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What the Loss of “Professional Degree” Status Means to Graduate Nursing Programs

What the Loss of “Professional Degree” Status Means to Graduate Nursing Programs

Dec 9, 2025 | Blog, Federal Loans

New Student Loan Borrowing Limits For Graduate and Healthcare Programs Starting July 1, 2026, you will be limited to borrowing $20,500 per year if you are a new student who plans to earn a Doctor of Nursing Practice (DNP) or Master of Science in Nursing (MSN) degree....
Abe’s Plain, Honest Recap of The Big Beautiful Bill’s Impact on Federal Student Loans

Abe’s Plain, Honest Recap of The Big Beautiful Bill’s Impact on Federal Student Loans

Jul 30, 2025 | Blog, Federal Loans

How the bill affects federal student loan repayment The bill phases out all existing income‑driven repayment plans—including SAVE, PAYE, and ICR—and replaces them with two options: A standard, fixed payment program with terms of 10-25 years The Repayment Assistance...

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Before applying for a private student loan, DR Bank and Monogram LLC recommend exhausting all financial aid alternatives including grants, scholarships, and federal student loans.  

AbeSM student loans are made by DR Bank, Member FDIC (“Lender”).  All loans are subject to individual approval and adherence to Lender’s underwriting guidelines.  Program restrictions and other terms and conditions apply.  LENDER AND MONOGRAM LLC EACH RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. TERMS, CONDITIONS AND RATES ARE SUBJECT TO CHANGE AT ANY TIME WITHOUT NOTICE.

1. The minimum loan amount is $1,000, except for (a) student applicants who are permanent residents of Iowa in which case the minimum loan amount is $1,001, and (b) student applicants or cosigners who are permanent residents of Massachusetts in which case the minimum loan amount is $6,001. The maximum loan amount to cover in-school expenses for each academic year is determined by the school’s cost of attendance, minus other financial aid, as certified by the school.   The requested loan amount cannot cause an individual applicant’s aggregate maximum student loan debt (which includes federal and private student loans) to exceed $225,000. On a specialty graduate loan (Dental, Medical, Healthcare Professionals, Law and MBA) the requested loan amount cannot cause an individual applicant’s aggregate maximum student loan debt to exceed $350,000.

2. In order to estimate your available rates and loan options, with your authorization, DR Bank will initiate a soft credit inquiry. Soft credit inquiries do not affect your credit. Any rates and loan options offered to you are estimates only. 

3. The 15- and 20- year term and Flat Payment Repayment option (paying $25 per month during in-school deferment) are only available for loan amounts of $5,000 or more. Making interest only or flat interest payments during deferment will not reduce the principal balance of the loan. Payment examples (all assume a 14-month deferment period, a six-month grace period before entering repayment, no auto pay discount, and the Interest Only Repayment option): 5 year term: $10,000 loan, one disbursement, with a 5-year repayment term (60 months) and a 9.30% APR would result in a monthly principal and interest payment of $209.04X. 7-year term: $10,000 loan, one disbursement, with a 7-year repayment term (84 months) and a 6.50% APR would result in a monthly principal and interest payment of $148.49. 10-year term: $10,000 loan, one disbursement, with a 10-year repayment term (120 months) and a 6.35% APR would result in a monthly principal and interest payment of $112.79. 15-year term: $10,000 loan, one disbursement, with a 15-year repayment term (180 months) and a 6.30% APR would result in a monthly principal and interest payment of $86.02. 20-year term: $10,000 loan, one disbursement, with, a 20-year repayment term (240 months) and a 8.38% APR would result in a monthly principal and interest payment of $86.02.

4. Interest Only or Flat Payment Repayment loans that reach at least 90 days delinquent during an in-school deferment period will automatically transition to the Full Deferment Repayment option. Under these circumstances,  the interest rate on an original Interest Only loan will increase by one percentage point (1.00%) and the interest rate on an original Flat Payment Repayment loan will increase by one quarter of one percentage point (0.25%). Credit reporting prior to the transition of a loan to the Full Deferment Repayment option will remain on your record. Any unpaid accrued interest at the end of an in-school deferment period may be capitalized in accordance with the Credit Agreement.

5. The fixed rate assigned to a loan will never change except as required by law or if you request and qualify for the on-time payment discount or auto pay discount or automatically qualify for In-School Default Protection (see footnote 4 for details).

