Loans are an important component of assisting students in meeting their educational expenses. Student Financial Services encourages individuals utilizing loans to fully understand the terms of each loan and borrow only what is needed. We also advise individuals to research loan repayment and employment options which can assist in meeting loan repayment obligations. Below are the different types of loans available to students matriculating at the School of Nursing. Current and prospective students have access to our office year-round by email, phone, or in person. Please do not hesitate to contact us with any questions or concerns.
Federal Student Loans
Federal loans are provided by the U.S. Department of Education. To be eligible for federal loans, students must complete the FAFSA. The types of federal student loans used by students at the School of Nursing are listed below:
The Federal Direct Unsubsidized Loan is used to help cover a student’s expenses. Students do not have to demonstrate financial need. The maximum amount that can be borrowed per year is $20,500. Interest on the loan accrues while a student is enrolled in school and is added to the principal of the loan. Students apply for the Federal Direct Unsubsidized Loan by completing the FAFSA. The most up to date interest rates and origination fee can be found at https://studentaid.gov/.
Programs at the School of Nursing are graduate-level only. Therefore, students are not eligible for Federal Direct Subsidized loans.
The Federal Direct Graduate PLUS Loan is used to help cover a student’s expenses. To qualify for this loan students must complete the FAFSA, complete an application, and pass a credit check. Students do not have to demonstrate financial need. A student may apply for any amount up to the cost of attendance, less any other financial aid. Interest on the loan accrues while a student is enrolled in school and is added to the principal of the loan. The most up to date interest rates and origination fee can be found at https://studentaid.gov.
The Federal Perkins Loan has been discontinued by Congress. If you are working as a nurse and providing care directly to patients, you are eligible to have your Federal Perkins Loan forgiven. Please refer to the application located here.
Private student loans are provided by banks, credit unions, or other types of lenders. The bank or lender, not the federal government, sets the interest rates, loan limits, terms, and conditions of the loan. Qualifying for and borrowing a private student loan may be based on numerous factors that can include credit history, a co-signer and their credit history, income, and program of study. Johns Hopkins University does not endorse or recommend any lender, nor does the University have a financial interest in any lending institution. We will process an application from the lender of your choice. It is recommended that you first exhaust your eligibility for all federal loan programs before considering a supplemental loan. As with all loans, you are encouraged to borrow only what you need to meet your educational costs.
Nurse Faculty Loan Program
The purpose of the NFLP is to assist registered nurses with completing their graduate education to become qualified nurse faculty... Recipients receive a loan of up to $35,500 per year for their graduate education. The program offers partial loan forgiveness for borrowers who graduate and serve as full-time nursing faculty for the prescribed period of time. Loan recipients may cancel 85% of the total loan amount over four years in return for serving as full-time faculty at any accredited school of nursing. For more information click here.
Johns Hopkins Hospital Employee School of Nursing Tuition Loan
Johns Hopkins Health System Corporation/Johns Hopkins Hospital (JHHSC/JHH) employees who are enrolled at the School of Nursing can finance their tuition through this special loan program with the Johns Hopkins Federal Credit Union (JHFCU). For more information about this program, contact the JHHSC/JHH Benefits Office at 410-614-6504.
Loan Forgiveness & Repayment Assistance
Below is a list of loan forgiveness and repayment assistance options gathered by Student Financial Services. The options encompass Bachelors, Masters, and/or Doctoral degrees. Additional eligibility criteria may be required prior to applying for a program. Please contact the administering agency if you have any questions regarding your eligibility, the application process, or deadlines.
- Federal Perkins Loan Cancellation
- Public Service Loan Forgiveness Program
- Nurse Corps Loan Repayment Program
- Arizona Loan Repayment Program
- California Bachelor of Science Nursing Loan Repayment
- California State Loan Repayment Program
- Delaware State Loan Repayment Program
- Florida Nursing Student Loan Forgiveness Program
- Iowa Loan Repayment Program
- Iowa Registered Nurse and Nurse Educator Loan Forgiveness Program
- Indian Health Services Loan Repayment Program
- Maryland Janet L. Hoffman Loan Assistance Repayment Program
- Massachusetts Loan Repayment Program
- Minnesota Nurse Loan Forgiveness Program
- New York Nursing Faculty Loan Forgiveness Program
- Texas Border County Doctoral Faculty Education Loan Repayment Program
- Virginia State Loan Repayment Program
- District of Columbia Health Professional Loan Repayment Program