The Higher Educational Aids Board (HEAB) manages and services the State of Wisconsin Nursing Student Loan (NSL) program*. The program provides education loans of $1000 minimum to $3000 maximum per year. The overall lifetime maximum a student can borrow under this program is $15000.

To be eligible for this loan, the student must:

1. be a Wisconsin resident;
2. be enrolled in a participating UW, Wisconsin Technical College, private, non-profit, or Tribal post secondary institution in the state;**
3. be enrolled at least half-time (as determined by the school) in a degree or certificate program leading to a nursing license (RN or LPN), master’s degree in nursing or doctoral degree in nursing;
4. make satisfactory academic progress (per federal student financial aid criteria);
5. intend to graduate within four (4) years if attending a college or university or within two (2) if attending a technical college;
6. demonstrate financial need; and
7. agree to practice full-time as a licensed nurse and/or as a nurse educator in Wisconsin for the term of the forgiveness period.

Complete application. FAFSA completion is required to process. Once all application materials are submitted, agency will create an initial award. School Financial Aid will certify enrollment and amount of award. Funds actually awarded may be reduced by school Financial Aid Office based on entire financial aid available. After initial award by this agency, a loan disclosure statement will be emailed to you.

After certification and award confirmation by School Financial Aid office, the loan will be disbursed directly to the college or university. Subsequent academic year loans are subject to this process.

1. This is NOT a full forgiveness program. The maximum forgivable amount is 50% of the amount borrowed.
2. To earn the forgiveness available under this program, you must (1) complete the program for which the loan was awarded and (2) obtain licensure from the Wisconsin Department of Safety and Professional Services Health Services (if applicable). Thereafter, for each of the first two years the student practices nursing or teaches (as nurse educator) full-time in the State of Wisconsin , 25% of the loan will be forgiven. If the student does not practice nursing/teaching full-time, the amount forgiven will be proportional to the time spent practicing (based upon the employing institution's definition of full time).
3. If the student does not practice nursing/teaching in the State of Wisconsin and/or meet the eligibility criteria, the loan(s) must be repaid. The current interest rate is 5%.
4. If the nursing student falls below half-time enrollment, repayment will commence no sooner than six months after falling below half-time.
5. If a student transfers to another program other than nursing, repayment will commence no sooner than six months after transfer, unless the student qualifies for deferment (attending full-time).

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