Financial Aid

Federal Nursing Loan

The Federal Nursing Loan is available to students that have indicated Nursing as their major and have financial need determined by information reported on the Free Application for Federal Student Aid (FAFSA). This loan uses government funds, but the lender is Illinois Wesleyan University. With the exception of nursing students in their last two years of a program, the annual maximum loan is $3,300. The annual maximum NSL is $5,200 for students who are in their last two years of study. You can learn more about these loans by visiting the U.S. Department of Health & Human Services website.

Federal Nursing Student Loan Information:

Interest Rate

Eligibility Requirements

Dates to Remember

5%

  • Be enrolled at least half-time
  • Be a Nursing Major
  • Be a U.S. citizen, national, or eligible non-citizen
  • Have financial need, as determined by the calculations from information reported on the FAFSA
  • Complete your FAFSA application before November 1
  • Review and respond to your award proposal after January 1 for incoming students or after May 1 for returning students

Please note: Federal Nursing Student loan documents will be available July 2019. Please wait for an e-mail from the Financial Aid Office for availability of these forms.


This is required only if the Federal Nursing Student Loan is awarded as part of your financial aid proposal.

The Federal Nursing Student Loan is a federal loan that functions similar to a Federal Perkins Loan. To ensure the processing of your Federal Nursing Student Loan, each year the following items are required and must be completed:

  1. Accept the Federal Nursing Student Loan - this can be done either online through your MyIWU account, or by returning a signed copy of your award notice to the Financial Aid Office.
  2. Master Promissory Note - a document completed online that serves as the application for the loan.
  3. Private Loan Approval Disclosure - a document that is viewed online, giving you in depth information on the loan awarded for the academic year.
  4. Private Loan Self-Certification Form - a document completed online that certifies your enrollment and cost of attendance information.
  5. Final Private Loan Disclosure - a document that is viewed online, giving you another look at the information on the loan awarded for the academic year with the option of canceling the loan. 

Heartland ECSI Loan Servicer

IWU is using Heartland ECSI to service our Federal Nursing Loans and IWU Loans.

Heartland ECSI
www.heartland.ecsi.net
(888) 549-3274


Questions?

Visit our Loans FAQ.