Grants and Loans

Grants and Loans from U.S. Federal Government

Scholarships for Health Professions Students from Disadvantaged Backgrounds

Scholarships for Disadvantaged Students SDS

Agency: Department of Health and Human Services
Office: Health Resources and Services Administration

Project Grants FY 13 $42,006,888; FY 14 $42,023,740; and FY 15 est $45,346,000

Promotes service in primary care and in medically underserved communities and diversity among health professions students and practitioners by providing grants to eligible health professions and nursing schools for use in awarding scholarships. Eligible health professions and nursing schools apply for funds to provide scholarships to students from disadvantaged and underrepresented racial and ethnic backgrounds who have financial need for scholarships and are enrolled, or accepted for enrollment, as full-time students at the schools. Schools provide student scholarships and disadvantaged student recruitment and retention programs that encourage completion of school and service in primary care and in medically underserved communities. The purpose is to provide entrance into a career as a health professional to help diversify the health workforce and encourage service in primary care and in medically underserved communities.

SDS funds awarded to schools must be used to award full or partial scholarships to eligible students enrolled in health professions programs on a full-time basis. Scholarships may only be expended for tuition expenses, other reasonable educational expenses, and reasonable living expenses incurred while in attendance for the year. Student scholarships must be at least 50% of the students annual tuition cost for tuition $30,000 or less, but the SDS award must be $15,000 for students whose tuitions are over $30,000 per year. No student can be awarded over $15,000 in SDS funds per year. The Secretary is required to make available at least 16 percent of the funds to schools that will provide scholarships only for nursing students. Schools are required to agree that, in providing scholarships under this program, preference shall be given to students from disadvantaged backgrounds for whom the costs of attending the school would constitute a severe financial hardship. The Secretary may not make a grant to a school unless the school is carrying out a program for recruiting and retaining students from disadvantaged backgrounds and have met the eligibility criteria of demonstrating the success of outcome measures.

Beneficiary Eligibility

Students who are citizens, nationals, or lawful permanent residents of the United States or the District of Columbia, the Commonwealths of Puerto Rico or the Mariana Islands, the Virgin Islands, Guam, the American Samoa, the Trust Territory of the Pacific Islands, the Republic of Palau, the Republic of the Marshall Islands, the Federated States of Micronesia; and enrolled full-time in health professions or nursing schools.

***

NURSE Corps Scholarship Program

FY 13 $22,687,670; FY 14 $23,995,800; and FY 15 est $23,995,600
Range of new awards for FY 13: $13,209 – $290,464; Average: $$93,117.

Agency: Department of Health and Human Services
Office: Health Resources and Services Administration NURSE Corps Scholarship Program, Division of Nursing and Public Health, Bureau of Clinician Recruitment and Service (BCRS), Health Resources and Services Administration, Department of Health and Human Services, Room 8A-55, 5600 Fishers Lane, Rockville, MD 20857. Telephone: (301) 594-4400.

To increase the supply of registered nurses (RN) and nurse practitioners (NPs) in approved health care facilities with a critical shortage of nurses by providing service-obligated scholarships to nursing students. Service-obligated scholarships are awarded to full-time and part-time students of nursing. Scholarships pay tuition and required fees to the school, a monthly stipend to students and a single annual payment to the student to assist with other reasonable educational expenses that include books, supplies, instruments, and uniforms. The program requires 1 year of service for each year of scholarship support, with a minimum 2-year service commitment post graduation. A maximum of four years of educational support may be awarded. Service obligation must be fulfilled at a health care facility with a critical shortage of nurses.

 Beneficiary Eligibility

The applicant must be a U.S. citizen or national, enrolled or accepted for enrollment in a fully accredited academic institution with a graduate, baccalaureate, associate degree or diploma nursing program located in a State, the District of Columbia, or a U.S. Territory. The applicant must be free of any Federal judgment liens, not have breached a prior service obligation, is not excluded, debarred, suspended, or disqualified by a Federal agency, and have no conflicting service obligations. Financial need is also reviewed as part of the eligibility determination. The applicant must submit an application and a signed contract, agreeing to accept payment of scholarship funds and provide health care services in a health care facility with a critical shortage of nurses for a minimum of two years.

