One thing the coronavirus pandemic made abundantly clear is a marked scarcity of medical personnel, and nurses in particular. The Bureau of Labor Statistics has been clear about nurses’ demand and how it will skyrocket in the coming years. So, there’s never been a better time to become a nurse, and we’re here to help you achieve that with a list of the best nursing student loans we could find.
We examined these and rated them on things like:
- interest rates
- repayment options
- credit requirements
If you’re in a hurry, you’ll find a complete comparison table right below:
The Best Nursing Student Loans At-a-Glance
We may earn a commission on sales made from partner links on this page. This doesn’t affect our research and evaluation process. Read our full Affiliate Disclosure. 1. Ascent

Key Features
- Income-based repayment option
- 1% cashback after graduating
- Numerous deferment options
- Free student resources from industry partners
2. Earnest
Key Features
- Competitive minimum interest rates
- Nine-month grace period
- Allows you to skip a payment every year
- Refinances its own loans
3. CommonBond
Key Features
- Free money mentor
- Cosigner release after two years
- Donates to the Pencils of Promise foundation with every refinance
- Relatively low credit requirements
4. College Ave
Key Features
- Non-standard loan terms
- Nine-month grace period for graduate students
- Offers military deferment
- Easy and streamlined application process
5. Splash Financial
Key Features
- Provides excellent refinance rates
- Get offers from multiple lenders
- Refinances federal, private, and Parent PLUS loans
- Can refinance multiple loans
6. LendKey
Key Features
- Multiple lender offers in one place
- Up to 18 months of hardship forbearance
- Low-income requirement
- Excellent refinancing options
7. SoFi Student Loans
Key Features
- Get That Raise®️ tool
- Unemployment protection
- Generous repayment options
- No fees
8. Discover Student Loans
Key Features
- Special rates for health professions
- Nine-month grace period
- Medical residency deferment
- Rewards for good grades
9. Education Loan Finance
Key Features
- Competitive rates
- Dedicated loan advisor
- Excellent customer support
- No fees
10. Avenify
Key Features
- Income share agreement only for nurses
- Up to $15,000 per semester
- No credit check required
- Payments don’t start until you make at least $20,000
Nursing Student Loans Reviews
1. Ascent

Key Features
- Fixed APR: 3.38%–13.72%
- Variable APR: 2.44%–12.39%
- Estimated minimum credit score: 540
- Type of degree: Undergraduate and graduate
- Minimum loan: $1,000
Why it’s on this list — Ascent is one of the best private student loan providers bar none. It has some of the industry’s best rates and is known for excellent customer service and borrower rewards.
It provides both co-signed and independent student loans as well as an income-based non-cosigned option. The income-based loan is available for undergraduate juniors and seniors enrolled full-time who will make payments based on their future income.
Requirements — Cosigned loans from ascent require a minimum credit score of 540 as long as the cosigner’s credit is at least 740. Independent student loans for nursing from Ascent require at least a 680 credit score and two years of credit history in addition to a minimum income of $24,000.
If you choose the income-based loan, there is no income requirement, and your current income is not considered in the application. Therefore, Accent is not too demanding.
Loan terms — You can choose 5-, 10-, or 15-year repayment terms for variable APR loans from Ascent and 5- or 10-year repayment for fixed APR loans that are on par with some of the best nursing student loans we examined. Ascent has an incredibly convenient $1,000 minimum loan and a maximum of $200,000 over a borrower’s lifetime. Also, there is a per-loan maximum of $20,000 for non-cosigned loans.
You can defer payment while in school and up to six months after graduation. What is more, you can also make flat payments of $25 while in school on interest-only payments.
Pros
- + Income-based repayment option
- + 1% cashback after graduating
- + Numerous deferment options
- + Free student resources from industry partners
Cons
- − No benefits specific to nursing
2. Earnest
Key Features
- Fixed APR: 3.49%–12.78%
- Variable APR: 1.05%–11.44%
- Estimated minimum credit score: 650
- Type of degree: Undergraduate and graduate
- Minimum loan: $1,000
Why it’s on this list — While Earnest doesn’t specialize in nursing student loans, it’s an excellent lender that offers many advantages to all students. Not only that, but in early 2020, Earnest stopped offering any loans other than student loans, which has made the company redouble its efforts on those products.
