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Graduate Nursing Programs lose “Professional Degree” Status and Associated Federal Loan Benefits

Graduate Nursing Programs lose “Professional Degree” Status and Associated Federal Loan Benefits

by Abe | Dec 9, 2025 | Student Loan News

A recent decision by the U.S. Department of Education is raising concerns among higher education institutions as well as tens of thousands of graduate level nursing students.   What Changed? As part of the One Big Beautiful Bill Act, the Department of Education...
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

by Abe | Jul 30, 2025 | Student Loan News

On July 4th, 2025, President Trump signed into law the One Big Beautiful Bill Act (commonly called the “Big Beautiful Bill”) after narrow passage by Congress.  In addition to SNAP (subsidized food benefits) and Medicaid (subsidized medical care), the bill effectively...

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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.  

The 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, such as federal student loans, scholarships, or grants.  The loan amount must be certified by the school. The loan amount cannot cause the aggregate maximum student loan debt (which includes federal and private student loans), on an undergraduate or graduate loan to exceed $225,000 per applicant (on cosigned applications, separate calculations are performed for the student and cosigner).  On a specialty graduate loan (Dental, Medical, Healthcare Professionals, Law and MBA) the loan amount cannot cause the aggregate maximum student loan debt to exceed $350,000.

2. In order to estimate your available rates and loan options, DR Bank will perform a soft credit inquiry, as authorized by you. Soft credit inquiries do not affect your credit. If available, the rates and loan options offered to you are estimates only.  Once you submit your application, DR Bank may perform a hard credit inquiry, as authorized by you. Loan approval, options, and final rates depend on the verification of information provided on your application, and information obtained from the credit inquiries of the student applicant and, if applicable, the cosigner.

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 $209.04. 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. Borrowers with Interest Only or Flat Payment Repayment loans that reach at least 90 days delinquent during an in-school deferment period will automatically have their repayment option transitioned from the Interest Only or Flat Payment Repayment option to the Full Deferment Repayment option. Under these circumstances, the interest rate on the loan will automatically increase to match the interest rate associated with the corresponding Full Deferment loan. For an Interest Only loan, the interest rate will increase by one percentage point (1.00%). For a Flat Payment Repayment loan, the interest rate 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. If approved, applicants will be notified of the rate applicable to your loan. Rates and terms are effective as of 12/1/25. The variable interest rate for each calendar month is calculated by adding the 30-Day Average Secured Overnight Financing Rate (“SOFR”) index, or a replacement index if the SOFR index is no longer available, plus a fixed margin assigned to each loan. The SOFR index is published on the website of the Federal Reserve Bank of New York. The current SOFR index is 4.125% as of 12/1/25. The variable interest rate will change if the SOFR index changes or if a new index is chosen or if you automatically qualify for In-School Default Protection (see footnote 4 for details). 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 the on-time payment discount or auto pay discount or, automatically qualify for In-School Default Protection (see footnote 4 for details).

7. APRs assume a $10,000 loan with one disbursement. 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. 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 17 for auto pay details.

8. The principal reduction is based on the total dollar amount of all disbursements made, excluding any amounts that are reduced, canceled, or returned. To receive this principal reduction, it must be requested from the Servicer, the student borrower must have earned a bachelor’s degree or higher and proof of such graduation must be provided 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 monthly payments of principal and interest made during the repayment term within 10 calendar days after their due date up to a maximum interest rate discount of 0.25%. During any period of deferment or forbearance, or upon use of an approved reduced repayment plan, 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. With the Full Deferment Repayment option, you may be eligible to defer principal and interest payments for a period of up to twenty-four (24) months, and further additional deferment from payment of principal but not interest for a subsequent period of up to twenty-four (24) months, depending on length of enrollment, as long as the student borrower is enrolled at an approved school or in a medical internship or residency program. With the Interest Only Repayment option or the Flat Payment Repayment option, you may be eligible to defer payment of principal but not interest for a period of up to forty-eight (48) months, depending on length of enrollment, as long as the student borrower is enrolled at an approved school or in a medical internship or residency program. Any accrued interest may be capitalized at the end of this additional deferment period.

11. The grace period is generally six 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.

12. The extended grace period is generally six months. 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 month-for-month for the number of months of extended grace applied to the loan.

13. Available in increments of no more than three (3) months, for an initial maximum period of twelve (12) months.  Following the initial twelve (12) month period, borrowers may be eligible for an additional twelve (12) months of unemployment protection, awarded in three (3)-month increments, by making twelve (12) consecutive on-time principal and interest payments between each three (3)-month increment of unemployment protection.  During any period of unemployment protection, principal and interest payments are deferred and the interest that accrues during the unemployment protection period may be capitalized at the expiration of such period in accordance with the Credit Agreement.  The number of months of unemployment protection utilized counts toward the total number of months of forbearance permitted on the loan. The repayment term will be extended equal to the number of total months of unemployment protection applied to the loan.

14. Medical Forbearance is available to assist borrowers unable to pay their loan due to 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. 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 for Medical Forbearance, a physician must certify that the borrower has an existing and persisting medical condition or the borrower must provide the FMLA approval notice “Designation Notice, form WH-382”.

15. A cosigner may be released from the loan upon request to the Servicer, provided that the student borrower has met 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 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.

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

17. Earn a 0.25% interest rate reduction for making automatic payments from a bank account (“auto pay discount”) by completing the direct debit form provided by the Servicer. 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.

18. The Abe student loan is available to applicants who are U.S. citizens, permanent resident aliens, or Eligible Non-Citizens (DACA recipients). International students can apply for the Abe student loan with an eligible cosigner who is a U.S. citizen or permanent resident alien. The Abe student loan is not available to permanent residents of West Virginia.

19. While the student borrower is enrolled at an approved school and during the grace period after graduating or separating from school, loans with the (a) Full Deferment Repayment option will have principal and interest payments deferred, (b) Flat Payment Repayment option will have principal payments deferred while monthly $25 interest payments are due, and (c) Interest Only Repayment option will have principal payments deferred while monthly interest payments are due.  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 (added to the unpaid principal loan balance) when repayment of principal and interest begins. There are no prepayment penalties.  Making interest only or partial interest payments will not reduce the principal balance of the loan. (See footnote 3 for payment examples)

20. 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.  Following the term extension, the loan will 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.

21. 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.

22. Available in increments of no more than three (3) months, for an initial maximum period of twelve (12) months. Following the initial twelve (12) month period, borrowers may be eligible for an additional twelve (12) months of forbearance, awarded in three (3) month increments, by making twelve (12) consecutive on-time principal and interest payments between each three (3)-month increment of forbearance. 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.

23. The Flat Payment Repayment option ($25 monthly payment) is only available on loans of $5,000 or more. There are no prepayment penalties. See footnote 3 for payment examples.

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