What are Federal Nursing Loans?
Students accepted for admission into the PLU School of Nursing and enrolled at least half-time in the nursing program may be considered for a low interest, federally funded Nursing Loan. Federal Nursing Loans have a fixed interest rate of 5% and a repayment grace period of nine months after graduation (or less time for half time enrollment, whichever comes first).
Who is eligible?
The Federal Nursing Loan is awarded based upon financial need. The financial need of a student is determined by the FAFSA application.
How do you apply?
To apply for a Nursing Loan you must first submit a FAFSA form (remember to include PLU's school code 003785). Upon receiving your FAFSA information from the federal government, PLU will compile an award letter. If you are awarded a Nursing Loan then additional paper work will be sent to you.
How much can I borrow?
The amount of this loan is based on financial need. The loan limits per academic year are:
|
Sophomore: Junior: Senior: Graduate: |
$2500 $4000 $4000 $4000 |
Total aggregate loan limits:
| Undergraduate Students: | $15,000 |
| Graduate Students: | $30,000 |
(This includes any Perkins Loans) |
|
