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The Federal Nursing Student Loan is a federal campus-based loan for undergraduate and graduate nursing students admitted to the College of Nursing and Health. Student applicants must meet eligibility requirements to receive federal student aid and meet satisfactory academic progress requirements. The Federal Nursing Student Loan is a form of aid that must be repaid by the student borrower. Students must have financial need.
Federal Nursing Student Loan Overview |
| How to Apply |
- Student must complete the Free Application for Federal Student Aid (FAFSA) by WSU's FAFSA priority deadline date of February 15 (prior to the start of the academic year).
- Once the student receives an Award Notice, the student must accept the Federal Nursing Student Loan via WINGS Express in accordance with the instructions provided on the online Award Notice.
- After accepting the Federal Nursing Student Loan, the student must complete the additional requirements for a campus-based loan as detailed on our Loan Processing page.
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| Interest Rate |
5% fixed |
| Additional Loan Fees |
None |
| Credit Requirements |
None |
| Annual Loan Maximums |
- Undergraduates: $2,500
- Undergraduates in their last 2 years of study: $4,000 (for 3 quarters)
- Graduates: $4,000 (for 3 quarters)
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| Aggregate Loan Maximum |
$13,000 |
| Enrollment Requirement |
Student must be enrolled at least half-time (at least 6 undergraduate credit hours for undergraduates and at least 4 graduate credit hours for graduate, Boonshoft School of Medicine and School of Professional Psychology students). |
| Disbursement |
For a given term, loan funds are disbursed no sooner than 10 days prior to the student's first attend date. Funds are applied directly to the student's account. If the student's account is paid in full and any Federal Nursing Student Loan funds remain, the Office of the Bursar will issue the remaining loan funds to the student in the form of a refund. |
| Grace Period |
9 months |
| Minimum Monthly Payment |
$15 |
| Maximum Repayment Period |
10 years |
| Deferment/Forbearance |
A Federal Nursing Student Loan borrower may receive a deferment while he or she is enrolled on at least a half-time basis. Deferment/forbearance may be available under other circumstances. Contact the Office of Student Loan Collections by calling (937) 775-5666 for more information. |
| Federal Loan Consolidation |
Available under certain circumstances.* |
| *Contact Great Lakes Educational Loan Services or your loan servicer for more information. |
Federal Nursing Student Loan Repayment Options
The Nursing Education Loan Repayment Program (NELRP) repays registered nurses' educational loans in exchange for service in critical shortage facilities located in areas experiencing a shortage of nurses. The Health Resources and Services Administration (HRSA) accepts applications annually. For complete eligibility and application information, visit HRSA's website at http://bhpr.hrsa.gov/
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The National Health Service Corps (NHSC) offers loan repayment for primary care nurse practitioners and certified nurse midwives who have qualifying educational loans and serve in a community of greatest need. For complete information visit http://nhsc.bhpr.hrsa.gov/
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