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Federal School Code
Accelerated Nursing Students
As degree-seeking students, accelerated nursing students are eligible to receive financial aid. However since Accel students already have a bachelor’s degree, the aid is limited to loans and work study (not federal grants). Since the program tuition exceeds the maximum amount of federal loans that can be disbursed in a given year, many students also apply for alternative education loans, like the nursing loan or private loans, or scholarships.
When to apply for financial aid
Despite being a one-year program, Accel students must file two FAFSAs depending on their cohort start date. Students will be notified of their financial aid award via email prior to the on-campus Accel orientation. Other than the initial $5,000 tuition deposit, students will not have a payment due until approximately one month into the program.
February and May Cohorts
The February and May cohorts occur over two “aid years.” If you are applying for admission to the February or May cohort, file the FAFSA for Year 1 and Year 2 right away. Keep in mind that you’ll need tax information for two different calendar years. The four modules generally correspond to the academic calendar as follows:
- Module 1: Spring, Aid Year 1
- Module 2: Summer, Aid Year 2
- Module 3: Fall, Aid Year 2
- Module 4: Spring, Aid Year 2
The October cohort program takes place over two “aid years.” If you are applying for admission to the October cohort, file the FAFSA for Year 1 right away. You will not be able to file for Year 2 until after Jan. 1. File your federal taxes as soon as possible and then complete the Year 2 FAFSA. Because of the break between FAFSA filing, you will be awarded aid twice – once at the start of the program and again in mid-April. The four modules generally correspond to the academic calendar as follows:
Module 1: Fall, Aid Year 1
- Module 2: Spring, Aid Year 1
- Module 3: Summer, Aid Year 2
- Module 4: Fall, Aid Year 2
The nursing loan is a need-based loan through the University for students pursuing a degree in nursing.
Unsubsidized Student Loan
Interest begins accruing on federal unsubsidized loans as soon as the student begins school.
Subsidized Student Loan
Federal subsidized loans are available to select students based on FAFSA information and loan history.
These loans help students bridge the gap between the cost of education and the amount of federal aid offered.
Frequently Asked Questions
Additional questions can be directed to Financial Aid Adviser Maylean Tryon at firstname.lastname@example.org.
Can I receive aid for the prerequisite courses that I'm taking before starting the Accel program?
Generally not. In order to receive federal loans, students must be enrolled at half-time status (6–12 credits) in a degree-seeking program. Students may be able to secure a private (alternative) loan to cover the cost of prerequisite coursework.
Can I receive aid for expenses beyond tuition?
Yes. The Financial Aid Office bases financial aid needs on an estimated budget that includes tuition, room and board, transportation, books and supplies and miscellaneous personal expenses. We also budget for special equipment, uniforms and other costs specific to the Accel program. If additional funds are needed to cover costs beyond the amount of federal loans received, you must secure a private (alternative) loan. Our office does not recommend pursuing private loans until after federal financial aid has been awarded and accounted for.
I have a bachelor's degree and live on my own. The FAFSA states that I'm a "dependent student" and need to provide parent information. Do I really need to do this?
Yes. A student is only considered independent if they:
- Turn 24 by Jan. 1 of the aid year
- Is working on a degree beyond a bachelor’s degree
- Is married
- Has children or other dependents whom they support more than 50%
- Is/was a ward/dependent of the court, or if both parents are deceased
- Is a veteran of the US Armed Forces or is serving on active duty in the Armed Forces
I'm looking at my financial aid awards. Do I really need all these loans?
All financial aid for the Accel program comes in forms of loans, which must be repaid. Students are eligible to accept the full amount of aid awarded, but are not required to do so. The amount of loans you take out is entirely up to you. Our office advises students to borrow as little as possible to meet your basic, estimated needs. In most cases, it is easier to send back unneeded loan funds than it is to apply for more loans later on.
I completed a Master Promissory Note (MPN) for the federal loans used for my first bachelor's degree. Do I need to complete another one?
Yes. Unless you attended UW Oshkosh and borrowed a federal student loan the semester before beginning this program, you will need to fill out a new Master Promissory Note (MPN).
On my “To-Do List” it says to complete the Master Promissory Note (MPN) for my nursing loan, but I am unable to do this because when I enter my information it says there is nothing for that account. What should I do?
Your MPN has not yet been created. Please wait until you receive an email notification from Student Loans at UWO. It can take up to one week after the loan has been accepted for the MPN to be created.
Is the MPN the same for federal loans and alternative loans?
No. There are separate MPNs for federal and private (alternative) loans. Each lender has its own process and promissory note.
Will financial aid dollars come directly to me, or to the University?
Loan funds are almost always disbursed electronically to the school. The Financial Aid Office applies those funds to your tuition bill (i.e. student account). Once your tuition for the semester is paid in full, the remaining financial aid balance will be released to you via check or direct deposit. You may sign up for direct deposit on TitanWeb.
When will I have to start paying my loans back?
You are not required to make payments on federal loans while you are in school. This type of loan repayment begins six months after a student graduates. Payments on private (alternative) loans are typically deferred until after graduation as well. The specific timetable will vary from lender to lender.
I heard that nurses may not have to pay back student loans. Is this true?
Some students may be eligible for loan repayment through the U.S. Department of Health and Human Services’ Nursing Education Loan Repayment Program.
Hours and Location
Dempsey Hall, Room 104
Walk-In Hours: 8:00 a.m.–4:00 p.m.
Office Hours: 8 a.m.–4:30 p.m.
Financial Aid Office
800 Algoma Blvd.
Oshkosh, WI 54901