How to Apply

Contact the headquarters or regional office, as appropriate, for application deadlines.

***

Harry S Truman Scholarship Program

Grants for Education ( Scholarships ) 55-60 scholarships $30,000 awarded annually to 55-65 college students
federal trust fund held in the U.S. Department of the Treasury, is $55 million.

Agency: Harry S Truman Scholarship Foundation

To honor former President Harry S Truman through the operation of an education scholarship program, financed by a permanent trust fund endowment, to develop increased opportunities for young Americans to prepare for and pursue careers in public service. Undergraduate junior level students at four year colleges and universities who are properly nominated by accredited colleges or universities recognized by the Department of Education. Enrolled, matriculated in a degree program at an accredited U.S. college; Pursuing a bachelor’s degree as a full-time student during the forthcoming academic year; ranked in the upper quarter of her or his class; U.S. citizen or national; selected field of study that will permit admission to a graduate or professional program allowing better preparation for a career in public service.

Each year between 55-65 applicants for Harry S Truman Scholarship are selected and awarded $15,000 for the first year of graduate study, and $15,000 for their final year of graduate study. The Truman Scholarship covers your actual expenses for tuition and required fees, your average expenses for room and board, and up to $1000 per year for books.  The Harry S Truman Scholarship Program cannot duplicate funding from other sources (i.e. school scholarships, grants and fellowships).  The Harry S Truman Scholarship Program bylaws dictate that we cannot pay for laptop computers, travel, airfare, or office supplies. The Foundation issues each Scholar a maximum of three payments per year.
The Foundation is authorized to grant funds to meet a Scholar’s educational expenses as determined by our federal formula, up to but not exceeding his/her allotment of funds for the academic year.  The Foundation will pay as much of the eligible expenses at the time the first term’s request is processed, rather than dividing the year’s funds into equal term allotments.  You may receive all of a year’s funding in a single term if your eligible expenses for the term are equal to or exceed your annual allotment.  The Foundation will pro-rate your funds ONLY if you submit a request in writing.

Beneficiary Eligibility

The scholarship is awarded to approximately 50-75 U.S. college juniors each year on the basis of four criteria:[8] service on campus and in the community, commitment to a career in public service (government, uniformed services, research, education, or public interest/advocacy organizations), communication ability and aptitude to be a “change agent,” and academic talent that would assure acceptance to a first-rate graduate school. More broadly, Truman Scholars possess intellect, leadership skills, and passion that would make them a likely force for the public good in any field.

 How to Apply

Students must be nominated by their institution in a process conducted by the Truman Scholarship Faculty Representative.  The process may vary from institution to institution.  Some schools conduct a truncated version of our application process while others are more informal. Applications are due, by 11:59 pm in your time zone, on the first Tuesday in February.  Your  are free to set an earlier deadline.

***

Federal Pell Grant Program

Agency: Department of Education
Office: Office of Student Financial Assistance Programs, Federal Student Aid Information Center Federal Student Aid (FSA), Department of Education, 400 Maryland Avenue, S.W., Washington, District of Columbia 20202 Phone: (800) 433-3243

Grants Appropriated for Direct Payments:FY 13 $32,351,695,000; FY 14 est $32,958,445,000; and FY 15 est $33,876,730,000
Range and Average of the Financial Assistance:
For FY 2013, grants ranged from $565-$5,645; the average grant was estimated at $3,651.
For FY 2014, grants will range from $573-$5,730; the average grant is estimated at $3,784.
For FY 2015, grants will range from $583-$5,830; the average grant is estimated at $3,826.

