Federal Nursing Loan
The Federal Nursing Student Loan is a low-interest federal loan. This loan is to assist with educational expenses for undergraduate and graduate students who are admitted to the College of Nursing. You must show financial need to be eligible to receive funds under this program. Grand Valley State University is the lender for Federal Nursing Loan funds.
Interest Rates & Processing Fees:
- 5% (fixed) interest rate
- No processing fee is assessed
First time Federal Nursing Loan borrowers will need to complete a master promissory note through ECSI before any loan funds will be disbursed to the university. The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees. It also explains the terms and conditions of your loan(s).
The entire MPN process must be completed in a single session, so be sure you have enough time before you start. Each MPN generally takes approximately 30 minutes to complete. You will receive an email in May when you are able to log into the system and complete the MPN.
- Log on to ECSI's website at http://www.ecsi.net/promY9
- You must provide your First Name, Last Name, Social Security Number, and Date of Birth for validation purposes. If the system is unable to validate your identity, you will need to print and complete a paper copy to submit to GVSU.
- Most pages require that you accept the terms by checking a box at the bottom of those pages.
- You must provide complete reference information for yourself, next of kin (a relative) and three additional references. Failure to complete ALL lines accurately will keep this loan from disbursing to your account.
- MASTER PROMISSORY NOTE - Read completely. Once you have read the promissory note you must electronically sign the note at the bottom of the page. The electronic signature includes a check off box plus your full legal name.
Your electronic promissory note will be reviewed by the Long Term Loan Office before any monies are disbursed. By completing the online process, you will not need to complete the paper process that requires similar information. If you have questions please contact the Long Term Loans Office.
Please note: If the student is not able to submit the MPN electronically due to an authentication failure, they will need to print a paper copy and mail the paper MPN to the Long Term Loan Office. Please be sure to sign it and write your G-number at the top. You can also bring a completed MPN into the Office of Financial Aid and Scholarships.
The address for the Long Term Loan Office:
Grand Valley State University
Long Term Loan Office – 1049 JHZ
Allendale, MI 49401