Nursing Student Loans

 

To increase educational opportunities by providing long-term, low-interest loans to students in need of financial assistance and in pursuit of a course of study in an approved nursing program.

Active 93.364 Health Resources and Services Administration, Department of Health and Human Services E - Direct Loans Fiscal Year 2021 In FY 2021, the Health Careers Loans and Scholarship allocated $9,426,000 to 87 eligible schools. A program-specific webinar was conducted with all grantees focused on marketing and updates on program-specific guidance, which resulted in a 10 percent increase in loans to students. Individual awards ranged from $2,000 to $4,800. The NSL program increased by 13 new recipients.
Fiscal Year 2022 In FY 2022, the Health Careers Loans and Scholarship allocated $14,580,000 to 32 eligible schools. A program-specific webinar was conducted with all grantees focused on marketing and updates on program-specific guidance. The NSL program increased by 18 new recipients. Public Health Service Act, Section 835-842
Public Law 105-392., Title Health Professions Education Partnership Act of 1998
42 U.S.C. U.S.C. 297a-i, as amended All accredited public and nonprofit private schools of nursing that prepare students for practice as registered or graduate nurses, and that do not discriminate against students because of race, color, origin, sex, or handicapping conditions, are eligible to apply for funds to be disbursed to qualified nursing students. Federally Recognized Indian Tribal Governments and Native American Organizations may apply if they are otherwise eligible. The Nursing Student Loan Program provides financial assistance to nursing students who are citizens, nationals or lawful permanent residents of the United States or the District of Columbia, the Commonwealth of Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands, Guam, American Samoa, the Republic of Palau, the Republic of the Marshall Islands, and the Federated States of Micronesia. New applications for this program can be acquired from the Division of Health Careers and Financial Support by calling 1-877-464-4772 . The annual operating reports serve as the new year application for current NSL recipient institutions. 2 CFR 200, Subpart E - Cost Principles applies to this program. Preapplication coordination is not applicable. 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. Federal Awards applies to this program. This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Students should apply at financial aid office of school of their choice for assistance in applying for a loan. The school then tabulates requests for financial aid and awards loans based on needs of students and available funds. Schools can obtain new applications for this program by calling 1-877-464-4772 . Annual operating reports serve as the renewal application for current loan recipient institutions. Notification of award is made in writing (electronic) through a Notice of Award. The Notice of Award is sent to the School's Contact Person notifying the school of the amount of federal funds allocated for loans prior to the beginning of the academic year in which the award is to be utilized. The student is notified by student aid office of approval or disapproval at times determined by schools. Contact the headquarters or regional location, as appropriate for application deadlines From 120 to 180 days. Approximately 120 - 180 days after receipt of applications. Not applicable. Applications are only required for new schools. Annual Operating Reports are required for renewals. Applications will be reviewed for completeness, eligibility, and accuracy to determine if applicant schools meet minimum program requirements. The maximum amount a student may borrow is $5,460 for an academic year for each of the first two years, $8,588 for each of the final two years of a baccalaureate or graduate degree program, or the amount of the student's financial need, whichever is less. The total of all Nursing Student Loans to any student is limited to $26,928. Loans will be made to full and half-time nursing students enrolled after June 30, 2022 who are citizens, nationals, lawful permanent residents of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands, Guam, American Samoa, the Republic of Palau, the Republic of the Marshall Islands, and the Federated States of Micronesia. Funds are made to schools of nursing to capitalize loans. Not applicable. Not applicable. Recipients are required to maintain grant accounting records 3 years after the date they submit the Annual Operating Report (AOR). If any litigation, claim, negotiation, audit or other action involving the award has been started before the expiration of the 3 year period, the records shall be retained until completion of the action and resolution of all issues which arise from it, or until the end of the regular 3 year period, whichever is later. Statutory formula is not applicable to this assistance listing.

Matching is mandatory. Requirement for all Revolving Loan programs as outlined in Title 42 CFR 57.302: 11%. Under the Federal Capital Contribution method, schools participating in loan programs must match the federal contribution with an amount not less than one-ninth of the funds drawn down.

MOE requirements are not applicable to this assistance listing. Length and time of assistance depends upon the time required by the student to complete the required course of study leading to a degree and is subject to availability of funds. Recipients draw down funds, as necessary, from the Payment Management System (PMS). PMS is the centralized web based payment system for HHS awards. None/Not specified. Tejasvi Koka
Division of Health Careers and Financial Support
Bureau of Health Workforce
Rockville, MD 20857 US
tkoka@hrsa.gov
Phone: (301) 443-1173

Tinika Mayo
Division of Health Careers and Financial Support
Bureau of Health Workforce
Rockville, MD 20857 USA
TMayo@hrsa.gov
Phone: (301) 443-4306 http://bhw.hrsa.gov/funding 75-0350-0-1-550 (Direct Loans) FY 22$13,794,502.00; FY 23 est $8,840,608.00; FY 24 est $13,000,000.00; FY 21$9,426,000.00; FY 20$7,500,000.00; FY 19$7,773,916.00; FY 18$9,342,281.00; FY 17$9,342,281.00; FY 16$5,055,338.00; - FY22 Range $20,000 - $900,000; Average per institution $450,000 FY23 Range $26,000 - $1,100,000; Average per institution $326,400 FY24 est: Range $23,000 - $1,000,000; Average per institution $388,200 All administrative and audit requirements and the cost principles that govern Federal monies associated with this activity will be subject to the Uniform Guidance 2 CFR 200 as codified by HHS at 45 CFR 75. HRSA awards are also subject to the requirements of the HHS Grants Policy Statement (HHS GPS) that are applicable based on recipient type and purpose of award. The HHS GPS is available at http://www.hrsa.gov/grants/hhsgrantspolicy.pdf. Not applicable.