![]() ![]() Complete Guide to Student Loan Forgiveness for Nurses. Working as a nurse can be a great way to give back to the community and help others. It can also be a lucrative field with in- demand jobs. The big drawback? Studying to become a nurse is likely to result in a hefty student loan balance. Luckily, student loan forgiveness for nurses is available through a variety of programs. If you’re a nurse with student loans, check out our complete guide to student loan forgiveness for nurses. Federal Perkins Loan Cancellation and Discharge. If you have Federal Perkins loans and work as a full- time nurse, you may qualify to get up to 1. Score! Nurses must be registered and employed full- time; loans are discharged over a period of 5 years. ![]() In order to apply for this program, you must apply either through your school that disbursed the Perkins Loans or through your loan servicer. NURSE Corps Loan Repayment Program. The NURSE Corps Loan Repayment Program is a unique program geared toward nurses who work in underserved communities at Critical Shortage Facilities (CSFs). Registered nurses who work at least 3. Borrowers have the option of getting an additional 2. ![]() NURSE Corps program for a third year. Applications are only accepted once a year. Before applying, check out the program requirements and guidelines to see if it’s a good fit for you. Public Service Loan Forgiveness Program. If you work in the public sector, you may be able to get your loans forgiven through Public Service Loan Forgiveness after working full- time and making consecutive payments for 1. All Direct Loans that are in good standing (i. Borrowers must work at least 3. If your student loans are federally backed and you work in public service, you may qualify for loan forgiveness. Student Loan Forgiveness for Public Service. ![]() Only payments made after October 2. To help you stay on track, be sure to fill out the Employment Certification for Public Service Loan Forgiveness form and submit it to Fed. Loan Servicing, which is the loan servicer for this particular program. The good news is that unlike forgiveness with an income- driven plan, your forgiven loans under PSLF are not considered taxable income. Student Loan Forgiveness for Nurses: Programs By State. Depending on where you live, there may be nurse student loan forgiveness programs in your area. Check out what options are available by state: Alaska. Alaska’s SHARP program is designed to recruit healthcare professionals to work in specified shortage areas in exchange for loan assistance. Nurses are eligible for loan repayment under their Tier- 2 program and can receive up to $2. Eligible sites must be designated service shortage areas and each site must offer an employer match as part of the program. Arizona. Under the Arizona Loan Repayment Program, qualified health care professionals working in Health Professional Shortage Areas can receive loan assistance to help pay off their student loan debt. Nurse practitioners can either work full- or half- time and must commit to working at a qualified site for at least two years. This program is rather generous: nurses can receive up to $5.
Welcome to Loan Repayment/Forgiveness Scholarship Programs : Welcome to the State and Federal Repayment, Loan and Scholarship data base. This searchable data base. New York has multiple student loan forgiveness programs that are specific to just the State of New York. However, residents of the State of New York can also. California. Live in the Golden State? If you’re a nurse, you may qualify for the Bachelor of Science in Nursing Loan Repayment program. Registered nurses who work in a Health Professional Shortage Area or Medically Underserved Area can receive up to $8,0. You must commit to working for two years at a qualifying organization. Recipients of the award can apply again and get up to $1. Colorado. Through the Colorado Health Service Corps program, nurse practitioners who work in a Health Professional Shortage Area may be eligible for loan assistance. Nurses must work for a period of three years at a qualifying organization. This program offers assistance for nurses on both a full- time and half- time basis. Full- time nurses can receive up to $5. Florida. In 1. 98. Florida legislature created the Nursing Student Loan Forgiveness Program to encourage nurses to work in Health Professional Shortage Areas in exchange for loan repayment assistance. The program offers up to $4,0. In order to qualify, nurses must be licensed in the state of Florida as an LPN, RN, or ARNP and have student loans from a nursing education program. Hawaii. Nurse practitioners in Hawaii who work in Health Professional Shortage Areas may be able to receive loan assistance through The Hawaii State Loan Repayment Program. Applicants must work full- time for two years or half- time for four years at a qualifying organization. This is a grant- funded program, so the amount awarded depends on funds available. Idaho. Under the Idaho State Loan Repayment Program, health care practitioners who work in Health Professional Shortage Areas may be eligible for awards that range from $5,0. This program is available to a variety of health care professionals who work in a nonprofit or public setting. Illinois. Nurses