Federal Nursing Student Loans

Need-based Federal Nursing Student Loans are awarded to undergraduate nursing students who have completed two years of study. Eligibility for these loans is based on the information students provide on the FAFSA and the availability of funding.

These loans have a fixed interest rate of 5% and interest does not accrue until repayment begins nine months after the student leaves school or drops below half-time enrollment. Since Seattle University is the lender, no separate application is required.

Each year, before these loans are disbursed, the Student Financial Services Office sends notifications to student borrowers' SU email addresses directing them view their Financial Aid Self Service Portal to complete required loan documents. Students are typically notified if they receive this award at the end of summer. 

Loan Cost & Terms


The following loan costs are based on a typical Nursing loan award of $4,000.00 a year:

Total Loan Amount: $4,000.00
Interest Rate*: 5.0% Fixed
Repayment Period: 120 months/10 years
Monthly Payment Amount: $42.34
Estimated Finance Charge: $1,080.80

*Interest does not accrue and payments are not due while the student is enrolled at least half-time in a Nursing degree program and during the 9-month grace period. 


  • Late Payment Charge:  6% of the past due installment after 60 days.
  • Returned Check Charge:  $25.00

Bankruptcy Limitations

Students who file for bankruptcy may still be required to pay back this loan.

Default Penalties

If the borrower fails to make an installment payment when due or fails to comply with the terms of the promissory note, the loan will be considered in default.

Loan Servicer

Nursing Loans are serviced by Heartland ECSI. You may contact them at 1-888-549-3274.  Student borrowers may view information about their disbursed loan online on the Heartland loan servicing website. SU's Heartland school code is WA3.  

Additional Information

For more information about loan repayment terms and deferment options, borrowers should refer to their promissory notes.