One of Earnest’s best features is that it charges no fees, not even late fees. It also has extremely generous refinancing options and even refinances its own loans if the loan account is in good standing.
Requirements — Cosigners must have a 650 FICO score to qualify for Earnest loans, and the requirements are the same for independent borrowers. Both graduate and undergraduate independent borrowers must also have an income of $35,000 and no bankruptcies to qualify for nursing school student loans from Earnest.
Loan terms — Cosigned loans can have 5-, 7-, 10-, 12-, or 15-year terms, whereas independent borrowers can only choose between 5 or 7 years. The minimum loan amount is $1,000. Yet, there’s no maximum limit other than the school’s certified attendance cost, so you can apply for whichever college you set your heart to.
Earnest also conveniently allows borrowers to skip one payment every 12 months. It doesn’t eliminate the payment, but the loan is deferred by one payment period. If you choose to defer your loan payments while in school, the grace period is nine months, beating most other private nursing student loans by convenient three months.
Pros
- + Competitive minimum interest rates
- + Nine-month grace period
- + Allows you to skip a payment every year
- + Refinances its own loans
Cons
- − Relatively high-income requirement
3. CommonBond
Key Features
- Fixed APR: 3.74%–10.74% (autopay)
- Variable APR: 3.81%–9.37% (autopay)
- Estimated minimum credit score: Undisclosed
- Type of degree: Undergraduate and graduate
- Minimum loan: $2,000
Why it’s on this list — If you’re looking to become a nurse, there’s a good chance you’re excited about helping people. Well, CommonBond shares that goal, which makes it an excellent choice to get a loan for nursing students.
Of course, it doesn’t hurt that it offers competitive interest rates, no application or origination fees, and even gives you access to a money mentor. That is quite an outstanding feature, i.e support. The money mentor is a real-life advisor who can help you make better financial decisions, discover sources of money for your education, and even help find internships in your field.
Requirements — While CommonBond has more lenient requirements than some of the nursing student loan providers on this list, it requires a cosigner for graduate and undergraduate loans. However, you can release your cosigner after two years of timely payments and if you have a decent credit score.
Cosigners need to have a credit score of 660 and two years of credit history, but there is no income requirement.
Loan terms — CommonBond only has three loan terms: 5, 10, and 15 years for both undergraduate and graduate loans. Its maximum loan amount is $500,000, but you’ll still need the school to certify the cost of attendance to justify your loan amount.
Unfortunately, CommonBond charges late fees. It is still one of the best nursing student loans providers there is since this is a mostly symbolic amount of $10 or 5% of the payment, whichever is less.
Pros
- + Free money mentor
- + Cosigner release after two years
- + Donates to the Pencils of Promise foundation with every refinance
- + Relatively low credit requirements
Cons
- − Requires a cosigner
- − Not available in Mississippi and Nevada
4. College Ave
Key Features
- Fixed APR: 3.34%–12.99%
- Variable APR: 1.40%–11.98%
- Estimated minimum credit score: Undisclosed
- Type of degree: Undergraduate and graduate
- Minimum loan: $1,000
Why it’s on this list — College Ave is all about responsible credit. They offer a full suite of nursing student loan repayment options and make it easy to make payments while you’re studying in the amount that works for you.
As with most other private student loan lenders, you’ll probably need a cosigner to qualify for a loan from College Ave unless you already have an established credit history. However, College Ave makes it a bit awkward to release your cosigner since you need to be at least halfway through your repayment term before that option becomes available.
Requirements — College Ave doesn’t disclose an exact credit score they require from applicants, but you can expect to have a shot if you or your cosigner have at least 650+ FICO. It also requires a minimum income of $35,000, which we cannot reproach. This is more or less the standard for a nursing student loan program.
