Federal and State Loan Forgiveness Programs for Nurses
Below is a list of federal and state loan forgiveness programs available to nurses. Note that each program has its own eligibility requirements. A comparison chart (PDF) is available.
Note: The information outlined on this page is not intended as a substitute for information provided by the actual providers of the following programs, nor is it an exhaustive list of all available loan forgiveness programs.
Public Service Loan Forgiveness
Eligibility Requirements:
- Available for borrowers who hold full time public service jobs in areas that include health and education.
- Requires 120 qualifying monthly payments be made to the William D. Ford Federal Direct Loan Program before loan forgiveness consideration.
- More detailed information is available at www.studentaid.ed.gov.
Federal Nursing Education Loan Repayment Program
Eligibility Requirements:
- Applications should be submitted after the student has graduated.
- This highly competitive program repays 60% of the qualifying loan balance for registered nurses, in exchange for two years of service at a critical-shortage facility. An optional third year of service can provide an additional 25% of loan forgiveness.
- The online application period typically ranges from January to March; applicants can sign up for e-mail notification when the application is made available.
- More detailed information is available from the Health Resources and Services Administration.
Federal Perkins Loan Discharge/Cancellation for Full-time Nurses
Eligibility Requirements:
- Applications should be submitted after the student has graduated. Applications are provided by the college or university that issued the Perkins Loan(s).
- Benefits are earned incrementally, with up to 100% cancellation after five years of qualified employment as a nurse.
- Payments are deferred during years of employment; paperwork is coordinated through the college or university that issued the Perkins Loan(s).
- Get more detailed information on the program (PDF).
Iowa Registered Nurse and Nurse Educator Loan Forgiveness Program
Eligibility Requirements:
- Applications should be submitted after the student has graduated.
- Applicants must be employed as a nurse educator or registered nurse in Iowa no earlier than July 1, 2007.
- Nurse educators are given priority in determining awards.
- As much as $6,704 in Federal Stafford Loans can be forgiven at the completion of one year as a nurse educator or registered nurse (2009 – 2010 award year).
- More detailed information is available from the Iowa College Student Aid Commission.
Note: The information outlined on this page is not intended as a substitute for information provided by the actual providers of the following programs, nor is it an exhaustive list of all available loan forgiveness programs.
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