To provide eligible undergraduate postsecondary students who have demonstrated financial need with grant assistance to help meet educational expenses. The student must be a U.S. citizen or eligible noncitizen who has been accepted for enrollment in, and is making satisfactory academic progress at an eligible institution of higher education. Eligible schools may be public or private nonprofit institutions of higher education, (such as colleges, universities, vocational-technical schools, hospital schools of nursing), and for- profit institutions (proprietary). Eligible males who are at least 18 years or older and born after December 31, 1959, can receive aid only if they have registered with the Selective Service. Graduate students and students who have already earned a bachelor’s degree are not eligible for assistance, except those enrolled in an eligible program leading to a professional certification in teaching. Applicants must demonstrate need according to Part F of the Higher Education Act of 1965, as amended.

Beneficiary Eligibility

Undergraduate students and students pursuing a teaching certificate that are U.S. citizens or eligible noncitizens and meet financial need criteria. Students must be: regular students in an eligible program and enrolled in institutions of higher education, making satisfactory academic progress. Incarcerated students, except those incarcerated in local penal facilities, are ineligible. Students must sign a statement of educational purpose, not owe a refund on a Title IV grant, and not be in default on a Title IV loan. Eligible males that are at least 18 years old and born after December 31, 1959, can receive aid only if they have registered with the Selective Service. Undergraduate students and students pursuing a teaching certificate enrolled as regular students in an eligible program at an eligible institution of higher education and making satisfactory academic progress. The applicants must be U.S. citizens or eligible noncitizens and have a high school diploma, a GED, or demonstrate the ability to benefit from the program offered. Institutions act as disbursing agents for the Department of Education. The institution that the student attends calculates and disburses the Federal Pell Grant, using a payment schedule developed by the Department of Education that determines the amount of the award based on the student’s expected family contribution, cost of attendance, and enrollment status.

Federal Pell Grant eligibility determinations are based on Part F of the HEA, as amended. This national need analysis formula determines financial eligibility for Federal Pell grants and other Federal student aid and is applied uniformly to all applicants. This formula determines a student’s “expected family contribution” (EFC). The fundamental elements of this need analysis formula are the parents’ and/or the student’s income and assets (excluding home), the family’s household size, and the number of family members attending postsecondary institutions. The EFC is determined as the sum of: (1) A percentage assessment of net income (remaining income after subtracting allowances for basic living expenses) and (2) a percentage assessment of net assets other than a home (remaining assets after subtracting an asset protection allowance).

Students are able to receive one Federal Pell Grant during any award year (July 1 through June 30). Funds for the Federal Pell Grant are usually disbursed at least twice during an award year. Students may only receive a Federal Pell Grant until they have received a bachelor’s degree.

How to Apply

See Regional Agency Offices. Federal Student Aid Information Center. Telephone: 1-800-433-3243. Regional Director, Federal Student Aid, the Director of Student Financial Aid at the institution the student wishes to attend, high school guidance counselors, or directors of State agencies.

Headquarters Office:

Federal Student Aid Information Center Federal Student Aid (FSA), Department of Education, 400 Maryland Avenue, S.W., Washington, District of Columbia 20202 Phone: (800) 433-3243

***

Federal Work-Study Program

Agency: Department of Education
Office: Office of Student Financial Assistance Programs

Direct Payments for Specified Use: FY 13 $1,100,271,000; FY 14 est $1,158,676,000; and FY 15 est $1,168,676,000
Range and Average of Financial Assistance: The average award in FY 2013 was $1,678.
The average award in FY 2013 and FY 2014 is estimated at $1,668.
Fiscal Year 2013: Approximately 697,000 recipients are expected. Fiscal Year 2014: Approximately 809,000 recipients are expected. Fiscal Year 2015: Approximately 690,000 recipients are expected.

