Thanks to state-specific and federal initiatives, nurses have access to some of the best student loan forgiveness programs out there. Some offer forgivable loans to help offset your initial college costs while others offer loan forgiveness following graduation. If you are a nurse, find out what programs you qualify for based on where you live and the type of loans you have. Read on below to learn about over 50 different programs for student loan forgiveness for nurses.
Federal Student Loan Forgiveness for Nurses
Public Service Loan Forgiveness
The United States Department of Education sponsors a general loan forgiveness program that nurses qualify for. Under the Public Service Loan Forgiveness program, the government will forgive the full balance on direct loans taken out on or after October 1, 2007. To receive loan forgiveness, the borrower must make 120 monthly payments and hold a full-time public service job, or a non-profit during that 10-year period. Public health positions like nurses, nurse practitioners, and nurses in a clinical setting fulfill the public service job requirement. Check the program’s specifications to ensure that your loans qualify.
NURSE Corps Loan Repayment Program (LRP)
The Nurse Corps LRP addresses two problems at once. It entices qualified nursing professionals to work in areas of high medical need by offering to pay off a portion of their nursing school debt. Licensed nurses, advanced practice registered nurses, and nurse faculty members are eligible to apply.
If accepted to the program, you must agree to work in an eligible Critical Shortage Facility in a high need area or at an accredited nursing school for two years. In exchange, the Nurse Corps will pay off 60% of your unpaid nursing education debt over the same two-year period. If you want to extend your work for a third year, Nurse Corps will cover an additional 25% of your loan’s original balance. This unique loan forgiveness program for nurses covers Stafford loans, Grad Plus loans, consolidation loans, Perkins loans, and private student loans.
Interested in the Nurse Corps Loan Repayment program? Act now. The application deadline ends March 8, 2018. Keep in mind that not everyone who applies to this repayment program is accepted. Preference goes to those exhibiting financial need.
National Health Service Corps (NHSC) Loan Repayment Program
The National Health Service Corps provides nurse practitioners who want to work in high need communities with a way to reduce their student debt. Only primary care nurse practitioners, certified nurse-midwives, and psychiatric nurse specialists can apply. As part of the program, you must work at an NHSC-approved Health Professional Shortage Area (HPSA) site for at least two years. The amount of funding you receive depends on the need of the community you work in:
- HPSA Score of 14-26: Up to $50,000 for full-time workers; Up to $25,000 for halftime workers
- HPSA Score of 0-13: Up to $30,000 for full-time workers; Up to $15,000 for halftime workers
Nurse practitioners interested in this program and the Nurse Corps Loan Repayment Program can apply to both but can only accept loan repayment from one. Make note that this program offers forgiveness for part-time workers, while Nurse Corps does not.
Perkins Loan Cancellation for Nurses
Registered nurses, licensed practical nurses, certified nursing assistants, medical assistants, and American registered nursing practitioners qualify for the U.S. Department of Education’s Perkins Loan Cancellation program. This program forgives a percentage of your Perkin’s Loan’s principal and interest for each year of service. Here is how they calculate the percentage:
- 15% canceled after 1 and 2 years of full-time employment
- 20% canceled after 3 and 4 years of full-time employment
- 30% canceled after 5 years of full-time employment
Under this program, you will have 100% of your Perkins loan forgiven after just 5 years of full-time employment—twice as fast as the public service loan forgiveness program. Unlike with other federal programs, you apply directly to the college that awarded you the Federal Perkin’s Loan.
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Student Loan Forgiveness for Nurses – Breakdown by State
The majority of states offer specific loan forgiveness programs for nurses. Most require a commitment to working in a Health Professional Shortage Area (HPSA). These areas are in desperate need of qualified full-time and halftime nurses and nurse practitioners. You must be licensed to practice in a state to qualify for its loan forgiveness programs. Look for your state below to see what opportunities it offers.
Alabama’s Advanced Practice Loan Repayment program awards loans to registered nurses licensed in Alabama who are pursuing a CRNP, CNM, or CRNA degree. This unique program fronts students $12,000 toward their education in exchange for an 18-month commitment to work in a Board-defined Area of Critical Need following graduation. Those applying must provide proof of Alabama residency going back at least one year. Participants receive a loan for one year of schooling but can reapply for up to three years of funding.
