Nursing is one of the most in-demand careers in the country, but getting through a nursing program is not cheap. A traditional Bachelor of Science in Nursing (BSN) costs between $40,000 and $120,000. Accelerated BSN (ABSN) programs run $50,000 to $100,000 in as little as 12 to 18 months. Graduate programs like the Master of Science in Nursing (MSN) or Doctor of Nursing Practice (DNP) can cost $60,000 to $160,000.
The average nursing student graduates with roughly $40,000 to $60,000 in student loan debt. The good news: nursing salaries are strong. The median registered nurse (RN) salary is between $80,000 and $95,000 per year, and nurse practitioners earn well above $120,000. That means nursing students are generally well-positioned to repay their loans, but choosing the right loan still matters.
With the One Big Beautiful Bill Act (OBBBA) capping annual Parent PLUS borrowing at $20,000 per year and eliminating Grad PLUS loans entirely, many nursing students now need private loans to cover the gap between federal aid and total program costs. This guide ranks the best private student loan options for nursing students in 2026.
Federal Loans First
Before you consider any private loan, always exhaust your federal student loan options. Federal loans offer income-driven repayment plans, potential loan forgiveness through Public Service Loan Forgiveness (PSLF), and borrower protections that private loans do not.
Here are the current federal student loan rates for the 2025-2026 academic year:
- Direct Subsidized and Unsubsidized Loans (undergraduate): 6.39% fixed APR
- Direct Unsubsidized Loans (graduate): 7.94% fixed APR
- Direct PLUS Loans (parents only, post-OBBBA): 8.94% fixed APR, capped at $20,000 per year
Under the OBBBA, Grad PLUS loans have been eliminated. Graduate nursing students can only borrow up to the standard Direct Unsubsidized Loan limits ($20,500 per year). Parent PLUS loans are now capped at $20,000 per year.
Undergraduate nursing students may also qualify for a Federal Pell Grant of up to $7,395 per year, which does not need to be repaid.
Start by completing the Free Application for Federal Student Aid (FAFSA) to find out what federal aid you qualify for.
What Nursing Students Should Look For in a Private Loan
Not all private student loans are the same. Nursing students have specific needs that make certain loan features more valuable than others.
Grace period length. Nursing programs often include clinical rotations that can extend your time before you start earning a full salary. Look for lenders that offer 6 to 9 months of grace period after graduation. Some lenders offer extended grace periods specifically for health professions students.
Interest rate range. Private loan rates vary widely based on your credit score, cosigner, and the lender. In 2026, fixed rates for private student loans generally range from about 2.89% to 16.49% APR. The rate you receive depends on your creditworthiness.
Repayment flexibility. Features like the ability to skip a payment, switch between repayment plans, or make interest-only payments while in school can make a big difference during a demanding nursing program.
Cosigner release timeline. Many nursing students need a cosigner to qualify for the best rates. Look for lenders that offer cosigner release after 12 to 24 months of on-time payments. This protects both you and your cosigner long-term.
Fees. The best private student loan lenders charge zero origination fees, zero application fees, and zero prepayment penalties. Avoid any lender that charges origination fees.
Best Private Student Loans for Nursing Students
1. Sallie Mae: Best Overall for Nursing Students
Sallie Mae offers a dedicated Health Professions Loan product designed specifically for students in nursing, medical, dental, and other health programs. This makes it the top pick for nursing students in 2026.
Why it stands out for nursing students: Sallie Mae's Health Professions Loan is built for students in clinical programs. It covers up to 100% of school-certified costs and offers multiple in-school repayment options, including deferred, interest-only, and fixed payment options.
- Fixed APR range (graduate): 2.89% to 14.99%
- Key feature: Health Professions Loan product tailored for nursing and medical students
- Cosigner release: Available after 12 consecutive months of on-time principal and interest payments
- Fees: No origination fees, no application fees, no prepayment penalties
- Notable downside: Some borrowers report that customer service response times can be slower during peak periods
Read our full Sallie Mae Student Loan Review for more details.
2. College Ave: Best Grace Period for Health Professions
College Ave offers one of the longest grace periods available, which is especially valuable for nursing students who may need extra time to pass the NCLEX and start working after graduation.