To provide part-time employment to eligible postsecondary students to help meet educational expenses and encourage students receiving program assistance to participate in community service activities. The Federal share of compensation paid to students does not exceed 75 percent for work on campus, or work in a public agency or private nonprofit organization, unless waived by the Secretary. The Federal share of compensation paid to students does not exceed 50 percent for jobs with a private-for-profit organization. No more than 25 percent of an institution’s work-study allocation may be used for private-for-profit organizations. If it provides FWS employment to its students in that year, an institution is entitled to an administrative cost allowance for an award year of 5 percent of the first $2,750,000 of its program expenditures, plus up to 4 percent for expenditures greater than $2,750,000 but less than $5,500,000, plus up to 3 percent of expenditures in excess of $5,500,000. An institution is required to use at least 7 percent of its total FWS allocation to pay the Federal share of wages to students employed in community service jobs unless it receives a waiver.

Beneficiary Eligibility

Undergraduate, graduate, or professional students enrolled or accepted for enrollment as regular students; are maintaining satisfactory academic progress in accordance with the standards and practices of the institution; have financial need; do not owe a refund on a Title IV grant; are not in default on a Title IV loan; file a statement of educational purpose; file a statement of registration compliance (Selective Service); and meet citizen/resident requirements may benefit. Employers of FWS recipients must contribute 25 percent of the funding, (except in the case of private, for-profit organizations, which must match 50 percent) and in the case of established criteria for which the matching requirement is waived.

How to Apply

See Regional Agency Offices. Students should contact the educational institution(s) they attend or plan to attend. Public and private nonprofit organizations should contact grantee educational institutions in their own State or multi-State areas. Educational institutions should contact the Regional Administrator for Student Financial Assistance in the appropriate ED Regional Office (see Appendix IV of the Catalog).
Headquarters Office:Federal Student Aid Information Center, Federal Student Aid (FSA), Department of Education, 400 Maryland Avenue, S.W., Washington, District of Columbia 20202 Phone: (800) 433-3243.

***

Federal Supplemental Educational Opportunity Grants (FSEOG)

Agency: Department of Education
Office: Office of Student Financial Assistance Programs, Federal Student Aid Information Center Federal Student Aid (FSA), Department of Education, 400 Maryland Avenue, S.W., Washington, District of Columbia 20202 Phone: (800) 433-3243

Grants for Direct Payments for Specified Use FY 13 $926,107,000; FY 14 est $975,268,000; and FY 15 est $975,268,000
Range and Average of Financial Assistance: The average award in FY 2013 was $599.
The average award for FY 2014 and FY 2015 is estimated to be $599.

To provide need-based grant aid to eligible undergraduate postsecondary students to help meet educational expenses. Grants are for undergraduate study, and range from $100 to $4,000 per academic year. However, if reasonable study abroad costs exceed the cost of attendance at the home institution, the amount of the grant may exceed the $4,000 maximum by as much as $400. A student is eligible to receive a FSEOG for the period of time needed to complete the first undergraduate baccalaureate course of study being pursued by that student. If it awards grants to students in that year an institution is entitled to an administrative cost allowance for an award year of 5 percent of the first $2,750,000, expended, plus 4 percent of expenditures greater than $2,750,000 but less than $5,500,000, plus 3 percent of expenditures in excess of $5,500,000.

Beneficiary Eligibility

Undergraduate students enrolled or accepted for enrollment as regular students; are maintaining satisfactory academic progress in accordance with the standards and practices of the institution, have financial need, do not owe a refund on a Title IV grant, are not in default on a Title IV loan, file a statement of educational purpose, file a statement of registration compliance (Selective Service) and meet citizen/resident requirements may benefit. Deadlines are specified on the application (usually October 1). Contact the program office for additional information. The Federal Student Aid office determines final awards and notifies participating institutions. Postsecondary institutions determine individual student awards.

