7 Best Nursing Student Loans of November 2024

College Ave Private Student Loan

Fixed APR

3.59-17.99%

Variable APR

5.34-17.99%

Min. credit score

Mid-600s

on College Ave's website

4.5/5

Sallie Mae Undergraduate Student Loan

Fixed APR

3.49-15.49%

Variable APR

5.04-15.21%

Min. credit score

Mid-600's

on Sallie Mae's website

on Credible’s website

Best Nursing Student Loans

Lender	NerdWallet Rating	Min. credit score	Fixed APR	Variable APR	Learn more
Federal Subsidized/Unsubsidized Loan Read review	5.0 /5 Best for All nursing students as a first choice	None	5.50-7.05%	N/A	Read review
Federal Grad PLUS Loan Read review	5.0 /5 Best for Nurses pursuing advanced degrees	None	7.54-7.54%	N/A	Read review
Sallie Mae Graduate School Loan for Health Professionals GO TO LENDER SITE on Sallie Mae's website on Sallie Mae's website COMPARE RATES on Credible’s website on Credible’s website	4.5 /5 Best for Graduate nursing students with strong finances	Mid-600's	3.49-14.48%	5.04-14.48%	GO TO LENDER SITE on Sallie Mae's website on Sallie Mae's website COMPARE RATES on Credible’s website on Credible’s website
Ascent Graduate and Health Professions Student Loan COMPARE RATES on Credible’s website on Credible’s website	5.0 /5 Best for Graduate nursing students with strong finances	Low-Mid 600s	4.69-14.56%	7.51-14.72%	COMPARE RATES on Credible’s website on Credible’s website

Our pick for

All nursing students as a first choice

You may be able to borrow subsidized or unsubsidized federal loans for an undergraduate nursing degree or certificate program. Unsubsidized loans are available for graduate programs.

Federal Subsidized/Unsubsidized Loan

5.0

Min. credit score

None

Fixed APR

5.50-7.05%

Variable APR

N/A

Key facts

Federal student loans are available to nursing students enrolled at least half-time at a degree-granting institution.

Pros

More flexible repayment options for struggling borrowers than other lenders.
Subsidized loans do not collect interest while in school or during deferment.
Lower interest rates than many private lenders.

Cons

You pay an origination fee.

Qualifications

No credit check or minimum income is needed to borrow.
Loan amounts for undergraduates: $5,500 year one, $6,500 year two, $7,500 year three and thereafter, up to a total of $31,000
Independent students and graduate students have higher loan limits.
Undergraduate interest rate fixed at 3.73%, while grad students get higher 5.28% rate

Available Term Lengths10 to 25 years once repayment begins, depending on the repayment plan.

Our pick for

Nurses pursuing advanced degrees

Graduate students can take out up to $20,500 annually in unsubsidized loans. You can use graduate PLUS loans to fill any remaining tuition gap.

Federal Grad PLUS Loan

5.0

Min. credit score

None

Fixed APR

7.54-7.54%

Variable APR

N/A

Key factsBest for graduate students who need to borrow beyond the federal unsubsidized loan limit.

Pros

More flexible repayment options for struggling borrowers compared with private lenders.
All borrowers who attend a school authorized to receive federal aid can qualify.

Cons

May have higher interest rates compared with private lenders.
You pay an origination fee.
You can’t see if you’ll qualify without a hard credit check.

Qualifications

Grad PLUS loan borrowers must not have adverse credit history.
Borrowers with adverse credit history can still receive a grad PLUS loan by enlisting a co-signer without adverse credit history or documenting extenuating circumstances for their credit history.
Loan amounts: Total cost of attendance minus other financial aid.

Available Term Lengths10 to 25 years once repayment begins, depending on the repayment plan.

Our pick for

Graduate nursing students with strong finances

You may save money with a private nursing school loan if you have good credit. These lenders offer loans specifically for advanced nursing degrees, but you can borrow any graduate school loan.

GO TO LENDER SITE

on Sallie Mae's website

COMPARE RATES

on Credible’s website

Sallie Mae Graduate School Loan for Health Professionals

4.5

Min. credit score

Mid-600's

Fixed APR

3.49-14.48%

Variable APR

5.04-14.48%

Key facts

Rating and details displayed are for Sallie Mae's private student loan. Sallie Mae offers a Graduate School Loan for Health Professions with a 15-year repayment term and the option to make 12 interest-only payments after your grace period.

