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Social Media links WEBSITE OF THE STATE OF SOUTH DAKOTA DEPARTMENT OF HEALTH
Doneen Hollingsworth, Secretary of Health

South Dakota Board of Nursing

Nursing Education Assistance Loan Program

The 1989 South Dakota Legislature authorized a nursing education loan program to provide assistance to qualified South Dakota residents who are admitted into an educational program for preparation of licensed practical nurses or registered nurses, or a nursing degree enhancement program.  Funding for the loan program is generated through a $10 fee charged to LPNs and RNs at the time of licensure.  The number and amount of each loan is determined annually by South Dakota Board of Nursing, not to exceed $1,000 per academic year.

Loan monies may be used only for direct education expenses such as tuition, books, and fees.  Room and board are not considered direct educational expenses.

A promissory note for the amount of the loan plus accrued interest is required before loan monies are disbursed.  If multiple awards are granted to an individual, the awards will be consolidated into one total amount for purposes of establishing terms of repayment. Equal portions of the student's loan amount will be disbursed directly to the educational institution at the beginning of each academic term.

The student borrower may elect to repay the loan either by:

  • employment in nursing in South Dakota at a conversion rate of $1 per hour, or,
  • remitting monetary payments

within the required time period of five years.


ELIGIBILITY & INSTRUCTIONS

RN
Students in Registered Nursing and Advanced Practice Nursing programs must submit the Loan Application, Form A (Student Status) and Form B (Financial Aid Inquiry) directly to the Board.  To be considered for an award the applicant must provide a complete Application, Form A and Form B as a package.  Plan ahead.  All loan packages must be postmarked not later than May 31st to be considered for an award in the upcoming school year.

Awardees will be selected during the July Board of Nursing meeting.  All applicants will be notified of selection.  Loan payments will be made at the start of the fall and spring semesters.

LPN
Students in Licensed Practical Nursing programs must submit the Loan Application, Form A (Student Status) and Form B (Financial Aid Inquiry) directly to the Board.  To be considered for an award the applicant must provide a complete Application, Form A and Form B as a package.  Plan ahead. All loan packages must be postmarked not later than September 30th to be considered for an award in the spring semester.

Awardees will be selected during the November Board of Nursing meeting.  All applicants will be notified of selection.  Loan payments will be made at the start of the spring semester.

Form A (Student Status): Complete the top section; have the administrator/director of the nursing education program that you are or will be attending complete the lower section.

The applicant for a nursing education assistance loan must:

  • be a citizen of the United States and a South Dakota resident for a minimum of one year immediately preceding the date of the application.
  • be accepted into a Board-approved nursing education program for licensed practical nurses or registered nurses leading to initial licensure, or be accepted into a nursing education degree enhancement program which is acceptable to the Board.
  • have or maintain a satisfactory grade for progression in the nursing education program as determined by the faculty of the institution.

Form B (Financial Aid Inquiry): Complete the top section; have the financial aid officer at the nursing education program that you are or will be attending complete the lower section.

The applicant for a nursing education loan must demonstrate financial need as determined by:

  • evaluation by the financial aid officer.
  • the amount of financial aid received from other sources in relation to total direct education expenses as submitted by the financial aid officer.