Federal Nursing Loan
Who is Eligible
- Enrolled full-time in an undergraduate degree nursing program
- S. Citizen or eligible non-citizen
- Nursing student must have financial need
- Maintain Satisfactory Academic Progress
- Nursing students must meet all federal criteria to be eligible for the loan
Application and Selection Process
- File the FAFSA each academic year
- Financial Aid Office will evaluate the eligible recipients to ensure the student has unmet need (Cost of Attendance less Expected Family Contribution (FAFSA results) = Federal Need.
- Financial Aid Office selects loan recipients, determines loan amount based on available funding and award it on your Financial Aid Notification Offer.
- Nursing students in their freshman/sophomore years are eligible up to $3,300 maximum annual amount.
- Nursing students in their junior/senior years are eligible up to $5,200 maximum annual amount.
- The aggregate maximum NSL that any nursing student may obtain is $17,000.
Interest Rates/Terms and Conditions
- Fixed 5% interest rate
- Zero origination fees
- No interest accrues while enrolled at least half-time
- Serviced by Heartland ECSI
- 9-month grace period after graduation or student ceases to be enrolled at least half-time
- Repayment begins after grace period
- Must complete exit counseling
Students will be notified by the Financial Aid Office if you are awarded the Federal Nursing Loan. Upon acceptance of the Federal Nursing Loan and prior to funds being disbursed all required documents will be completed with the Student Accounts Manager.