To be eligible for this program, you must be licensed as a nurse practitioner (including with a psychiatric specialty) or certified nurse-midwife. All applicants must submit supplemental documents, including loan information verification and proof of U.S. citizenship. There is high demand for nurse practitioners. Dr. Karen Crowley, associate professor at the School of Nursing at Regis College, explains that student loan forgiveness programs offer both the chance to eliminate student loan debt and gain continued job security. North Carolina Department of Health and Human Services. "Michigan State Loan Repayment Program Overview." Be sure to research all your options so you don’t miss an opportunity to earn assistance for paying off your nursing student loans. Nurses do not have to be of American Indian or Alaska Native heritage to receive help. For APRNs and nurse midwives, the funding must be matched by an employer., The Virginia State Loan Repayment Program offers aid to health care professionals who are willing to commit to a minimum of two years of work in a health care shortage area. Here's what to expect from the thesis process. The award amount is tied to the total student loan balance, with a maximum of $30,000 ($10,000 a year) paid toward balances over $75,000.. Wyoming Department of Health. The typical price of tuition for an 18-month Licensed Sensible Nurse (LPN) program is about $10,000 to $15,000 nationally. (Each year of service cancels a bigger percentage of the loan principal and accrued interest.) Nurses receive 60% of their debt paid off over two years. Participants must sign a contract to work full-time for two years in an HPSA. "State Loan Repayment Program." Many require students to fulfill at least two-year work terms. The website for the program can provide more information. Accessed Feb. 28, 2020. Rural Health Information Hub. "Health Professionals Loan Repayment Program." Read more about the program on the state’s education department website. Each state offers loan forgiveness for nurses but the requirements, eligibility, and work commitment vary. Additionally, nurse practitioners and advanced practice nurses may qualify for the Health Professional Loan Repayment Program, which requires a two-year, full-time service commitment in a New Mexico medical care shortage area. , Nurses can get up to 100% of their Perkins loans canceled after five years of eligible service in their field. Qualified applicants must work at least 30 hours a week at a site that meets the program guidelines. Becoming a nurse requires extensive schooling, which—unfortunately—may put you into student loan debt. “It is essential that nursing students and nurses understand what will be required of them, for how long, and decide if these requirements are something they see as feasible,” she says. Accessed Feb. 28, 2020. They work in their own communities, helping soldiers and their families. Unlike the NURSE Corps program, part-time or full-time nurses can be eligible for the NHSC Loan Repayment Program. Nurses saddled with student loan debt can apply to state loan forgiveness programs. They must work at an approved college for at least two years. The best part? Becoming a nurse is an excellent way to serve others in need as well as earn a good living. Critical Shortage Facilities are public or private nonprofit facilities serving an HPSA.. Nurses who work as educators in the state can receive up to $40,000 toward repaying student debt total, paid out at a rate of $8,000 per year.. Wisconsin Office of Rural Health. Some hospitals offer loan forgiveness awards to nurses, but eligibility requirements can include holding an advanced degree, having a specific loan type or working in a specialized department. Office of Primary Care and Area Health Education Centers Program, 2019 FSLRP & HPLRP Program Reference Guide, Health Professions Loan Assistance Program Information. This program also benefits teachers, firefighters, and law enforcement officers. The amount of loan forgiveness you receive is primarily based on the community you work in and the level of need. RNs, nurse practitioners, certified nurse-midwives, and psychiatric nurse specialists are eligible to apply.. States like California require nurses to work … Accessed Feb. 28, 2020. This includes nurse practitioners, psychiatric nurse specialists, clinical nurse specialists, and certified nurse-midwives. Candidates who meet the requirements can receive $40,000 per year, over three years. "Louisiana State Loan Repayment Program." … Residency requirements vary per state, as do specific eligibility requirements. The Michigan State Loan Repayment Program offers up to $200,000 in tax-free funds over a period of up to eight years. West Virginia’s State Loan Repayment Program provides up to $90,000 in potential assistance to nurse practitioners and certified nurse-midwives who work in a qualified clinic within an HPSA: An initial two-year commitment qualifies you for $40,000 in assistance and an additional two-year commitment is worth $25,000 per year.. Awards of an unspecified amount are paid quarterly to the nurse’s student loan servicer. The program accepts U.S. citizens from disadvantaged backgrounds. Accessed Feb. 28, 2020. Additionally, as Crowley notes, “Nurses must maintain an unencumbered license, have an unpaid loan balance related to any level of education for nursing and have completed the nursing program to be eligible for this program.”