Nursing student loans are available to undergraduate and graduate nursing students enrolled at least half time. The interest rate for this loan is fixed at 5 percent. Loan amounts are limited by annual and aggregate limits. The annual limit is $3,300. If the student is in their last years of the program, the annual limit is $5,200. Borrowers cannot exceed $17,000 total.
You are eligible to apply for this loan if you meet the following conditions:
- a citizen, national or lawful permanent resident of the United States or the District of Columbia, the Commonwealths of Puerto Rico or the Marianas Islands, the Virgin Islands, Guam, the American Samoa, the Trust Territory of the Pacific Islands, the Republic of Palau, the Republic of the Marshall Islands and the Federated State of Micronesia
- able to demonstrate financial need and provide financial information about your parents.
How Do I Apply?
Students may apply using the Nursing Student Loan Application. The availability of this loan is based on funding levels. If you are approved, you must submit entrance counseling and a promissory note. See the instructions on the Bursar's Office website.
When your enrollment drops below half-time status, your grace period of nine months starts. After your grace period, repayment begins and interest accrues. Once you graduate, withdraw or drop below half-time enrollment, you are required to complete exit counseling. Exit counseling explains your rights and responsibilities and repayment terms of your loan.