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The Nursing Loan is a Subsidized Loan with a 5% interest rate.
The Loan has a nine month grace period, meaning that it does not begin to accrue interest and does not go into repayment until nine months after the student drops below half-time status (below six credits). Students then have ten years to repay the loan.
Students who borrow $4,000 would have a monthly payment of $42.43 and total finance charges of $1,901.01 over the ten years.