Best Nursing Student Loans of 2026
Subsidized and unsubsidized federal loans are the first choice for many nursing students. You don’t need a good credit score to qualify, you can defer repayment while you’re in school, you may be eligible for federal loan forgiveness and income-based repayment options are available.
However, lending updates that went into effect in July 2026 mean you may not be able to cover the entire cost of your education with federal loans. The federal Graduate PLUS program has been eliminated, so grad students can’t necessarily use federal loans to cover the full cost of attendance.
To receive any type of federal loan, you must be enrolled at least half-time at a school that participates in the direct loan program. Generally, you must also be enrolled in a program that leads to a degree or certificate awarded by the school.
In addition to federal student loans, income-eligible students can access federal Pell Grants, up to $7,395. The new Workforce Pell program covers students enrolled in short-term, workforce-oriented training programs (like those for certified nursing assistants) that award an industry-recognized degree or certificate. And the Health Resources and Service Administration offers scholarships and student loan repayment help for those who commit to working in underserved areas following graduation.
There are several types of direct federal loans that can fund a nursing education:
- Unsubsidized undergraduate loans
- Subsidized undergraduate loans in which the government pays the interest while you are in school at least half time and for the first six months after you leave school (available to those who meet income eligibility guidelines)
- Unsubsidized graduate loans
- PLUS loans for eligible parents of dependent students
Here are the direct federal borrowing limits that begin on July 1, 2026:
| Year | Dependent Students | Independent Students |
|---|---|---|
| First-Year Undergraduate | $5,500 | $9,500 |
| Second-Year Undergraduate | $6,500 | $10,500 |
| Third-Year and Beyond | $7,500 | $12,500 |
| Undergraduate Aggregate Limit | $31,000 | $57,500 |
| Graduate Annual Limit | N/A | $20,500 |
| Professional Graduate Annual Limit | N/A | $50,000 |
| Graduate Aggregate Limit | N/A | $100,000 |
| Professional Graduate Aggregate Limit | N/A | $200,000 |
Note that limits for subsidized loans are lower. For example, no more than $23,000 of the $57,500 maximum undergrad aggregate can be subsidized loans. Parents of dependent students can borrow additional money with federal parent PLUS loans. (Dependent students whose parents can’t borrow with PLUS loans may qualify for higher limits.) Starting July 1, parent PLUS borrowing will be limited to $20,000 per year to an aggregate maximum of $65,000.
The Nursing Student Loan, or NSL, is a federal loan for students enrolled at least half time in a diploma, associate, baccalaureate or graduate program to obtain a registered nurse designation. The NSL is a need-based loan for disadvantaged students whose cost of attendance isn’t covered by other federal aid, grants or scholarships.
Private student loans can help bridge the gap between the total cost of attendance in a nursing program and the maximum federal funding allowed.
Here are some key differences between private student loans and federal student loans:
- Private loans may not have annual or aggregate loan limits. Your maximum borrowing is determined by the lender’s policy, your school’s cost of attendance and your ability to repay what you borrow.
- While there is no credit requirement for most federal student loans, private lenders set minimum credit standards.
- Interest rates and loan terms are not set by the government. That means you’ll want to compare quotes from competing lenders. It also means that highly qualified borrowers have access to better rates. These can even be lower than those offered for federal loans.
- Private student loans don’t necessarily offer features like loan forgiveness or income-driven repayment plans.
- You may increase your chance of loan approval or get better terms by adding a cosigner.
When comparing private loan options, look for lenders that allow risk-free prequalification with no hard credit inquiry. This allows you to compare multiple lenders and learn how much you can borrow and the terms you’ll be offered.
- You must be enrolled in an income-driven or standard repayment plan.
- You must work for an eligible employer, like a government agency or qualifying nonprofit.
- You must make 120 payments over at least 10 years.
Another option is the Nurse Corps Loan Repayment Program, administered by the Health Resources and Services Administration. This program pays up to 85% of your nursing education debt balance for:
- Registered nurses
- Advanced practice registered nurses, like nurse practitioners
- Nurse faculty
If you receive an award, you must work two years in either:
- An eligible health care facility with a critical shortage of nurses
- An eligible nursing school as nurse faculty
The program pays 60% of your total outstanding, qualifying, nursing education loans over the two years while you work in an eligible facility. After your two-year service contract, you may be eligible for a third year and an additional 25% of your loans.
Lenders consider the applicant’s credit score, repayment history, income and other factors.
If you are highly qualified, you might get better interest rates with private student loans than with a federal loan. And you may find better terms if you lower the risk to the lender by bringing in a cosigner or co-borrower.
Expect to need a credit score of at least 650 for mainstream private student loans. Nonprime personal loan providers may be willing to finance you with lower scores, but make sure you can afford the payments and that there are no better options available.
Federal loans for nursing students work the same way they work for other students:
- You complete the Free Application for Federal Student Aid when you apply to your school.
- You can borrow up to your cost of attendance, subject to maximum annual and aggregate loan amounts established by federal law.
- Federal loans are disbursed in installments. Money for tuition, fees and student housing costs are sent directly to your school. Other funds are disbursed to you.
- You may choose to defer repayment while still in school, and you’ll have a grace period following graduation.
- You may be able to enroll in an income-based repayment plan.
Private student loan guidelines, on the other hand, are set by individual lenders and can vary widely. Like federal loans, private student loan proceeds are generally disbursed to your school, with leftovers going to you.
