A Federal Nursing Student Loan is a fixed five percent interest loan for students who are enrolled at least half-time in the Bachelor’s in Nursing program who demonstrate exceptional financial need. Freshmen and sophomores may borrow up to $2,500 each academic year, while juniors and seniors may borrow up to $4,000. Students may borrow a maximum of $13,000 during their academic career. These funds are borrowed from a grant from the U.S. Department of Health and Human Services.
When do students pay back Nursing Student Loans?
If a student is attending school at least half-time, they have
nine months after they graduate, leave school or drop below half-time status
before they must begin repayment (Students may have longer than nine months
if they are on active duty in the military). At the end of the grace period,
students must begin repaying their loans. Students may be allowed up to 10 years
to repay.