6. Interest rates and APRs (Annual Percentage Rates) depend upon (1) the student’s and cosigner’s (if applicable) credit histories, (2) the repayment option and repayment term selected, (3) the expected number of years in deferment, (4) the requested loan amount and (5) other information provided on the online loan application. Rates and terms are effective as of 2/1/26. The variable interest rate for each calendar month is calculated by adding the 30-Day Average Secured Overnight Financing Rate (“SOFR”) index plus a fixed margin assigned to each loan. The current SOFR index, published on the website of the Federal Reserve Bank of New York, is 3.750% as of 2/1/26. The applicable index or margin for variable rate loans may change over time and result in a different APR than shown. The fixed rate assigned to a loan will never change except as required by law or if you request and qualify for an interest rate discount or receive In-School Default Protection (see footnote 4 for details).

7. APRs assume a $10,000 loan with one disbursement. The low APRs assume a 7-year term, and the Interest-Only Repayment option with payments beginning 30-60 days after the disbursement via auto pay (see footnote 18 for auto pay details). The high APRs assume a 5-year term with the Interest-Only Repayment option, a 31-month deferment period, and a six-month grace period before entering repayment.

8. The principal reduction is based on the total dollar amount of all disbursements made, excluding any amounts that are reduced, canceled, or returned. The reward must be requested from the Servicer, the student borrower must have earned a bachelor’s degree or higher and provide proof of graduation to the Servicer. This reward is available once during the life of the loan, regardless of whether the student receives more than one degree.

9. The 0.05% interest rate reduction will automatically be applied for every 6 consecutive on-time monthly payments of principal and interest made during the repayment term up to a maximum interest rate discount of 0.25%. During any period of deferment or forbearance the interest rate will increase by any previously received On-time Payment Benefit reduction(s). The interest rate will return to the reduced interest rate following such period. Use of a deferment or forbearance will reset the number of consecutive monthly payments of principal and interest made to zero. A late payment will disqualify the loan from receiving any additional interest rate reductions for on-time payments.

10. Borrowers with Interest Only, Flat Payment or Full Deferment Loans may defer payments for an initial period of forty-eight (48) months while enrolled in a medical internship or residency program. With the Full Deferment Repayment option principal and interest payments are deferred for a period of up to twenty-four (24) months, and payment of principal but not interest is deferred for a subsequent period of up to twenty-four (24) months. With the Interest Only Repayment or Flat Payment Repayment option, payment of principal but not interest is deferred for a period of up to forty-eight (48) months. Borrowers with Interest Only, Flat Payment or Full Deferment Loans may further defer principal payments for the duration of the student borrower’s enrollment in a medical internship or residency program, offered in twelve (12) month increments. The student borrower must provide official proof to the Servicer of continued enrollment on an annual basis. Any accrued and unpaid interest may be capitalized at the end of this additional deferment period in accordance with the Credit Agreement. The repayment term will be extended by the number of total months of deferment applied to the loan.

11. Available in increments of no more than three (3) months, for an initial maximum period of twelve (12) months.  During a forbearance period, principal and interest payments are deferred and the interest that accrues during the forbearance period may be capitalized at the expiration of such forbearance period in accordance with the Credit Agreement.  The repayment term will be extended by the total number of months of forbearance applied to the loan.

12. Medical Forbearance is available to assist borrowers unable to pay their loan due to an existing and persisting medical condition. Medical Forbearance is granted in increments of no more than three (3) months, for a maximum of twelve (12) months during the life of the loan. To qualify, a physician must certify that the borrower has an existing and persisting medical condition that is not expected to be permanent, and that prevents them from engaging in a level of work performed for pay or profit that involves doing significant physical and/or mental activities or the borrower must provide the FMLA approval notice “Designation Notice, form WH-382”.

13. The student borrower must meet certain credit and other criteria, and 12 consecutive monthly principal and interest payments or lump sum payments equal to 12 monthly principal and interest payments must have been received by the Servicer during any 12-month period. While a loan is in a reduced repayment plan or while a request for a reduced payment plan is pending, borrowers are not eligible to apply for cosigner release.

