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Loan Options

Federal Loan Options

Direct PLUS/Grad PLUS

PLUS loans are available for parents of dependent undergraduate, graduate, or professional students to assist with educational costs. PLUS loan borrowers are subject to a credit check. Dependent students and Graduate or Professional students must complete a FAFSA application. For more information regarding eligibility, interest rates, origination fees, loan limits, repayment, and other requirements, please click on the hyperlink above.

Direct Subsidized Loans

Subsidized Loans are need based loans determined from the students Expected Family Contribution (EFC), calculated by the FAFSA application. Federal loans are low-interest options to assist students with educational costs. Students must be enrolled at least half-time to qualify, and the government pays the interest on subsidized loans while the student is attending college at least half-time, during the six month grace period, and during periods of deferment. For more information regarding eligibility, interest rates, origination fees, loan limits, repayment, and other requirements, please click on the hyperlink above.

Direct Unsubsidized Loans

Unsubsidized Loans are available to undergraduate and graduate students, and there is no financial need requirement. Interest accrues immediately following disbursement and the student is responsible for the interest during all periods. For more information regarding eligibility, interest rates, origination fees, loan limits, repayment, and other requirements, please click on the hyperlink above.

 

State of Wisconsin Loan Option

Student Nursing Loan

The Nursing Student Loan Program is available to Wisconsin undergraduate or graduate residents who are enrolled at least half-time at an eligible in-state institution that prepares them to be licensed as a nurse, either RN or LPN. A student who participates in this program must contractually agree to be employed as a licensed nurse in Wisconsin. For each of the first two years the student works as a nurse or nurse educator, and meets the eligibility criteria, 25% of the loan is forgiven. The balance remaining after forgiveness must be repaid at an interest rate of 5%. If the student does not work as a nurse or nurse educator in Wisconsin and meets the eligibility criteria, the total loan must be repaid at an interest rate of 5%. Students must complete a Free Application for Federal Student Aid (FAFSA), and funding is limited. For more information regarding eligibility requirements, criteria for selection, and additional information, please click on the hyperlink above.

 

Alternative Loan Options

Additional private assistance may be available for students requiring financial assistance, to help cover the cost of college. These loans are issued by private lenders and are not subject to the same provisions as the federal direct lending program. Columbia College of Nursing offers FASTChoice to assist students with comparing private loan options. Students are not limited to the lender list on this website and may find other methods to finance their education. Please keep in mind that options with private lenders may be limited in regards to repayment and loan consolidation options. Please contact the Financial Aid Department if you need further assistance with private loans or visit https://studentaid.ed.gov/types/loans.