The Best Student Loans for Nurses in 2025: Federal and Private Options for Undergrad and Grad Degrees

If you need student loans for nursing school, federal loans should be your first choice. They offer lower interest rates, more flexible repayment options, and loan forgiveness programs—making them the best way to finance your education. But if federal loans don’t cover all your costs, private loans can help fill the gap.

We selected the best student loans for nurses based on factors like low rates, flexible terms, cosigner options, and borrower perks. Whether you need federal or private loans, choosing the right lender can make repaying your nursing school debt easier and more affordable.

Lender	Best for	LendEDU rating
Dept. of Education	Federal student loans	Not rated
College Ave	Private student loans	5/5
Sallie Mae	Cosigners	4.8/5
Earnest	Large loans	4.7/5
SoFi^®	Member benefits	4.7/5
ELFI	Student loan advisors	4.5/5

Federal student loans for nurses

Federal student loans should be your first option when financing nursing school. They generally offer lower interest rates, fixed repayment terms, and more flexible repayment options than private loans.

To apply, complete the Free Application for Federal Student Aid (FAFSA).This form determines your eligibility for federal loans, as well as grants, scholarships, and work-study programs.

Federal student loans for undergraduate nursing students

If you’re pursuing an associate or bachelor’s degree in nursing (ADN or BSN), you may be eligible for the following federal loans:

Loan type	Interest rate	Annual borrowing limit
Direct Subsidized Loan (financial need required)	6.53%	$3,500 – $5,500
Direct Unsubsidized Loan	6.53%	$5,500 – $7,500 (includes subsidized loans)

Direct Subsidized Loans are available to undergraduates with financial need. The government pays the interest while you’re in school at least half-time, during your grace period, and during deferment. This helps keep your total loan cost lower.
Direct Unsubsidized Loans are available to all undergraduate students, regardless of financial need. However, interest starts accruing immediately, which means your balance could grow while you’re still in school.

💡 How much can you borrow?

Dependent students can borrow up to $31,000 total in federal loans (including subsidized and unsubsidized).
Independent students can borrow up to $57,500 total.
If federal loans don’t fully cover your costs, your parent(s) may be able to take out a Parent PLUS loan, which lets them borrow up to your full cost of attendance.

Federal student loans for graduate nursing students

If you’re earning an MSN, DNP, or another advanced nursing degree, you’ll have different borrowing options:

Loan type	Interest rate	Annual borrowing limit
Direct Unsubsidized Loan	8.08%	$20,500
Grad PLUS Loan	9.08%	Up to full cost of attendance

Direct Unsubsidized Loans are available to graduate students. As mentioned, interest starts accruing immediately.
Grad PLUS loans allow you to borrow up to your total cost of attendance, but they come with higher interest rates and fees. These loans also require a credit check, though approval criteria are less strict than private loans.

💡 How much can you borrow?

Graduate students can borrow up to $138,500 total in federal loans (including any undergraduate loans).
If you need to borrow more than the $20,500 annual limit, Grad PLUS loans can cover the remaining cost of your program.

Which federal loan should you take first?

Undergraduates: Always maximize subsidized loans first, since they don’t accrue interest while you’re in school. Then, if needed, take out unsubsidized loans before considering Parent PLUS loans.
Graduate students: Use Direct Unsubsidized Loans first, since they have lower interest rates than Grad PLUS loans. If you need more funding, compare Grad PLUS loans to private student loans to see which offers better rates.
PLUS loans (Parent and Grad): These have the highest interest rates, but they allow you to borrow up to your full cost of attendance if other loans don’t cover everything.

By knowing your borrowing limits and how each loan works, you can make a more informed decision about how to finance your nursing education while keeping costs as low as possible.

Best private student loans for nurses

If federal loans don’t cover all your nursing school costs, private student loans can help fill the gap. While private loans typically have higher interest rates than federal loans, some lenders offer better rates than Grad PLUS Loans—especially if you have strong credit.

Some private lenders also offer specialized loan programs for nursing students. These might include extended grace periods or flexible repayment options.

