Nursing Student Loans

You apply for a Nursing Student Loan by filing the Free Application for Federal Student Aid (FAFSA) for each aid year. The IU Kokomo school code is 001814. To maximize your consideration for all types of financial aid, you need to file the FAFSA each year by the April 15 Priority Application Receipt deadline.

The Nursing Student Loan Program was established by the U.S. Department of Health and Human Services for nursing students.

Self Certification for loan application

Details

• Interest rates:
  • The Nursing Student Loan interest rate is 5% (loans made on or after November 4, 1998) and is subsidized with the U.S. Department of Education paying the interest while the student is enrolled at least half-time.
• Eligibility:
  • A student must be enrolled at least half-time in the Bachelor of Science degree in Nursing with an overall IU grade point average of 2.00 with remaining financial need.
  • Since funding is limited for this program, awards are made based on eligibility and early receipt of the student's FAFSA and completion of any subsequent steps to allow processing of awards for the aid year.
• Award Amount Range:
  • Nursing Student Loan amounts range from $200 to $1,000.
• Loan Repayment:
  • Loan repayment begins after graduation or if your Fall or Spring enrollment drops below half-time.
  • IU Student Loan Administration contacts Nursing Student Loan recipients to complete online exit counseling.