How to Apply

Contact your Regional or Local Office:

See Regional Agency Offices. Students should contact the educational institution(s) they attend or plan to attend. Educational institutions should contact the Regional Administrator for Student Financial Assistance in the appropriate ED Regional Office

Office of Student Financial Assistance Programs, Federal Student Aid Information Center Federal Student Aid (FSA), Department of Education, 400 Maryland Avenue, S.W., Washington, District of Columbia 20202 Phone: (800) 433-3243

***

Federal Direct Student Loans

Agency: Department of Education
Office: Office of Student Financial Assistance Programs, Federal Student Aid Information Center Federal Student Aid (FSA), Department of Education, 400 Maryland Avenue, S.W., Washington, District of Columbia 20202 Phone: 800-433-3243

Direct Federal Student Loans: FY 13 $101,255,869,000; FY 14 est $99,647,225,000; and FY 15 est $101,554,636,000 

To provide loan capital directly from the Federal government to vocational, undergraduate, and graduate postsecondary school students and their parents. Repayment on Federal Stafford loans begins six months after the student ceases to carry at least one-half the normal full-time academic workload. Repayment of principal and interest on PLUS loans generally begins within 60 days of disbursement of the last installment; repayment of a Consolidation loan begins within 60 days after the proceeds of the loan have been used to discharge the liability of the borrower on the loans selected for consolidation. Deferments and forbearance of payment may be granted for certain authorized periods.

Applicants may apply for a loan for any year of attendance at a postsecondary institution. The interest rate on new Stafford Loans starting July 1, 2013 is fixed at a rate equal to the 10-year Treasury note plus 2.05 percent (capped at 8.25 percent). As of July 1, 20013, Unsubsidized Stafford loans have a fixed interest rate equal to the 10-year Treasury note plus 3.6 percent (capped at 9.5 percent), and Direct PLUS loans have a fixed interest rate equal to the 10-year Treasury note plus 4.6 percent (capped at 10.5 percent). There are four repayment plans that are available for Direct Loan borrowers: (1) A standard repayment plan with a fixed monthly payment amount over a period of up to 10 years; (2) an extended repayment plan with a fixed monthly payment amount paid over a period of 12 to 30 years, depending on the amount owed; (3) a graduated repayment plan with a monthly payment that will increase generally every 2 years. The repayment period varies from 12 to 30 years, depending on the amount owed; and (4) except for Direct PLUS Loan borrowers, an income contingent repayment (ICR) plan with a monthly payment that is adjusted annually based on the income of the borrower and paid over a extended period of time not to exceed 25 years. Any unpaid balance remaining after 25 years in the ICR plan is forgiven by the Secretary of Education. However, under current IRS rules, the amount written off is considered taxable income to the borrower in the year it is written off. In 2007, a new income-based repayment plan was created for those borrowers meeting a standard of “partial financial hardship” based on their annual repayment amount in relation to their adjusted gross income.

Generally a borrower would not have to repay on a monthly basis more than 15 percent of their discretionary income, and any outstanding balance would be forgiven after 25 years of repayment. For new borrowers on or after July 1, 2014, these limits have been lowered to 10 percent of discretionary income and forgiveness after 20 years. Beginning December 21, 2012, the Pay As You Earn plan, an income-sensitive repayment plan, also became an option for eligible borrowers: those who meet the “partial financial hardship” standard, were a new borrower as of October 1, 2007, and who received a Direct Loan disbursement on or after October 1, 2011. Borrowers in this plan have to repay on a monthly basis no more than 10 percent of their discretionary income, and receive forgiveness on their remaining loan balances after 20 years of repayment. Direct Loan borrowers who work in public service are eligible for forgiveness during a 10-year period while they are repaying their loans. If these borrowers, during repayment, have an outstanding loan balance after 10 years of working in public service, the Federal Government will forgive the remaining balance on behalf of the borrower. Public service may include a variety of public disciplines such as education, health, law, military service and public safety.

