Loans for ABSN

[Karamia0x]

Hey,

Those of you out there who have gone through an Accelerated/2nd Degree BSN program:

How did you get loans and what are the best places to go through? I heard that it's impossible or very difficult to get FAFSA loans or any type of government loan, so I realize I will probably have to do private loans. Any advice?

[anthroinscrubs]

I think it's most difficult if you have maxed out your loans originally from your first undergraduate degree. If you haven't, there is definitely some wiggle room.

There may be loans offered directly through your college/university.

Definitely always do your FAFSA each year because you never know what will be offered through your school. And then check out some private loans, if you think you'll need them. Try going to your bank. They may have better rates depending on how long you have been with them and your credit score.

[ParkerBC,MSN,RN, PhD, RN]

Not true. You have a 135,000 aggregate limit to federal loans. If you are below that amount, you can use Direct Loans to finance your education. If you have exceeded that amount, then private loans are the other option. Have you checked with your financial aid officer? Also, you can log into your financial aid portal to determine your outstanding student loan balance.

[WookieeRN, BSN, MSN, RN]

Not true. You have a 135,000 aggregate limit to federal loans. If you are below that amount, you can use Direct Loans to finance your education. If you have exceeded that amount, then private loans are the other option. Have you checked with your financial aid officer? Also, you can log into your financial aid portal to determine your outstanding student loan balance.

That is for graduate school. An ABSN is still an undergraduate degree, so the undergraduate degree aggregate limit of $57k still applies.

[ParkerBC,MSN,RN, PhD, RN]

BeachyRN2Be,

Thanks for the clarification! :-)

[windsurfer8, BSN, RN]

Know what the interest rate is you will be paying. Pre calculate what you need and understand what your monthly payment will be. I have worked with nurses paying 900 a month for YEARS in student loans. One lived at home with her mom because she couldn't afford apartment after loans and car payment.

[kreyol77]

And if you were not able to take loans/financial aid for undergrad but going to ABSN program, can you still get some financial aid or loans?

[nurseletDZ]

I was able to get federal loans (max $12,500) but the rest was covered by private loans.

[kreyol77]

Ok thanks nurseletDZ