How to Get Student Loans for Nursing School for 2025

by Alex Hillsberg , MA

Student Finance & Loan Expert

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Launching a career in nursing is an exciting choice, but financing your education can feel daunting. Fortunately, there are several student loan options available to help you achieve your goals. This guide will walk you through the process of securing student loans for nursing school, ensuring you have the financial support you need to thrive in your studies and enter the rewarding field of nursing. With the help of our researchers, we willl cover everything from federal loans with their low interest rates and flexible repayment plans, to exploring private loan options if needed.

Key things you should know about student loans for nursing school

• Student loans can bridge the financial gap to afford nursing school, a high-demand career.
• They cover all your expenses and have flexible repayment options. 
• This financial support lets you focus on your studies and become a nurse.

 Table of Contents

1. What are the tuition and fees for nursing school programs?
2. How much you can borrow for nursing school?
3. What are the benefits of nursing-specific loans compared to other federal loans?
4. What are the different types of student loans available for nursing school?
5. What are the eligibility criteria for financial aid for nursing school?
6. How do I apply for student loans for nursing school?
7. What are the common mistakes to avoid while filling out student loans?
8. Can I use financial aid for online nursing programs?
9. What are the private student loans available for nursing students?
10. What factors should I consider when comparing nursing school student loans?
11. Should I Consider Loan Refinancing or Consolidation?
12. How Will Nursing School Loans Influence My Future Career Earnings?
13. How Does My Credit Score Influence My Nursing School Loan Options?
14. What Financial Strategies Can Optimize My Post-Graduation Loan Repayment?
15. How do nursing school loans compare with dental school loan options?
16. How Do I Compare Lender Options for Nursing School Loans?
17. What alternative financial aid options exist besides student loans?
18. Can I Benefit from Tax Deductions on My Nursing School Loans?
19. How do I manage student loans for nursing school?
20. Using Student Loans for Living Expenses in Nursing School
21. How to Avoid Common Pitfalls When Taking Out Nursing School Loans
22. Other Things You Should Know About Student Loans for Nursing School

What are the tuition and fees for nursing school programs?

Students can look through university websites to determine how much is community college for nursing or their desired nursing program in any educational institution. The cost of nursing school can vary significantly depending on factors like the type of program, whether it is an in-state public university or a private institution, and the specific location. On average, the total yearly cost for a nursing program ranges from around $12,300 to $50,000 or more.

For public in-state nursing programs, tuition and fees typically fall in the $12,000 to $30,000 range per year. Out-of-state students at public universities can expect to pay $20,000 to $50,000 annually. Private nursing schools tend to be the most expensive, with yearly costs often exceeding $40,000 and reaching up to $60,000 or more. Beyond tuition, nursing students must budget for additional expenses like textbooks, supplies, transportation to clinical rotations, and living costs if not living at home. These extra expenses can add several thousand dollars per year to the overall cost of nursing school.

How much you can borrow for nursing school? 

Figuring out how much you can borrow for nursing school depends on a few things. Federal loans have set limits that vary by year in school, dependency status, and loan type. Direct Subsidized Loans are need-based and have lower annual limits for undergraduates which ranges from $3,500 to $12,500. Unsubsidized Loans are for everyone have higher limits, from $5,500 to $20,500. There are also Health Resources and Services Administration (HRSA) Nursing Student Loans with a minimum of $1,000 and a $17,000 lifetime cap. Private loans can cover any remaining costs after federal aid, but have varying limits based on your creditworthiness and program costs. There are also scholarships for online students. It is important to prioritize federal loans first for their lower rates and repayment flexibility. Private loans can fill the gap, but borrow only what you need and plan for repayment.

What are the benefits of nursing-specific loans compared to other federal loans?

The benefits of nursing student loans can make financing nursing school more accessible and manageable for aspiring nurses. It can be a good budget for college student. Federal programs like the Nurse Corps Loan Repayment Program offer forgiveness specifically for nurses working in underserved communities. 

• Targeted Funding: Nursing student loans, such as those offered through the Health Resources and Services Administration (HRSA), are specifically designed to support the education and training of future nurses. This targeted funding helps address the critical nursing shortage in the U.S. 
• Subsidized Interest: Many nursing student loans, including HRSA Nursing Student Loans, are subsidized, meaning the government pays the interest while you are in school at least half-time. This helps keep your overall borrowing costs down. 
• Flexible Repayment: Nursing student loans often come with flexible repayment options, including income-driven plans that cap your monthly payments at a percentage of your discretionary income. This can make repayment more manageable, especially early in your nursing career. 