Before choosing a private loan, compare it to Grad PLUS Loans to see which offers the lowest overall cost and best repayment terms for your situation. Here are our top recommendations.

College Ave

Best Overall

5.0 _/5

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Why it’s one of the best

College Ave is an online lender that provides student loans to students and parents. The lender offers multiple loans you can use for medical degrees, whether you’re going into nursing or something else, including its standard graduate student loan, medical school loan, and health professions student loan.

Its health professions student loan lets you borrow up to your school’s cost of attendance and choose repayment terms from five to 20 years. This loan doesn’t charge origination fees and has a nine-month grace period. You can defer payments for up to 48 months in fellowship or residency.

To qualify for a College Ave student loan, you must meet the lender’s credit and income requirements or apply with a cosigner who does. International students who apply with a U.S. cosigner are eligible for a loan.

Choose from 5 repayment terms
Defer payment while you’re in school
Apply in just 3 minutes

Loan details

Rates (APR)	3.87% – 14.47%
Loan amounts	$1,000 – cost of attendance
Repayment terms	5, 8, 10, or 15 years

Sallie Mae

Best for Cosigners

4.8 _/5

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Why it’s one of the best

Sallie Mae offers many types of student loans, including the Sallie Mae Graduate School Loan for Health Professions. The loan can cover all your school-certified expenses and offers a lengthy deferment period of 48 months during an internship or fellowship, in increments of 12 months.

You can borrow as much as you need to pay for school and will pay back your loan over 15 years. Sallie Mae also offers a rate discount of 0.25% for autopsy.

Sallie Mae doesn’t charge origination fees on its student loans and offers a six-month grace period. It has loan options for full-time and part-time students. If you apply with a cosigner, you may qualify for cosigner release after 12 months of on-time loan payments.

Shortest cosigner release period available
48-month deferment during your internship and fellowship
Available for less than half-time enrollment

Loan details

Rates (APR)	4.15% – 14.97%
Loan amounts	$1,000 – cost of attendance
Repayment terms	15 years

Earnest

Best for Large Loans

4.7 _/5

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Why it’s one of the best

Earnest offers loans for students pursuing medical careers, including nursing. You get a grace period of nine months after leaving school before you need to make payments.
Repayment terms range from five to 15 years, but Earnest lets you choose your term down to the month to find a monthly payment that works for your budget.

You can also skip a payment once per year, though your skipped payment will be counted against your total 12-month forbearance allowance that is allowed over the life of the loan—and you’ll make those payments eventually before the loan ends. So skip payments sparingly.

You can borrow up to your school’s cost of attendance from Earnest, and your loan will come with a grace period of nine months. Earnest doesn’t apply origination or late payment fees on its nurse student loans.

Skip a payment once per year if needed
No fees
Check your rate without affecting your credit

Loan details

Rates (APR)	4.17% – 16.85%
Loan amounts	$1,000 – cost of attendance
Repayment terms	5, 7, 10, 12, or 15 years

SoFi

Best for Member Benefits

4.7 _/5

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Why it’s one of the best

SoFi’s health professions loans are available to graduate nursing students and other graduate medical students. No fees, including origination and late fees, are required, and repayment terms range from five to 15 years.

You can borrow up to your school’s cost of attendance and defer payments for nine months after you graduate. SoFi also offers borrowers a range of member benefits, including financial advising and member experiences.

No fees
Check your rate without affecting your credit

Loan details

Fixed rates (APR)	4.74% – 15.86% with all discounts applied
Loan amounts	$1,000 – cost of attendance
Repayment terms	5, 7, 10, or 15 years

ELFI

Best for Student Loan Advisors

4.5 _/5

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Why it’s one of the best

ELFI graduate school loans are available to nursing and graduate students. Borrowers are assigned a student loan advisor to assist throughout the application process, and you can get a rate discount of 0.25% for making automatic payments.

You can borrow up to 100% of your certified costs and choose repayment terms of five, seven, 10, or 15 years. ELFI offers a six-month grace period. You can prequalify for an ELFI student loan on the lender’s website.

