Federal Nursing Student Loans
Loyola University Chicago participates in the Nursing Student Loans program through the Department of Health and Human Services, which offers long-term, low-interest loans for eligible students with financial need as demonstrated by filing a FAFSA.
Nursing student loans are available to full-time students demonstrating financial need who have been admitted to the Marcella Niehoff School of Nursing. The current interest rate is fixed at 5% with no origination (i.e. processing) fee. Qualified students may borrow up to $2,000 annually. For the 2022-2023 academic year, Loyola awards this loan to students with an Expected Family Contribution (EFC) on the FAFSA at or below 6,000. Because of funding limitations, awards may be limited or subject to availability of funds.
A student must complete a Master Promissory Note (MPN) before funds can disburse.
For complete information, contact the Financial Aid Office.