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). 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.
Billing and payment information is available on the University Billing and Loan Collections Office Student Loan Information web page.
Lender: The University of Iowa
Interest Rate: 5%
Interest Free in School: Yes
Loan Fee: 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: Up to 10 years (additional repayment options beyond 10 years may be available)
Minimum Payment: $40 per month