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The nursing student loan program provides long-term, low-interest loans to full-time and half-time financially needy students pursuing a course of study leading to an associate or bachelor’s degree in nursing. Please Note: Clinical Performance in Nursing Examination (CPNE®) eligible students will be given preference for the nursing student loan.
You are eligible to apply for this loan if you are:
• Enrolled in an associate or bachelor’s degree program in nursing at Excelsior College
The interest rate for the Nursing Student Loan is currently fixed at 5%. You will have a 9 month grace period from the time you fall below half time status, before you need to begin repayment of your Nursing Student Loan.
Annual loan limits apply by degree program as follows:
How to Apply
To apply for a Nursing Student Loan at Excelsior College you must first complete a Free Application for Federal Student Aid form (FAFSA) to determine financial need for this loan. The Excelsior College Federal Code for this application is 014251.
Please note that upon verification of your FAFSA application, should your financial need change, you may no longer qualify for this loan.
Visit ECSI to manage your account.
See how the Loan Calculator can assist you in estimating your monthly payments for Federal education loans.
After you withdraw, graduate, or drop below half-time attendance (regardless if you plan to transfer to another school), regulations require that you complete an exit counseling session to help guide you in managing your student loans after college.
Questions? Call the financial aid office at 855-323-9235, or firstname.lastname@example.org
The Nurse Faculty Loan Program (NFLP) provides funds to eligible schools of nursing that offer advanced education nursing programs to prepare graduates to serve as faculty in a school of nursing.
Excelsior College will offer full support or the amount requested by the student to cover the full or partial tuition/fees for the academic year.
• NFLP loans will be made on a first-come-first-serve basis for an academic year until funds are expended.
To apply for this loan you must:
• Be a U.S. citizen or national of the U.S, or a lawful permanent resident of the U.S. and its territories
How to apply
You must complete the following each year a loan is requested:
If you qualify for an NFLP loan we will notify you and provide instructions for accepting the loan. You must complete the following every academic year during which you receive an NFLP loan:
• An online entrance interview about the loan through us.
The NFLP loan is repayable over a 10-year period beginning 9 months after you complete the advanced nurse education program, cease to be enrolled as a student in the advanced nurse education program, or cease to be employed as full-time nurse faculty.
The school will cancel an amount up to 85% of the principal and interest of an NFLP loan over a consecutive 4-year period as follows:
• Upon your completion of each of the first, second and third year of full-time employment as a faculty member in a school of nursing, we will cancel 20% of the principal of and interest on the NFLP loan, as determined on the first day of employment; and
The NFLP loan will bear interest on the unpaid balance of the loan at the:
• Rate of 3 percent per annum beginning 3 months after the Borrower graduates from the advanced nurse education program; or
Default by the Borrower
If you default on the loan, we must immediately stop the disbursement of the NFLP loan and begin collection on the loan. Default means:
• Failure to complete the advanced nurse education program.
• Loss of the status as a student in good academic standing.
• Failure to become employed and maintain employmdent as a full-time faculty member at a school of nursing. “Full-time” has the meaning used by the employing school of nursing for its faculty. Failure to provide certification of employment will evidence default.
• Failure to make payments as required by the NFLP borrower’s Promissory Note and repayment agreement.