14. A Returning Borrower is a student applicant or a cosigner with either (a) a prior application that is awaiting school certification, or (b) a prior loan that has a disbursement scheduled or completed. Income verification will be waived for Returning Borrowers who report the same employer, employment status, singular income source and an annual income amount within 25% of the annual income amount previously verified from such income source on a prior application or loan with an income verified date within eighteen (18) months of the hard pull decision date of the new application. If more than one prior application or loan with an income verified date within eighteen (18) months of the hard pull decision date for the creditworthy applicant exists, the most recent qualifying application or loan will be used to verify income.

15. The grace period is six months. In the case of Abe Law loans, the grace period is nine months. The grace period begins on the earlier of the date (a) the student borrower graduates, (b) the student borrower ceases to be enrolled, or (c) that is 60 months from the first disbursement date, but in no case, earlier than six months after the first disbursement date. The Immediate Repayment option does not have a grace period.

16. The extended grace period is six months. In the case of Abe Law loans, the extended grace period is three months. If eligible, the extended grace period begins on either (a) the day following the initial grace period, (b) the first day of delinquency during the repayment term, or (c) the due date of the current level bill. To be eligible for the extended grace period, the loan cannot have entered the repayment term more than ninety (90) days prior to the date the Servicer receives the request for payment relief. The Immediate Repayment option does not have an extended grace period. The repayment term will be extended by the number of months of extended grace applied to the loan.

17. Applications may be accepted up to the earlier of eighteen calendar months after the student borrower’s academic period end date or graduation date.

18. Earn a 0.25% interest rate reduction for making automatic payments from a bank account (“auto pay discount”) by completing the direct debit form accessible on the Servicer’s website. The auto pay discount is in addition to other discounts. The auto pay discount will be applied after the Servicer validates your bank account information. Automatic payments and the associated discount will be temporarily discontinued (1) if you elect to stop automatic deduction of payments and (2) during periods when you are not required to make payments. The discount will be permanently discontinued in the event three automatic deductions are returned by the financial institution for any reason.

19. The Abe student loan is available to applicants who are U.S. citizens, permanent resident aliens, or Eligible Non-Citizens (DACA recipients). Eligible Non-Citizens (DACA recipients) and international students can apply with an eligible cosigner who is a U.S. citizen or permanent resident alien.

20. While the student borrower is enrolled at an approved school and during the grace period (a) Full Deferment Repayment option loans will have principal and interest payments deferred, (b) Flat Payment Repayment option loans will have principal payments deferred while monthly $25 interest payments are due, and (c) Interest Only Repayment option loans will have principal payments deferred while monthly interest payments are due.  The Immediate Repayment option does not have an in-school deferment period. The total initial deferment period may not exceed sixty (60) months from the first disbursement date, plus the program specific grace period. Any accrued and unpaid interest may be capitalized  when repayment of principal and interest begins in accordance with the Credit Agreement. (See footnote 3 for payment examples).

21. If after utilizing all other payment relief options offered under the program, the borrower is still having trouble making monthly principal and interest payments, the Servicer may extend the repayment term on the loan by sixty (60) months upon request. The loan will then be reamortized resulting in a reduced monthly principal and interest payment amount. The borrower will continue to be billed for principal and interest payments on the loan.

22. Natural Disaster Forbearance is available to assist borrowers who are unable to pay their loan due to a natural disaster, determined by the Federal Emergency Management Agency (“FEMA”), impacting their home, place of employment or the school they are attending. Natural Disaster Forbearance lasts for a maximum period of three (3) months, during which payments are deferred. Any accrued and unpaid interest may be capitalized at the end of the Natural Disaster Forbearance period in accordance with the Credit Agreement.

23. A dollar or more of income annually is required of the student applicant on a student only application and of the cosigner on a cosigned application. Proof may be required.

24. The student must be the legal age of majority at the time of application, or at least 17 years of age if applying with a cosigner who meets the age of majority requirements in the cosigner’s state of residence. The legal age of majority is 18 years of age in every state except Nebraska (19 years old, only for wards of the state), and Puerto Rico (21 years old).  Private student loans funded by DR Bank are available to applicants who are U.S. citizens, permanent resident aliens, or Eligible Non-Citizens (DACA recipients) who are not permanent residents of West Virginia. Eligible Non-Citizens (DACA recipients) and international students must apply with an eligible cosigner who is a U.S. citizen or permanent resident alien.

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