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 is available in PDF format.
| The information outlined on this page is not intended to substitute for information provided by the actual providers of the following programs, nor is it an exhaustive list of all available loan forgiveness programs. |
| New Program – Public Service Loan Forgiveness |
| A new federal loan forgiveness program is available for borrowers who hold public service jobs in areas that include health and education. More details on this federal program is available at www.studentaid.ed.gov |
Federal Nursing Education Loan Repayment Program
- 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
- 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 teaching; paperwork is coordinated through the college or university that issued the Perkins Loan(s).
- Get more detailed information on the program.
Iowa Registered Nurse and Nurse Educator Loan Forgiveness Program
- 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 $6,420 in Federal Stafford Loans can be forgiven at the completion of one year as a nurse educator or registered nurse (2008–2009 award year).
- More detailed information is available from the Iowa College Student Aid Commission.
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