MSN
students may be considered for federal student loans, private student
loans, private scholarships, and a limited number of need-based
institutional Patron Scholarships. MSN students are encouraged to
monitor the Scholarship Bulletin Board for announcements of any private
scholarships which may become available.
Click here to go to the Scholarship Bulletin Board
Contact the Financial aid Office at (920) 433-5801 or email lena.goodman@bcon.edu for more information or assistance.
Federal
Stafford Loans are available to qualifying students enrolled in the MSN
Program at Bellin College of Nursing. To qualify, a student must:
File
a Free Application for Federal Student Aid (FAFSA) either paper form or
on the Internet at www.fafsa.ed.gov and list BCON in the College
Release section (code number 006639)
Be enrolled as
at least a half-time student in a given Term. Half-time is defined as
at least three (3) credits per term of nursing and general education
course credits combined. At least one nursing course must be taken in a
term in order to receive aid for that term.
Not be in default on any prior federal student loans or owe a refund on any federal student grants.
Be a US citizen or eligible non-citizen.
Interest Rate-variable, capped at 8.25%; currently at 2.77% while enrolled (2004-2005)
Loan Fees-up to 4% for origination and guarantee fees deducted prior to disbursement.
Disbursement-at least two equal installments (or one per Term if enrolled in more than one Term); funds sent directly to BCON.
Repayment-begins six months after graduation or the date no longer enrolled at least half-time.
Minimum Payment-$50 per month; actual will be determined based upon total loan debt.
Repayment Length-up to ten (10) years; may be extended depending upon total debt
Annual
Limit-$18,500 total with subsidized and unsubsidized loans combined;
under no circumstances may a student borrow more than the total cost of
education (actual totals based upon individual enrollment data and
other factors) no more than $8,500 subsidized.
Aggregate Limit-$138,500 includes all undergraduate Stafford Loans
Subsidized-need-based; no interest accrues while enrolled at least half-time
Unsubsidized-not need-based; interest accrues and must be either paid or capitalized while enrolled
Something to think about......
A
disbursement must be returned to the lender if the student is not
enrolled for the intended term. Returned loan checks result in
cancellation of all subsequent scheduled disbursements, thus requiring
re-certification for remaining loan eligibility for subsequent terms of
re-enrollment.
This is a loan that must be repaid so borrow only what is needed.
You
may be required to file a deferment form for each Term to indicate to
your lender (or Great Lakes) that you are enrolled at least half-time
in order to avoid entering repayment. Blank deferment forms are
available from the BCON financial aid office or may be downloaded from
www.mygreatlakes.com (click on Borrowers then Forms. You will need to
register for a user ID and password in order to access the In School
Deferment form- Adobe Acrobat required).
The loan
process must be repeated every academic year (with the exception of the
completion of the MPN- once one is on file with the lender, you do not
have to complete another unless you change lenders).