Loan terms — College Ave has comparatively unique loan terms of 5, 8, 10, and 15 years. If you want a non-standard loan term, College Ave is the place to get it, helping you find the right payment amount for your income.
It doesn’t charge any origination fee but does charge a late fee of the lesser between 5% of the unpaid amount or $25. With College Ave, you can choose to pay interest-only, flat payments of $25 or make full payments while in school. Alternatively, you can defer payments entirely until you graduate, plus a six-month grace period.
Pros
- + Non-standard loan terms
- + Nine-month grace period for graduate students
- + Offers military deferment
- + Easy and streamlined application process
Cons
- − Charges late fees
5. Splash Financial
Key Features
- Fixed APR: From 2.63%
- Variable APR: From 1.89%
- Estimated minimum credit score: 660
- Type of degree: Undergraduate and graduate
- Minimum loan: $5,000
Why it’s on this list — Splash Financial is not a direct lender and only offers student loan refinancing. That may sound limiting, but if you find the right lending partner to refinance your loan, it can make repaying student loans for nursing school much easier and faster.
To help refinance your loan, Splash partners with Nelnet Banks, Laurel Road, and PenFed credit union to offer rates from three lenders at the same time. It doesn’t cost you anything, and it’s much more convenient than researching lenders one by one.
Requirements — Splash Financial offers cosigned and non-cosigned financing. It’s best for nurses who have already had a chance to develop a bit of credit history and require a minimum income of $55,000.
It’s also for students who have already graduated with at least a bachelor’s degree. If you meet these criteria, there’s a good chance you can find excellent rates for your federal or private nursing student loans.
Loan terms — Since Splash only offers loan refinancing, you won’t be eligible for any kind of academic deferment. Your loan payments will start once the refinance process is complete. However, some lenders offer up to 18 months of hardship forbearance on a case-by-case basis.
You’ll have the option to release the cosigner after 12 consecutive timely payments.
Pros
- + Provides excellent refinance rates
- + Get offers from multiple lenders
- + Refinances federal, private, and Parent PLUS loans
- + Can refinance multiple loans
Cons
- − Only does loan refinancing
6. LendKey
Key Features
- Fixed APR: 4.03%–9.01%
- Variable APR: 1.49%–8.09%
- Estimated minimum credit score: Undisclosed
- Type of degree: Undergraduate and graduate
- Minimum loan: $1,000
Why it’s on this list — Like Splash Financial, LendKey doesn’t originate loans. It’s a service that connects borrowers with lenders to make it easier to find the perfect student loans for nursing students and other fields.
One of the most salient points about LendKey is that none of the loans they offer have academic deferment. If you accept a loan with LendKey, you’ll have to start making payments as soon as you start school.
Requirements — To get a loan from one of LendKey’s lenders, you’ll need a credit score of around 660, but every lender has slightly different requirements. Also, you or your cosigner will need a minimum income of $24,000 and no bankruptcies in the past five years. Therefore, the required income is much lower as opposed to similar lenders.
Compared to other private loans for nursing students, the ones from LendKey have relatively forgiving requirements. The only catch is the total lack of academic deferment.
Loan terms — LendKey loans don’t have origination fees, but they do have late fees, which can be anywhere between $5 and $15. It offers three loan term lengths: 5, 10, and 15 years.
Although you can’t opt for full academic deferment with LendKey, you can still choose between interest-only payments and flat-fee payments of $25 a month.
Cosigner release is available after 24 months, according to most nursing student loans reviews, which is an excellent feature.
Pros
- + Multiple lender offers in one place
- + Up to 18 months of hardship forbearance
- + Low-income requirement
- + Excellent refinancing options
Cons
- − No academic deferment
- − Charges late fees
7. SoFi Student Loans
Key Features
- Fixed APR: 4.23%–11.26% (with autopay)
- Variable APR: 1.87%–11.66% (with autopay)
- Estimated minimum credit score: Undisclosed
- Type of degree: Undergraduate and graduate
- Minimum loan: $5,000
Why it’s on this list — SoFi offers a wide range of installment loans that include home loans, credit card consolidation loans, and student loans for nursing students. Even though it’s not as focused on student loans as some of the other picks on this list, it’s still an excellent student loan originator with several unique perks.