Beneficiary Eligibility

Vocational, undergraduate, and graduate postsecondary school students and their parents. The applicant must be a U.S. citizen, national, or person in the United States for other than a temporary purpose. A student borrower must be enrolled or accepted for enrollment in a degree or certificate program on at least a half-time basis as an undergraduate, graduate, or professional student at a participating postsecondary institutions. An otherwise eligible student is eligible for loans during a single twelve-month period in which the student is enrolled in a non-degree/non-certificate course of study that the institution has determined is necessary in order for the student to enroll in a program leading to a degree or certificate. Under the Direct PLUS program, parents may borrow for dependent students. Also, graduate and professional students are eligible to borrow PLUS Loans. Direct Unsubsidized and PLUS loans are non-need based programs. In order to receive a Direct Subsidized loan, all borrowers must undergo a financial need analysis to determine eligibility for Federal interest; as of July 1, 2012, only undergraduate students are eligible to borrow Direct Subsidized loans. A student that is presently enrolled at a participating institution must be maintaining satisfactory academic progress in the course of study that they are pursuing. The borrower may not owe a refund on any Title IV grant or be in default on any Title IV loan received for attendance at any institution. The borrower must also file a Statement of Registration compliance (Selective Service).

How to Apply

You can apply for Direct Loans by filling out the Free Application for Federal Student Aid (FAFSA).
Most students use FAFSA on the Web to complete their applications.
The information on your FAFSA is transmitted to the schools that you list on the application, and those schools use the information to assess your financial need for student aid.

***

Barry M. Goldwater Scholarship Program

Agency: Barry Goldwater Scholarship and Excellence In Education Foundation

Grants: 300 Barry Goldwater Scholarships up to $7,500.00 awarded nationwide each year

To honor former Senator Barry Goldwater through the operation of an education scholarship program, financed by a permanent trust fund endowment, designed to encourage outstanding students to pursue careers in mathematics, the natural sciences, and engineering. Assistance is intended solely for the use of scholars.

Beneficiary Eligibility

Undergraduate sophomore and junior level students, at two and four year colleges and universities accredited by the Department of Education, may be nominated by the institution’s Goldwater Faculty Representative. U.S. citizens or nationals, resident aliens (must provide additional documentation), college sophomores and juniors will benefit. Applicants must be enrolled, matriculated in a degree program at an accredited U.S. college, pursuing a Bachelor’s degree as a full-time student during the forthcoming academic year, maintaining a “B” average, ranked in the upper fourth of his or her class, be a U.S. citizen, national or resident alien (resident aliens must include a letter of the nominee’s intent to become a U.S. citizen and a photocopy of the Alien Registration Card) and have selected a field of study that will permit admission to a graduate or professional program in preparation for a career in mathematics, the natural sciences, or engineering.

How to Apply

Being rewarded a grant from Barry M. Goldwater Scholarship Program is considered one of the most prestigious awards by the US college students. Barry Goldwater Scholarship Universities are allowed to nominate only four undergraduate students per year to receive the final Scholarship. The faculty representative of an institution is the key person in the Goldwater selection process and serves as liaison between the institution and the Barry Goldwater Scholarship and Excellence In Education Foundation.
To apply for Barry M. Goldwater Scholarship Grants find your faculty representative or apply now online.

***

Nurse Faculty Loan Program (NFLP)

Agency: Department of Health and Human Services
Office: Health Resources and Services Administration, 5600 Fishers Lane, Room 9-61, Rockville, Maryland 20857 (301) 443-1399

Grants for establishing NFLP loan funds: FY 13 $22,101,773; FY 14 est $23,241,699; and FY 15 est $22,500,000 

To increase the number of qualified nursing faculty. Schools of Nursing that receive NFLP funding must provide loans to students enrolled in eligible advanced degree nursing programs (master’s or doctoral) with an education component(s) that will prepare the student to teach. NFLP loan recipients complete the education program, and following graduation, may cancel up to 85% of the NFLP loan while serving as full-time nurse faculty at an accredited school of nursing.