SHARP-I: If you can brave the cold, nurses could receive up to $20,000 of loan forgiveness per year in exchange for working a minimum of two years in an Alaskan HPSA. For those who assume a very hard-to-fill position, you can earn up to $27,000 as a full-time worker. You may have the chance to extend your service for up to two additional years.
SHARP-II: This program follows the same basic premise of SHARP-I. However, nurses must make a three-year commitment, and it requires that your employer make a 25% match. You can also receive additional funding in exchange for three more years of service with a maximum of 12 years in the program.
To take part in any SHARP, you cannot receive any other support-for-service awards like the National Health Service Corps or NURSE Corps loan repayment program.
Arizona’s Primary Care Provider Loan Repayment Program and Rural Private Primary Care Provider Loan Repayment Program offer up to $50,000 in student loan forgiveness for nurses for a minimum two-year commitment with the chance for renewal. You must work in an Arizona HPSA. The amount of forgiveness you receive depends on the priority level of your practice location. Nurse practitioners who work in family medicine, pediatrics, obstetrics, internal medicine, or geriatrics qualify. Certified nurse midwives do too. The programs accept full-time and halftime workers.
Repayment under both is an added bonus to your regular compensation package, so it is tax-exempt. If you commit to a program in Arizona, you may not commit to the National Health Service Corps or Nurse Corps program.
Bachelor of Science Nursing Loan Repayment Program: BSN-holders that are currently licensed as Registered Nurses in California can apply. If accepted, you must commit to a practicing full-time direct patient care in a qualified facility for one year. Examples of qualified areas include Medically Underserved Area (MUA), Health Professional Shortage Area – Primary Care (HPSA-PC), a Veteran’s facility or a county or state prison. Recipients receive up to $10,000 in nurse loan forgiveness.
Advanced Practice Healthcare Loan Repayment Program: Certified nurse midwives and nurse practitioners can apply to this California program. Those accepted have to work full-time in a medically underserved area for 12 months. In exchange, you will receive up to $25,000. Qualified facilities for this program are the same as those listed above.
Make note that you cannot participate in any of California’s program if you are currently participating in the NHSC or Nurse Corps loan repayment program. Still in school? California also offers several scholarship opportunities for aspiring nurses and nurse practitioners.
The Colorado Health Service Corps gives up to $50,000 to qualified individuals who work in an approved site for a three-year term. To be eligible, you must work in an HPSA, performing primary health care services in a clinic by the first day of the application cycle. This program is open to part-time and full-time certified nurse-midwives, psychiatric nurse specialists, and nurse practitioners.
If you are already under another service obligation, you cannot participate.
Nurse practitioners, certified nurse midwives, and psychiatric nurse specialists can apply to the federally supported Delaware State Loan Repayment Program (SLRP). Accepted applicants must commit to serving two years in an area of high need in order to receive repayment assistance. The minimum reward for two years of service is $30,000 and the maximum is $100,000. A one-year continuation award is also available for an additional up to $30,000 in loan forgiveness. Both federal and private student loans are eligible.
Employers of accepted participants must provide a 50% match. This can come from the site directly or from community sponsors.
District of Columbia
The Washington D.C. Health Professional Loan Repayment Program (HPLRP) offers medical professionals, including RNs and advanced practice nurses, up to $79,876 over four years. To receive funding, nurses must work full-time at an approved Service Obligation Site (SOS). Applicants must already work for or have a signed contract to work for an approved facility prior to applying. This program pays 18% of the overall loan balance in year one, 26% in year two, and 28% each for years three and four.
Nurses licensed in Florida as an LPN, RN, or ARNP may be eligible for the Nursing Student Loan Forgiveness Program. The program combats critical nursing shortages by offering up to $4,000 per year to nurses willing to work full-time in a high-need area. You can renew your commitment for a maximum of four years.
Some examples of qualified sites included state medical and healthcare facilities, public schools, teaching hospitals, specialty hospitals for children, and county health departments. Licensed hospitals, nursing homes, or birth centers who match state contributions 100% are also eligible.
