Nevada System of Higher Education

Nevada System of Higher Education

The state of Nevada has a student loan default rate of 7.4% which is significantly higher than the national average of 5.2%.

Nevada does not have a separate state loan program. College grants and scholarships are its preferred financial aid strategy.

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


Be sure that you find out all the college grants and scholarships that you should apply for.

Nevada schools use both the Direct Federal Student Loan program and the Federal Family Education Loan Program (FFELP) for their federal student loans .

United Student Aid Funds, Inc. (USA Funds) is the state guarantor. The state offers no added benefits for these loans. Check your Nevada FAFSA deadline to make sure your application is on time.

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.