The purpose of the Nursing Student Loan Program (NSL) - Graduate Studies is to increase the number of qualified nurses within the healthcare profession to address the nursing workforce shortage.

Regis makes loans from the funds made possible through collaboration with HRSA / federal government. The program offers low interest rate loans (5%) to borrowers who are seeking to further their education within graduate nursing studies. The loan limits are preset by HRSA and can be noted below.

Questions? If you have any questions please feel free to email us at

Academic Year(s)Limit for First Two YearsLimit for Final Two YearsAggregate Loan Limit
  • Eligibility

    Students of the Regis Graduate Nursing Programs who are currently in good standing with the university may be eligible to apply for this program. Applicants must:

    Citizenship Status

    • A student applicant must be a citizen or national of the United States, or a lawful permanent resident of the United States, the Commonwealth of Puerto Rico, the Northern Mariana Islands, the Virgin Islands, Guam, American Samoa or the Trust Territory of the Pacific. A student who remains in this country on a student or visitor's visa is not eligible.

    Academic Status

    • The student must be enrolled or accepted for enrollment as a full-time or half-time student in a nursing school participating in the NSL program. The student must be in good standing, as defined by the school, and capable in the opinion of the school of maintaining good standing in the course of study. Schools may choose to apply the satisfactory academic progress guidelines for programs under Title IV of the Higher Education Act, as amended, although statute and regulations specific to the NSL program do not require it. Should an NSL recipient cease to be a student in good standing because of academic failure, then the school is obligated to discontinue disbursement of NSL funds.
    • Students must make satisfactory academic progress and remain in their program to maintain loan eligibility.

    Enrollment Status

    • Students must be enrolled full-time or half-time in programs leading to the following degrees to be eligible for NSL funds: Graduate Degree (MSN or DNP)

    Financial Need

    • The NSL is a need-based loan, and that need will be determined by the office of financial aid upon completion of your FAFSA, additional documentation may be requested by financial aid to assist in making this determination.

    Federal Loans

    • Prior student loans must not be in default and student must remain in good standing.
  • Application

    The NSL Applications are due before the start of the student’s first semester and then every fall thereafter in which funds are sought. You will need to be accepted to your academic program before applying for NSL funding.

    To apply, please submit a completed Confirmation of Commitment to

    Once all application materials have been submitted, you will be contacted via email regarding the outcome of your application. If approved, and award letter will be provided to you, and you will meet with financial aid to continue with the process for loan disbursement(s).

    Approvals are subject to the availability of funds. Once approved, additional documents and a virtual Entrance Counseling session are required.

    Note: The student has an obligation to report changes in financial circumstances, including receipt of additional funds. Based upon information received by the institution, the student's award should be adjusted to reflect the change as follows:

    • increases of awards will be limited to the amount of NSL funds available to the institution and statutory maximum for individual awards; and
    • if the change in the student's situation results in resources exceeding expenses, the institution must adjust the budget or the financial aid package to assure that there is no over award.
  • Grace Period

    The grace period immediately follows completion or termination as a full-time student or a half-time student for loans received. During the grace period, which is nine consecutive months long, repayment of principal is not required, and interest does not accrue. If the borrower resumes full-time or half-time studies at the same or another nursing school during the grace period, the interrupted grace period is treated as if it did not begin. In this case, the borrower is required to notify the lending school of his or her continued student status by completing a deferment form and submitting it to the loan collections office.

  • Repayment Period

    Installment payments are to be made during the 10-year period immediately following the expiration of the grace period and excluding any allowable periods of deferment.

  • Interest

    A uniform interest rate of five percent per year applies to all loans. Interest is computed on the unpaid principal balance and begins to accrue upon expiration of the grace period unless a borrower is eligible for deferment status.

  • Prepayment

    The borrower may, at his or her option and without penalty, prepay all or any part of the principal and accrued interest at any time.

  • Acceleration

    If the Borrower fails to make a scheduled repayment or fails to comply with any other term of the Promissory Note, the entire unpaid balance of the loan, including interest due and accrued and any applicable penalty charges, will, at the option of the school, become immediately due and payable.

  • Deferment

    A deferment period on an NSL means that interest does not accrue, and the borrower does not have to make payments on the loan. The following three statements describe the general mechanics of NSL deferments:

    • Deferments are only available for participation in certain activities prescribed in statute and regulations.
    • Deferment periods do not count against the borrower's right to repay the loan within 10 years. For example, a borrower who has used three years of deferments still has a total of 10 years-not seven years-to repay the NSL
    • Borrowers are allowed to move in and out of deferment and repayment. For example, a borrower may be in repayment, then participate in an activity for which deferments are available, go back into repayment, and then begin another deferrable activity.

    Those who are eligible are:

    • Borrowers who perform active duty as a member of a uniformed service (Army, Navy, Marine Corps, Air Force, Coast Guard, the National Oceanic and Atmospheric Administration Corps, or the U.S. Public Health Service Commissioned Corps) and or those who volunteer under the Peace Corps Act are eligible for deferment for up to three years.
    • NSL borrowers who have entered repayment may receive additional deferments for up to 10 years for full-time or half-time enrollment in a collegiate nursing school. The program in which the borrower is enrolled must lead to an additional graduate degree in nursing

    Note: Borrower who is employed by one of the uniformed services in a civilian capacity or is part of VISTA are not eligible for deferment

    During periods of deferment, interest on the loan continues to accrue but is not required to be paid during this period. During the period of deferment, the borrower may repay the interest if they wish but is not required to do so.

  • Death and Disability

    NSLs may be canceled because of the death of the borrower, or because the borrower has become permanently and totally disabled.

  • Forbearance

    Regis may, in its discretion, place the Borrower’s NSL loan in forbearance whenever extraordinary circumstances such as poor health or hardship temporarily affect the Borrower’s ability to make scheduled loan repayments.

    During periods of forbearance, interest continues to accrue on the unpaid principal balance of the loan. Further, a minimum payment must be made on all accrued interest during the period in which the borrower is in forbearance (e.g., six months, one year). Even though a borrower obtains forbearance, the maximum NSL repayment period remains 10 years, including the time during which payments on the NSL are in forbearance.

    Note that penalties are not charged to borrowers with loans in forbearance-provided that the borrower is complying with the terms of forbearance agreed upon by the borrower and the school-since a loan in forbearance is not considered to be past due.

  • Default

    Failure of the borrower to make payments as required by the NSL borrower’s Promissory Note and repayment agreement.

    If the Borrower fails to comply with any other term of the Promissory Note.