Nursing Student Loan

 

Nursing Student Loans are available to undergraduate students enrolled in the College of Nursing who demonstrate exceptional financial need.  Students will automatically be considered for the Nursing Student Loan if they complete the Free Application for Federal Student Aid (FAFSA) and other required documents. Funds are limited and are awarded on a first-come, first-served basis.

After a student is awarded a Nursing Student Loan, they must complete an electronic Master Promissory Note (MPN) to receive the funds.

Repayment information is available on the University Billing Office Student Loan Information web page.

 

Lender

The University of Iowa

Interest Rate

5%

Interest Free in School

Yes

Loan Fees

None

Annual Maximums

$2,500 prior to last two years of study

$4,000 during last two years of study

Cumulative Maximums

$13,000

Grace Period

9 months

Standard Repayment Period

Up to 10 years (additional repayment options beyond 10 years may be available)

Minimum Payment

$40 per month