7 Best Nursing Student Loans of February 2023
Federal student loans are best for nursing students in undergraduate and graduate school programs.
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If you need nursing student loans, exhaust your federal options before turning to private lenders. Federal student loans offer benefits like Public Service Loan Forgiveness, which many nurses may be able to take advantage of post-graduation.
Private loans for nursing students are available, and these can make sense if you’ve maxed out your federal aid. Graduate students with good credit may also want to consider a private nursing student loan if they can qualify for a low interest rate.
Here are our picks for the best student loans for nursing school, as well as information on how to weigh these options.
If you need nursing student loans, exhaust your federal options before turning to private lenders. Federal student loans offer benefits like Public Service Loan Forgiveness, which many nurses may be able to take advantage of post-graduation.
Private loans for nursing students are available, and these can make sense if you’ve maxed out your federal aid. Graduate students with good credit may also want to consider a private nursing student loan if they can qualify for a low interest rate.
Here are our picks for the best student loans for nursing school, as well as information on how to weigh these options.
Best Nursing Student Loans
Lender | NerdWallet rating | Min. credit score | Fixed APR | Variable APR | Learn more |
---|---|---|---|---|---|
![]() Federal Subsidized/Unsubsidized Loan | Best for All nursing students as a first choice | None | 4.99- | N/A | Read review |
![]() Federal Grad PLUS Loan | Best for Nurses pursuing advanced degrees | None | 7.54- | N/A | Read review |
![]() Sallie Mae Private Student Loan Check rate on Sallie Mae's website | Best for Graduate nursing students with strong finances | Mid- | 4.50- | 5.37- | Check rate on Sallie Mae's website |
![]() MPOWER Private Student Loan Check rate on MPOWER's website | Best for International nursing students | N/A | 13.72- | N/A | Check rate on MPOWER's website |
![]() A.M. Money Private Student Loan | Best for Part-time nursing students | None | 7.53- | N/A | Read review |
![]() Avenify Income Share Agreement | Best for Nursing students without a co-signer | None | N/A | N/A | Read review |
![]() RISLA Private Student Loan | Best for Rhode Island residents | 680 | 4.99- | N/A | Read review |
Our pick for
All nursing students as a first choice
You may be able to borrow subsidized or unsubsidized federal loans for an undergraduate nursing degree or certificate program. Unsubsidized loans are available for graduate programs.
Federal Subsidized/Unsubsidized Loan

Min. credit score
NoneFixed APR
4.99-Variable APR
N/AOur pick for
Nurses pursuing advanced degrees
Graduate students can take out up to $20,500 annually in unsubsidized loans. You can use graduate PLUS loans to fill any remaining tuition gap.
Federal Grad PLUS Loan

Min. credit score
NoneFixed APR
7.54-Variable APR
N/AOur pick for
Graduate nursing students with strong finances
You may save money with a private nursing school loan if you have good credit. These lenders offer loans specifically for advanced nursing degrees, but you can borrow any graduate school loan.

on Sallie Mae's website
Sallie Mae Private Student Loan

Min. credit score
Mid-Fixed APR
4.50-Variable APR
5.37-on Sallie Mae's website
Our pick for
International nursing students
Many private lenders offer student loans to international students with a U.S. or permanent resident co-signer. Fewer options are available if you don’t have an eligible co-signer.

on MPOWER's website
MPOWER Private Student Loan

Min. credit score
N/AFixed APR
13.72-Variable APR
N/Aon MPOWER's website
Our pick for
Part-time nursing students
A.M. Money is one of the few lenders to offer loans if you’re attending school less than half time — for example, if you’re in a part-time CNA program.
A.M. Money Private Student Loan

Min. credit score
NoneFixed APR
7.53-Variable APR
N/AOur pick for
Nursing students without a co-signer
Avenify Income Share Agreement

Min. credit score
NoneFixed APR
N/AVariable APR
N/AOur pick for
Rhode Island residents
Nursing students from Rhode Island or attending school there may benefit from RISLA’s Nursing Reward Program post-graduation.
RISLA Private Student Loan