Personalized service with a dedicated student loan advisor for each applicant
Competitive rates with no origination, application, or prepayment fees
Flexible repayment terms ranging from five to 15 years
Option to prequalify without affecting your credit score
Available for undergraduate, graduate, and parent loans
Offers forbearance for up to 12 months for financial hardship or medical difficulty

Loan details

Rates (APR)	4.50% – 14.22%
Loan amounts	$1,000 – cost of attendance
Repayment terms	5, 7, 10, or 15 years

Health professions student loans for nurses

The Health Resources and Services Administration (HRSA) is another potential source of loans for nursing students. The HRSA partners with schools to offer loans to students pursuing careers in medicine, including nursing.

It pays for up to 85% of unpaid nursing education debt. Over the course of two years, you’ll receive 60% of your total outstanding qualifying nursing education loans.

After your two-year service contract, you may be eligible for a third year and an additional 25% of your nursing student loans.

Because the HRSA partners with schools to offer loans, you can work with your school to confirm eligibility and apply. Student loans are available for those pursuing associate, undergraduate, or graduate degrees.

What type of student loans should I take out for my nursing education?

Financing your nursing degree typically comes down to two options: federal student loans or private student loans. In most cases, federal loans should be your first choice.

Why federal student loans should come first

Federal student loans offer benefits that private loans can’t match:

Lower, fixed interest rates: Private loan rates can vary, but federal loans offer fixed rates that are often lower.
No credit check required: Unlike private loans, you don’t need a credit history to qualify.
No cosigner needed: Federal loans are available to students regardless of their financial background.
More flexible repayment options: Federal loans offer income-driven repayment plans, deferment, forbearance, and forgiveness programs.
Interest subsidies: If you qualify for Direct Subsidized Loans (undergraduates only), the government covers your interest while you’re in school.

To apply, you’ll need to fill out the Free Application for Federal Student Aid (FAFSA). However, federal loans come with borrowing limits, and if your loans don’t cover all of your tuition and expenses, you may need private student loans.

When to consider private student loans

Private student loans can help cover any funding gaps, but they work differently than federal loans. Here’s what to keep in mind:

Interest rates: Private loans may have lower rates than Grad PLUS Loans—but only if you have strong credit.
Fixed vs. variable rates: Unlike federal loans, private loans offer both fixed and variable rates. Variable rates can start lower but may rise over time.
Higher borrowing limits: Private lenders often allow you to borrow more than federal loans, which can be helpful if you’re attending a more expensive program.
Quick approval process: Unlike federal loans, which require FAFSA processing, private lenders often approve applications within days.

Some private lenders market themselves specifically to nursing students, but their loan terms aren’t necessarily different from other private loans. It’s still important to compare interest rates, repayment terms, and borrower benefits before choosing a lender.

Can nursing school student loans be forgiven?

Yes—nurses have several loan forgiveness and repayment assistance options, but most apply only to federal student loans. If you have private student loans, your options are more limited, but some states and employers offer repayment assistance programs.

Loan forgiveness for federal nursing student loans

If you took out federal loans for nursing school, you may qualify for one of these major forgiveness programs:

Nurse Corps Loan Repayment Program: This federal program repays up to 85% of your student loans if you work for two years in a critical shortage facility or as a nurse faculty member. The program has strict eligibility requirements and a competitive application process.
Public Service Loan Forgiveness (PSLF): If you work full time for a nonprofit hospital, government agency, or qualifying healthcare facility, you may qualify for PSLF. After making 120 qualifying payments (about 10 years) under an income-driven repayment plan, your remaining loan balance is forgiven.
State-based loan forgiveness programs: Many states offer nursing loan repayment assistance programs (LRAPs) that help pay down federal student debt for nurses who work in high-need areas. Check with your state’s health department to see if you qualify.

Repayment assistance for private student loans

Since private student loans don’t qualify for federal forgiveness programs, repayment options are more limited. However, you may still find assistance through:

State nursing loan repayment programs: Some states offer assistance that applies to both federal and private loans—though federal loans typically get priority.
Employer-sponsored repayment assistance: Some hospitals and healthcare employers offer loan repayment benefits as part of their compensation package. These programs vary but can help cover private loan payments over several years.
Refinancing private loans: If you don’t qualify for forgiveness, refinancing your private loans with a lender offering lower interest rates or better terms may help reduce costs.

