Federal Nursing Loan

How do I apply for this loan and am I eligible?

We ask that you first read all of the following information about the Federal Nursing Loan. NOTE: Only those students who demonstrate an exceptional level of federal eligibility are eligible to receive this loan. Funding is limited and all students who are eligible may not receive the loan. View the Graduate/Professional instructions should you have questions regarding the application process for financial assistance. If you are awarded this loan, you will need to complete a promissory note. You will be emailed an alert when you can complete the promissory note at www.ecsi.net/prom50. You will need your FSA ID to log in.

How much can I borrow?

You can borrow up to $3,000 for each year of graduate/professional study. The actual amount you may receive depends on your level of exceptional federal eligibility and the level/availability of the Federal Nursing Loan funds.

What is the interest rate and what fees are charged for this loan?

The interest rate is fixed at 5% for this loan. There are no other fees for this loan, and interest on the loan does not begin to accrue until the loan enters repayment.

When do I begin repaying the loan?

Repayment begins nine months (called the grace period) after you drop below half-time enrollment status (normally, this occurs when you graduate or if you leave school for some other reason). You will receive information from Vanderbilt University Office of Student Loans regarding your repayment schedule.