Nursing education loan repayment program

You May Be Eligible To Have Your Nursing Student Loan Paid Off

Overwhelmed by nursing student loans? You may be eligible for help paying your loan off. If you are a United States citizen, with an associate’s degree, or bachelors degree in nursing, you may qualify for a government sponsored nursing student loan payoff assistance program.

The federal Nursing Education Loan Repayment Program was formed to encourage students to select education in nursing, because of the shortage of nurses in the U.S. This program works with the graduate once they receive employment in nursing at a qualified not for profit health facility, to help them pay off their student loans.

This program is for nurses who have chosen to work for an eligible not for profit health agencies, or a school of nursing as a faculty member. You must have completed your training and be licensed to practice nursing. You will have to commit to two years of full time work, of at least 32 hours per week. In exchange for your commitment to work for the non-profit health agency, you will receive payment for 60% of your qualifying student loan. If you work an additional third year, at the same or another qualifying agency, you may receive another 25% payment towards your remaining balance.

You will also receive whatever benefits and salary the health facility has agreed to pay. Your student loan is paid for on top of whatever you earn at the non-profit health facility.

Here is a list of some of the types of eligible non-profit health facilities:

  • Nursing Homes
  • Rural Health Clinics
  • Home Health Agencies
  • Hospice Programs
  • Native Hawaiian Health Centers
  • Skilled Nursing Facilities
  • Ambulatory Surgical Centers
  • Federally Qualified Health Centers
  • Indian Health Service Health Centers
  • Local or State Public Health or Human Services Department

Preference is given to those whose total base annual salary is less than 40% of their qualifying student loan. Nurses who select to work in facilities with severe nurse shortages, will also receive preferred funding. Eligibility requires that your education was earned from an accredited nursing school located in the Unites States.

You should read the Program and Application Guidance document before you apply. You can only apply once a year, so it is important that you read the instructions carefully so that you turn in an accurate application. The guide is updated annually, so always get a new copy before applying again.

If selected you will have to sign a contract that you will fulfill your two year obligation, at the facility listed in your application. Failure to fulfill your obligation, may result in serious financial penalties. You next step should be to obtain a copy of the Nurse Education Loan Repayment Program, Program and Application Guidance document. Everything you need to know and do to apply for the funding program will be explained in it.

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