Georgia’s Advanced Practice Registered Nurse Loan Repayment Program (APRNLRP) awards service-cancelable loans of up to $10,000 per year. Participants sign a one-year contract and can renew it up to three times. Following graduation, accepted APRNs must work in an underserved rural Georgia county. To qualify, you must be licensed to practice in Georgia. Make note that this program awards funds on a first-come, first-serve basis with the application period opening on September 1.
The Hawaii State Loan Repayment Program exists to recruit and retain nurses in areas of high need by providing them with student loan forgiveness. Certified nurse midwives and primary care advanced practice nurse practitioners specializing in adult, family, pediatrics, psychiatry/mental health, geriatrics, or women’s health can apply. Participants must work full-time for two years or halftime for four years in an HPSA. This award requires a 50% match from a work site or donor. Applications are accepted on the first of every month.
You cannot participate in Hawaii’s program if you are participating in any other service-based loan repayment program.
Idaho offers its State Loan Repayment Program to incentivize qualified health professionals to continue or start working in an HPSA. Nurse practitioners, certified nurse midwives, and psychiatric nurse specialists are all eligible. Participants must sign a full-time or halftime two-year service obligation. The award amounts to $10,000 to $15,000 for halftime workers and $20,000 to $30,000 for full-time workers. This 1:1 matching program requires equal funding from the federal government and employment site. Funds received are exempt from state and federal income taxes.
Nurse educators licensed in Illinois can apply to the state’s Nurse Educator Loan Repayment Program. Designed to encourage nurse educators to continue teaching, the program only accepts individuals who have worked as a nurse educator for at least 12 consecutive months prior to applying. The program annually awards up to $5,000 toward loan repayment. You can earn this award up to four times for a total of $20,000 in student loan forgiveness.
Iowa offers the Iowa Registered Nurse and Nurse Educator Loan Forgiveness program. Registered nurses working in Iowa and nurse educators with their master’s, specialists, or doctorate degrees who work in eligible Iowa colleges or universities are eligible. Applicants must work at least quarter-time to qualify. The state awards a maximum annual award of 20% of a participant’s total eligible federal student loan balance. You can receive student loan forgiveness for up to five consecutive years.
If you are a certified nurse practitioner, nurse midwife, or psychiatric nurse specialist, Kansas has a program for you. The Kansas State Loan Repayment Program provides up to $40,000 of student loan forgiveness for nurses. In exchange, accepted applicants must make a two-year commitment to work full-time in an area of high need. Nurse practitioners and nurse midwives who apply must practice in an approved primary care specialty located in a Kansas HPSA.
Individuals who are currently under another service commitment cannot receive this award. Both commercial and federal loans are eligible for forgiveness. Plus, the funds awarded are exempt from your gross income taxes.
The Kentucky State Loan Repayment program (KSLRP) partners with eligible employers and the National Health Service Corps to attract qualified talent to Kentucky HPSAs. Each year, the KSLRP grants up to $300,000 spread across thirteen participants. Both the participant and employer must agree to a two-year commitment. There must be a 1:1 match for every federal dollar given by KSLRP. The 50% match can come from the employer; local, state, or national foundations; family or friends; or the recipient. Registered nurses are eligible to receive up to $20,000 while nurse practitioners can receive up to $40,000.
Louisiana sponsors the Louisiana State Loan Repayment Program for health professionals including nurse practitioners, certified nurse midwives, and psychiatric nurse specialists. Eligible individuals must work full-time in a federally designated HPSA, be licensed to practice in Louisiana, and have no other service commitment obligation. For a three-year initial commitment, accepted applicants will receive up to $15,000 per year in student loan forgiveness for nurses. Participants can apply for a two-year extension and receive an additional $24,000 toward their federal and commercial student loans.
