- Beyond YSN
Scholarships and Loans
Types of Financial Aid
Students are admitted to degree programs without regard to their ability to pay. Financial aid is awarded based on demonstrated financial need. U.S. citizens are awarded federal student loans. Students in the Master’s and DNP programs are also be eligible for scholarships, in accordance with federal regulations and school policies. International students in the Master’s program are eligible for scholarships. Part-time Masters students and Post-Master’s Certificate students are eligible for loans only. YSN offers all incoming Ph.D. students a full funding package.
Scholarships for Masters Students
YSN Scholarships are awarded to full-time students with demonstrated need beyond federal loans. YSN also offers a limited number of merit-based scholarships to incoming students who demonstrate outstanding academic achievement, leadership capacity, and overall excellence. Merit scholarships are awarded by the Admissions Committee, based entirely on the applicant’s admissions materials. No separate application is necessary. The merit scholarships are awarded upon matriculation and are renewed annually as long as the student maintains full-time enrollment and a cumulative grade point average (GPA) of 3.40 or higher.
Scholarships for Doctor of Nursing Practice Students
D.N.P. candidates are eligible for financial aid in the form of both loans and scholarships (Diers Scholarships, Jonas Nursing Scholarships). U.S. citizens must complete the Free Application for Federal Student Aid (FAFSA) online. All students wishing to receive financial aid must also complete the School of Nursing Financial Aid Application. D.N.P. applicants must complete these applications by March 1, 2017.
Federal Direct Loans
Federal Direct Loans are available up to a limit of $20,500 per year. This loan will accrue interest at the rate of 5.84% from the date of disbursement and has a 1.068% origination fee. Borrowers have ten or more years to repay.
Nursing Student Loans
Nursing Student Loans are awarded after Federal Direct Loans to a limited number of students with demonstrated need. The interest rate for this loan is 5%, but it does not accrue interest until repayment begins, nine months after graduation. Borrowers have ten years to repay.
Direct Graduate PLUS Loans
The Direct Graduate PLUS Loan is a federal student loan with a fixed interest rate of 6.84% and has a 4.272% origination fee. A credit check is necessary, but only adverse credit will cause a denial. Graduate students are eligible for any amount up to the Cost of Education (also called Student Budget) minus other financial aid. Repayment can be deferred while the student is enrolled, but interest accrues from the date of disbursal.
All students are encouraged to seek outside scholarships from their employer, alma mater, organizations with which they are affiliated, and via Web site searches. Students must inform the Financial Aid Office of any outside support, as awards may need to be revised. Revisions, when necessary, begin with loans, not scholarships. A list of outside scholarships is available under Sources of Aid.