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If you're preparing for a career in nursing or healthcare administration in Arizona or Florida, we have just the loan for you! Southwest offers its Nursing Advantage Loan Program, designed to save you the most money possible on your federal Stafford loans. With this loan, your interest rate will be the absolutely lowest available - 2.05!
Some things are as good as they seem!
- Reduce your interest rate by as much as 3.25%! Our 2.05%* interest rate on a federal Stafford loan is one of the lowest rates available and you pay less over the life of your loan! On a $10,000 loan, you can save approximately $1,973!
- Get more money to pay for school upfront with our 0% origination fee*. On a $10,000 loan, that's an additional savings of $300!
- The Nursing Advantage Loan Program is only available to students attending an eligible school in the states of Arizona and Florida.
Through the Nursing Advantage Loan Program, if you are studying to become a nurse or nurse-administrator at a healthcare facility, or a nurse who is enrolled in continuing education courses to further your professional skills or licensing, you can receive these special discounts beginning with your first loan payment, when your employer certifies that you are working full-time in a public or private healthcare facility.
How do I qualify for this program?
- Be enrolled in a professional nursing or practical nursing program approved by the Arizona or Florida State Board of Nursing.
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Have been offered a federal Stafford loan from your school and then choose Southwest Student Services Corporation as your lender:
- If you plan to attend school in Arizona, the loan must be disbursed after July 1, 2003, using lender code 830630.
- If you plan to attend school in Florida, the loan must be disbursed after October 1, 2002, using lender code 831245.
- Please contact your school's Financial Aid Office if you have not been offered a federal Stafford loan.
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Work in Arizona or Florida as a full-time employee at an eligible healthcare program or facility that requires a nursing license of:
- Licensed Practical Nurse (Arizona & Florida)
- Registered Nurse (Arizona & Florida)
- Registered Nurse Advanced Practice Certification (Arizona)
- Advanced Registered Nurse Practitioner (Florida)
- Annually, submit your certification of full-time employment in an Arizona or Florida eligible healthcare program or facility.
Southwest will do the rest!
Here is a copy of the Nursing Advantage Loan Program brochure. To view or print you must have Adobe Acrobat Reader® software, version 4.0 or greater on your computer.
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* The current 2.05% interest rate is calculated by applying a 3% interest rate reduction to the prevailing federal Stafford loan rate plus an additional 0.25% interest rate reduction for borrowers enrolled in the automatic debit program. For borrowers who elect NOT to participate in the automatic debit payment program, the current interest rate is 2.30%. The interest rate for the Nursing Advantage Loan Program is based on the current variable Stafford loan interest rate of 5.30%, which is in effect through June 30, 2006. However, the reduced interest rate can never fall below 0%, and no rebates or credits will be issued to a borrower's account based on changes to the prevailing interest rate. If the borrower is not employed in this career field the interest rate will revert to the current federal Stafford loan interest rate going forward. The 0% origination fee reduction applies to all federal Stafford loans disbursed in Arizona after 7/1/03 or in Florida after 10/1/02.
If you have any questions or want more information, please contact us.
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