What is a Nursing Loan
Nursing loans are issued by the federal government to undergraduate students enrolled in Capital's School of Nursing based on financial need and the availability of funds. Nursing loans must be repaid. The interest rate for nursing loans will never exceed 5%.
How do You Get a Nursing Loan
Apply for a PIN online with the U.S. Department of Education (USDE) if you have not already done so.
Complete the Free Application for Federal Student Aid (FAFSA) online.
Complete a nursing entrance counseling form, available from Capital's Financial Aid Office.
Sign a promissory note, which will be available at the Financial Aid Office.
After you complete the FAFSA, you will receive a financial aid award letter in the mail. It will indicate the maximum loan amount available to you for the coming academic year. If you plan to use a nursing loan, be sure to apply for the amount you will need for the entire academic year.
Application Process
A Free Application for Federal Student Aid (FAFSA) or Renewal FAFSA must be completed each year.
If awarded a Nursing Student Loan, the student's Capital University award letter will reflect their eligibility for the loan program.
A Nursing Student Loan promissory note must be completed by the student. Until the promissory note is completed, the funds cannot be applied to the student's account with the Finance Office.
Repayment of Nursing Student Loans
Repayment of Nursing Student Loan begins nine (9) months after the students graduates, leaves school or leaves the nursing program at Capital University.
Nursing Student Loan borrowers will be required to complete a Nursing Student Loan exit interview. This exit interview will provide more information about their repayment options, deferments, etc.
For estimated Nursing Student Loan repayment information, visit the FinAid! student loan calculator Web site.