Skip to main content

Federal Nursing Loans

These loans are offered through the U.S. Department of Health and Human Services.

Loan basics

  • Subsidized
    • Yes
  • Interest rates
    • 5 percent fixed
  • Loan fees
    • No
  • Grace period
    • Nine months
  • Cancellation
    • You may be eligible for Public Service Loan Forgiveness if your Federal Nursing Loans are consolidated. Borrowers will need to work with their servicer to determine eligibility. Additional info regarding Public Service Loan Forgiveness may be found at

Loan criteria

To be offered a nursing student loan, you must be a nursing student. You must also do the following:

  • Apply for student financial assistance with the university and meet the required eligibility requirements, 
  • Accept or reject each type of assistance offered,
  • Annually complete a series of loan documents with:
    • Rush: Truth-In-Lending Act for Regulation Z documents with Rush University  student loan servicers, Heartland ESCI

Amounts for this loan program are incredibly limited, and we are not able to offer all students one of these loans. 

Loan interest information

Nursing student loans are subsidized, so the interest accrued is paid by the government as long as you remain enrolled at least half-time, during authorized periods of deferment, and during the nine-month grace period following your graduation/dropping below half-time status.

When interest does start to accrue, it will be at a fixed 5 percent interest rate.

Amount you can borrow

Nursing student loans do have annual and aggregate maximums. Annual maximums vary based on funds availability and your financial aid application materials.

But you may not receive more than $3,300 in a nine-month academic year (loan amounts can be increased proportionally if you will be studying all year). You may borrow up to $17,000 as an aggregate total. Loans at previous institutions do count towards the annual and aggregate maximums. 

Please note: Since nursing student loans are not reported to a central database, if you have taken out a nursing student loan at another school you must provide the Office of Student Financial Aid with a Financial Aid Transcript, completed by the other institution. Rush cannot award you a nursing student loan until this requirement is satisfied. The Financial Aid Transcript form can be downloaded online at:

Repaying your loan

  • Repayment begins after a nine-month grace period following your graduation/dropping below half-time enrollment.
  • During the grace period, you will have no payments due.
  • After the grace period expires, you have a 10-year standard repayment term.
  • These loans also allow for specific deferments, or time periods when the lender will temporarily suspend all collection activity on the loan.
  • If you require a temporary postponement or partial reduction in monthly payment and are not eligible for a deferment, you may request a forbearance.