Where to Find the Best Nursing School Loans

If you’re thinking about becoming a nurse, you’ve picked a great time to enter the field.Demand for nurses remains strong, and the profession can offer meaningful work along with opportunities for advancement and specialization.The Bureau of Labor Statistics estimates that the nursing field will grow by 5% over the next 10 years, which is faster than average.The median annual pay for nurses has also risen to over $93,600.

That’s great news.But nursing school can be expensive, especially if you’re considering an advanced nursing degree.Read on to learn how to pay for nursing school, reduce borrowing where possible and understand how student loans fit into the bigger picture.Ways to reduce nursing school costs before borrowing Depending on your situation, you may need to take out student loans for nursing school to cover tuition costs and enrollment.

But borrowing isn’t the only way to think about paying for nursing school.Depending on your career path and program, there may be ways to reduce costs and limit how much you need to borrow.Look for scholarships, grants and financial aid opportunities The less you borrow now, the more flexibility you’ll have later when choosing a nursing specialty, employer or repayment strategy.Start with the Free Application for Federal Student Aid (FAFSA) to determine your eligibility for aid.

You may also want to check with your nursing school, healthcare employer and nursing organizations for scholarships or funding opportunities, especially for students entering high-need areas or underserved communities.Explore employer tuition reimbursement and hospital sponsorships Many hospitals and healthcare systems offer tuition reimbursement or sponsorship programs for nursing students, especially for hard-to-fill nursing roles.In some cases, employers may help pay for an associate degree in nursing (ADN), bachelor of science in nursing (BSN) or advanced nursing degree in exchange for a work commitment after graduation.If you’re already working in healthcare (even in an entry-level role), ask about tuition assistance before borrowing.

Some employers reimburse coursework, pay a set amount per semester or help cover RN-to-BSN program costs.Consider lower-cost RN-to-BSN pathways Not every nurse has to start with the most expensive degree path.Some students begin with an associate degree at a community college, begin working as an RN and later complete an employer-assisted RN-to-BSN program while earning income.For some nurses, this pathway can significantly reduce borrowing compared to paying for a four-year nursing degree upfront.

Nursing school loans to consider If you still need to borrow after exploring ways to reduce costs, there are three main types of loans to consider: HRSA nursing loans, federal student loans and private student loans.Let’s take a closer look at how each works and what they may have to offer depending on your goals and career path.1.HRSA nursing loans and Nurse Corps programs The Health Resources and Services Administration (HRSA) is the organization that oversees the Nurse Corps Loan Repayment Program, which helps pay off up to 85% of student debt for nurses who work in high-need areas.

For nurses planning to work in underserved communities or high-need healthcare settings, Nurse Corps may significantly reduce the overall cost of nursing school after graduation.But the HRSA also offers a couple of low-cost nursing student loans that may be worth looking into.Nursing Student Loans (NSL) The NSL program is intended to provide low-cost student loans to disadvantaged nursing students.To qualify for this program, you’ll need to attend a participating school and provide proof of financial need.

Nursing diplomas as well as associate, bachelor’s and graduate degrees in nursing are all eligible for NSL.Currently, NSL comes with an interest rate of 5% and a nine-month, 0%-interest grace period.Nurse Faculty Loan Program (NFLP) The HRSA wants to see more nurses pursuing graduate degrees in nursing to become qualified nurse faculty.That’s why it’s partnered with schools to provide graduate nursing students with affordable nursing school loans with a low-interest rate of 3%.

What’s really fantastic about this program, though, is that it offers partial loan forgiveness of up to 85% of the loan amount over four years.To qualify for the loan forgiveness, nurses need to obtain full-time employment as a teacher or instructor at an accredited nursing school or health facility after graduation.2.Federal student loans If neither of the HRSA nursing school loans seems appealing to you or you don’t qualify for them, federal student loans may be your next-best option.

Federal student aid can help you score loans that qualify for student loan forgiveness programs.Direct Subsidized Loans If you have financial need, you may be able to qualify for a Direct Subsidized Loan.After you’ve sent in the necessary paperwork, the nursing school you’re attending will determine the amount you can borrow.One of the biggest perks of Direct Subsidized Loans is that the federal government pays the interest while you’re in school, during your grace period and during certain deferment periods.

If you qualify, this can be one of the most affordable borrowing options available.Direct Unsubsidized Loans Direct Unsubsidized Loans are available to undergraduate and graduate nursing students and don’t require proof of financial need.They come with the same interest rates as their subsidized counterparts, but the federal government doesn’t pay the interest on these loans when students are in school or in their grace period, nor when loans are in deferment.These loans offer repayment flexibility through income-driven repayment (IDR) plans and may qualify for programs like Public Service Loan Forgiveness (PSLF) for nurses working for nonprofit or government employers.

PLUS Loans Parent PLUS Loans allow parents to help pay for the cost of a child’s nursing degree, while Grad PLUS Loans have historically helped graduate nursing students cover remaining costs after reaching federal borrowing limits.Beginning July 1, 2026, new graduate and professional borrowers must rely on Direct Unsubsidized Loans, as Grad PLUS Loans are phased out for new borrowers.However, borrowers already enrolled in eligible graduate nursing programs before July 1, 2026 may generally continue accessing Grad PLUS Loans under grandfathering rules through program completion or June 30, 2029, whichever comes first.Because Parent PLUS Loans place repayment responsibility on parents and offer less repayment flexibility, they’re generally not the ideal way to pay for nursing school.

Related: How Limiting Grad PLUS Loans Could Raise Salaries (and Prices Too) 3.Private student loans You can pay for your nursing degree with private student loans as well.However, private loans should generally be viewed as a last resort.Unlike federal loans, private student loans don’t qualify for forgiveness programs or income-driven repayment plans, and repayment flexibility may be more limited.

That said, borrowers with strong credit or a cosigner may be able to qualify for competitive interest rates.If you choose private student loans, compare lenders carefully and only borrow what you truly need.Related: Best Private Student Loan Offers Repayment and forgiveness programs for nurses How you choose to repay nursing school loans often depends on where you work, your specialty and your long-term career goals.Some nurses may qualify for forgiveness or repayment assistance programs, while others may focus on paying debt down quickly.

For nurses working at nonprofit hospitals or public healthcare employers, Public Service Loan Forgiveness (PSLF) may be worth considering.PSLF allows eligible borrowers with federal student loans to receive tax-free forgiveness after making 120 qualifying payments while working for an eligible employer.If you already plan to work for a nonprofit hospital or public health system, prioritizing federal student loans may help preserve this option.Depending on where you work, you may also qualify for repayment assistance beyond PSLF.

Programs like Nurse Corps Loan Repayment, employer-sponsored assistance and some state workforce programs can help reduce student debt for nurses working in high-need settings or underserved communities.The best repayment strategy isn’t one-size-fits-all.A nurse pursuing a nonprofit hospital role, travel nursing, advanced practice specialty or nurse educator position may each face a very different financial picture.That’s why it’s important to think about repayment before borrowing, not just after graduation.

Book a consult with one of our Student Loan Advisors to help evaluate your borrowing needs versus repayment and forgiveness strategies based on your career goals and expected future income.