Nursing Student Loans

 

To increase educational opportunities by providing long-term, low-interest loans to students in need of financial assistance and in pursuit of a course of study in an approved nursing program.

General information about this opportunity
Last Known Status
Active
Program Number
93.364
Federal Agency/Office
Health Resources and Services Administration, Department of Health and Human Services
Type(s) of Assistance Offered
E - Direct Loans
Program Accomplishments
Not applicable.
Authorization
Public Health Service Act, Section 835-842, 42 U.S.C. 297a-i, as amended; Health Professions Education Partnership Act of 1998, Public Law 105-392.
Who is eligible to apply/benefit from this assistance?
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. Federally Recognized Indian Tribal Government and Native American Organizations may apply if they are otherwise eligible.
Beneficiary Eligibility
The Nursing Student Loan Program provides financial assistance to nursing students who are citizens, nationals or lawful permanent residents of the United States or the District of Columbia, the Commonwealth of Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands, Guam, American Samoa, the Republic of Palau, the Republic of the Marshall Islands, and the Federated States of Micronesia.
Credentials/Documentation
New applications for this program can be acquired from the Division of Health Careers and Financial Support by calling (301) 443-1173. Annual operating reports serve as the new year application for current NSL recipient institutions.
What is the process for applying and being award this assistance?
Pre-Application Procedure
Preapplication coordination is not applicable.
Application Procedure
2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Students should apply at financial aid office of school of their choice for assistance in applying for a loan. The school then tabulates requests for financial aid and awards loans based on needs of students and available funds. Schools can obtain new applications for this program from the Division of Health Careers and Financial Support by calling (301) 443-1173. Annual operating reports serve as the new year application for current NSL recipient institutions.
Award Procedure
Notification of award is made in writing (electronic) through a Notice of Award. 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 the headquarters or regional location, as appropriate for application deadlines
Approval/Disapproval Decision Time
Approximately 120 - 180 days after receipt of applications.
Appeals
Not applicable.
Renewals
Applications are only required for new schools. Annual Operating Reports are required for renewals.
How are proposals selected?
Applications will be reviewed for completeness and accuracy, and to determine if applicant schools meet minimum program requirements.
How may assistance be used?
The maximum amount a student may borrow is $3,300 for an academic year for each of the first two years, $5,200 for each of the final two years of a baccalaureate or graduate degree program, or the amount of the student's financial need, whichever is less. The total of all Nursing Student Loans to any student is limited to $17,000. Loans will be made to full and half-time nursing students enrolled after June 30, 2000 who are citizens, nationals, lawful permanent residents of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands, Guam, American Samoa, 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 loans.
What are the requirements after being awarded this opportunity?
Reporting
Not applicable.
Auditing
Not applicable.
Records
Recipients are required to maintain grant accounting records 3 years after the date they submit the Annual Operating Report (AOR). If any litigation, claim, negotiation, audit or other action involving the award has been started before the expiration of the 3 year period, the records shall be retained until completion of the action and resolution of all issues which arise from it, or until the end of the regular 3 year period, whichever is later.
Other Assistance Considerations
Formula and Matching Requirements
Statutory formula is not applicable to this assistance listing.

Matching is voluntary. 11%. Under the Federal Capital Contribution method, schools participating in loan programs must match the federal contribution with an amount not less than one-ninth of the funds drawn down.

MOE requirements are not applicable to this assistance listing.
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. Recipient schools draw down funds, as necessary, from the Payment Management System (PMS), the centralized web based payment system for HHS awards. recipients draw down funds, as necessary, from the Payment Management System (PMS). PMS is the centralized web based payment system for HHS awards.
Who do I contact about this opportunity?
Regional or Local Office
None/Not specified.
Headquarters Office
Christopher Grosso , Division of Health Careers and Financial Support, Bureau of Health Workforce, Health Resources and Services Administration, Department of Health and Human Services
5600 Fishers Lane, Room 15N58B
Rockville, MD 20857 US
cgrosso@hrsa.gov
Phone: (301) 443-1173
Website Address
http://bhw.hrsa.gov/scholarshipsloans/index.html
Financial Information
Account Identification
75-0350-0-1-550
Obligations
(Direct Loans) FY 18$9,342,281.00; FY 19 est $7,773,916.00; FY 20 Estimate Not Available FY 17$9,342,281.00; FY 16$5,055,338.00; -
Range and Average of Financial Assistance
Range: $6,501 - $399,602 (FY17); Average: $203,093 per institution for FY 17. Range: $15,976 - $578,338 (FY18); Average: $204,577 per institution for FY 18 Range: $1,000 - $1,185,000 (FY19) est Average: $311,868 per institution for FY19 est Est FY19 and FY20 range: TBD based on returned funds and # of applicants
Regulations, Guidelines and Literature
All administrative and audit requirements and the cost principles that govern Federal monies associated with this activity will be subject to the Uniform Guidance 2 CFR 200 as codified by HHS at 45 CFR 75. HRSA awards are also subject to the requirements of the HHS Grants Policy Statement (HHS GPS) that are applicable based on recipient type and purpose of award. The HHS GPS is available at http://www.hrsa.gov/grants/hhsgrantspolicy.pdf.
Examples of Funded Projects
Not applicable.

 


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