Educational Loans for Nursing School

With the rising tuition costs of health majors, especially nursing, it's no wonder many students are turning to student loans to help out. Educational loans for nursing students are generally the same as any other student loan; however the loan amount may vary from career to career.

Nursing students may need extra money for tuition and other costs due to higher tuition for health majors and extra supplies that are required. Nursing students also experience hectic schedules that make it near impossible to hold a full-time job outside of school. Just like any other health major, extra lab equipment, certifications (CPR etc.), and additional books are not uncommon purchases.

This is why a government loan such as a Stafford loan, may not be enough to cover all of a nursing students expenses. If you are experiencing difficulty paying for your nursing expenses, contact your financial aid advisor immediately. You may qualify for additional government aid, depending on your financial situation.

Nursing students may also apply for alternative loans from private institutions or banks. Large banks such as Wells Fargo or Bank of America have specialized educational loans for students enrolled in health majors. Health related educational loans from these types of institutions generally have a higher borrowing amount that allows students enrolled in nursing school to pay for additional educational costs.

The interest rates and terms and conditions will vary from bank to bank, and generally subsidized loans aren't available for alternative loans. Although most banks don't require students to repay the loan amount until after graduation, interest will accrue while enrolled in school, unlike government or federal sponsored loans such as those from FASFA. Therefore, you should be aware of any and all related rates, fees, and charges associated with the loan you are applying for.