Nevada System of Higher Education

The two main Nevada financial aid programs are the Millennium Scholarship and the Nevada Student Incentive Grant.

The Nevada System of Higher Education oversees the Millennium Scholarship, an award of up to $960 per semester for a maximum of six years. The award is prorated by credit hour ($40 per credit, lower division at a community college; $60 for upper division and state college students; and $80 for private school students) and can only be received for 12 credits per semester.

Requirements include:

• graduation from a Nevada school, with at least a 3.25 GPA, passing the Nevada High School Proficiency Examination, and completing the core curriculum
• being a citizen of Nevada for at least 2 years in high school, and enrolled in an eligible Nevada college for a minimum of 6 credits in a degree program
• maintaining a 2.6 GPA during your first year in college, and 2.75 after that- if you lose the scholarship, you can get it back, but if you lose it a second time, you cannot get it back again

The Nevada Incentive Grant is need-based aid in amounts ranging from $200 to $4,000.

(Check for other Nevada college grants and scholarships to apply for.)

Nevada schools used both the Direct Federal Student Loan program and the Federal Family Education Loan Program (FFELP) for their federal student loans , but now that the FFELP has ended, all schools have switched to Direct loans.

Check your Nevada FAFSA deadline to make sure your application is on time. If you need to use private student loans in addition to the federal ones, remember to check credit union lenders, too.

Nevada is a member of the Western Interstate Commission for Higher Education (WICHE). In addition to exchange programs with other states, Nevada WICHE offers several programs giving financial aid for college:

The HEALTH CARE ACCESS PROGRAM (HCAP)- which features either:

1. an annual 'support fee' paid directly to your in or out of state school
or
2. a loan repayment program paid to your lender when you finish school

Out-of-state degree programs are:

• Nursing – Masters Level- $2,900 for 2 years
• Nursing- Ph.D. Level- $5,600 for 2 years
• Pharmacy- $6,500-$9750 for 4 years
• Physician Assistant- $10,900 for 2 years or $14,533 at the University of Washington MedEx

In-state degree programs are:

• Undergraduate Nursing- $2,900 for 2 years
• Physical Therapy - UNLV only- $7,800 for 1st Year, $6,750 for 2nd Year, $1,100 for 3rd Year

Loan Repayment degree programs are:

• Dentistry- $14,900 for 2 years
• Mental Health- $2,050 for 2 years
• Nursing- $1,450 for 2 years

The requirements for these programs are:

• Students must repay 10% of the total within 5-10 years of graduation (except for Loan Repayment Program).
• Students must work in Nevada and practice in a medically underserved region (except for nursing).
• Graduate-level nurses must teach within the Nevada System for Higher Education.
• Students must obtain a guarantee/co-signor signature for the promissory notes (except for Loan Repayment Program).

These college loans for students are state programs, reserved for Nevada residents.

Student Loan Forgiveness Programs?

The Professional Student Exchange Program (PSEP)

Optometry

- $14,600 per year for 4 Years

Pharmacy

- $9,750 for years 1 and 2; $6,500 for years 3 and 4

Veterinary Medicine

- $27,200 per year for 4 years

Students must repay 25% of the support fee within 5-10 years after graduation. They must also return to Nevada and practice their profession for a number of years equal to the number of years loans were received. A guarantee/co-signor signature for the promissory notes must be obtained, also.

In return, 75% of the loans will be forgiven.