Loans

The applicant must meet all of the following:

• Full-Time Student (enrolled or accepted) in an eligible nursing program in a Missouri institution leading to one of the following degrees/licensures:
  • Licensed Practical Nurse (LPN);
  • Registered Nurse (RN);
  • Diploma in Nursing (DN);
  • Associate Degree in Nursing (ADN);
  • Bachelor of Science Degree in Nursing (BSN);
• Enrolled or Accepted in an Institution within Missouri approved by the Missouri Nursing Board.
• A Missouri resident.
• Under No Conflicting Service Obligation with the exception of service in the National Guard or military reserve.

The NSL Program recipients earn forgiveness on their loans through a service obligation. This means you must work in a position requiring your licensure and within your scope of practice in a HPSA. Your service obligation required for forgiveness is based upon the number of loans received.  One loan equates to one year of service; two loans equates to two years of service, etc., which is based on full-time qualifying employment.

Visit the website here to learn more about the loan and to find the application.

Do I have to repay? Yes
Classification : Federal Loan

Direct Plus Loans are available to assist qualified parents to borrow in order to pay the education expenses of a dependent student. Plus Loans are limited to the difference between the student’s total cost of education and other financial aid the student may receive. This is a loan, and repayment is required.

Do I have to repay? Yes. (Your parents have to repay.)
Classification : Federal Loan

The Direct Loan program provides low interest, long-term loans to students and their parents to help meet educational expenses. Direct Subsidized Stafford Loans are awarded on the basis of financial need. Direct Unsubsidized Stafford Loans are designed to provide financial aid to students who do not demonstrate need for the Subsidized Stafford Loan. Payment on both the subsidized and unsubsidized loan begins six months after the student completes or leaves his/her educational program. Students must first file a FAFSA (Free Application for Federal Student Aid) to apply for student loans. Any student who borrows student loan funds must complete a Master Promissory Note and entrance loan counseling as conditions of receiving student loan monies. Students must also complete exit counseling up graduating, withdrawing, or dropping below half time status. Master Promissory Notes, Entrance Counseling, and Exit Counseling must be completed at: www.studentloans.gov. This is a loan, and repayment is required.

Do I have to repay? Yes.
Classification : Federal Loan