Federal Nursing Loan
Questions?
The Federal Nursing Student Loan is a need-based loan available to students enrolled in Illinois Wesleyan University’s Nursing program.
Funding for this loan is provided through a federal program administered by the U.S. Department of Health and Human Services, while Illinois Wesleyan University serves as the lender. Eligibility is determined through information provided on the Free Application for Federal Student Aid (FAFSA).
Because funding is limited, receiving a Federal Nursing Student Loan is not guaranteed, and award amounts may vary from year to year. You can learn more about these loans by visiting the U.S. Department of Health & Human Services website.
Quick Facts
- Funding Source - U.S. Department of Health and Human Services
- Current Interest Rate - 5%
- Lender - Illinois Wesleyan University
- Financial Need Required - Yes
- Enrollment Requirement - At Least Half-Time
- Major Requirement - Nursing
- FAFSA Required - Yes
- Loan Servicer - Heartland ESCI
Annual Borrowing Limits
For the 2026-27 academic year, maximum annual loan amounts are:
- Freshmen and Sophomores: Up to $6,936
- Juniors and Seniors: Up to $9,338
Students are not guaranteed to receive the maximum annual amount.
Eligibility Requirements
To receive a Federal Nursing Student Loan, you must:
- Be enrolled in the Nursing program.
- Demonstrate financial need based on FAFSA information.
- Be enrolled at least half-time.
- Maintain Satisfactory Academic Progress (SAP).
- Be a U.S. citizen, national, or eligible non-citizen.
- Meet all other federal and institutional financial aid eligibility requirements.
How to Apply
Students are automatically considered for the Federal Nursing Student Loan when they submit the FAFSA and meet the eligibility requirements. If a Federal Nursing Student Loan is included in your financial aid package, additional documentation will be required before funds can be disbursed.
Important Information
Loan documents are completed through Heartland ECSI, the loan servicer for Federal Nursing Student Loans.
Beginning in May, students who have been awarded a Federal Nursing Student Loan will
receive an email from webmaster@ecsi.net with instructions for completing the required loan documents. Please wait until you
receive this notification before attempting to complete the loan requirements.
Next Steps After Receiving a Loan Offer
If a Federal Nursing Student Loan is included in your financial aid package, complete the following steps each academic year.
- Accept Your Loan Federal Nursing Student Loan through your MyIWU account or by returning
a signed copy of your financial aid offer to the Financial Aid Office.
- Required each year.
- Complete the Master Promissory Note
- The Master Promissory Note (MPN) is the legal agreement outlining your promise to repay the loan according to its terms and conditions.
- Review the Loan Approval Disclosure
- This disclosure provides important information about the loan amount, interest rate, fees, and repayment terms.
- Complete the Self-Certification Form
- This federally required form confirms your enrollment status and educational costs.
- Review the Final Loan Disclosure
- This disclosure provides a final review of your loan information and includes your right to cancel the loan within the applicable timeframe.
All required loan documents must be completed before loan funds can be disbursed to your student account.
Loan Servicing
Illinois Wesleyan University partners with Heartland ECSI to service both Federal Nursing Student Loans and IWU Loans.
Heartland ECSI
Website: Heartland ECSI
Phone: (888) 549-3274
Heartland ECSI assists borrowers with loan documentation, billing, repayment, and account servicing.