• Potential for Forgiveness: Nurses who work in certain public service or non-profit roles may qualify for federal loan forgiveness programs like Public Service Loan Forgiveness (PSLF). This can significantly reduce the overall amount you have to repay.

Nursing school loans can be a valuable tool for students to finance their education. Here is a breakdown of estimated costs for different nursing programs, based on data from the National Center for Education Statistics.

What are the different types of student loans available for nursing school?

Nursing students should first exhaust federal loan options, which offer benefits like income-driven repayment plans and potential for loan forgiveness, before turning to private loans. The Health Resources and Services Administration (HRSA) nursing-specific loans are also a valuable resource for eligible students.

• Direct Subsidized Loans: Based on financial need, the government pays the interest while you are in school at least half-time, during deferment periods, and for the first six months after graduation (grace period).
• Direct Unsubsidized Loans: Available to all students regardless of need, interest accrues from the time the loan is disbursed.
• Direct PLUS Loans: For graduate or professional students and parents of undergraduate students, these loans can cover the full cost of attendance minus other financial aid received but have higher interest rates than subsidized and unsubsidized loans.
• Targeted loan forgiveness programs: These programs forgive a portion of your federal loan debt in exchange for working in underserved areas with critical nursing shortages.

This table from the Federal Direct Staffor Loans and Health Resources and Services Administration shows how much students can borrow for nursing school. These are estimated amounts and may vary depending on your specific situation and school program.

What are the eligibility criteria for financial aid for nursing school?

Financial aid eligibility for nursing school generally follows two tracks: federal aid and aid specific to your chosen institution. Some might require a scholarship application letter and other supporting documents.

• Citizenship Status: You must be a U.S. citizen, permanent resident, or other eligible non-citizen.
• Enrollment Status: Be enrolled at least half-time in a program leading to a nursing qualification (diploma or degree).
• Financial Need (for some programs): Demonstrate financial need as determined by the Free Application for Federal Student Aid (FAFSA). This assesses your financial situation to determine how much federal aid you are eligible for.
• Academic Progress: Maintain satisfactory academic progress according to your school's standards. This typically involves achieving a minimum GPA.

• Clean Loan History (for some loans): For certain loans, you cannot be in default on any previous federal student loans.

How do I apply for student loans for nursing school?

The application process for student loans for nursing school involves two main steps: completing the Free Application for Federal Student Aid (FAFSA).

• Fill out the FAFSA: This online application determines your federal financial aid eligibility, including grants, subsidized and unsubsidized loans, and PLUS loans.
• School receives your FAFSA data: Your chosen nursing school will receive your FAFSA information and create a financial aid award letter outlining your eligibility for federal aid and any school-specific grants or scholarships.
• Accept your award: Carefully review the award letter and accept the types of federal aid you wish to utilize.

The loan amount will also be different depending on the degree you are applying for. Master’s degree in nursing would have a higher annual loan amount, according to Federal Student Aid.

What are the common mistakes to avoid while filling out student loans?

The key to applying student loans is to maximize free aid, borrow prudently, understand the loan terms, and have a plan for repayment. It is important to be careful in planning upfront because it can help nursing students avoid costly mistakes with student loans.

• Not completing the FAFSA as soon as possible: The FAFSA is the gateway to accessing federal student aid, including grants, work-study, and low-interest federal loans. Filling it out early maximizes your chances of getting the most financial aid. You can still check
• Borrowing more than you need: Just because you are offered a certain loan amount does not mean you have to take the full amount. You should only borrow what you need to cover essential nursing school expenses like tuition, fees, and books.
• Overlooking federal loan options: Federal student loans like Direct Subsidized, Direct Unsubsidized, and PLUS Loans should be your first choice, as they offer benefits like fixed interest rates, income-driven repayment plans, and potential for forgiveness. It is beneficial to exhaust these before turning to private loans.
• Not understanding loan types and interest rates: You should know the difference between fixed and variable interest rates, as this can significantly impact your long-term costs. It is also important to be aware of how your credit profile affects the interest rate you qualify for.
• Failing to calculate future repayment: Before taking out loans, you need to estimate your expected monthly payments after graduation and ensure they will be manageable based on your anticipated nursing salary. Avoid borrowing more than 1 times your expected first-year income.

