Federal Nursing Student Loan

This loan program is managed by individual campuses and has limited funds, which are distributed on a first-come, first-served basis. To be eligible to submit for the Federal Nursing Student Loan, students must be enrolled in at least 6 credits, show financial need, and maintain satisfactory academic progress.

About the Nursing Student Loan

• Awarded to undergraduate students
• Award amounts are based on availability of funds and are awarded on a first come, first served basis.
• Maximum annual award amount varies. (See table below)
• Interest rate: 5.0% beginning at the start of repayment.
• 9-month grace period, after graduation or once enrollment drops below half-time.
• Borrowers are not required to make payments while enrolled at least half-time, or during their grace period.
• No loan fees.
• Verification required, if selected.

Application Process

• Complete a Free Application for Federal Student Aid (FAFSA) at studentaid.gov.
• Must demonstrate financial need.
• Complete Promissory Note, Entrance Counseling, and Loan Disclosure requirements sent from Adelphi University’s One-Stop Student Services Center.

Loan Repayment

• Recipients are required to complete Exit counseling upon graduation or when enrollment drops to less than half-time.
• Repayment begins after a 9-month grace period with minimum monthly payments of $40, and maximum repayment period of 10 years.
• Payment is made to ECSI.
• Can be consolidated with other federal loans.
• No penalty for early repayment.