Nursing Student Loans are low-interest federal loans offered to eligible nursing students (undergraduate third and fourth year and eligible graduate students) who have filed a FAFSA. Students must be enrolled for at least 6 credit hours and demonstrate financial need to be eligible. Financial need is calculated by subtracting the EFC + all other Need-Based Financial Aid from the Cost of Attendance. Eligibility for Health Professions Loans is reviewed as FAFSAs are received and funding is limited, so we encourage students to submit the FAFSA as early as possible.
Nursing loans are subsidized loans that do not accrue interest as long as you remain registered for at least six (6) hours each semester. Interest begins to accrue at the rate of five (5) percent annually nine (9) months after you graduate or drop below the six-hour registration requirement. Repayment of the principal, together with accrued interest, will be required within a 10-year period, excluding any eligible periods of deferment.
Required paperwork for these loans must be completed each semester. The Office of Financial Aid will contact students to complete this paperwork.
Information is subject to change without notice due to changes in federal, state and/or institutional rules and regulations. Students must complete a FAFSA every year. Students must be making satisfactory academic progress to continue to receive financial aid.