If you’re counting on federal or state support, yes. When your nursing program isn’t accredited, you can’t access the primary sources of aid many RNs rely on to pay for their degree. You also may not qualify for government programs that can help with loans after graduation.
The following types of aid and assistance are not available to students earning their degree in an unaccredited MSN program:
Federal loans and grants through the U.S. Department of Education
State grants and scholarships
State and federal loan repayment programs for healthcare workers
Public service loan forgiveness programs
Tuition reimbursement programs for government employees, service members and veterans
Most employer-sponsored tuition reimbursement programs
Private loans may still be an option, depending on your credit and income, but interest rates vary and repayment plans can be strict. The amounts you borrow won’t be eligible for federal loan consolidation either, so consider all of your options before committing to this type of funding or an unaccredited degree program.