• Neglecting to explore nursing-specific loan programs: Programs like the HRSA Nursing Student Loan offer specialized, low-interest financing for nursing students that can supplement federal loans.

Can I use financial aid for online nursing programs?

Online nursing students have access to a variety of financial aid options like the FAFSA, including Pell Grants, federal student loans (Direct Subsidized, Direct Unsubsidized, PLUS Loans), and work-study funds, as long as they meet the eligibility criteria and enrollment requirements. Careful research is key to maximizing funding for an online nursing education or even paying for mba. In addition to federal aid, there are nursing-specific loan programs like the HRSA Nursing Student Loans that offer low-interest, long-term financing for nursing students. Many online nursing schools also provide institutional scholarships, grants, and fellowships to help offset costs. 

What are the private student loans available for nursing students?

The key is for nursing students to first exhaust federal loan options like Direct Subsidized, Direct Unsubsidized, and PLUS Loans, which offer benefits like income-driven repayment and potential for forgiveness. Private loans should be used to supplement federal aid if additional funding is needed to cover the full cost of nursing school.

• Ascent Student Loans: This loan offers traditional student loans as well as an Outcomes-Based Loan that does not require established credit or a cosigner. It provides a range of loan terms from 5 to 20 years and allows cosigner release after as few as 12 on-time payments.
• College Ave Student Loans: This specializes in graduate student loans, including for nursing programs. It offers fixed and variable interest rates and provides flexible repayment terms from 5 to 15 years.
• Sallie Mae Student Loans: This loan has a specific graduate nursing loan product. it allows students to borrow up to the full cost of attendance. It also offers the option to have a cosigner on the loan.
• Earnest Student Loans: This provides private student loans for both undergraduate and graduate nursing students. It evaluates applicants holistically beyond just credit scores and offers customized repayment terms and the ability to change your payment due date
• ISL Private Student Loans: This provides private student loans for healthcare-related programs, including nursing. This private student loan offers fixed and variable interest rate options and allows students to borrow up to the full cost of attendance.

What factors should I consider when comparing nursing school student loans?

When evaluating loan offers, focus on the complete cost of borrowing rather than the advertised interest rate alone. Consider whether the repayment terms are fixed or variable, the availability of income-driven repayment plans, and any fees or origination costs that may apply. Assess grace periods, deferment or forbearance options, and the potential for loan forgiveness, especially if you plan to work in underserved areas. It is also essential to examine eligibility criteria and compare how different lenders tailor repayment structures to match future income expectations. For an in‐depth review of these considerations, refer to EdFinancial Services.

Should I Consider Loan Refinancing or Consolidation?

Loan refinancing and consolidation may present attractive options for eligible nursing graduates seeking lower interest rates and streamlined repayment. Consider consolidating multiple loans to reduce administrative complexity, but evaluate offers cautiously—refinancing federal loans with private lenders can lead to the loss of income-driven repayment plans and forgiveness benefits. Assess your credit profile and employment stability to ensure that the long-term savings truly align with your financial goals. Additionally, if exploring alternative academic pathways, review options like the easiest graduation degree for a broader perspective on career advancement.

How Will Nursing School Loans Influence My Future Career Earnings?

Evaluating the long-term impact of student loans involves comparing your financial investment with anticipated career earnings. Analyze projected salary growth, repayment timelines, and interest accumulation to determine the true return on investment. Use reliable industry data, such as trends in emerging roles and salary benchmarks from highest-paying bachelor degree medical jobs, to ensure your education financing aligns with your career objectives. This strategic approach enables informed decision-making when balancing current debt with future financial opportunities.

How Does My Credit Score Influence My Nursing School Loan Options?

A strong credit history can be crucial when considering private loan options, as lenders evaluate credit scores to determine interest rates and repayment terms. While federal student loans do not depend on credit scores, improving your credit profile can open doors to supplementary funding opportunities with more competitive terms. Regularly review your credit report, address inconsistencies, and aim to maintain low debt-to-income ratios—steps that help in qualifying for favorable private loan offers. Additionally, evaluating alternative advanced degree options might be beneficial; for example, if you are considering further studies, explore what is the easiest PhD to get to support your long-term career planning.

