Federal Nursing Student Loan

Loan Disclosure Information


University of San Francisco

2130 Fulton Street San Francisco, CA 94117


Average Annual Loan Amount: $4,000
Aggregate Loan Limit: $17,000

Your Interest Rate during the life of the loan: 5%

Your rate is fixed. This means that your rate will not vary from the rate on this form. Interest begins to accrue when you enter repayment, typically 9 months after you cease to be enrolled at least half-time. Interest does not accrue during deferment or grace periods.

Loan Fees:

Late Payment Fee: 6% of the past due payment after 60 days.

Returned Check Fee: up to $25

Loan Cost Examples:

The total amount you will pay for this loan will vary depending upon when you start to repay it. This example provides estimates based upon two (2) different repayment options available to you while enrolled in school. The Amount Provided figure is used as an example and is not to meant reflect your actual loan amount. An average annual USF Nursing Loan award is $4,000.

Loan Cost Examples

Repayment Options (While enrolled in school) Amount Provided
(Amount provided directly to you or your school)
Interest Rate
(Fixed Rate)
Loan Term
(How long you have to pay off the loan)
Total Paid over 10 Years


Make no payments while enrolled in school. Interest will not accrue during this time.

$10,000 5% 10 years Starting after the deferment and grace periods $12,728


Make minimum payments while enrolled in school. Payments made while enrolled will credited entirely to the principal balance

$10,000 5% 14 years, 9 months Starting from the date of your first payment $11,95

About These Examples:

The first repayment example assumes that you remain in school for 4 years and have a 9 month grace period before beginning repayment. It is based on the fixed interest rate and assumes all payments are made on time. Repayment will last for 10 years beginning from the date of your first payment. The second example is based on the same assumptions, with the additional assumption that you will make minimum monthly payments of $50 while enrolled in school. As no interest is accruing while you are enrolled, these payments would go entirely to the principle balance of your loan. 


Federal Direct Loan Interest Rates

Undergraduate 2021 - 2022 Aid Year
(07/01/2021 – 06/30/2022)
2022 - 2023 Aid Year
(07/01/2022 – 06/30/2023)
2023 - 2024 Aid Year
(07/01/2023 – 06/30/2024)
Direct Subsidized Loan 3.73% 4.99% 5.50%
Direct Unsubsidized Loan 3.73% 4.99% 5.50%
Direct Parent PLUS Loan 6.28% 7.54% 8.05%
Graduate or Professional 2021 - 2022 Aid Year
(07/01/2021– 06/30/2022)
2022 - 2023 Aid Year
(07/01/2022– 06/30/2023)
2023 - 2024 Aid Year
(07/01/2023– 06/30/2024)
Direct Unsubsidized Loan 5.28% 6.54% 7.05%
Direct Graduate PLUS Loan 6.28% 7.54% 8.05%

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Eligibility Criteria • Borrower Must be enrolled at least half-time in the USF School of Nursing.

Bankruptcy Limitations • If you file for bankruptcy you may still be required to pay back this loan.

You may qualify for Federal education loans.

Please complete a Free Application for Federal Student Aid (FAFSA) to have your federal student loan eligibility reviewed. 

More information about loan eligibility and repayment, deferral, or forbearance options is available in your loan promissory note or upon request by contacting the Financial Aid Office.

Federal Loan Promissory Notes (NSL)

Once the Office of Financial Aid awards you a Nursing Student Loan (NSL), signed promissory notes are required for disbursement of your loan onto your student account. Promissory notes must be signed by the University Census date. (See current Academic Calendar for actual dates.)

Promissory notes for the Nursing Student Loan will be made available on-line for e-signature at uasconnect.com. This must be completed each award year. You will be sent an email from uasconnect.com when the site is available.


Student Accounts facilitates the repayment of the NSL Programs with the assistance of an outside billing agency, University Accounting Service.

NSL awards will be cancelled for students who fail to sign promissory notes by the University Census Date. (See current Academic Calendar for actual dates.)

Once you graduate, leave school or drop below half-time, you will need to contact Student Accounts for an exit interview (in addition the Office of Financial Aid's exit interview).