One of those perks is unemployment protection that allows you to put your payments on hold if you unexpectedly lose your job. Additionally, it gives borrowers access to an online tool that helps you figure out how and when you should ask for a raise if you’re employed.
Requirements — SoFi is surprisingly tight-lipped about what criteria borrowers need to meet to get a loan. It doesn’t disclose any credit score requirement, nor does it have an income requirement or debt-to-income ratio.
You’ll just have to contact them directly. We found you can get a rate quote with only a soft credit check, so it’s easy to check if you qualify.
Loan terms — SoFi offers three-term lengths on loans for nursing students: 5, 10, and 15 years. That’s on par with most other lenders, but the minimum loan is slightly higher than most — $5,000.
As for deferment options, SoFi is amply generous. You can choose complete academic deferment or make partial or interest-only payments while studying. Moreover, borrowers who defer their payments receive the standard six-month grace period after graduation before payments start.
Pros
- + Get That Raise®️ tool
- + Unemployment protection
- + Generous repayment options
- + No fees
Cons
- − $5,000 minimum loan
8. Discover Student Loans
Key Features
- Fixed APR: 4.49%–7.74%
- Variable APR: 1.99%–6.99%
- Estimated minimum credit score: Undisclosed
- Type of degree: Undergraduate and graduate
- Minimum loan: $1,000
Why it’s on this list — You probably know Discover from its credit card offerings for young adults. It also offers loan refinancing and a wide range of student loan options and private loans for nursing students in particular.
Discover has special fees for students in health professions, including nursing students and numerous other health fields. The interest rates in the bullet points reflect that, but those are only available for graduate students.
Requirements — Like SoFi, Discover doesn’t disclose much about its requirements for borrowers. Third-party sources find that the average qualified borrower has a credit score of around 750, but that may not hold true for nursing students. It also doesn’t reveal much about debt-to-income ratio requirements or income requirements.
On the bright side, nursing loans for students can be made with or without a cosigner, which is quite a relief for some.
Loan terms — Discover is all about long loan terms. If you opt for one of its graduate loans for healthcare fields, you can only choose a 20-year term. Undergraduate loans are limited to a 15-year term.
It has a generous nine-month grace period if you choose academic deferment. But if you choose to make interest-only payments while in school, you receive an automatic 0.35% interest rate reduction.
Pros
- + Special rates for health professions
- + Nine-month grace period
- + Medical residency deferment
- + Rewards for good grades
Cons
- − Limited loan term options
9. Education Loan Finance
Key Features
- Fixed APR: From 4.50%
- Variable APR: From 1.50%
- Estimated minimum credit score: 680
- Type of degree: Undergraduate and graduate
- Minimum loan: $10,000
Why it’s on this list — If you meet the eligibility criteria, Education Loan Finance may very well have a competitive rate compared to the other lenders on this list. And, since it only requires a soft credit check to get a rate quote, it’s definitely worth a shot.
Education Loan Finance is not without its flaws. It only offers education loans for nursing students in a limited school selection.
Requirements — Education Loan Finance is pretty clear about what it wants from borrowers. For starters, the borrower or cosigner must have a 680 FICO score to apply. It also requires a minimum income of $35,000, which isn’t so bad, but borrowers also must be under 55% debt-to-income ratio to apply.
Student loans for nursing majors or any other field from Education Loan Finance are only available for US citizens and permanent residents.
Loan terms — Education Loan Finance offers full academic deferment for borrowers. In addition, borrowers can choose to make interest-only payments, full payments, or $25 flat-fee payments as soon as they start school.
Borrowers get a six-month grace period after graduating, but Education Loan Finance also offers up to 12 months of forbearance on a case-by-case basis.
Loan terms range from 5–15 years for student loans and 5–10 years for parent loans, so you can choose your preference.