Pros

One of the few lenders to provide loans to part-time students.
Non-U.S. citizens, including DACA students, can apply with a U.S. co-signer.

Cons

You can't see if you’ll qualify and what rate you’ll get without a hard credit check.

Qualifications

Available Term Lengths10 to 20 years

DisclaimerLowest rates shown include the auto debit. Advertised APRs for Graduate School Loan, MBA Loans, and Graduate School Loan for Health Professions assume a $10,000 loan with a 2-year in-school period. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. Advertised APRs are valid as of 10/25/2024.

COMPARE RATES

on Credible’s website

Ascent Graduate and Health Professions Student Loan

5.0

Min. credit score

Low-Mid 600s

Fixed APR

4.69-14.56%

Variable APR

7.51-14.72%

Key facts

Ascent offers a health professions student loan with a nine-month grace period and 36-month in-school deferment. Borrowers enrolled at least half-time can apply.

Pros

Forbearance of 24 months is longer than many lenders offer.
Grace period of 9 months is longer than many lenders offer.
You can see if you’ll qualify and what rate you’ll get without a hard credit check.

Cons

You must be enrolled at least half-time to qualify.

Qualifications

Typical credit score of approved borrowers or co-signers: Not available.
Minimum income: Not available.
Loan amounts: up to $400,000.

Available Term Lengths7, 10, 12 or 15 years

DisclaimerAscent’s undergraduate and graduate student loans are funded by Bank of Lake Mills or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent's Terms and Conditions please visit: AscentFunding.com/Ts&Cs. Rates displayed above are effective as of 11/1/2024 and reflect an Automatic Payment Discount of 0.25% for credit-based college student loans and 1.00% discount on outcomes-based loans when you enroll in automatic payments. The Full P&I (Immediate) Repayment option is only available for college loans (except for outcomes-based loans) originated on or after June 3, 2024. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school, and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. 1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. The AscentUP platform is only available to eligible Ascent borrowers and subject to terms and conditions.

GO TO LENDER SITE

on College Ave's website

COMPARE RATES

on Credible’s website

College Ave Graduate Student Loan

5.0

Min. credit score

Mid-600s

Fixed APR

3.59-14.49%

Variable APR

5.34-14.49%

Key factsBest for graduate students who'll need extra time before starting repayment.

Pros

You can see if you’ll qualify and what rate you’ll get without a hard credit check.
International students can qualify with a co-signer.
Nine-month grace period is longer than other lenders offer.

Cons

You must be at least halfway through your repayment term before you can request a co-signer release.

Qualifications

Typical credit score of approved borrowers: Mid-700s.
Minimum income: $35,000 per year.
Loan amounts: $1,000 up to the total cost of attendance.

Available Term Lengths5, 8, 10 or 15 years

DisclaimerCollege Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. (1)All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. (2)As certified by your school and less any other financial aid you might receive. Minimum $1,000. (3)This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 11/1/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.

Our pick for

Undergraduate nursing students with a qualified co-signer

You may save money with a private nursing school loan if you have a co-signer with good credit.

ISL Private Student Loan

5.0

Min. credit score

660

Fixed APR

3.95-8.01%

Variable APR

6.54-11.08%

Key factsBest for low-interest loans with consumer-friendly features, like a generous forbearance policy.

Pros

Forbearance of 24 months is longer than many lenders offer.
No late fees.

Cons

Only offers 2 loan terms.

Qualifications

Typical credit score of approved borrowers or co-signers: 670.
Minimum income: No minimum income.
Loan amounts: $1,001 or $2,001, based on residency and school location, up to cost of attendance minus other aid received.

Available Term Lengths10 or 15

Our pick for

International nursing students

Many private lenders offer student loans to international students with a U.S. or permanent resident co-signer. Fewer options are available if you don’t have an eligible co-signer.

MPOWER Private Student Loan

4.0

Min. credit score

None

Fixed APR

12.99-15.99%

Variable APR

N/A

Key facts

International nursing students and students with Deferred Action for Childhood Arrivals, or DACA, status can borrow from MPOWER without a co-signer.