The school must establish an NFLP loan fund for the purpose of making NFLP loans to eligible students enrolled in advanced degree nursing programs to become faculty and for the costs associated with collection of these loans. Institutions may award a maximum loan amount of $35,500 per student for an academic year to support the cost of tuition, fees, books, and other reasonable education expenses, not to exceed five years of NFLP loan support. Upon completion of the program, an amount up to 85 percent of the loan may be cancelled by the institution as follows: upon completion of the first, second, and third year of full-time faculty employment in an accredited school of nursing, 20 percent of the principal and interest of the unpaid loan shall be cancelled for each year; upon completion of the fourth year of full-time employment as faculty in an accredited school of nursing, 25 percent of the principal and interest of the unpaid loan shall be cancelled for the fourth year. The school will establish an NFLP fund to be used only for making NFLP loans to eligible students and for the costs associated with collection of these loans.

Beneficiary Eligibility

Eligible nursing students must: (1) be a citizen or national of the United States, or a lawful permanent resident of the United States, the Commonwealth of Puerto Rico, the District of Columbia, the Commonwealth of the Northern Mariana Islands, Guam, American Samoa, the Virgin Islands, the Republic of the Marshall Islands, the Federated States of Micronesia, or the Republic of Palau; (2) be enrolled in an advanced degree program in nursing to become qualified nursing faculty; (3) not be in default on a Federal debt; and (4) maintain good academic standing. Students may receive NFLP loans up to $35,500 per academic year for a maximum of 5 years to support the cost of tuition, fees, books, laboratory expenses and other reasonable education expenses. Following graduation from the nursing program, loan recipients may cancel up to 85 percent of the NFLP loan principal and interest in exchange for service as a full-time nursing faculty at a school of nursing for up to 4 years.

How to Apply

To apply for Nurse Faculty Loan contact the program director of one of the NFLP participating schools.

***

Nursing Student Loans (NSL)

Agency: Department of Health and Human Services
Office: Health Resources and Services Administration, 5600 Fishers Lane, Room 9-105, Rockville, Maryland 20857 Phone: (301) 443-1173
Direct Loans:  FY 13 $3,780,671; FY 14 est $3,138,387; and FY 15 est $3,459,529

To increase educational opportunities by providing long-term, low-interest loans to students in need of financial assistance and in pursuit of a course of study in an approved nursing program. The maximum amount a student may borrow is $3,300 for an academic year for each of the first two years, $5,200 for each of the final two years, or the amount of the student’s financial need, whichever is less. The total of all Nursing Student Loans to any student is limited to $17,000.

Institutions participating are responsible for:

  • determining student eligibility
  • verifying student data (when required)
  • calculating, as required, the amount of financial aid a student can receive
  • completing and/or certifying parts of various loan applications and/or promissory notes
  • drawing funds from the Federal Government and disbursing or delivering SFA funds to students directly or by crediting students’ accounts
  • making borrowers aware of loan repayment responsibilities
  • submitting, as requested, data on borrowers listed on National Student Loan Data System (NSLDS) roster
  • returning funds to students, lenders and programs, as appropriate, if students withdraw, drop out or are expelled from their course of study
  • collecting SFA overpayments
  • establishing, maintaining and managing (including collecting loan repayments) a revolving loan fund for applicable programs
  • reporting the use of funds. Institutions may contract with third-party servicers to perform many of these functions.

Beneficiary Eligibility

Loans will be made to full and half-time nursing students who are citizens, nationals, lawful permanent residents of the United States, the District of Columbia, the Commonwealths of Puerto Rico, the Mariana Islands, the Virgin Islands, Guam, the American Samoa, the Trust Territory of the Pacific Islands, the Republic of Palau, the Republic of the Marshall Islands, and the Federated States of Micronesia. Funds are made to schools of nursing to capitalize loan.

How to Apply

See Regional Agency Offices: Christopher Grosso, Division of Student Loans and Scholarships, Bureau of Health Professions, Health Resources and Services Administration, Department of Health and Human Services, Parklawn Building, Room 9-105, 5600 Fishers Lane, Rockville, MD 20857. Telephone: (301) 443-1173.