need private loans/savings for the bulk of my program. Your loan servicer's priority is getting you to pay off your current loans.

    Defaulting on loans impacts everyone- not just you. Student loan default may put American economy at risk - Business Insider
    Why are you so special that you think you don't need to pay your loans unless you want more loans?

    I get that you are disappointed, but it was your responsibility to line everything up and do your research.

    I pay for my loans every month. I want to go to grad school, but I've made the decision that I won't until I've paid off my current loans.
  4. by   Lipoma
    Have you tried Discover Financials? I got my loan from them without a cosigner.
  5. by   srmore11
    No, thanks but I'm done applying for loans. I'm just going to look for something more reasonable.
  6. by   meanmaryjean
    Why not stay at Ivy Tech? You can afford it. They are a quality program. Why the expensive option? I don't get it.
  7. by   Mergirlc
    I'm just curious, have you checked all the financials w/ Purdue since you might want to attend there, if accepted?
    I would recommend doing your homework on all the financials involved in whatever school you might be thinking of attending. It's a waste of time to apply, if there is no way to get all the financial assistance you need to cover everything. Hopefully Purdue might have some better options for you. Good luck.
  8. by   missmollie
    Try to get into an associates program. I had a previous degree from Ball State, did the stay at home mom gig for 6 years, then attended a community college to obtain my ADN because of the same money issue you are having.

    Once you have your ADN, then apply at a hospital that offers some financial incentive for obtaining your BSN. There is still a pathway to becoming a nurse, and both ADN and BSN graduates take the same NCLEX.
  9. by   adubs923
    I'm sorry that happened to you. I know it's disappointing but I also believe there's a reason for everything. You should not go any further into debt to pursue your career. If you already have many undergrad/gen ed classes and you've completed your pre-nursing classes, why not go to a diploma or Associate's program? Once you pass the NCLEX you can do a RN-BSN bridge program. Depending on where you go, this could be an affordable option as long as your pre-nursing classes are from an accredited institution. Is there a reason why you want to do an accelerated program?
  10. by   Guy in Babyland
    Quote from meanmaryjean
    Why not stay at Ivy Tech? You can afford it. They are a quality program. Why the expensive option? I don't get it.
    My thoughts exactly, why get your ASN from Ivy Tech. I started my ABSN program at ISU the same time as my niece started her ABSN program at Valpo. We finished within a few weeks of each other. My degree cost $20k and hers cost $68K.
  11. by   broughden
    The rule you have run into, and Im frankly surprised no one in the nursing school or financial aid office warned you about this, is called SAP (Satisfactory Academic Progress). Institutions of higher education are required by the federal government to monitor the academic progress of all students receiving financial aid. Students who fail to make satisfactory academic progress toward their academic objective become ineligible for further aid, as required by federal guidelines. The maximum timeframe is 150% of the normal timeframe for the program, such as 6 years for a 4-year degree and 3 years for a 2-year degree. After violating the 150% maximum timeframe restriction, the student is no longer eligible for federal student aid and often institutional college aid as well.
    There is an appeals process. You NEED to file an appeal immediately with the financial aid office.

    Secondly, Why did you apply to an incredibly expensive private university in the first place? Re-apply to every state public university and community college in your area.
  12. by   meanmaryjean
    Quote from Guy in Babyland
    My thoughts exactly, why get your ASN from Ivy Tech. I started my ABSN program at ISU the same time as my niece started her ABSN program at Valpo. We finished within a few weeks of each other. My degree cost $20k and hers cost $68K.
    And an ADN from Ivy Tech is under $12k if you have all the non-nursing courses done.
  13. by   Horseshoe
    Quote from srmore11
    [LEFT] I chose Ivy Tech because my loans are in default (Oops).
    You probably don't mean to come off as cavalier, but I could see how that would rub people wrong.

    I agree with the others. There is no reason to pay big money for a nursing degree that you can get cheaply elsewhere. ADN or BSN, it's the same exam, same license.

    You can always to an RN to BSN program later. There are numerous affordable programs.
  14. by   Pixie.RN
    That's great that your loans are almost out of default! Congrats on that hard work. Now your goal is to spend as little as possible for your RN. Stay at Ivy, get an ASN, then bridge to BSN later at one of the universities you want to attend now. Win win!

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