. Accessed Feb. 28, 2020. The Washington Student Achievement Council (WSAC) administers the state-level Health Professional Loan Repayment Program (HPLRP) and the Federal-State Loan Repayment Program (FSLRP), which can help RNs, LPNs, nurse practitioners, or certified nurse-midwives with student loan assistance.. The recipient can then have one year’s worth of student loans forgiven for every year they work at a qualifying public or nonprofit hospital or clinic in Delaware.. Alaska’s SHARP program is designed to recruit healthcare professionals to work in specified shortage areas in exchange for loan assistance. Florida Department of Education Office of Student Financial Assistance 325 West Gaines Street, Suite 1314 . "Determine Eligibility and Apply to the Nurse Corps Loan Repayment Program (NCLRP)." Student Loan Forgiveness for Nurses by State. This state has the Nevada Health Service Corps for loan repayment help, administered by the Nevada State Office of Rural Health. In Michigan, qualified registered nurses, nurse practitioners, nurse midwives, and clinical nurse specialists may qualify for up to $200,000 through the Michigan State Loan Repayment Program. Most require you to work in underserved communities, often for at least two years, but some or all of your loans may be forgiven as a result. Rule 6A-20.050, F.A.C. Opportunities abound for those who are interested in advanced nursing. You will find both federal and loan that is state-level programs available. Here’s a breakdown by state: Alaska offers the SHARP program, which operates similarly to the NURSE Corps. Kaiser Permanente employees can qualify to receive scholarships and student loans. Whether you’ve just started your schooling or you’ve already graduated, it’s important to understand all your loan repayment options. Public Service Loan Forgiveness (PSLF) is one of the most popular loan forgiveness programs in the country. Accessed Feb. 28, 2020. Nursing professionals such as nurse practitioners and psychiatric nurse specialists could qualify for the North Carolina State Loan Repayment Program. You can receive up to three awards, for as much as $30,000 toward loan repayment.. Accessed Feb. 28, 2020. Each could have its requirements that are own application and payment plans. It offers an unstated amount of assistance, sending funds directly to the participant’s student loan servicers when program requirements are satisfied. State and City Sponsored Loan Forgiveness Programs. Each year, the Virginia State Loan Repayment Program (VA-SLRP) awards tax-exempt federal and commercial loan forgiveness grants to health professionals like nurse practitioners, certified nurse midwives, and RNs. The Florida legislature created the Nursing Student Loan Forgiveness Program in 1989 to encourage nurses to work in Health Professional Shortage Areas in exchange for loan repayment assistance. Otherwise, once you’ve made 120 of your payments under the 10-Year Standard Repayment Plan, you won’t have any balance left to forgive. This article will lay out all of these programs so you can make sense of all the jargon, acronyms, and requirements. The expense of nursing school, coupled with the lack of a proper job, has made it very difficult for nurses to acquire the relevant qualifications needed for meeting the shortage of RNs across the country. Moreover, most of the student loan forgiveness programs for nurses have flexible conditions for the … The conditions for discharge are narrow, including bankruptcy, permanent disability, a closure of the educational institution before completion of the study, or death., To apply for cancellation or discharge, you’ll need to reach out to the school that issued the Perkins loan or your loan servicer. Crowley explains, “NFLP recipients can earn up to 85% of loan cancellations upon completion of four years of employment as a nurse educator.”. Becoming a nurse is a highly respected career choice, but the journey to certification doesn’t come cheap. "NYS Nursing Faculty Loan Forgiveness Incentive Program." "Minnesota Nurses in Long Term Care Loan Forgiveness Guidelines." Through the Nurse Education Assistance Loan Program, Ohio nursing students are not only eligible for assistance in paying for their education, but the loans may qualify for cancellation. The Nurse Corps Loan Repayment Program (NCLRP) is one of the top options for nurses looking for nursing loan forgiveness. © 2020 NurseJournal.org, a Red Ventures Company. Read more about applying for this program on the state’s website. Here’s how it works: nurses registered in Tennessee can be awarded a student loan-scholarship of up to $7,000 per year of full-time graduate nursing school enrollment. But if you already work full-time in an eligible Critical Shortage Facility (CSF), or you’re willing to work full-time in one of these facilities for at least two years, you could have much of your debt paid for. Accessed Feb. 28, 2020. Accessed Feb. 28, 2020. Crowley explains that nurses can potentially “receive 100% of federal loan forgiveness.”