Tennessee Lending Program for Teachers and Nurses
ELFI's Tennessee Lending Program for Teachers and Nurses empowers future nurses and teachers to finance their education and achieve their dreams. Check the eligibility requirements to see if you qualify and click the button below to get started.
Undergraduate & Graduate Loans for Nursing and Teaching
We offer fixed-rate, 10-year terms from $1,000-$15,000.
Loan Amounts From
Undergraduate
$1,000 – $10,000
Graduate
$1,000 – $15,000
Fixed Rates at
Undergraduate
3.00% APR*
Graduate
4.00% APR*
Loan Terms
10 Years
Eligibility Requirements
If you meet Education Loan Finance’s underwriting criteria and eligibility requirements, you may be qualified for a student loan through our Tennessee Lending Program for Teachers and Nurses. Read on to see if you may qualify.
Eligibility
Verify you meet eligibility requirements listed below.
Participating Schools
Are you planning to attend one of the institutions below?
Documents Needed
Do you have all the documents required to obtain a loan?
Requirements Checklist
The borrower must be a U.S. citizen or permanent resident alien without conditions and with proper evidence of eligibility.
The borrower must be at the age of majority or older at the time of loan application.
The student must be enrolled in their Junior or Senior year of an undergraduate program or enrolled in a graduate program at one of the eligible institutions below.
Must have a minimum loan amount of $1,000.
The student must be enrolled at least half-time in school.
Depending on the institution, there may be a maximum income threshold that the borrower must fall under in order to qualify.
Eligible Schools
In order to qualify for a student loan through this program, the student must be enrolled at one of the following institutions:
Lee University – Cleveland, TN
Tennessee Technological University – Cookeville, TN
University of Tennessee – Chattanooga, TN
Tennessee State University – Nashville, TN
University of Tennessee – Knoxville, TN
Bryan College – Dayton, TN
Johnson University – Knoxville, TN
Frequently Asked Questions
The Tennessee Lending Program for Teachers and Nurses offers specialty loan products to prospective teaching and nursing students at eligible institutions.
In order to qualify for an undergraduate or graduate student loan through this program, you must be enrolled at least half-time in a teaching or nursing program. Half-time enrollment is an enrollment status applied to students who are only enrolled in half of the expected full-time course load. Each school may have different specifications for what qualifies as half-time enrollment.
The Tennessee Lending Program is designed for teaching and nursing students who are U.S. citizens or permanent residents. In order to qualify you must submit an application and be enrolled in your Junior or Senior year of an undergraduate program or enrolled in a graduate program at one of the following institutions:
- Lee University – Cleveland, TN
- University of Tennessee Chattanooga – Chattanooga, TN
- Tennessee Technological University – Cookeville, TN
- Tennessee State University – Nashville, TN
For certain institutions (see “Is there an income limit to qualify?” FAQ below), your income must also be less than 80% of the Federal Financial Institutions Examination Council’s non-Metropolitan Statistical Area/Metropolitan Division Median Family Income for the county in which you attend school as well as meet other credit eligibility requirements.
Undergraduate student loans offered through this program accrue interest at a rate of 3.00% APR* while in school and following graduation.
Graduate student loans offered through this program do not accrue interest while in school. Following graduation or leaving the university, graduate loans will accrue interest at a rate of 4.00% APR* following a 6-month grace period.
For the following institutions, to qualify for this program, you must have an income less than 80% of the Federal Financial Institutions Examination Council’s non-Metropolitan Statistical Area/Metropolitan Division Median Family Income for the county in which you attend school:
- Lee University – Cleveland, TN (Bradley County)
- University of Tennessee – Chattanooga, TN (Hamilton County)
- Tennessee Technological University – Cookeville, TN (Putnam County)
For the following institution(s), there is no maximum income threshold:
- Tennessee State University – Nashville, TN (Davidson County)
You may borrow between $1,000 and $10,000 for the undergraduate loan program and between $1,000 and $15,000 for the graduate loan program.
All student loans offered through this program have fixed interest rates.
This program offers only ten-year loan terms.
Undergraduate and graduate student loans offered through this program do not allow cosigners.
Yes, loans offered through this program will have a 6-month grace period immediately after graduation or leaving the university. For TNLP undergraduate loans, your interest will continue to accrue during the grace period.
For TNLP graduate loans, your interest will not accrue during the 6-month grace period following graduation or leaving the institution.
American Education Services (AES) is the third party loan service provider that Education Loan Finance currently partners with to service your student loans. Once you accept your loan, AES will reach out to you to set up an account that you will use to make monthly payments.