The aggregate limit for the Federal Nursing Loan is $17,000.
Understanding the Federal Nursing Loan
The Federal Nursing Loan (NSL) is a vital financial aid program designed to support students pursuing careers in nursing. Administered through participating educational institutions, these low-interest loans help students manage the costs associated with their nursing education. The program aims to increase the number of qualified nursing professionals by making education more accessible.
Federal Nursing Loan Limits Explained
Students enrolled in eligible nursing programs can receive varying loan amounts each academic year, up to a defined lifetime maximum. These limits are structured to reflect different stages of a student's academic journey:
- Freshman and Sophomore Years: Nursing students in their initial two years of study are eligible to receive a maximum annual loan amount of $3,300.
- Junior and Senior Years: For nursing students in their third and fourth years, the maximum annual loan amount increases to $5,200.
These annual disbursements contribute towards an overall aggregate maximum that a student can receive throughout their entire nursing education.
Aggregate Loan Limit
The total, cumulative amount that a student can borrow through the Federal Nursing Loan program across all years of study is capped at $17,000. This aggregate limit ensures a sustainable distribution of funds while providing substantial support for students completing their nursing degrees.
To summarize the Federal Nursing Loan limits:
Academic Year/Type | Maximum Loan Amount |
---|---|
Freshman/Sophomore | $3,300 (Annual) |
Junior/Senior | $5,200 (Annual) |
Overall (Aggregate) | $17,000 (Lifetime) |
For more detailed information on eligibility criteria and application procedures, students should contact their institution's financial aid office or explore specific program details available through educational institutions. Learn more about Federal Nursing Loans.