Did you know that there are special programs for student loan forgiveness for nurses?
You may be aware of the Biden administration’s broad student loan forgiveness plan, but we wanted to make sure you knew about several opportunities for student loan debt forgiveness specifically for nurses.
Before we look at these programs, it’s important to know that some of them have conditions that must be met for nurses to qualify for student loan forgiveness. As Nursejournal.org explains, “Student loan forgiveness programs come with strings attached. Many require students to fulfill work commitments for at least two years.”
But even so, these are excellent opportunities for nurses to save money on their student loan debt. Here are a few of our favorite student loan forgiveness programs for nurses.
Perkins Loan Cancellation
For nurses that work in underserved areas, you may be able to cancel your Perkins Loans. If you took out your loan before 2017, and have been working in an underserved area for 5 years, you may be eligible for forgiveness of 100% of your loan!
Nurse Corps Loan Repayment
NurseJournal tells us about the Nurse Corps Loan Repayment program. They explain “To help address the shortage of nursing school faculty, the Health Resources and Services Administration offers forgiveness of up to 85% of loans (plus interest) for RNs, APRNs, or nursing faculty.”
For student loans to be forgiven, nurses must work for three years in a facility deemed to have a critical shortage. Alternatively, a nurse can have loans forgiven by working at an accredited nursing school.
Public Service Loan Forgiveness
The Public Service Loan Forgiveness program has also been expanded. It now provides some student loan forgiveness for nurses, as COVID spread the ranks so thin.
Nurse.org says, “To earn this student loan forgiveness, you must work for a government organization, a 501(c)(3) not-for-profit organization, or any qualified not-for-profit organization that provides public services. You also must make your payments through an income-driven repayment plan.”
Employment history
With these, and other programs for student loan forgiveness for nurses, an accurate and handy employment history report can be a huge asset. Making sure that you can demonstrate, with correct dates and other data, that you worked for qualified organizations can make the difference between forgiveness and debt.
QuickConfirm is happy to work with nurses and with organizations to help ensure that student loan debt forgiveness is as easy and accessible as possible.