Pros
- + Competitive rates
- + Dedicated loan advisor
- + Excellent customer support
- + No fees
Cons
- − No cosigner release
10. Avenify
Key Features
- Fixed APR: N/A
- Variable APR: N/A
- Estimated minimum credit score: None
- Type of degree: Undergraduate
- Minimum loan: $1,000
Why it’s on this list — Are you worried about your credit history? Don’t be. Avenify doesn’t service traditional private student loans for nursing students, so your credit history doesn’t come into play at all. Instead, what you will get from Avenify is an income share agreement. With this, you get a sum of money while you’re in school in exchange for paying a percentage of your future income to the lender.
So instead of an interest rate, how much you end up paying will depend solely on the terms of your income share agreement and your income.
Requirements — Since your creditworthiness for an income share agreement is based on the future, and your past credit doesn’t matter much, this is a match made in heaven for nursing student loans with bad credit. Nevertheless, you’ll need to be within a year of finishing your program and be enrolled full-time at an accredited nursing school pursuing a Bachelor of Science in nursing.
Loan terms — Typically, an income share agreement ranges anywhere between 1.5% and 7.5% of your future salary. The lower it is, the better for you. Naturally, it also depends on how long you’re paying it back.
Two exceptional features of funding from Avenify to bear in mind are that your payments won’t be due until you’re earning at least $20,000, and the time you spend unemployed still counts toward your total repayment term.
Pros
- + Income share agreement only for nurses
- + Up to $15,000 per semester
- + No credit check required
- + Payments don’t start until you make at least $20,000
Cons
- − Only for undergraduate programs
- − Must be within a year of graduating
How to Choose the Best Nursing Student Loans
It should go without saying that you should exhaust your federal loan options before moving on to private lenders. This guide won’t comprehensively cover what those federal options are, but it will touch on some key aspects you should be aware of.
At any rate, we’ll give you a good overview of what to expect when you’re applying for private student loans, and we can even help you pay them off faster.
Picking the Best Private Loans for Nursing Students
Private lending products aren’t all that different from federal loans. The main differences revolve around interest rates and requirements to get the loans.
First, you should determine whether you qualify for the lender you’re applying to, which usually comes down to your creditworthiness.
Qualifying for a Loan and How a Cosigner Can Help
When you’re applying for a student loan as an undergraduate (or even as a graduate), there’s a good chance your credit history is less-than-ideal. If that’s the case, a cosigner can lend you their creditworthiness to qualify for better terms on your loan.
When you get a student loan for nursing students, a cosigner is desirable, even if you could qualify for the loan yourself, for the following reason. If the cosigner can help you get a better rate on your loan, you could save thousands of dollars in interest payments.
Still, you need to keep in mind that the cosigner is just as responsible for the debt as you are, so both credit scores are affected if you miss payments. If possible, choose a lender that allows you to release the cosigner as soon as you can from the time you get the loan.
Private Loans for Nursing Students with Bad Credit
The harsh truth is that you’re not likely to qualify for most private student loans if you have bad credit. Typically, that’s where a cosigner can be most useful.
However, there’s another option, and it’s one that’s particularly appealing to nursing students. That option is to take an income share agreement.
Income share agreements are like a loan, except instead of paying them off in installments, you pay a percentage of your future salary to the lender. Since nurses are in such high demand and have relatively high salaries, many lenders offer attractive income share agreements for nursing majors.
And, since it’s not a typical student loan, it doesn’t get disbursed to the school directly. If you need nursing school loans to cover living expenses, ISAs are a perfect choice.
Nurse Corps Loan Repayment
Whether you take federal or private loans, the Nurse Corps Loan Repayment program can help you repay your loans. It can cover up to 85% of your unpaid nursing student loan debt.
In exchange for the loan repayment, you’ll need to commit to work for two years in a critical shortage facility or as part of the nurse faculty at an eligible nursing school. You can check all the eligibility criteria on the HRSA website.
With that in mind, you can see your loan options through different eyes. Knowing you can repay most of a loan with a two-year commitment can make it much more appealing.