Why it stands out for nursing students: College Ave provides a 9-month grace period for health professions students. That extra time beyond the standard 6 months can help new nurses get settled into their first position before loan payments begin.
- Fixed APR range: 3.23% to 15.99%
- Key feature: 9-month grace period for qualifying health professions students
- Cosigner release: Available after 24 consecutive months of on-time principal and interest payments
- Fees: No origination fees, no application fees, no prepayment penalties
- Notable downside: The 24-month cosigner release timeline is longer than some competitors
College Ave also covers 100% of the cost of attendance (COA), so you can borrow enough to fill any gap left after federal aid.
Read our full College Ave Student Loan Review for more details.
3. Earnest: Best for Repayment Flexibility
Earnest stands out for its flexibility features, making it a strong choice for nursing students who want more control over their repayment schedule.
Why it stands out for nursing students: Earnest offers a skip-a-payment feature that lets you pause one payment every 12 months (after making at least your first 6 payments on time). For nurses who may face income fluctuations early in their careers, this is a meaningful safety net.
- Fixed APR range: 2.89% to 16.49%
- Key feature: Skip-a-payment option (once every 12 months) and a 9-month grace period
- Cosigner release: Not available (cosigner remains on the loan for the full term)
- Fees: Zero fees of any kind, including no origination, application, or late fees
- Notable downside: No cosigner release option, which means your cosigner is committed for the life of the loan
Read our full Earnest Student Loan Review for more details.
4. SoFi: Best Member Benefits
SoFi pairs competitive rates with a suite of member benefits that go beyond the loan itself, making it appealing for nursing students who want long-term career and financial support.
Why it stands out for nursing students: SoFi offers career coaching, financial planning services, and unemployment protection at no extra cost. If you lose your job, SoFi may pause your payments and help you find a new position. For new nurses entering a competitive job market, these benefits add real value.
- Fixed APR range: 3.23% to 15.99%
- Key feature: Free career coaching, financial planning, and unemployment protection for all members
- Cosigner release: Available after a minimum of 24 consecutive on-time payments (additional requirements apply)
- Fees: No origination fees, no application fees, no late fees, no prepayment penalties
- Notable downside: Autopay discount is required to access the lowest advertised rates
Read our full SoFi Student Loan Review for more details.
5. Ascent: Best for Borrowers Without a Cosigner
Ascent is the standout option for nursing students who do not have a cosigner. Its Outcomes-Based Loan uses your school, major, and graduation date to determine eligibility rather than requiring a cosigner or strong credit history.
Why it stands out for nursing students: Nursing students at accredited programs are strong candidates for Ascent's Outcomes-Based Loan because nursing graduates have high employment rates and solid starting salaries. This means even students without a cosigner or established credit may qualify.
- Fixed APR range: 3.23% to 15.99%
- Key feature: Outcomes-Based Loan that does not require a cosigner or credit history
- Cosigner release: Available after 12 consecutive months of on-time payments (on cosigned loans)
- Fees: Zero fees, including no origination fees, no application fees, and no late fees
- Notable downside: The Outcomes-Based Loan is only available at select schools and for select majors
Read our full Ascent Student Loan Review for more details.
How to Choose the Right Loan for Your Nursing Program
The best loan for you depends on the type of nursing program you are in.
BSN students (4-year programs). You will likely rely heavily on federal Direct Loans for the first four years. If you need additional funding, Sallie Mae or College Ave are strong options because they cover 100% of school-certified costs and offer health-professions-specific terms.
ABSN students (accelerated 12-18 month programs). Accelerated programs are expensive per semester and often exceed federal loan limits quickly. Private loans become essential. Look at Earnest or SoFi for flexible repayment options, since you will be entering the workforce quickly and want a loan that works with your transition timeline.
MSN students. With Grad PLUS loans eliminated under the OBBBA, MSN students face a bigger gap between federal aid and total costs. Sallie Mae's Health Professions Loan is designed for this situation. Ascent's Outcomes-Based Loan is also worth exploring if you lack a cosigner.
DNP students. DNP programs can cost $100,000 to $160,000 and last 3 to 4 years. You may need to combine federal Direct Unsubsidized Loans with private loans from multiple lenders. Prioritize lenders with the lowest rates and longest grace periods, like College Ave.