If you have a mix of federal and private student loans, it’s a good idea to prioritize paying off private loans first, since they lack the flexible repayment options and forgiveness programs available for federal loans.

How much should you borrow to finance nursing school?

A good rule of thumb is not to borrow more than your annual salary after additional education. For example, if you plan to return to school to become a nurse practitioner and anticipate your new salary to be a certain amount, ensure the total amount borrowed (both existing and new loans) will not exceed that anticipated new salary. And be careful not to overestimate either!

Crystal Rau , CFP®

How to get loans for nurses

Applying for student loans for nursing school isn’t complicated. Here’s how to get funding:

Fill out the FAFSA. The first step to getting federal student loans is to complete the FAFSA and submit it by the school’s deadline. The FAFSA is necessary to qualify for all types of federal student loans. If you have trouble filling it out, you can get help online through FAFSA; anecdotally, some small colleges will help you fill out the FAFSA for free, especially if you plan on attending.
Review your award letter. Once you’ve submitted the FAFSA, the school’s financial aid department will review the results and determine your eligibility. You’ll get your results in an award letter showing the total amount you qualify for.
Determine whether you need more aid. If you still need more financial aid, you can apply for a private student loan.
Choose a private student loan. Private student loan companies vary. Compare interest rates, repayment terms, in-school repayment options, and fees. Be sure to consider the benefits and downsides of choosing a private rather than a federal loan, but again, sometimes you don’t have a choice or may need to use both.

FAQ

Which nursing school loan is the best?

Picking a nursing school loan depends on what you qualify for as well as your comfort zone in paying it back. You may be able to get good rates but feel the monthly payment is too high.

So, the best nursing school loan is the one you’re most comfortable with, and you can only know if you’re a good fit for a loan if you look at a lot and compare them to each other.

Still, as a general rule of thumb: If you’re eligible for federal student loans, that’s what you should take. They’re going to provide the best student loans for nurses (or anyone), offering more repayment options, loan forgiveness plans, longer forbearance periods, and potentially lower interest rates.

However, a private student loan may be your only option if you don’t qualify for federal loans.

Do I need a cosigner for nursing school loans?

If you’re taking out a federal student loan, you won’t need a cosigner in most cases.

If you’re taking out a Grad PLUS loan and have an adverse event on your credit report, you may need to add an endorser, which is essentially a cosigner. It’s a term often used with federal student loans; the endorser agrees to pay the loan if the primary borrower can’t.

Many private loans require a cosigner unless you have good credit and a steady income.

Do nursing school loans cover living expenses?

Nursing school loans may cover the attendance cost, including living expenses. However, if your living expenses exceed the school’s stated average, you’ll have to find another way to cover the cost.

How much can I borrow with nursing student loans?

The amount you can borrow depends on the type of loan. Most graduate loans will let you borrow up to the annual cost of attendance, but some undergraduate loans have lower limits.

When does repayment on nursing school loans start?

Repayment varies depending on the type of loan you have. If you have federal student loans, repayment will begin six months after you graduate, leave school, or drop below part-time status.

If you have private student loans, repayment will vary depending on your lender’s policy. Generally, private lenders’ grace periods range from six to nine months.

How we chose the best student loans for nurses

LendEDU evaluates student loan lenders to help readers find the best student loans. Our latest analysis reviewed 725 data points from 25 lenders and financial institutions, with 29 data points collected from each. This information is gathered from company websites, online applications, public disclosures, customer reviews, and direct communication with company representatives.

These star ratings help us determine which companies are best for different situations. We don’t believe two companies can be the best for the same purpose, so we only show each best-for designation once.

Recap of the best student loans for nurses

Lender	Best for	LendEDU rating
Dept. of Education	Federal student loans	Not rated
College Ave	Private student loans	5/5
Sallie Mae	Cosigners	4.8/5
Earnest	Large loans	4.7/5
SoFi	Member benefits	4.7/5
ELFI	Student loan advisors	4.5/5