. The student commits to practicing in a designated New Mexico shortage area and will get a portion of their loan forgiven for each year of service, for up to 100% forgiveness.. For as many as four years, APRNs can get up to $10,000 a year in exchange for a year of full-time work in an underserved rural Georgia county.. Accessed Feb. 28, 2020. They work in hospitals, clinics, or tribal agencies serving communities experiencing nurse shortages. NurseJournal.org is an advertising-supported site. APRNs and certified nurse midwives can get $10,000 to $20,000 per year through the Vermont Educational Loan Repayment Program for Health Care Professionals. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us. Federal Student Aid. Some nurses may also qualify for state-level loan forgiveness or the Perkins Loan cancellation. "Health Care Loan Repayment Program." "Kansas State Loan Repayment Program." Accessed Feb. 28, 2020. Participants must make a two-year commitment to work full-time at an eligible worksite in an HPSA. Award amounts aren’t specified, but you can find out more at the program’s website. As one of the top forms of loan forgiveness for nurses, the program is highly competitive and only accepts applications once a year. "Public Service Loan Forgiveness (PSLF) Help Tool." See the Virginia Department of Health website for more details. Annual awards are either $20,000 or $27,000, based on how hard the positions are to fill.. RNs who hold a degree from a Maryland college can qualify for assistance through the Janet L. Hoffman Loan Assistance Repayment Program. Full-time nurse practitioners and certified nurse-midwives may be awarded $40,000 to $50,000 in return for a two-year service contract in a federally designated Health Professional Shortage Area (HPSA) or Arizona Medically Underserved Area. Certified nurse-midwives and nurse practitioners in this state should look into the Health Professions Loan Assistance Program. According to program guidelines, eligible applicants must have received their Perkins Loan before 2017. Alaska Department of Health and Human Services Division of Public Health. The Advanced Practice Registered Nurse Loan Repayment Program in Georgia is for APRNs. To qualify, nurses must work in a less-populated service commitment area and nurse educators must teach at eligible colleges or universities in Iowa. Many loan forgiveness programs apply to nurses, at both the federal and state level. The maximum annual award, including the match, is $10,000 to $20,000, depending on discipline, so the two-year commitment would yield as much as $20,000 to $40,000 for your loans.. Accessed Feb. 28, 2020. Accessed Feb. 28, 2020. Under this program, nurses with Perkins Loans—low-interest loans for students with exceptional financial need—may qualify for 100% forgiveness if they’ve worked full-time for at least 5 years in the nursing field. The Arizona State Loan Repayment Program (SLRP) offers loan repayment options for those working for non-profit providers or rural private practices. Full-time participants can get $30,000 to $50,000 in loan repayment funds for an initial two-year commitment; part-timers, $15,000 to $25,000. Nursing school, however, can lead to large amounts of student loan debt. Accessed Feb. 28, 2020. Still, loans have to be repaid, and when it comes time to start repaying, the cost can be a big financial burden. Forty-seven states and the District of Columbia all have special student loan forgiveness programs for residents of their states. Student Loan Forgiveness Programs by State. Amounts of loan forgiveness vary for two years of full-time service in an underserved area of the state. Washington Student Achievement Council. Read on for what to expect and tips on how to enter the field. State-Level Loan Forgiveness for Nurses. Here’s a list of federal and state programs available, including which nursing professions qualify and how much assistance you may be able to get. The application for student loan forgiveness closes early within each year. Indiana State Department of Health. The NYS Nursing Faculty Loan Forgiveness Incentive Program offers student loan assistance to attract more nursing professionals into faculty and teaching positions in New York. Accessed Feb. 28, 2020. Nurses saddled with student loan debt can apply to state loan forgiveness programs. Find out what to expect from a nursing program as a nontraditional learner. Accessed Feb. 28, 2020. Accessed Feb. 28, 2020. Ask a Nurse: Am I Too Old for Nursing School? Smaller amounts are available in the third year and beyond if they continue in the program.. After that, nurses receive funds to cover 25% of their remaining loans. The Sunflower State has the Kansas State Loan Repayment Program (SLRP), which requires health care professionals to make at least a two-year commitment to work at an HPSA in the state. Final Thoughts . Accessed Feb. 28, 2020. Annual awards are either $20,000 or $27,000, based on how hard the positions are to fill. In return, they’ll get $45,000 in student loan repayment for a three-year commitment, paid out as $15,000 annually.. Idaho’s SLRP is for nurses, clinicians, and physicians working in federally designated HPSAs. State of Oklahoma Physician Manpower Training Commission. "Perkins Loans." Nurse practitioners can get up to $20,000 for each of the initial two years of service and then may extend the contract in one-year increments, getting $15,000 for the third year, $10,000 for the fourth and $5,000 for the fifth year of service.. Crowley reminds nurses considering these programs that “because of the requirements set by these programs, nurses won’t have the flexibility of where they work or switching employers without loss of the forgiveness benefits.”