For students using William D. Ford Direct loans, there is a cumulative limit for dependent students of $31,000 and for independent students of $57,500 of which no more than half can be subsidized.
For transfer students, the amount borrowed at other schools counts toward the cumulative totals. The maximum yearly amounts that can be borrowed are:
- $5,500 for a dependent freshman and $9,500 for an independent freshman
- $6,500 for a dependent sophomore and $10,500 for an independent sophomore
- $7,500 for a dependent junior or senior and $12,500 for independent juniors or seniors up to the cumulative limits. If a student is planning on attending year round, only amounts not used during the Fall and Spring semesters may be used in the summer.
FYI Regarding Student Loans:
- Your William D. Ford Direct Loans will be credited to your account when the proceeds arrive from the government but not before the end of the drop/add period. For the funds to post, you must be finalized with the Business Office and have attended a class.
- You will need to get a PIN number at www.pin.ed.gov.
- You will need to fill out a FAFSA each year at www.fafsa.gov.
- If you have borrowed under the Stafford Loan program or the Direct Loan program, you can see your cumulative borrowing at www.nslds.ed.gov.
- If you have questions, please email firstname.lastname@example.org or call (901) 321-3305.
Also, if you have student loans, there’s a really cool new loan forgiveness program geared towards nurses. Many of the hospitals in our region fall under that umbrella for forgiveness should you remain employed there or any other one of the qualifying hospitals upon completion of your BSN or MSN. Check out the program at: www.hrsa.gov/loanscholarships/repayment/nursing
Tuition Reimbursement Policies:
For those who will be receiving any type of tuition reimbursement benefit, you will need to contact Mrs. Donna Crutcher in the Business Office at (901) 321-3894 at least two weeks prior to the start of the first day of classes. She will arrange a payment plan with you, as well as schedule the release of your information back to your employer.
Scholarship Opportunities To Check Out:
- Navy Nurse Candidate Program: Provides full cost of tuition and fees and books in exchange for service. Contact Lt. Jesse C. Louis Jr. in Memphis at (901) 573-3931.
- Scholarships for Nursing CampusRN has additional sources of scholarships that are more detailed for TN, MS, AR and GA residents (as well as area of expertise) may be found in the Nursing Program office in Buckman Hall 328, via phone at (901) 321-3339 or via email at email@example.com