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Nursing Student Loan

nursing student loan

This federally funded loan is awarded by Temple University to undergraduate nursing students based on evaluated financial need. Funds are limited and are usually awarded to supplement Federal Direct Loans.

All eligible undergraduate nursing students that file the FAFSA will be reviewed for funding.

  • Documented financial need (as determined by the FAFSA),
  • Federal verification are required before funding can be disbursed and
  • At least part-time enrollment per semester is required. 

The interest rate is 5%, and interest is subsidized until you begin repayment, which begins nine months after you complete or withdraw from your academic program.

Borrowing Limits

Annual grade level (total completed credits):

  • 1st year undergraduate (0-29 credits completed) & 2nd year undergraduate (30-59 credits completed) = $4,816
  • 3rd year undergraduate & 4th year undergraduate (60 credits completed and beyond) = $7,576

Aggregate (total borrowing allowed):

  • $24,768

Loan Requirements

  1. Accept your Nursing Student Loan by accessing the "Financial Aid Package" section within the Costs & Aid tab of your TUportal account. 
  2. Students will receive an email from Temple's loan servicer, University Accounting Service (do-not-reply@uasconnect.com) within five business days of accepting the loan. In the email, students will be directed to the University Accounting Service website to:
    1. Complete the online Entrance Counseling, Promissory Note and Truth in Lending requirements. *Please have your FASFA pin and two references to complete these requirements*  
  3. Loan funds will disburse to a student's account on the fourth business day after completing the online requirements. The university is required by federal law to delay loan disbursements for three business days and disburse funds on the fourth business day.

Repayment

The following loan costs are based on a typical Nursing Student loan of $4,000.00 a year:

Total Loan Amount: $4,000.00

Interest Rate*: 5.0% Fixed

Repayment Period: 120 months/10 years

Monthly Payment Amount: $42.34

Estimated Finance Charge: $1,080.80

*Interest does not accrue and payments are not due while the student is enrolled at least half-time in a Nursing degree program and during the 9-month grace period.

Bankruptcy Limitations

Students who file for bankruptcy may still be required to pay back this loan.

Default Penalties

If the borrower fails to make an installment payment when due or fails to comply with the terms of the promissory note, the loan will be considered in default.

Loan Servicer

Nursing Loans are serviced by University Accounting Service, LLC.