What Financial Strategies Can Optimize My Post-Graduation Loan Repayment?

Evaluate tailored repayment plans and advanced budgeting methods to ensure long-term financial stability after graduation. Compare income-driven and fixed repayment options to determine which scheme minimizes interest over time and suits your anticipated salary progression. Consider employer-sponsored assistance programs and financial counseling services as part of your post-graduation strategy. Utilize specialized financial planning tools to monitor your repayment progress and adjust your budget as your circumstances evolve. For information on cost-effective education alternatives, review online colleges that accept FAFSA near me.

How do nursing school loans compare with dental school loan options?

Nursing and dental education have distinct financing landscapes that influence loan selection and repayment strategies. Nursing loans often provide benefits such as income‐driven repayment plans and targeted forgiveness programs for service in underserved areas. In contrast, dental programs sometimes rely heavily on private borrowing with varying terms and narrower federal support. While both fields face significant tuition and living expense challenges, evaluating differences in interest rates, repayment flexibility, and eligibility criteria is essential when comparing funding options. For insights into related borrowing alternatives in dentistry, review private loans for dental school.

How Do I Compare Lender Options for Nursing School Loans?

When evaluating lender options, focus on parameters such as interest rates, fee structures, repayment flexibility, and overall customer service. Identify the total borrowing cost by examining annual percentage rates, origination fees, and repayment terms that align with your long‐term financial goals. Utilize trusted comparison tools and review borrower feedback to distinguish between providers. For additional insights and competitive offers, research the best private student loans available.

What alternative financial aid options exist besides student loans?

Diversify your funding strategy by exploring non-loan avenues that can significantly reduce your overall debt. Investigate scholarships, grants, and work-study programs specific to nursing that are offered by educational institutions and professional organizations. Additionally, many schools provide dedicated financial counseling services to help identify local and national resources that match your unique profile. Consider also employer tuition assistance programs and community-based funding initiatives as viable alternatives. For those interested in further cost reduction, explore cheap online college classes to complement your nursing education expenses.

Can I Benefit from Tax Deductions on My Nursing School Loans?

Student loan interest may be tax-deductible, potentially reducing your taxable income by up to $2,500 annually if you meet specific income requirements. To qualify, maintain proper documentation of the interest paid, and verify that your modified adjusted gross income aligns with IRS thresholds. Regularly review current tax laws to ensure compliance with any changes that might affect your deduction. For those considering advanced studies, evaluating the tax benefits alongside the cost of further education—such as pursuing highest paying master's degrees—can provide valuable insight into long‐term financial planning.

How do I manage student loans for nursing school?

Juggling student loans alongside nursing school requires a smart approach. It is important to create a budget to track your income and expenses, prioritizing needs like housing and food. Federal loans offer the best benefits, so utilize income-driven repayment plans to potentially lower your payments after graduation. Remember that the Public Service Loan Forgiveness program may forgive your debt if you work in a public service setting. By following these steps, you can effectively manage your loans and reach your dream of becoming a financially secure nurse.

Using Student Loans for Living Expenses in Nursing School

Pursuing a nursing degree often means balancing academics with the practical challenges of covering daily expenses. While tuition and fees are major costs, living expenses such as housing, groceries, transportation, and childcare can add up quickly. Fortunately, student loans can be a lifeline for managing these additional costs, ensuring students can focus fully on their studies.

Can Student Loans Cover Living Expenses?

Yes, student loans can be used to cover living expenses. Both federal and private loans are designed to support the total cost of attendance (COA), which includes tuition, books, supplies, and necessary living costs. This ensures that students can maintain their standard of living while completing their education.

Considerations for Private Loans

If federal loans do not cover all living expenses, private loans can help bridge the gap. However, they often come with higher interest rates and stricter terms. Be sure to compare lenders and choose one that offers competitive rates and flexible repayment options.

For a deeper dive into managing living expenses, explore our guide on additional student loans for living expenses.

