Federal Nursing Student Loan (NSL) (2024)

A Federal Nursing Student Loan (NSL) could help pay for your nursing education.

The Federal Nursing Student Loan program makes long-term, low-interest student loans available to students pursuing nursing degrees. If you’re awarded a nursing student loan, it won’t accrue any interest while you’re enrolled at least half time and during deferment and grace periods.

As an IU School of Nursing student, you may be able to get a nursing student loan if you satisfy the following requirements:

• Your FAFSA demonstrates need
• You’re enrolled at least half time
• You meet satisfactory progress standards

The amount you can borrow with a Federal Nursing Student Loan depends on your program costs, your year in school, and the amount of other financial aid you receive.

You’ll begin repaying your loan nine months after you graduate or drop below half-time status. Before you hit that milestone, we’ll set up an exit counseling session to talk about the options you have for repaying your loan.

You can take up to ten years to pay off your loan, although interest will continue to accrue. You can also prepay your loan at any time without penalty.

As long as you submit your FAFSA by the priority date, you’ll automatically be considered for a Federal Nursing Student Loan as part of your financial aid package.

If you’re awarded an NSL, you’ll have to sign a promissory note before we can disburse your funds. We’ll reach out to you through your university email when it’s time to complete this step.