Health Professional Nursing Student Loans
Professional and Practical Nursing Student Loans provide financial aid to students pursuing careers as licensed practical nurses or professional nurses in underserved areas of Missouri.
Who is Eligible to Apply
To be eligible, the applicant must be a Missouri resident attending a Missouri institution seeking education leading to licensure as a practical or professional nurse. Missouri residents are those who lived in this state for more than one year for any purpose other than to attend an educational institution. Must be enrolled or accepted full-time (with the exception of Doctoral students seeking Ph.D., D.N.P. or Ed.D.) and the nursing program must have an 80% pass rate. Pass rates can be obtained from the State Board of Nursing website. If selected to participate, students must maintain a minimum of a 2.5 grade point average.
Maximum loan amounts
- $2,500 for LPN students
- $5,000 for professional nursing students (Diploma, ADN, BSN, MSN, APN, DNP)
Repayment of Loans
Nursing Student Loan recipients can either earn forgiveness of their loans through a service obligation or can repay the loans through cash repayment. All funds received by nursing students accrue simple interest at the rate of 9.5 percent.
Forgiveness is based upon the number of loans received. Example: one loan equates to one year of service; two loans equates to two years of service, etc based on full-time qualifying employment. Qualifying employment is considered as full-time, direct patient care at any hospital in the State of Missouri or any facility located in an area of need which is also referred to as a Health Professional Shortage Area (HPSA).
Obtain an application
- Download a Nurse Student Loan application.
Applications are accepted throughout the year. However, applications received between January 1 and April 30 of each year are considered for funding. Funding selections are made in May/June of every year.
Current Nurse Student Loan Program participants must submit a new application each year.