Federal Nursing Loan Program
Federal Nursing Loans are low-interest, long-term loans made through the University to help undergraduate and graduate students pay post secondary educational costs. Students must be enrolled at least half time and be admitted to the College of Nursing. The Nursing Loan is a federal loan (Health and Human Services), administered by PSU on a revolving loan fund basis, (i.e. while the fund is making loans to students, it is also receiving repayments of earlier loans).
The annual interest rate charged on the unpaid balance of the Federal Nursing Loan is 5%.
How to Apply!
To apply for a Nursing Loan, file the Free Application for Federal Student Aid (FAFSA) for the Federal Financial Aid programs and complete a PSU data form (available through the PSU Financial Assistance or their website). When completing the FAFSA, PSU's school code is 001926. Priority consideration is given to those who file a FAFSA by February 15 and whose financial aid file is complete by March 15.
"Grace Period" is the period of time before the borrower must begin or resume repaying a loan. The grace period is a period of time (generally nine months) that begins immediately after the borrower ceases to be enrolled as at least a half-time student.
Repayment of the Nursing Loan begins when the grace period ends. Eligibility for a grace period depends on the type of loan that you received; consult your promissory note for the specifics of your loan. At the time a borrower drops below half-time enrollment or leaves school, Pittsburg State University must complete an exit interview during which pertinent information and a repayment schedule are provided to the borrower. The repayment schedule contains the number of payments, interest rate, and date of the first payment and frequency of payments. Loan payments are due on the 15th day of each month. Monthly payment amount depends on the amount borrowed. The repayment period may not exceed 10 years.
Loan Payments and Billing
As payments become due, interest accrues on your unpaid balance at an Annual Percentage Rate of 5%. Payments are based upon the total amount borrowed and are subject to a minimum of $40 per month.
PSU has contracted with Education Computer Systems, Inc. (ECSI), an outside billing & processing company. PSU is still the lender for your loan. For your convenience, ECSI offers the following payment options.
Mail checks to:
Pittsburg State University
181 Montour Run Road
Coraopolis, PA 15108-9408
For any questions regarding your account, contact an ECSI customer service representative by:
ECSI contact information can be found at https://www.ecsi.net/bwr/contacts.html
Borrowers may access their account information at http://ecsi.net The school code for PSU is 5L.
The Nursing Education Loan Repayment Program (NERP) repays registered nurses' educational loans in exchange for service in critical shortage facilities located in areas experiencing a shortage of nurses. The Health Resources and Services Administration (HRSA) accept applications annually. For complete eligibility and application information, visit HRSA's website at http://bhpr.hrsa.gov/nursing/loanrepay.htm.
The National Health Service Corps (NHSC) offers loan repayment for primary care nurse practitioners and certified nurse midwives who have qualifying education loans and serve in a community of greatest need. For complete information visit http://nhsc.bhpr.hrsa.gov/applications/lrp.
Deferments and Forbearance
Under certain circumstances, students can receive a deferment or forbearance on their Federal Nursing Student Loan, as long as the loan is not in default. During an authorized period of deferment, no interest accrues on the loan. During an authorized forbearance, interest continues to accrue, however, and the student is responsible for paying the interest. For more information on deferment and forbearance options, borrowers should contact ECSI at (888)549-3274.
Deferment and forbearance forms may be viewed at printed at the following website:
You must contact ECSI or our office if:
Cashiers and Student Accounts Office, Pittsburg State University, Pittsburg, KS 66762
Phone: 620-235-4164 Fax: 620-235-6056 Email: firstname.lastname@example.org