Here is what students have to say about getting student loans for nursing school

"Securing a student loan was crucial for me to attend nursing school and pursue my dream career. The flexible repayment options and low interest rates allowed me to focus on my studies without the added stress of financing my education out-of-pocket. I am grateful the loan process was straightforward and that I was able to get the funding I needed to become a nurse.” - Emily

"As a first-generation college student, I was not sure how I would pay for nursing school. Fortunately, the federal student loan program provided me with the resources to cover tuition, books, and living expenses. This financial support gave me the freedom to immerse myself in my nursing curriculum and gain valuable clinical experience. I am proud to be a nurse today thanks to the accessibility of student loans.” - Liam

"Nursing school was a significant investment, but taking out a student loan made it possible. The loan deferment options gave me the time I needed to find a nursing job after graduation before starting repayment. This breathing room was invaluable and allowed me to transition smoothly into my career. I am thankful the loan process was seamless and that I had this financial aid to fall back on.” - Sophia

How to Avoid Common Pitfalls When Taking Out Nursing School Loans

Navigating the process of securing funding for your nursing education requires more than just understanding loan options—it’s equally crucial to avoid common pitfalls that could lead to financial strain later. Here are key strategies to keep in mind when managing nursing school loans:

1. Avoid Overborrowing: Only borrow what you truly need to cover tuition, fees, and essential living expenses. Overestimating your loan needs could result in higher debt that will accrue interest over time. A detailed budget can help you determine the exact amount required.
2. Understand Loan Terms: Familiarize yourself with the terms and conditions of your loans, such as interest rates, repayment plans, and deferment options. This helps prevent surprises and ensures you choose the most suitable loan for your needs. Federal loans generally offer more flexible terms than private loans.
3. Minimize Private Loan Dependency: Exhaust all federal aid options before turning to private loans, as federal loans come with benefits like income-driven repayment plans and potential forgiveness. For detailed guidance on accessing loan options, refer to our comprehensive resource on student loans for nursing school.
4. Stay Organized with Payments: After graduation, keep track of your repayment start date and minimum monthly payments. Setting up automatic payments can ensure you never miss a due date, benefitting your credit score and financial stability.
5. Use Grace Periods Wisely: Many federal loans come with a grace period after graduation before repayment begins. Use this time to secure employment and develop a repayment strategy rather than letting interest unnecessarily accrue.
6. Seek Scholarships and Grants: Before taking on substantial debt, explore scholarships and grants for nursing students, which do not need to be repaid. Many universities and organizations offer targeted financial aid to nursing candidates.

Preparing thoughtfully and avoiding these pitfalls can streamline your experience with student loans, paving the way for a successful and financially stable nursing career.

Key Facts

• On average, the total yearly cost for a nursing program ranges from around $12,300 to $50,000.
• For public in-state nursing programs, tuition and fees typically fall in the $12,000 to $30,000 range per year.
• To receive federal financial aid, online nursing students must be enrolled at least 6-8 credits for undergrad students, 5 credits for graduate students.
• Ascent Student Loans provides a range of loan terms from five to 20 years.

Other Things You Should Know About Student Loans for Nursing School 

How many times can you have student finance?

The number of times you can access student finance depends on your country's system and the type of program. Typically, funding covers the standard length of your first undergraduate degree, with some countries offering an extra year in special cases. Second undergraduate degrees and postgraduate studies may have limited funding or stricter requirements. To avoid using up all your eligibility before postgraduate studies, explore scholarships, grants, and part-time work to help finance your education. 

Can I pay off my student loan in full at any time?

You can pay off your student loans in full at any time without penalty. This is called prepayment and it is generally encouraged, especially for federal loans. By paying off your loans early, you can save a significant amount of money on interest charges. 

How much is interest on a student loan?

The interest rate on your student loan depends on the type of loan you have and when you borrowed it. Interest rates on federal student loans are set by the U.S. Department of Education and change annually. They are generally lower than interest rates on private loans. Interest rates on private loans vary depending on the lender, your creditworthiness, and the loan terms. They are typically higher than federal loan interest rates.

References:

1. Herzing University. (N.D.). Nursing Student Loan Program (NSL). Retrieved from: https://www.herzing.edu/nsl
2. National Center for Education Statistics. (N.D.). Digest of Education Statistics. Retrieved from: https://nces.ed.gov/programs/digest/d23/tables/dt23_330.20.asp
3. University of St. Thomas. (2024). Financial Aid for Nursing School: Guide to Student Funding. Retrieved from: https://absn.stthom.edu/blog/financial-aid-for-nursing-school/
4. U.S. Department of Education. (N.D.). Federal Student Loans. Retrieved from: https://www.ed.gov/category/keyword/federal-student-loans