in Illinois who commit to working in veterans’ homes may be eligible for loan assistance of up to $5,0. In order to be eligible for The Veterans’ Home Nurse Loan Repayment Program, nurses must be Illinois residents, meet certain licensing requirements from the Illinois Department of Financial and Professional Regulation ,and have their employment verified in good standing by the Illinois Department of Veterans’ Affairs. Iowa. The State of Iowa has a loan assistance program called the Iowa Registered Nurse & Nurse Educator Loan Forgiveness Program, which provides an award of up to 2. The maximum award amount for a 2. In order to qualify for this program, nurses must be employed in Iowa. Nurse educators are also eligible for the program if they hold a master’s degree or higher and teach at a qualified college or university. Applicants must be employed at least quarter- time and be in good standing with their federal student loans. Eligible candidates may qualify for forgiveness for no more than five consecutive years. Kansas. Under The Kansas State Loan Repayment Program, nurse practitioners can receive up to $2. Health Professional Shortage Area for two years. The program is competitive and open to other health care professionals as well — as of 2. Kentucky. The Kentucky State Loan Repayment Program is a unique program that offers loan repayment as a 5. In other words, for every dollar provided by the program, there must be a match of the same amount by a sponsor, such as an employer, foundation, or friend. Nurse practitioners in Kentucky can take advantage of this program if they work in a Health Professional Shortage Area for two years. Nurses can receive repayment assistance between $2. Louisiana. The Louisiana State Loan Repayment Program was created to encourage health care professionals to serve in rural or inner- city communities in exchange for loan assistance. Nurses who work full- time at a designated Health Professional Shortage Area, or at a nonprofit may be able to receive up to $1. Eligible nurses must be licensed in Louisiana and be in good standing with their student loans. Maryland. Through the Janet L. Hoffman Loan Assistance Repayment Program, Maryland residents who work as nurses at qualified organizations serving low- income and underserved residents may be eligible for loan assistance. Eligible candidates must be employed full- time and have earned a degree in Maryland. In addition, your gross salary may not be more than $6. Award amounts depend on how much student loan debt you have, but can range from $1,5. Michigan. The Michigan State Loan Repayment Program offers loan assistance for nurse practitioners who work in underserved communities. Nurses who work full- time and commit to working at least two years in a designated Health Professional Shortage Area can receive up to $2. Minnesota. The Minnesota Nurse Loan Forgiveness Program offers repayment assistance to licensed practical or registered nurses who work with the developmentally disabled or in a licensed nursing home for at least two years, with the possibility of extending the program for another two years. Eligible candidates may receive $5,0. Montana. The Montana Institutional Nursing Incentive Program offers loan assistance for registered nurses who work full- time at a Montana state hospital or prison. Eligible candidates must submit proof that their current loan balance is at least $1,0. The amount awarded depends on the number of candidates, as well as available state funding. Program participants can apply for repayment assistance for up to four years. Nebraska. The Nebraska Loan Repayment Program is a matching fund program to help recruit healthcare professionals; local entities will match state dollars in order to pay for employees’ loan assistance. Nurse practitioners are eligible for this program if they commit to working for three years in a designated shortage area. Eligible candidates can receive up to $2. New Hampshire. Under The New Hampshire State Loan Repayment Program, nurse practitioners who work in underserved areas may be eligible for awards up to $4. Eligible candidates must work full- time for at least 3. If interested, candidates can extend the program for another 2. New Jersey. Through the Primary Care Practitioner Loan Redemption Program of New Jersey, certified nurse practitioners who work in specific Health Professional Shortage Areas or underserved areas may be eligible for significant loan repayment assistance. Eligible candidates must work full- time for at least two years to qualify, with an option to extend the program an additional two years. The amount you are awarded depends on your outstanding balance as well as how many years you served. The award goes up to $1. New Mexico. The New Mexico Health Professional Loan Repayment Program offers up to $2. Candidates who work in designated Health Professional Shortage Areas can receive up to $3. Eligible candidates must be residents and licensed in New Mexico. New York. The New York State Nursing Faculty Loan Forgiveness Incentive Program was created to attract adjunct clinical faculty and nursing faculty members to teach nursing in New York State.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
December 2016
Categories |