2022-2023 Loan Chart
 
2022-2023 Loan Information Chart
  Federal Nursing Loan

Direct Loan
(Subsidized & Unsubsidized)

Direct PLUS Loan/Grad PLUS Loan Private/ Alternative Loan
Borrower Student Student Parent/ Graduate Student Student
Cosigner None None Only if poor credit Probable

Credit Check

No No Yes Yes
Interest Rate
(effective July 1, 2022- June 30, 2023)
5% Fixed

4.99% Subsidized/Unsubsidized [Undergraduate Programs]

6.54% Unsubsidized [Graduate Programs]
7.54% Varies by Lender/Program
Fees
(deducted from loan proceeds prior to disbursement)
(effective Oct. 1, 2021- Sept. 30, 2022)
None 1.05% Origination Fee 4.228% Origination Fee Vary by loan program and credit rating
Loan Limits

Determined by school based on need and available funds

Annual amounts $500 – $8,237 depending on grade level, loan program limits, and funding

Undergraduate Limit= $25,825

Freshman  = $5,500 (up to $3,500 Sub.)

Sophomore  = $6,500 (up to $4,500 Sub.)

Junior/Senior  = $7,500 (up to $5,500 Sub.)

Graduate = $20,500 (all Unsubsidized)

Dependent/Undergrad. Limit = $31,000 (up to $23,000 can be Subsidized)

Independent/Undergrad. Limit = $57,500 (up to $23,000 can be Subsidized)

Graduate/Professional Limit = $138,500* [*includes undergraduate borrowing]

Cost of Attendance minus other financial aid Cost of Attendance minus other financial aid
Repayment

9 months after leaving school or dropping below half-time status

6 months after leaving school or dropping below half-time status 60 days after fully disbursed
(Upon request, payments may be deferred until after student graduates.)
Check with Lender

 

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