school with only private loans?

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I am looking into a school for LPN . It is perfect for me in every way but it only takes private loans (sally may), no federal loans. Anybody hear of anything like this before? Anybody know why?:confused:

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Specializes in TCU.

hi

It may be because the school isn't accredited, you may want to check that out first.

I did a quick search on the reasons why, and came up with this:

http://articles.directorym.com/Student_Loans_Glossary-a800071.html

Do some searching first before you invest your $$ and time in this school.

Good Luck & CHEERS! :loveya:

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Beware!!!!!!!!!! All accredited schools that I know always help with application for Federal Aide. What kind of school wants to put their students through the tough private loans? Please lookout:banghead:!!!!!

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I am looking into a school for LPN . It is perfect for me in every way but it only takes private loans (sally may), no federal loans. Anybody hear of anything like this before? Anybody know why?:confused:

Does it happen to be Hondros College? I am looking into their program and am getting worried because from what I understand, they do not do federal loans, only Sallie Mae. I have heard a lot of bad things about private loans, especially Sallie Mae, and I just wondered why they would not offer federal loans...I looked them up on the OH Board of Nursing and they are accredited, although only conditionally because they are a new program. I am going to meet with some school advisors tomorrow and will ask about it then. Will let you know what they say!

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Specializes in Case mgmt., rehab, (CRRN), LTC & psych.

I attended a trade school program that only accepted private student loans, cash, credit, and cashiers cheques. If the program is not regionally accredited, it will likely not accept federal financial aid.

Although your LPN program is approved by your state's board of nursing, I'd venture to guess that it is not regionally accredited.

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I attended a trade school program that only accepted private student loans, cash, credit, and cashiers cheques. If the program is not regionally accredited, it will likely not accept federal financial aid.

Although your LPN program is approved by your state's board of nursing, I'd venture to guess that it is not regionally accredited.

Were you overall satisfied with your program, even though it wasn't regionally accredited? Have you had any problems finding employment because of that? Around here, there is a standard 2-year wait for most RN programs and this is one of few I could find that doesn't have a wait. I don't know if that is because it is new, because of the loan issue, or the accreditation. Thanks!!

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Specializes in Case mgmt., rehab, (CRRN), LTC & psych.
Were you overall satisfied with your program, even though it wasn't regionally accredited? Have you had any problems finding employment because of that? Around here, there is a standard 2-year wait for most RN programs and this is one of few I could find that doesn't have a wait. I don't know if that is because it is new, because of the loan issue, or the accreditation. Thanks!!
I've never had issues finding employment as the result of attending a private trade school program. In my area, hiring managers do not really care where you attended school, just as long as you are a warm body with a license who is willing to fill their empty shifts. No one has ever asked me where I attended school.
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Hi everybody,

I had posted before asking anybody to be aware of a school that does not accept Federal loans.

However, yesterday I was watching the Suze Orman show and it shed some new light on the issue. As she said, colleges can opt-out of Federal loans because of administrative costs that they are needed to pay.

Basically, YES there are colleges that dont have to accept these loans so go ahead and look into this school. But before you do anything ask them if this is the reason why and if not what's their reason. If legit they will have no reason not to tell u.

Good luck and I hope this helped a little.:up:

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Thanks, Commuter and pn77, for your input! You have been very helpful. I may not qualify for the federal loans anyway due to having 2 bachelor's degrees, but it is still a concern of mine. I am going to the school tonight and will let everyone know what they say!

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Does it happen to be Hondros College? I am looking into their program and am getting worried because from what I understand, they do not do federal loans, only Sallie Mae. I have heard a lot of bad things about private loans, especially Sallie Mae, and I just wondered why they would not offer federal loans...I looked them up on the OH Board of Nursing and they are accredited, although only conditionally because they are a new program. I am going to meet with some school advisors tomorrow and will ask about it then. Will let you know what they say!

Hi! I saw your post and I wanted to let you know that I will be attending Hondros College next month and I just got my financial situation worked out. They DO accept federal aid, so if you are considering applying there you might want to get your FAFSA sent there so you'll be a step ahead. The only problem I am having is that there are still costs that the FAFSA does not cover for me and I am having a hard time finding a private lender with Hondros college on their list. I'm not sure why, but lenders don't seem to know this school even exists. The only one I have found is Sallie Mae and I have heard some terrible things about them... I am still looking, but it's hard. The school seems like a greaat place to study though. It's a great program and they enroll every quarter, so there's no waiting list! There also aren't pre-requisites like many other nursing programs. Everything is built into the program and you take it all there. Also... They have a 2 step program where you can get your LPN in a year and continue to get your RN. Meanwhile, you can be working part time as an LPN while you work on your RN... I like this because it takes the same amount of time to get your LPN, but you get to take a little pause in the middle and get your LPN and make more money rather than going through the whole program with nothing until you graduate with your RN. I also asked about their pass rate on the boards. The admissions counselor told me they have only had 1 class go through the program (it's a new program) and that 23 out of 25 in the class passed their boards. He said he knew the class personally and one of the people who didn't pass was an ESL student and the other one had test anxiety, but has continued on and is doing very well in the RN portion of the program... just didn't pass the LPN boards because of the test anxiety. So... I think it sounds like a great program and I can't wait to get started! I just need to figure out who I'm going to borrow the remaining $3,000 from :(

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Hi! I saw your post and I wanted to let you know that I will be attending Hondros College next month and I just got my financial situation worked out. They DO accept federal aid, so if you are considering applying there you might want to get your FAFSA sent there so you'll be a step ahead. The only problem I am having is that there are still costs that the FAFSA does not cover for me and I am having a hard time finding a private lender with Hondros college on their list. I'm not sure why, but lenders don't seem to know this school even exists. The only one I have found is Sallie Mae and I have heard some terrible things about them... I am still looking, but it's hard. The school seems like a greaat place to study though. It's a great program and they enroll every quarter, so there's no waiting list! There also aren't pre-requisites like many other nursing programs. Everything is built into the program and you take it all there. Also... They have a 2 step program where you can get your LPN in a year and continue to get your RN. Meanwhile, you can be working part time as an LPN while you work on your RN... I like this because it takes the same amount of time to get your LPN, but you get to take a little pause in the middle and get your LPN and make more money rather than going through the whole program with nothing until you graduate with your RN. I also asked about their pass rate on the boards. The admissions counselor told me they have only had 1 class go through the program (it's a new program) and that 23 out of 25 in the class passed their boards. He said he knew the class personally and one of the people who didn't pass was an ESL student and the other one had test anxiety, but has continued on and is doing very well in the RN portion of the program... just didn't pass the LPN boards because of the test anxiety. So... I think it sounds like a great program and I can't wait to get started! I just need to figure out who I'm going to borrow the remaining $3,000 from :(

Your financial aid office should know which private lenders they are on "the list" for.

Peace,

CuriousMe

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Does it happen to be Hondros College? I am looking into their program and am getting worried because from what I understand, they do not do federal loans, only Sallie Mae. I have heard a lot of bad things about private loans, especially Sallie Mae, and I just wondered why they would not offer federal loans...I looked them up on the OH Board of Nursing and they are accredited, although only conditionally because they are a new program. I am going to meet with some school advisors tomorrow and will ask about it then. Will let you know what they say!

Nursing programs can be approved by the state BON and not be academically accredited. If this is the case, it will only matter if you want to try to go on with your education (go from LPN to RN...etc). If your program wasn't accredited and you want to go back to school, you might need to re-take the classes you took at your first class as they might not count at your new school.

Hope this helps!

Peace,

CuriousMe

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