Federal Nursing Student Loan

Eligibility

Undergraduate nursing students who are enrolled at least half-time and demonstrate exceptional financial need may be eligible for the Nursing Student Loan. Funds in this revolving loan program are derived from loan payments by former students who received this loan. Funding is limited, and eligibility is determined from information on the Free Application for Federal Student Aid (FAFSA) and by institutional policies.

Best Features

No interest accrual while enrolled at least half-time
Nine month grace period and ten year repayment period
Eligible first- and second-year nursing students may be awarded up to $3,000 annually
Eligible third- and fourth-year nursing students may be awarded up to $5,200 annually
Cumulative borrowing may not exceed $13,000

In-School Rate Formula	Fees	In-School Rate
0%	0%	0%
Repayment Rate Formula	Fees	Repayment Rate
Simple interest at a fixed rate of 5% begins at end of the grace period	0%	5%

Entrance and Exit Counseling

Recipients of the Nursing Student Loan are required to complete entrance counseling before the funds are disbursed. Students must also complete exit counseling upon dropping below half time status, taking a leave of absence, withdrawing or graduating.

Master Promissory Note and Truth in Lending (TILA) Documents

Recipients of the Nursing Student Loan are required to complete both the Master Promissory Note and Truth in Lending (TILA) documents online.

For more information, please contact our office.

Office of Student Financial ServicesG-19 Healy Hall, Box 57125237th and O Streets, N.W., Washington D.C. 20057Phone: (202) 687.4547Fax: (202) 687.6542

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