Federal Nursing Student Loan
The Federal Nursing Student Loan (NSL) offers low-interest, fixed-rate loans to students who qualify based on financial need.
This loan program is managed by individual campuses and has limited funds, which are distributed on a first-come, first-served basis. To be eligible, students must be enrolled in at least 6 credits, show financial need, and maintain satisfactory academic progress.
About the Nursing Student Loan
- Awarded to undergraduate students
- Award amounts are based on availability of funds and are awarded on a first come, first served basis.
- Maximum annual award amount varies. (See table below)
- Interest rate: 5.0% beginning at the start of repayment.
- 9-month grace period, after graduation or once enrollment drops below half-time.
- Borrowers are not required to make payments while enrolled at least half-time, or during their grace period.
- No loan fees.
- Verification required, if selected.
Aid Year | Award Maximum |
---|---|
2023-2024 | $4,816 – $7,576 |
2024-2025 | $5,693 – $8,955 |
2025-2026 | $5,936 – $9,338 |
Application Process
- Complete a Free Application for Federal Student Aid (FAFSA) at studentaid.gov.
- Must demonstrate financial need.
- Complete Promissory Note, Entrance Counseling, and Loan Disclosure requirements sent from Adelphi University’s One-Stop Student Services Center.
Loan Repayment
- Recipients are required to complete Exit counseling upon graduation or when enrollment drops to less than half-time.
- Repayment begins after a 6-month grace period with minimum monthly payments of $40, and maximum repayment period of 10 years.
- Payment is made to ECSI.
- Can be consolidated with other federal loans.
- No penalty for early repayment.
Location
Levermore Hall, 008 LL
Hours
Fall Semester Hours
In-Person Payments
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