For all program types, compare at least three lenders before borrowing. Use rate comparison tools to see your personalized rates without affecting your credit score. Create your free CollegeLens plan to see how student loans fit into your full college funding picture.
Nursing-Specific Loan Repayment Programs
Private student loans are not the only way to manage nursing school debt. Several repayment assistance programs exist specifically for nurses.
NURSE Corps Loan Repayment Program. Run by the Health Resources and Services Administration (HRSA), the NURSE Corps program pays up to 85% of qualifying nursing education debt in exchange for two years of service at a Critical Shortage Facility or as nursing faculty. This is one of the most generous repayment programs available.
State nursing loan repayment programs. Many states offer loan repayment assistance for nurses who work in underserved areas or at qualifying facilities. Programs vary by state, but some cover $10,000 to $40,000 or more in exchange for a service commitment. Check with your state's department of health or higher education agency for current offerings.
Hospital and employer repayment programs. Some hospitals and health systems offer student loan repayment assistance as an employment benefit. Amounts typically range from $2,000 to $10,000 per year. This is becoming more common as hospitals compete to recruit and retain nurses.
These programs are not private loans. They are complementary tools that can reduce your total repayment burden after graduation, regardless of which loans you use to pay for school.
Frequently Asked Questions
Can nursing students get special student loan rates?
Some lenders, like Sallie Mae, offer loan products specifically designed for health professions students, including nursing. These may come with features like extended grace periods or tailored repayment options. However, the interest rate you receive is still based on your credit profile and cosigner status, not your major.
How much can I borrow in private student loans for nursing school?
Most private lenders allow you to borrow up to 100% of the school-certified cost of attendance (COA). This includes tuition, fees, room and board, books, supplies, and other living expenses. The exact amount depends on the lender and your school's certification.
Do I need a cosigner for a nursing student loan?
Most undergraduate nursing students will need a cosigner to qualify for competitive rates. Ascent's Outcomes-Based Loan is an exception that does not require a cosigner. Graduate nursing students with established credit and income may qualify on their own with some lenders.
What is the best grace period for nursing student loans?
College Ave and Earnest both offer 9-month grace periods for qualifying borrowers. This is longer than the standard 6-month grace period offered by most lenders and gives new nurses more time to pass the NCLEX, find a job, and start earning before payments begin.
Can I use private student loans for an accelerated nursing program (ABSN)?
Yes. Private student loans can be used for any accredited nursing program, including accelerated BSN programs. Since ABSN programs are often more expensive per semester than traditional BSN programs, private loans are commonly used to fill the gap after federal aid.
Will taking out student loans affect my nursing license?
No. Student loan debt does not affect your ability to obtain or maintain a nursing license. However, defaulting on student loans can affect your credit score, which some employers may check during the hiring process.
Should I choose a fixed or variable rate for my nursing student loan?
Fixed rates stay the same for the life of the loan, which makes budgeting predictable. Variable rates may start lower but can increase over time. For nursing students who plan to repay loans over 5 to 15 years, a fixed rate is generally the safer choice because it protects you from rising interest rates.
Can I refinance my nursing student loans later?
Yes. Many of the lenders listed in this guide, including SoFi and Earnest, also offer student loan refinancing. Once you are working as a nurse with a steady income and good credit, refinancing can help you lower your interest rate. Be aware that refinancing federal loans into a private loan means you lose access to federal benefits like income-driven repayment and PSLF.
The Bottom Line
Nursing students have strong options for financing their education in 2026. Start with federal student loans and free aid like Pell Grants. When you need additional funding, compare private lenders based on rates, grace periods, cosigner release policies, and fees.
Sallie Mae is the best overall choice for nursing students because of its dedicated Health Professions Loan. College Ave offers the best grace period. Earnest provides the most repayment flexibility. SoFi adds valuable member benefits. Ascent is the best option if you do not have a cosigner.
After graduation, look into NURSE Corps and state loan repayment programs that can significantly reduce your debt in exchange for service.
Create your free CollegeLens plan to compare your federal and private loan options and build a complete funding strategy for your nursing program.
-- Sravani at CollegeLens