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Federal Nursing Student Loans
Funding of this program comes from the federal government and from former SPU students who are in the process of repaying their Nursing Student Loans.
- Funds are awarded to students admitted to the School of Health Sciences and pursuing a Baccalaureate Degree in Nursing.
- A Nursing Loan requires documented financial need as determined from a processed FAFSA. No interest is charged on the loan while you are enrolled at least half time and are pursuing a nursing degree.
- Nine months after you have left school or dropped below half-time status or are no longer a nursing major, interest will begin accruing and you will begin making payments of principal and interest.
- For loan limits, repayment, and interest information refer to the Employment-Loan Chart (PDF).
Requirements for the Nursing Loan:
- Master Promissory Note (MPN)
- Loan Interview Sheet (annually)
- Loan counseling session
- Truth-in-lending/Rights and Responsibilities statement (annually)
- Application, Solicitation and Final Disclosure forms (informational only)
- Approval Disclosure and Self-Certification forms (at least annually)
- Loan exit interview (prior to your departure from SPU or when your enrollment drops less than half-time status)
Notification about the documents and requirements will be sent to your SPU email account.
The first year a Nursing Loan is awarded, an MPN, truth in lending statement, and loan interview sheet must be completed before the nursing loan can be credited to your account. Additionally, each year a Nursing Loan is awarded, the Loan Interview Sheet, Approval Disclosure and Self-Certification form and the Truth-in-Lending/Rights and Responsibilities must be completed. Each quarter thereafter, awarded nursing funds will be automatically credited to your student account, provided you are enrolled for the number of credits upon which your financial aid was based and you continue to pursue a baccalaureate degree in nursing.
More information can be found in the Student Financial Services office and here.
Last Updated: 2/5/2015