Pros

Offers a hard-to-find option: non-co-signed student loans for international and DACA students.
Borrowers are assigned a dedicated student loan advisor.
Borrowers can request forbearance of up to 24 months, which is longer than many lenders offer.

Cons

Payment required while in school.
Offers only one repayment term: 10 years.

Qualifications

MPOWER considers future income potential but does not factor in credit scores.
Loan amounts: Minimum $2,001. Maximum loan is $100,000, limited to $50,000 per academic period.

Available Term Lengths10 years

DisclaimerNote: Our loan does not support Canadian citizens studying in Canada. Canadian Permanent Residents and U.S. citizens are considered “international” when studying in Canada. International students, U.S. citizens, U.S. permanent residents, and DACA recipients in the U.S. or Canada. ‘International’ means you are a non-U.S. citizen or U.S. non-permanent resident studying at a university in the U.S., or you are a non-Canadian citizen or Canadian non-permanent resident studying at a university in Canada. ‘DACA’ means the Deferred Action For Childhood Arrivals Program initiated by the U.S. Department of Homeland Security in 2012. In order to qualify as a DACA Student, you must have applied for, and been granted, DACA status by USCIS. As a graduate student, you can borrow with a fixed interest rate of 12.99% (13.98% APR¹). This is the maximum rate and will not increase. However, MPOWER offers borrowers a way to qualify for a discount; a 0.25% rate discount is possible by making your loan payments through automatic withdrawal from your bank account. If you qualify for this discount, your rate will be 12.74% (13.72% APR²). ¹[International graduate student with regular interest rate] The APR is calculated using the following assumptions: A loan is approved in the amount of US$10,000 with a 5% origination fee of US$500. The student will start making payments 45 days after loan disbursement. Payments will be interest only until graduation, plus an additional 6-month grace period. The remaining months of repayment are calculated using a 120-month amortization schedule. All payments are made on-time, a forbearance is never utilized, and there is no pre-payment of any principal. At an APR of 13.98%, the monthly payment amount is US$113.66 for the first 30 months. For the next 120 months, the monthly payment amount is about $156.71. ²[International graduate student with discounted interest rate] The APRs with discounts are calculated using the following assumptions: A loan is approved in the amount of $10,000 with a 5% origination fee of US$500. The student will start making payments 45 days after loan disbursement. The borrower signs up for automatic debit immediately after the loan is disbursed and remains on it for the life of the loan, which reduces the rate by 0.25%. At an APR of 13.72%, the monthly payment is US$111.47 for the first 30 months. For the last 120 payments, the monthly amount is US$155.17. Undergraduate Students in the U.S. or Canada As an undergraduate student, you can borrow with a fixed interest rate of 13.99% (15.01% APR³). This is the maximum rate and will never increase. However, MPOWER offers borrowers a way to qualify for a discount; a 0.25% rate discount is possible by making your loan payments through automatic withdrawal from your bank account. If you qualify for this discount, your rate will be 13.74% (14.75% APR⁴). ³[International undergraduate student with regular interest rate] The APR is calculated using the following assumptions: A loan is approved in the amount of $10,000 with a 5% origination fee of $500. The student will start making payments 45 days after loan disbursement. Payments will be interest only until graduation plus an additional 6-month grace period. The remaining months of repayment are calculated using a 120-month amortization schedule. All payments are made on-time, a forbearance is never utilized, and there is no pre-payment of any principal. At an APR of 15.01%, the monthly payment amount is $122.41 for the first 30 months. For the next 120 months, the monthly payment amount is $162.97. ⁴[International undergraduate student with discounted interest rate] The APRs with discounts are calculated using the following assumptions: A loan is approved in the amount of US$10,000 with a 5% origination fee of US$500. The student will start making payments 45 days after loan disbursement. The borrower signs up for automatic debit immediately after the loan is disbursed and remains on it for the life of the loan, which reduces the rate by 0.25%. A forbearance is never utilized and there is no prepayment of any principal. At an APR of 14.75%, the monthly payment is US$120.22 for the first 30 payments. For the last 120 payments, the monthly amount is US$161.39.