Students Seeking a Second Bachelor's Degree
If you already have a bachelor’s degree but are seeking a second one, student loans may be available from federal or private sources. Once a first bachelor’s degree is earned, no grant or scholarship* aid is available from federal, state, or University sources.
Establishing Loan Eligibility
Students must apply for admission and be accepted by UE. Students must then file the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov to establish eligibility to participate in the Federal Direct Loan Program. The University of Evansville’s FAFSA code is 001795.
Federal Direct Loan
Eligible students who file the Free Application for Federal Student Aid (FAFSA) may use the Federal Direct Loan, for terms in which they are enrolled for at least 6 credit hours. This loan is offered in the student’s name and repayment begins six-months after college. Some portions of the loan may quality to be Subsidized (interest does not accrue while the student is in college) while other portions are Unsubsidized (interest accrues during college). Eligibility for the interest subsidy is determined by the FAFSA, variables related to the student’s cost of attendance, and other aid resources. New borrowing may be affected by the aggregate limits for outstanding loans, for students who have unpaid loans from prior borrowing.
(based on credit hours accepted toward UE degree)
|Annual Loan Amount for Dependent Students (maximum subsidized)||Total Annual Loan for Independent Students (maximum subsidized)|
|0-29||$5,500 (3,500)||$9,500 ($3,500)|
|30-59||$6,500 (4,500)||$10,500 ($4,500)|
|60 or more||$5,500 (5,500)||$12,500 ($5,500)|
Outstanding Loan Debt
|$31,000 ($23,000)||$57,000 ($23,000)|
Private/Alternative Educational Loans
Many educational lenders offer loans in the student's name, with repayment after graduation. Most lenders require a credit-worthy cosigner and have variable interest rates. Information about private educational loans may be found at studentlendinganalytics.com/alternative_loan_options.
*Exception: Students with a BS degree who are admitted to the graduate level of the UE Doctor of Physical Therapy Program may be eligible for a UE Academic Scholarship.