. While guidelines and award amounts vary by state, generally nurses need to be U.S. citizens and hold a valid state license. “California nurses can apply to receive up to $10,000 a year for a maximum of three years for working in either a healthcare provider shortage area or in a medically underserved area,” explains Crowley. Go to this state website to find out more. For more information, visit the program’s website. Under the HPLRP, RNs and LPNs must work at approved, high-need worksites for a minimum of three years full-time or five years part-time. Accessed Feb. 28, 2020. Learn more to see whether you might qualify. Accessed Feb. 28, 2020. Rural Communities Health Care Investment Program (RCHIP). This compensation does not influence our school rankings, resource guides, or other editorially-independent information published on this site. "Nursing Loan-For-Service Program." Massachusetts League of Community Health Centers. Public Service Loan Forgiveness If you are employed by a government or not-for-profit organization, you may be able to receive loan forgiveness under the Public Service Loan Forgiveness Program . The Health Professionals Loan Repayment Program in Rhode Island offers student debt repayment for providers including RNs, APRNs, and nurse practitioners. Learn more about Michigan’s repayment program on this state website. Qualified nurses must commit to work in understaffed areas for at least two years. Alaska offers the SHARP program, which operates similarly to the NURSE Corps. If you have a bachelor’s in nursing and are currently licensed as an RN in California, you could be eligible for the Bachelor of Science Nursing Loan Repayment Program (BSNLRP). PSLF enables nurses to have the remaining balance of eligible federal student loans forgiven after making … The Minnesota Nurses in Long Term Care Loan Forgiveness program offers $6,000 a year, for up to $24,000 over four years, in student loan repayment funds to RNs and LPNs who work in long-term care facilities such as nursing homes.. "Health Professional Loan Repayment." Ask your nursing school what kind of state student loan forgiveness programs are offered. Here are just some of the loan forgiveness programs for nurses at the state level. Accessed Feb. 28, 2020. Participants receive $45,000 for the three-year commitment, with the option to extend for two more years to get an additional $20,000.. Your school’s financial aid office or the servicer will provide you with the necessary forms and instructions., NURSE Corps will pay up to 85% of your outstanding nursing loan debt if you work in one of the nation’s thousands of Critical Shortage Facilities, or teach nursing at an eligible institution. Want to know what it's like to find a job after nursing school? Health & Resources Services Administration. To apply or get more information, visit the Nebraska Department of Health and Human Services website. Accessed Feb. 28, 2020. To help mitigate the burden of student loan debt, student loan forgiveness programs for nurses offer financial assistance in exchange for work commitments. This program offers nurses up to 85% of reimbursement toward their unpaid student loan debt. (A) About loan forgiveness. For example, some state loan forgiveness programs may only be open to … Louisiana’s State Loan Repayment Program applies to some nursing professionals. Nurses in the Army also receive benefits, salaries, and housing allowances. Many rural and remote communities in Canada lack the primary health care they need. Here’s the West Virginia program’s website. The size of a student’s debt balance typically corresponds to the length of time it takes to complete their degree, although the National Student Nurses’ Association reports that even some registered nurses with an associate in nursing degree accumulated up to $80,000 in student loans. Similar to many of the other state programs, the goal of the Wyoming State Loan Repayment Program is to increase health care providers in its federally designated HPSAs.. A program in Indiana offers student loan forgiveness to a more limited set of nursing professionals. The only exception to this is nurses who teach in a nonprofit nursing school but it must be accredited by the state whether is private or public does not matter. Ask a Nurse: Can I Expect Job Offers Post-Graduation? Participants must complete a two-year contract in an HPSA.. Undergraduate loans that paid for prerequisites that meet graduate degree requirements can also qualify for repayment. Accessed Feb. 28, 2020. To receive financial help, nursing students must attend an accredited nursing school, sign a promissory note, meet academic standards, and show an interest in working as a nurse educator. In fact, there are way too many to list here. New Jersey has a more limited loan repayment option with the Nursing Faculty