The Nursing Loan is a subsidized loan with a 5 percent interest rate.

The loan has a nine-month grace period, meaning 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 6 credits). Students then have 10 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 10 years.