ReNEW Fund

Reinvesting in Nursing Education & Workforce (ReNEW Fund)

About the Fund

The ReNEW Fund, established through a partnership between WGU and Social Finance, offers financial support to students in the final four core nursing terms of the Prelicensure Nursing BSN. It comprehensively covers educational costs (including travel to labs, clinicals, and other program-related expenses), ensuring that the journey to becoming a nurse is both affordable and achievable. This outcomes-based loan option has no origination fees, a zero percent interest rate, and a deferment option if your annual individual income falls below $60,000.

In an effort to mitigate the high turnover rates and staffing shortages in healthcare, the ReNEW Fund is a strategic investment in the future of nursing. It provides crucial support to historically underserved students, covering training costs that include in-person simulation labs and clinical placements, supporting a new generation of skilled nurses ready to serve and excel in the healthcare industry.

ReNEW Fund - Loan Program Benefits

The ReNEW Fund is a zero-fee, zero-interest outcomes-based loan.

Loan features:

Minimum income threshold: $60,000 (annual individual income)
Zero origination fees, zero interest
Max loan: $20,000 per year; $40,000 aggregate total
5, 7, or 10-year repayment

Official terms and conditions can be found in the student terms sheet. Counselors will review these terms with each student interested in the ReNEW Fund.

How does the ReNEW Fund Compare with the
Standard Federal Student Loan?

Federal Student Loan - Standard Repayment

ReNEW Fund - Standard Repayment

Interest

6.533% fixed*
*varies, but there will always be fees and interest

No fees or interest accrual

Payment

Six-month grace period after graduation, and then you are required to pay monthly until loan is paid off.

When annual earnings are less than $60,000, deferment is available so that no payments are required.

When annual earnings exceed $60,000, the maximum average payment during the loan term will be $333.

Sample Terms

Loan: $40,000
Years: 10
Interest: 6.533%
Payment: $455

Loan: $40,000
Years: 10
Interest: 0%
Payment: $333 (assuming income exceeding $60,000 per year)

Total Amount Repaid

$54,584 (Principal + Interest)

$40,000

Federal Student Loan - Standard Repayment

ReNEW Fund - Standard Repayment

Interest

6.533% fixed*
*varies, but there will always be fees and interest

Interest

No fees or interest accrual

Payment

Six-month grace period after graduation, and then you are required to pay monthly until loan is paid off.

Payment

When annual earnings are less than $60,000, deferment is available so that no payments are required.

When annual earnings exceed $60,000, the maximum average payment during the loan term will be $333.

Sample Terms

Loan: $40,000
Years: 10
Interest: 6.533%
Payment: $455

Sample Terms

Loan: $40,000
Years: 10
Interest: 0%
Payment: $333 (assuming income exceeding $60,000 per year)

Total Amount Repaid

$54,584 (Principal + Interest)

Total Amount Repaid

$40,000

**Please note that federal student loan forgiveness might be available to eligible students.
Learn more about federal student loan forgiveness here.

Are You Eligible?

Eligibility Requirements:

Active student in the core nursing terms (last 4 terms) of the prelicensure nursing program
Aged 18 or older
Authorized to work in the United States
Have at least 2 remaining terms of an Eligible Program to complete
Low to moderate household income (talk with your financial aid counselor about specific income requirements)
Meet Satisfactory Academic Progress (SAP)
Resident of the United States or DACA status
Meet with a WGU Financial Aid Counselor

We're Here to Help You Take the Next Step!

Reach out to a Financial Aid Counselor today to confirm your eligibility and take advantage of this exclusive offer.

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WGU Leavitt School of Health

Why choose WGU for your nursing education?

Respected education. WGU is the largest nursing training provider in the U.S. Over the last five years, WGU has had a first-time NCLEX-RN average pass rate over 90%, far higher than the national average.
Designed for working adults. WGU’s flexible, hybrid program enables students to earn a BSN degree on their own schedule.
100% online. Complete your degree on your time from home.

Accredited, Respected,
Recognized™

One important measure of a degree’s value is the reputation of the university where it was earned. When employers, industry leaders, and academic experts hold your alma mater in high esteem, you reap the benefits of that respect. WGU is a pioneer in reinventing higher education for the 21st century, and our quality has been recognized.