Nursing Student Loans (93.364)
Program
93.364 Nursing Student Loans
Federal Agency
HEALTH RESOURCES AND SERVICES ADMINISTRATION, DEPARTMENT OF HEALTH AND HUMAN SERVICES
Authorization
Public Health Service Act, Title VIII, Section 835-842, 42 U.S.C. 297a-i, as amended; Health Professions Education Partnership Act of 1998, Public Law 105-392.
Program Number
93.364
Last Known Status
Active
Objectives
To assist students in need of financial assistance to pursue a course of study in professional nursing education by providing long-term, low-interest loans, currently at the rate of 5 percent.
Types of Assistance
Direct Loans.
Uses and Use Restrictions
Loans have a maximum of $2,500 for an academic year, $4,000 for each of the final 2 years, or the amount of the student's financial need, whichever is less. The total is limited to $13,000. Loans to full and half-time nursing students who are citizens, nationals, or a lawful permanent residents of the United States or the District of Columbia, the Commonwealths of Puerto Rico or the Mariana Islands, the Virgin Islands, Guam, the American Samoa, the Trust Territory of the Pacific Islands, the Republic of Palau, the Republic of the Marshall Islands, and the Federated States of Micronesia. Funds are made to schools of nursing to capitalize loan funds.
Eligibility Requirements
Applicant Eligibility
All accredited public and nonprofit private schools of nursing that prepare students for practice as registered or graduate nurses, and that do not discriminate against students because of race, color, origin, sex, or handicapping conditions, are eligible to apply for funds to be disbursed to qualified nursing students.
Beneficiary Eligibility
Nursing students who are citizens, nationals or lawful permanent residents of the United States or the District of Columbia, the Commonwealths of Puerto Rico or the Mariana Islands, the Virgin Islands, Guam, the American Samoa or the Trust Territory of the Pacific Islands, the Republic of Palau, the Republic of the Marshall Islands, and the Federated State of Micronesia.
Credentials/Documentation
None.
Application and Award Process
Preapplication Coordination
Consultation and technical assistance are provided to nursing education institutions wishing to share in loan funds. Program information may be obtained from DHHS Central Office. This program is excluded from coverage under E.O. 12372. This program is subject to the provisions of OMB Circular No. A-110.
Application Procedure
Students apply at student aid office of school of their choice for assistance in applying for a loan. The school then tabulates requests for funds based on estimated needs of students. Application forms are distributed to eligible schools and must be returned to the Central office by date specified in application materials. This program is subject to the provisions of OMB Circular No. A-110.
Award Procedure
The Notice of Award is sent to the School's Contact Person notifying the school of the amount of Federal funds allocated for loans prior to the beginning of the academic year in which the award is to be utilized. Student is notified by student aid office of approval or disapproval at times determined by schools.
Deadlines
Contact Headquarters Office for application deadlines.
Range of Approval/Disapproval Time
Appeals
Not applicable.
Renewals
Applications are required for new schools.
Assistance Considerations
Formula and Matching Requirements
Schools participating in loan programs must match the Federal contribution with an amount not less than one-ninth of the Federal allotment.
Length and Time Phasing of Assistance
Length and time of assistance depends upon the time required by the student to complete the necessary course of study leading to a degree and is subject to availability of funds.
Post Assistance Requirements
Reports
"Annual Operating Report" through electronic submission at http://www.hhshrsa.com.
Audits
In accordance with the provisions of OMB Circular No. A-133 (Revised, June 24, 1997), "Audits of States, Local Governments, and Nonprofit Organizations," nonfederal entities that expend financial assistance of $300,000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Nonfederal entities that expend less than $300,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in Circular No. A-133. In addition, grants and cooperative agreements are subject to inspection and audits by DHHS and other Federal government officials.
Records
Financial records must be kept until such time as agreed upon with the Secretary of DHHS as specified in 42 CFR 57.318.
Program Accomplishments
In fiscal year 2002, awards were made to 113 nursing schools. It is estimated that awards will be made to 115 nursing schools in fiscal year 2003 and 115 nursing schools in fiscal year 2004.
Financial Information
Account Identification
75-0350-0-1-550.
Obligations
(Loans) FY 02 $4,548,000; FY 03 est $5,400,000, and FY 04 est $5,500,000. (Note: Although no annual appropriations may be enacted, this program operates using revolving funds).
Range and Average of Financial Assistance
$1,200 to $8,900; $1,920.
Regulations, Guidelines and Literature
42 CFR 57. "A Guide for Repayment and Deferment Provisions of Nursing Student Loans," Nursing Student Loan Program Fact Sheet.
Related Programs
84.038, Federal Perkins Loan Program_Federal Capital Contributions; 84.063, Federal Pell Grant Program.
Information Contacts
Regional or Local Office
Not applicable.
Headquarters Office
Program Contact: Mary Farrington, Division of Health Careers Diversity and Development, Bureau of Health Professions, Health Resources and Services Administration, Public Health Service, Department of Health and Human Services, Parklawn Building, Room 8-34, 5600 Fishers Lane, Rockville, MD 20857. Telephone: (301) 443-4776. Use same number for FTS.
Web Site Address
Examples of Funded Projects
(1) Long-term, low-interest loans made to nursing students; and (2) funds provided to schools of nursing to capitalize loan funds.
Criteria for Selecting Proposals
Applications will be reviewed for completeness and accuracy, and to determine if applicant schools meet minimum program requirements.
