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 offered on a first-come, first-served basis.

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

Nursing Student Loans begin using their grace period and will enter repayment when a student graduates, drops below half-time, or is no longer enrolled in a nursing degree program (even if still enrolled full-time).

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