Federal Nursing Loans
Students accepted for admission or enrolled at least half-time in the Decker School of Nursing may be considered for a low interest, federally funded, Nursing Loan. Application for this type of financial aid is done by filling out and submitting the Free Application for Federal Student Aid (FAFSA), and basic eligibility requirements must be met, as determined by the federal government. The amount of this loan is based on financial need.
The loan limits per academic year are:
| Freshman: | $2500 |
| Sophmore: | $2500 |
| Junior: | $4000 |
| Senior: | $4000 |
| Graduate: | $4000 |
Total aggregate loan limits:
| Undergraduate Students: | $15,000 |
| Graduate Students: | $30,000 (This includes any Perkins Loans) |
There is a fixed interest rate of 5%.
Repayment begins nine months after the student leaves school. The repayment period may vary up to ten years depending on the amount borrowed.
You now have the ability to check amounts borrowed to date and repayment status. You will need your PIN to do so. The PIN servers as your identifier to let you access your personal information in various US Department of Education Systems. It's like the Personal Identification Number you get form your bank that enables you to access you account. Because your PIN serves as your electronic signature, you should not give it to anyone.
Once you successfully complete a request, the US Department of Education will mail your PIN to you via the US Postal Service. It will take approximately 7-10 days after you request your PIN for you to receive it in the mail.
When you use your PIN, you must type the PIN exactly as it appears on the letter that is sent to you.
