Financial Aid & Scholarships

Federal Nursing Loans

These loans are available at a lower rate than the typical unsubsidized Stafford Loans offered to graduate students. Our Office of Financial aid has detailed information about the conditions and how to apply: https://www.plu.edu/financial-aid/types-aid/loans/nursing-loan/

Unsubsidized Stafford Loans (Direct Loans)

Although payments are deferred while you are enrolled at least half-time, unsubsidized loans accumulate interest while you are in school. If you can, it is recommended that you try to pay the interest on these loans while you are in school.

Loan amount: LOAN of $20,500 per year

Deadline: Applicants are considered for this loan when their FAFSA application is being processed. The loan is processed by PLU and disbursed to pay your tuition.

Number of awards: n/a

Criteria: You do not need to demonstrate need to qualify for these loans. Detailed information is available at the Federal student aid website.

Terms of the loan: This loan accumulates interest while you are in school, and when you are in your forbearance “grace period.” It is a loan, so it must be paid back with interest. When you fill out the FAFSA, there is a tool that estimates what your student loan repayment amounts will look like. Detailed information, including current interest rates,  is available at the Federal student aid website.

How to apply:

• Fill out the Free Application For Student Aid – Please note, the FAFSA must be filled out each year that you are enrolled.
• Once you receive your PLU award notification, you must log onto PLU’s Secure Area of Banner Web, Financial Aid Services, to Accept or Decline the loan.
• If you choose to accept the loan, you must also “Sign In” to studentloans.gov to complete the required Entrance Counseling and Master Promissory Note.

PLUS Loan (Direct Loans)

Although payments are deferred while you are enrolled at least half-time, unsubsidized loans accumulate interest while you are in school. If you can, it is recommended that you try to pay the interest on these loans while you are in school. These loans differ from Unsubsidized Stafford Loans in that they have a higher interest rate and require a credit check.

Loan amount: LOAN to meet any unmet need up to the total estimated cost of attendance for the program.

Deadline: Applicants are considered for this loan when their FAFSA application is being processed. The loan is processed by PLU and disbursed to pay your tuition.

Number of awards: n/a

Criteria: You do not need to demonstrate need to qualify for these loans. Unlike the Stafford loan, borrowers must pass a credit check. Detailed information is available at the Federal student aid website.

Terms of the loan: This loan accumulates interest while you are in school, and when you are in your forbearance “grace period.” It is a loan, so it must be paid back with interest. When you fill out the FAFSA, there is a tool that estimates what your student loan repayment amounts will look like. Detailed information, including current interest rates,  is available at the Federal student aid website.

How to apply:

• Fill out the Free Application For Student Aid – Please note, the FAFSA must be filled out each year that you are enrolled.
• Once you receive your PLU award notification, you must log onto PLU’s Secure Area of Banner Web, Financial Aid Services, to Accept or Decline the loan.
• If you choose to accept the loan, you must also “Sign In” to studentloans.gov to complete the required Entrance Counseling and Master Promissory Note.