Iowa Student Loan Nursing Education Loan Forgiveness Program Eligibility Requirements
For recipients approved during the 2004 – 2005, 2005 – 2006, 2006 – 2007 and 2007 – 2008 award years
| Applicant Requirements |
|---|
| Nursing Educators | Must be enrolled in a post-baccalaureate nursing educator program (including non-nursing doctoral programs that qualify the individual to teach nursing) at an accredited Iowa college or university. |
| Registered Nurses | Must be enrolled in a registered nursing program at an accredited Iowa college or university. |
| Recipient Requirements |
|---|
- Must graduate and pass the required National Council Licensing Examination for Registered Nurses.
- Must be employed full time, as defined by the employer, as a nursing educator* in Iowa, or registered nurse providing direct patient care in Iowa within 12 months of graduation.
- Must have an outstanding Federal Family Education Loan Program (FFELP) Stafford Loan or Federal Consolidation Loan, including loans in the William D. Ford Federal Direct Loan Program (Direct Loan), that is owned or serviced by Iowa Student Loan or a private (student) loan owned or serviced by Iowa Student Loan.
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Loans Eligible for Forgiveness
- FFELP subsidized and unsubsidized Stafford Loans owned or serviced by Iowa Student Loan.
- Private (student) loans owned or serviced by Iowa Student Loan.
- Federal Consolidation Loans (including Direct Loans) consolidated with Iowa Student Loan.
Loan Forgiveness Schedule
| Years of Employment | Forgiveness % |
Nursing Educator | RN Long-Term Care Facilities | RN Rural Counties | RN All Other Urban Counties |
|---|
| 1 | 15% | $3,000 | $2,250 | $1,500 | $750 |
| 2 | 25% | $5,000 | $3,750 | $2,500 | $1,250 |
| 3 | 30% | $6,000 |
$4,500 | $3,000 | $1,500 |
| 4 | 30% | $6,000 |
$4,500 | $3,000 | $1,500 |
| Total | 100% | $20,000 | $15,000 |
$10,000 | $5,000 |
Eligible Loan Forgiveness Employment Areas in Iowa
In order to qualify for the program benefits, approved applicants must teach full time as a nursing educator* or work as an RN in an approved shortage area in Iowa. Priority is given to nursing educators, RNs working in long-term care facilities and RNs working in rural counties.
Counties that are considered “rural” for this program include 89 total counties that appear in white on the map. The remaining 10 counties that are shaded on the map are considered “urban.”
*Part-time employment may qualify for partial year forgiveness (nurse educators only).
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