Nursing Loans

What It Is

A Federal Direct Subsidized Loan is a federal loan for undergraduate students with financial need, based on your FAFSA. The federal government pays the interest while you are enrolled at least half-time, for the first six months after you leave school, and during approved deferment periods. At CU Anschutz, undergraduate nursing students are the students eligible for this loan.

Who Can Apply

• Be enrolled at least half-time in an eligible undergraduate program
• Show financial need, based on your FAFSA
• Be a U.S. citizen or eligible non-citizen with a valid Social Security number
• Not be in default on any federal student loan or owe a refund on a federal grant
• Meet CU Anschutz Satisfactory Academic Progress (SAP) standards if you are a continuing student

How Much You Can Borrow

Annual and lifetime limits are set by federal law and depend on your grade level and dependency status.

Independent undergraduate students may borrow more in unsubsidized loans. Your total aid cannot exceed your cost of attendance, and your eligibility may be reduced by other aid you receive.

Repayment

• Repayment is deferred while you are enrolled at least half-time
• You have a 6-month grace period before repayment begins
• You may prepay in full or pay more than your monthly amount at any time with no penalty
• Your loan is handled by a federal loan servicer, who manages billing, repayment plans, and consolidation

What It Is

The Federal Nursing Loan is a long-term, low-interest loan for students in a diploma, associate, baccalaureate, or graduate nursing program. The university selects recipients based on your FAFSA. Because funding is limited, not every eligible student receives one, and an award does not repeat automatically each year.

Rate & Repayment

• Interest begins after the 9-month grace period, which starts once you are no longer enrolled at least half-time
• Deferred while you are enrolled at least half-time
• You may prepay at any time with no penalty

Who Can Apply

• Be enrolled at least half-time in a baccalaureate or graduate nursing program
• Meet federal student aid eligibility requirements and show financial need
• Be a U.S. citizen, national, or lawful permanent resident
• Not be in default on any federal student loan or owe a refund on a federal grant
• Meet CU Anschutz Satisfactory Academic Progress (SAP) standards if you are a continuing student

How Much & Cancellation

The annual amount varies with available funding but may not exceed $5,200 per year, with a $17,000 lifetime total.

The loan may be canceled if the borrower dies or becomes permanently disabled. It may be deferred for active-duty military service, Peace Corps service, enrollment in a nursing program, or advanced nursing training. See your promissory note for details. Heartland ECSI services this loan.

What It Is

The Nurse Faculty Loan Program (NFLP) helps students who are preparing to become nurse faculty. The CU Anschutz College of Nursing administers the program, including reviewing applications and setting award amounts. The Financial Aid & Scholarships Office disburses the funds.

Rate & Repayment

Interest begins accruing 3 months after graduation, but no payments are due during the 9-month grace period. The 10-year repayment period begins after the grace period.

Loan Cancellation for Nurse Faculty Service

If you serve as full-time nurse faculty at an accredited school of nursing, up to 85% of your loan can be canceled over four years:

• 20% canceled after each of years 1, 2, and 3
• 25% canceled after year 4

You must serve four consecutive years of full-time nurse faculty employment to receive the full 85%. Any remaining balance is repaid over the standard period. See your promissory note for details.

Who Can Apply & How Much

• Be enrolled at least part-time in an eligible Master's or Doctoral nursing program that prepares you as nurse faculty
• Complete the required educator courses before graduating
• Maintain enrollment for at least two consecutive terms during the award year
• Be a U.S. citizen or lawful permanent resident (students on a visa are not eligible)
• Meet CU Anschutz Satisfactory Academic Progress (SAP) standards if you are a continuing student

Students may receive up to $35,500 per year for up to 5 years. The actual amount depends on available funding. Heartland ECSI services this loan.

What It Is

The Federal Parent PLUS Loan is a federal loan that parents of dependent undergraduate students can use to help pay education expenses. The U.S. Department of Education makes these loans through CU Anschutz's participation in the Federal Direct Loan Program.

New Borrowing Limit

For new Parent PLUS borrowers, the loan is capped at $20,000 per year and a $65,000 aggregate (lifetime) limit per dependent student. These limits are per dependent student, not per parent, so the total a family can borrow for one student is $20,000 per year and $65,000 overall, no matter how many parents borrow.

Parent PLUS Loans are borrowed by the parent and do not count toward the student's $257,500 federal lifetime loan limit.

Who Can Apply

The student must be a dependent undergraduate enrolled at least half-time and must submit a FAFSA. The parent borrower must be the student's biological, adoptive, or step parent, be a U.S. citizen or eligible non-citizen with a valid Social Security number, and not be in default on federal aid.

A credit check is required. If the parent has an adverse credit history, they may still qualify with an endorser or by documenting extenuating circumstances.

How It Works

• Parents apply at studentaid.gov twice per school year (once for fall/spring, once for summer)
• Funds are applied first to the student's CU Anschutz account for tuition, fees, and charges, with any remainder refunded to the parent or student
• The loan has fixed interest, no prepayment penalty, and flexible repayment options through a federal servicer