How to Fund Your Nursing Education
Financing your graduate nursing degree is an important step in your academic and professional journey. Most students begin with federal student loans, then explore additional options such as loan forgiveness programs and private loans if needed.
The sections below outline the most common funding pathways for graduate nursing students.
Scholarships
Scholarships provide funding that does not need to be repaid and can help reduce the overall cost of your nursing education. USD offers a range of scholarship opportunities for graduate nursing students based on eligibility, program, and available funding.
We encourage all applicants to complete the Free Application for Federal Student Aid (FAFSA) to be considered for scholarships and other forms of financial aid.
Federal Student Loans
Federal student loans are typically the primary funding source for graduate nursing students due to their predictable terms and borrower protections.
Direct Unsubsidized Loans (ONLY federal loan now)
- Available to graduate students regardless of financial need
- Loan amounts are based on your cost of attendance and other financial aid received
- Interest accrues during all periods
Important:
You are responsible for paying the interest on a Direct Unsubsidized Loan during all periods. If unpaid, interest accrues and is capitalized, increasing the total cost of the loan.
Changes to Graduate Loan Funding
Recent federal legislation has changed how graduate education is funded, including the removal of certain federal loan options and new limits on borrowing.
As a result, students may need to use a combination of funding sources, including federal loans, scholarships, loan forgiveness programs, and private educational loans.
We encourage you to review the latest updates and speak with a financial aid advisor to understand how these changes may affect your funding plan.
Private Educational Loans
Private educational loans are offered by banks and private lenders and may be used to supplement federal aid.
- Credit-based and may require a co-signer
- Interest rates and terms vary by lender
Note:
Private loans typically offer fewer repayment protections and forgiveness options than federal loans.
Loan Forgiveness Programs for Nurses
Many nursing graduates qualify for loan forgiveness programs that reduce or eliminate student debt in exchange for service.
These programs are especially valuable for nurses working in underserved communities or public service roles.
Full tuition funding is available through the Nurse Faculty Loan Program (NFLP) for individuals pursuing a career as nursing faculty.
The University of San Diego Hahn School of Nursing and Health Science receives funding from the U.S. Department of Health and Human Services (HHS) to operate a student loan fund aimed at increasing the number of qualified nursing faculty nationwide.
Through the NFLP, up to 85% of the loan's principal and interest may be forgiven once a student completes the Post-MSN PhD program in advanced nursing education and secures a full-time tenure-track or clinical-track faculty position at an accredited School of Nursing.
As a condition of the loan, recipients must complete six units of coursework in preparation for the faculty role at the Hahn School of Nursing and Health Science.
Eligibility requirements
To qualify for the Nurse Faculty Loan Program, applicants must:
- Be a U.S. citizen or national
- Be a full-time student in good standing in an advanced nurse education doctoral program
- Have no judgment liens entered against them for defaulting on a federal debt per 28 U.S.C. 3201(e)
Application requirements
To apply, students must submit both the FAFSA and the NFLP application.
NFLP application forms are available through the Hahn School of Nursing and Health Science. To request the forms, please call (619) 514-3972 or email nursing@sandiego.edu.
The Nurse Corps Loan Repayment Program (NCLRP) helps registered nurses, advanced practice registered nurses, and nurse faculty reduce their student debt by repaying up to 85% of their qualifying nursing education loans.
Participants who work at a critical shortage facility or serve as nurse faculty at an eligible school of nursing may have 60% of their student loan debt repaid over two years. After completing the initial two-year service commitment, participants may be eligible for a third year of support, with an additional 25% of their loans repaid.
The NHSC Loan Repayment Program offers primary care medical, dental, and mental and behavioral health providers the opportunity to have their student loans repaid while earning a competitive salary. In return, providers commit to delivering care in urban, rural, or tribal communities with limited access to healthcare.
The program offers two levels of loan repayment, determined by the Health Professional Shortage Area (HPSA) score of the community in which the provider serves.
Eligible providers include primary care nurse practitioners, including those specializing in:
- Family
- Adult
- Pediatric
- Psychiatric-mental health
The California SLRP aims to increase the number of primary care and behavioral health providers working in federally designated Health Professional Shortage Areas (HPSAs) across California.
Eligible providers include:
- Primary care physicians
- Dentists and dental hygienists
- Physician assistants
- Nurse practitioners
- Certified nurse midwives
- Pharmacists
- Mental and behavioral health professionals
Participants may receive up to $50,000 in loan repayment in exchange for a two-year full-time service commitment.
The IHS Loan Repayment Program supports dedicated health professionals in building meaningful, long-term careers while reducing their student debt. The program offers up to $50,000 in loan repayment for eligible health profession education loans, in exchange for a two-year service commitment at IHS facilities serving American Indian and Alaska Native communities.
Opportunities are prioritized based on the greatest staffing needs in specific health professions at Indian health program facilities. Participants may renew their contracts annually until their qualified student debt is fully repaid.
While many clinicians enter the program for its financial benefits, they often find the cultural and professional fulfillment so rewarding that they choose to dedicate their careers to Indian health.
Planning Your Financial Aid
Financial Aid Deadlines
Federal loan eligibility is determined through your FAFSA application.- Priority FAFSA deadline: April 1
- Aid is awarded based on eligibility and availability
Borrowing with Confidence
Understanding how to borrow strategically can help you manage your investment in your education.- Start with federal loans before considering private options
- Borrow only what you need
- Explore loan forgiveness programs early
- Consider your long-term career goals and earning potential
We’re Here to Help
Our admissions and financial aid teams are available to help you understand your options and build a plan that works for you.
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