Low Cost Student Loans for Nurses and Nurse Specialists

Financial assistance above and beyond that provided for other types of college students is designed as cash leverage in an industry that direly needs new blood. Healthcare cannot afford any possible human resource loss due to the financial straits of its most talented pool of students.

Fact is when the healthcare system is going down without enough nurses, money will always be made an incentive.

The various types of student loans include:

  • Federal student loans such as Stafford Loans, Perkins Loans, PLUS Loans
  • State funded student loans
  • Nursing loans

How Nursing Loans Work

Primary sources for student loans designed specifically for nursing students are government sources and schools of nursing themselves.

Nursing student loans are intended to attract more students to the field, including those with financial need. The lure is a combination of low interest rates, affordable repayment options, and other possible perks.

Besides straightforward nursing loans you can also find loan programs that dovetail with loan forgiveness programs, as well. To qualify for the loan forgiveness part of the deal expect to be obligated to agree via contract to working for a specified period of time in a medically underserved healthcare facility, which could put you in the middle of an urban environment or out in a rural clinic.

  • The Nursing Student Loan program sponsored by the U.S. Department of Health and Human Services is available through various schools of nursing. Ask your financial aid officers for information or similar programs. Where available your financial aid department calculates the amount of aid for which you are eligible and sets up the terms of your loan.

Special Nursing Loans

Are you a Nurse Practitioner, Nurse Midwife, Nurse Faculty or Educator? You could qualify for student loans or loan forgiveness uniquely created for your specialty. Why? These are a few of the very in-demand advanced practice nurses and money helps.

  • The Rhode Island Student Loan Authority (RISLA) offers Nurse Educator students low cost Stafford Loans in return for a teaching contract with a nursing school in Rhode Island. This financial “stimulus” is effective at luring more nurse educators to the state to offset the shortage of nurse faculty, which in turn contributes to the growing nursing shortage.

Explore Your Nursing Degree Options Today!