Nursing Loan | University of Portland

Nursing Loan

The Nursing Loan is a need-based loan with the University of Portland acting as the lender.

The loan is subsidized (interest does not accrue) while the student is in school and during the 9-month grace period. The interest rate is 5% and there is no origination fee.

Application Procedures

To be considered for a Nursing Loan, students must:

  • File a FAFSA;
  • Complete verification;
  • Accept the loan via Self Serve Banner;
  • Complete a Nursing Loan Confirmation Form; and
  • Sign a Master Promissory Note (MPN). ECSI (the servicer for your Nursing Student Loan) will email you 3-5 business days after you have completed the confirmation form with further instructions.

Selection Criteria

To qualify for a Nursing Loan, students must:

  • Meet all eligibility requirements to receive Title IV Aid;
  • Be a nursing student enrolled at least half time (6 credits undergraduate; 5 credits graduate); and
  • Demonstrate exceptional financial need.

Award Amounts

  • Award amounts vary based on availability of funds and financial need.

Note: Nursing Loans are not reflected in the National Student Loan Data System. If you are consolidating your federal student loans, you will need to manually edit your application to include the Nursing Loan as it will not be automatically included with your federal Direct student loans.