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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 ¿ìèÊÓƵ 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 to complete required loan documents with our loan service partner, ECSI. Students are typically notified if they receive this award at the end of summer. 

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. 

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.

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 . 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.