Nurses have rewarding careers that allow them to care for people and serve the community. One of the main issues many nurses face is repaying student loans from college. Thankfully, there are a variety of programs that aim to provide all types of nurses with student loan forgiveness.
Nurse Corps Loan Repayment Program
This program repays over half of a nurse’s unpaid student loans, whether they are private or federal. Registered nurses that work more than 32 hours per week are eligible to join this beneficial program. The student loans are paid off over 2 years of employment as a nurse. Student loan forgiveness for nurses can continue into the third year with this program as well, with an extra 25 percent paid off.
This is not a complicated program to join. You can only apply once a year, and you must already be working at a nursing facility. You should double check that you meet the requirements for the NCLRP before applying.
Perkins Loan Cancellation and Discharge
Perkins loans were once available to nurses with lofty financial needs. They are no longer made out to students anymore. If you are a nurse who took on Perkins loans then you could qualify to have 100 percent of those loans cancelled.
Nurses should be working full time at a nursing agency to be considered eligible for this program. The loans will be paid off incrementally over five years once your application is approved. This loan forgiveness program is arguably the most effective if you are a nurse with outstanding Perkins student loan debt.
State Loan Forgiveness Programs
Nurses should research loan forgiveness programs in the state they are currently residing in. Certain state loan repayment programs necessitate that you are employed at a designated service shortage area.
Are you interested in learning more about loan forgiveness for nurses? Visit our website for a full rundown of student loan forgiveness programs. Also, Cynamed can help you find the perfect nursing job out there for you.