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?
- Create an FSA ID 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.
- Those eligible for a Nursing Loan based on their academic program and financial need will receive a financial aid award letter containing the amount students are eligible to borrow.
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.
- 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. An e-mail will be sent to the students' Capital e-mail address when the promissory note is available for electronic signing. The loan funds cannot be applied to the student's tuition account until this step has been completed.
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 website.