NHSC Loan Repayment Program
Another of the many nursing student loan repayment options includes the loan repayment from the National Health Service Corps.
Nurses who are awarded entry into the program can have up to $50,000 of their student loan debt repaid. In exchange, nurses will commit to working for two years in a designated health professional shortage area.
The program is available for both part-time and full-time nurses and for federal and private loans.
Federal Student Loans for Nurses
Before you start applying for federal nursing loans (or any other student loans, for that matter), you should fill out a FAFSA form. It’s the first step toward applying for federal loans and will be useful whenever you’re working with your school to secure financial aid.
Federal student loans essentially fall into either subsidized or unsubsidized direct loans. Student loans for nursing programs at this stage aren’t treated differently from other student loans.
Subsidized loans are granted based on financial need, and their interest costs are absorbed by the federal government. Students who apply for unsubsidized loans don’t have to prove financial need and will have to pay for the loan’s interest.
Federal loans are disbursed directly to the school and so may fall short of providing enough for living expenses. If that’s the case, you might consider personal loans or other forms of cost of living loans for nursing students.
Federal Nursing Student Loan From the HRSA
The Health Resources and Services Administration (HRSA) offers four loan programs for students in health professions. These programs provide schools with the necessary funding to offer low-rate loans (a fixed rate is in question) to students.
Among those are the Nursing Student Loans (NSL), which apply to associate, undergraduate, and graduate nursing degrees and are available for any school with a nursing program. Hence, if you’re looking to save money while working to build your medical career, be sure to check these out.
You can apply for the NSL program with an application form from the HRSA.
Also, it’s worth noting that each and every HRSA nursing student loan is federally funded. As such, it qualifies for all the benefits of a federal loan, including:
- lower interest rates
- fixed interest rates
- no credit history needed
- a grace repayment period
- student loan forgiveness options
- and more
Another important point is that the HRSA has made life easier on borrowers in light of the coronavirus pandemic. To help healthcare professionals, nursing student loans COVID relief includes waiving interest on loans through February 28, 2021, and expanded opportunities for administrative forbearance to those who need it.
Conclusion
Getting through your education to become a nurse won’t be a walk in the park. But hopefully, these reviews will help you choose the right loans to make it that much easier.
We all need some help from time to time, and student loans are just a step in the process that you’ll need to overcome. To make it easier, explore our reviews of nursing student loan programs and you’ll surely find the best one for your case.
FAQs
How much is a nursing student loan?
Nurses who finish their degree do so with around $20,000 of debt. The higher the degree, the bigger the debt, so a Master’s of Science in Nursing graduate typically finished with over $40,000 of debt.
Over 70% of students in the field get a student loan for their degree, and there are many loan forgiveness options, which make it a sensible form of credit.
What is a nursing student loan?
Much like any other educational loan, nursing student loans are either federal or private loans that help students with financial needs to pay for their nursing degree.
In addition, there are many other ways nursing students can help pay for their education. There are many federal and state scholarships and other student aid in addition to loans. As a student, you’re well-advised to check with your school’s financial aid office for help finding ways to finance your education.
Do nurses get special mortgages?
Some lenders offer special home loans for nurses and other medical staff. Mostly, this special treatment refers to lower interest rates and personalized lending criteria. However, not all lenders offer these types of incentives.
Additionally, there are many federal and state programs that can help healthcare workers afford home purchases. These programs include the State Housing Initiative Program, Nurse Next Door, and many others.
How to pay for nursing school without loans?
Getting through school without any loans at all might be challenging. It’s a more realistic goal to pay for school with a minimal amount of debt.
One option is to start working at a healthcare facility while you’re in school. You may work as a patient care tech or another position that doesn’t require an advanced degree. Your employer may even offer tuition reimbursement programs.
Can I get a student loan for nursing?
Probably, yes. Federal student loans are usually the easiest to qualify for, but there are numerous private lenders who also offer student loans for nurses. The best nursing student loans from private lenders will require a great credit score, but lenders offer cosigned loans, so bad credit doesn’t necessarily exclude you.