Nursing Student Loans are low-interest (5%), long-term educational loans available to upper division undergraduate and graduate students who are enrolled in nursing degree programs. If you qualify, you may borrow up to $4,000 per year during the last two years of study, not to exceed $13,000 for all years of study. Priority is given to students who demonstrate exceptional financial need. If you receive an NSL, you will not be required to start repaying it, nor will any interest be charged, until nine months after you cease to be enrolled on at least a half-time basis in the nursing program. Under certain conditions of advanced professional training or employment, payments may be deferred or canceled.