Loan Redemption Program. You can specify loan forgiveness, select your … Kansas Department of Health and Environment. "State Loan Repayment Program." Every year of service cancels out one year’s worth of aid., The Oregon Partnership State Loan Repayment Program is open to RNs, psychiatric nurse specialists, certified nurse midwives, and nurse practitioners. The good news is, the American Federation of Teachers (AFT) has compiled a searchable database of loan forgiveness programs, grants, awards and classroom donation programs. West Virginia University Institute for Community and Rural Health. To meet qualifications for loan reimbursement, nurses must hold U.S. citizenship and work at a facility serving Medicare, Medicaid, or the State Children’s Health Insurance Program patients. Virginia Department of Health. This program is funded to provide awards of up to $20,000 each to 30 applicants per year, for up to four years.. State of Rhode Island Department of Health. The Nursing Incentive Program offered provides a unique funding option for nursing students. Louisiana Department of Health Bureau of Primary Care & Rural Health. As more and more Americans need medical care, the number of nurses continues to grow. This program benefits nurses based on their employer, not the type of work they do. Federal and state programs provide various levels of student loan forgiveness for qualifying nurses. Find out more details at the Ohio Department of Higher Education website. Nursing graduates can turn to student loan forgiveness programs and cancellation programs to help eliminate their student loans. Healthcare professionals, such as certified nurse midwives and nurse practitioners can apply. Want to go back to school for a nursing degree but think you might be too old? State Level Student Loan Forgiveness for Nurses Many states will also offer programs that forgive all or some of a nurse’s student loan debt, following service in areas that are experiencing a shortage of qualified nurses. 3. Accessed Feb. 28, 2020. There must be a dollar-for-dollar match from the participant’s employer to qualify. Arizona Department of Health Services. Get more information on the program’s website. 1-800-366-3475 . The cost can be prohibitive for many wishing to enter the profession, making student loans a lifesaver. Eligible candidates include nurse practitioners and certified nurse-midwives who commit to a two-year service at a not-for-profit clinic located in an HPSA.. Programs may offer full or partial financial help when nurses commit to work in specific underserved areas. These requirements include having a master’s or doctoral degree in nursing and working as a full-time faculty member at a New Jersey school of nursing for five years. "State Loan Repayment Program (SLRP)." To recruit healthcare practitioners to underserved American Indian and Alaska Native communities, the IHS program offers nurses as much as $40,000 in repayment toward unpaid educational loans. RNs and LPNs also can get up to $6,000 a year through the Vermont Educational Loan Repayment Program for Nurses (RN and LPN). "Kentucky State Loan Repayment Program." Accessed Feb. 28, 2020. RNs can get a maximum of $10,000, and other more specialized nurses can get $20,000, with a minimum obligation of two years in an underserved area.. Interestingly, employers must match the loan forgiveness as part of the program Some states do not offer specific state-level programs for nurses (or are not currently funding them), but federal-level programs like the NHSC or NURSE Corps may apply to nurses in those states. , The Nursing Loan-For-Service Program provides loans as well as forgiveness for nursing students. 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Hoffman loan Assistance Repayment Program (LARP), Michigan State Loan Repayment Program Overview, Minnesota Nurses in Long Term Care Loan Forgiveness Guidelines, Montana Institutional Nursing Incentive Program, Nebraska Loan Repayment Program for Rural Health Professionals, NYS Nursing Faculty Loan Forgiveness Incentive Program, ND Advanced Practice Registered Nurse Loan Repayment Program, Nurse Education Assistance Loan Program (NEALP), Oregon Partnership State Loan Repayment Program (SLRP), Pennsylvania Primary Care Loan Repayment Program (LRP), Health Professionals Loan Repayment Program, Graduate Nursing Loan Forgiveness Program. January 2016 . "Loan Forgiveness and Repayment Programs." The state-funded programs will give you the opportunity to have some or all of your debt reduced. Full- and part-time students may apply. "Janet L. Hoffman loan Assistance Repayment Program (LARP)." Payments made under both income-driven repayment (IDR) plans and the 10-Year Standard Repayment Plan qualify, but you must meet all additional terms and conditions of the program as well. These professionals can qualify for up to $25,000 in student loan repayment help paid out over three years—if they meet employment requirements. When the student loan repayment phase begins, it is important for the borrower to go through all the repayment options available to them. Go to the program website to get more details. "Nebraska Loan Repayment Program for Rural Health Professionals."
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