Nursing Student Loans

Chapter 1 INTRODUCTION

Chapter 1 INTRODUCTION

The Nursing Student Loan (NSL) program is similar to the campus-based programs authorized under Title IV of the Higher Education Act, particularly the Federal Perkins Loan, because:

• the Federal Government supplies most of the money; and
• the institutions are responsible for administering for details on institutional management of NSL funds.

The source of funding for NSL consists of four components:

• Federal Capital Contributions, or FCC;
• Institutional Capital Contributions, or ICC;
• student repayments; and
• other earnings on the fund (i.e., institutional investment during interim periods when NSL funds are waiting to be awarded to students as loans).