Published Feb 10, 2015
dcwang
776 Posts
So... I've been accepted at ABSN programs, and I'll need to talk to the financial aid office. But I'd like second opinions as well. The process is very extremely confusing as I read about loans online from both federal websites and others. Since my parents won't cosign on a private loan, I'll be on my own... this makes me really worried.
1. I've never taken out a loan.
2. I'm over 24, but my parents help me out with tuition and stuff, but I should be eligible to file for income tax return?
3. Will I be eligible to take out 12,500 per year.
4. Will I be eligible to take out a Federal Plus Loan without a cosigner as an ABSN student.
5. What other federal loans would you recommend?
Esme12, ASN, BSN, RN
20,908 Posts
Have you gone to the FAFSA site and filled out an application?
https://fafsa.ed.gov/
https://studentloans.gov/myDirectLoan/index.action
Federal Direct Loans
TheCommuter, BSN, RN
102 Articles; 27,612 Posts
You will qualify for far more federal financial aid if you were to be accepted into a direct-entry MSN program or a MEPN program. However, the federal financial aid program usually will not fund second-degree BSN ventures when the applicant already has another bachelors degree.
The goal of these rules is to encourage people to ascend educationally into graduate level education instead of moving laterally into yet another baccalaureate degree program when you've already completed one.
203bravo, MSN, APRN
1,211 Posts
will qualify for subsidized federal loans as far as the PLUS loan .. BSN is not considered a "professional" degree per federal guidelines and as an undergrad only parents of dependent students would apply for these loans. Will not qualify for federal PELL grants.
Cosigner would only be necessary for private student loan, and I would recommend staying away from these if anyway possible.