Min. credit score
680Fixed APR
4.99-Variable APR
N/AFederal student aid for nurses
Before turning to student loans, nursing students should exhaust free aid options like grants and scholarships, as well as work-study jobs.
For example, the current maximum Pell Grant of $6,195 would cover the average cost of tuition and fees at a two-year public college — $3,730, according to the College Board — if you want an Associate Degree Nursing, or ADN. It may be enough for much or all of a short-term LPN or CNA diploma program as well.
If you have to borrow student loans for nursing school, opt for federal loans before private options. Federal loans come with income-driven repayment plans, which may offer you a more affordable payment if you end up with a lot of nursing student debt or a low nursing salary after finishing your educational program.
Federal loans are also eligible for Public Service Loan Forgiveness. This program eliminates your remaining debt after you make 10 years of eligible payments while working for a qualifying nonprofit or government employer. Some private loans may be eligible for different student loan forgiveness programs for nurses.
Available federal nursing student loans
Nursing students may have access to multiple federal loan options, depending on the degree they’re getting and which school they attend. Borrow them in this order:
Subsidized direct loans are available for undergraduate nursing students — those pursuing an ADN or BSN, for example — who demonstrate financial need. The amount you can borrow in subsidized loans is limited, but these loans are a good first choice because the government pays the interest on them while you’re in school.
Nursing School Loans are a health professions student loan offered by the federal Health Resources and Services Administration available to undergraduate and graduate students with financial need. Nursing School Loans are subsidized and have no set borrowing limit. However, these loans aren’t available at every school.
Unsubsidized direct loans are available to all nursing students, though borrowing limits and interest rates differ between undergraduate and graduate programs. You always pay the interest on unsubsidized loans, making them a more expensive option than the federal loans listed above.
Graduate PLUS loans are available for graduate nursing programs, such as MSN degrees. Graduate PLUS loans are unsubsidized and have the highest interest rates and fees among all federal loans. But these loans also have the highest borrowing limits: You can take out up to your school’s cost of attendance, minus other aid received.
You must submit the Free Application for Federal Student Aid to be eligible for any federal loan. Schools typically require the FAFSA for Nursing School Loans as well, but check to see if yours has a different process.
Private loans for nursing students
Undergraduate students may need a private loan for nursing school after maxing out federal options. Private loans require good credit and strong income to qualify; most undergraduate students need a co-signer to meet these lending criteria.
If you’re a graduate student, some lenders offer loans specifically for those pursuing healthcare degrees. These may come with lower interest rates or larger borrowing limits than traditional private graduate student loans. You could also get a better interest rate than with a PLUS loan, depending on your or a co-signer’s credit. Be sure to compare all private student loan options to get the best deal possible.
Last updated on December 21, 2022
To recap our selections...
NerdWallet's Best Nursing Student Loans of February 2023
- Federal Subsidized/Unsubsidized Loan: Best for All nursing students as a first choice
- Federal Grad PLUS Loan: Best for Nurses pursuing advanced degrees
- Sallie Mae Private Student Loan: Best for Graduate nursing students with strong finances
- MPOWER Private Student Loan: Best for International nursing students
- A.M. Money Private Student Loan: Best for Part-time nursing students
- Avenify Income Share Agreement: Best for Nursing students without a co-signer
- RISLA Private Student Loan: Best for Rhode Island residents
Frequently asked questions
Federal Nursing School Loans are loans whose funding is from the Health Resources and Services Administration. These loans are available at participating schools for students with financial need.
If you work at a nonprofit organization post-graduation, your federal loans may qualify for loan forgiveness. Other programs are available to nurses that may also forgive private loans.
Nursing students should typically use federal loans before turning to private loans. That's because federal aid offers more flexible repayment options and potential options for forgiveness.
A nurse’s debt depends on his or her degree. Registered nurses finish school with an average debt of $19,928 (ADN) or $23,711 (BSN), while nurses with master’s degrees owe $47,321 on average.