The Janet L. Hoffman Loan Assistance Repayment Program (LARP) offers public service workers (like nurses) an award of up to $30,000 toward student loan repayment. In exchange, they must remain working in a position serving low-income or underserved residents for three years. This program has several other eligibility requirements as well:
- You must work full time for a state, local government, or non-profit organization
- You must hold a degree from a Maryland college
- You must be a Maryland resident
- If single, your annual gross salary cannot exceed $60,000
- If married, your annual gross salary cannot exceed $60,000, and your combined salaries cannot exceed $130,000
- If you are a nurse faculty member, your annual gross salary cannot exceed $75,000
- If you are a married nurse faculty member, your annual gross salary cannot exceed $75,000, and your combined salaries cannot exceed $160,000
- You cannot participate in another service obligation at the same time
The amount of money you receive depends on your total commercial and federal student loan debt. You receive one-third of the overall award limit each year. If you are participating in the Federal Public Service Loan Forgiveness program, you are still eligible to apply. Plus, you can request monthly payments instead of a lump sum.
Primary health care professionals licensed and working in Massachusetts can apply for the Massachusetts Loan Repayment Program (MLRP). Nurse practitioners, certified nurse-midwives, and psychiatric nurse specialists are all eligible. In exchange for up to $50,000 toward loan repayment, accepted applicants must commit to work full-time for two years or halftime for four years at an approved facility in an HPSA.
Recipients may not take part in another incentive program including the National Health Service Corps.
The Michigan State Loan Repayment program (MSLRP) requires recipients to work full-time at non-profit health clinics in HPSAs for two years. Emergency rooms, the emergency department, inpatient hospitals, and Veterans’ Administration practice sites are not eligible. Qualified nurse practitioners, certified nurse midwives, and psychiatric nurse specialists can apply. The amount of money awarded depends on the individual participant’s debt load. The maximum amount for the two-year commitment is $50,000. You can renew for a total of eight years and up to $200,000 in debt relief. Since this is a matching program, employers must contribute 20%.
This program stipulates that you can simultaneously participate in the Federal Public Service Loan Forgiveness Program but not in the NHSC LRP.
Minnesota Nurse Loan Forgiveness Program: Students in RN or LPN programs and licensed RNs and LPNs can apply to this state program. It requires a minimum two-year commitment to serve in nursing homes; an Intermediate Care Facility for people with developmental disabilities; housing with services establishment; home care; or a hospital that operates a licensed nursing home. Applicants opting for the last option must spend 50% of their time working in the nursing home. Each year, participants receive $5,000 in student loan forgiveness for nurses. This can go toward federal, commercial, or foundation student loans. Participants can renew for an additional two years.
Minnesota Nurse Faculty Loan Forgiveness Program: Licensed health professionals that teach allied health care or advanced nursing could receive $9,000 yearly. This program requires a three-year commitment to teaching in the nursing field at a Minnesota postsecondary institution. Participants must teach a minimum of twelve credit hours per year. After the initial commitment, educators can renew for an additional year.
Health Professional Nursing Student Loans: Missouri residents studying at a Missouri nursing school with an 80% pass rate can apply to this state program. Applicants must have a minimum GPA of 2.5. LPN students can receive up to a $2,500 service-cancellable loan while diploma, associates, bachelors, and graduate students can receive up to $5,000. Graduates earn loan forgiveness by completing a service obligation in an HPSA. One service year forgives one loan. They can also make cash repayment at a 9.5% interest rate.
Nurse Loan Repayment Program: Under this program, registered nurses earn a maximum of $10,000 and advanced practice nurses earn up to $20,000. In exchange, they must commit to working in an HPSA for two years. Participants will practice primary care in places like federally qualified health centers, rural health clinics, free clinics, or school-based clinics.
Registered nurses practicing in a Montana state prison or Montana state hospital can apply for the Montana Institutional Nursing Incentive Program. The amount awarded varies year to year based on state funding. However, funding is limited to a maximum of $3,750 per year for four years. Only federal and private student loans that paid for a nursing education qualify. Participants receive the yearly amount after completing 12 months of service in an approved facility.
If your loans are under another loan repayment program, you cannot participate in Montana’s program.
The Nebraska Loan Repayment Program for rural health professionals is a local-state matching fund program aimed at bringing qualified practitioners into areas of high need. For nurse practitioners, the local organization must fund up to $15,000 per year for three years and then the state will match it. Nurse practitioners working in family practice, general internal medicine, general pediatrics, obstetrics/gynecology, general surgery, and psychiatry qualify. Accepted applicants must agree to serve full-time or half time for three years in an approved setting.
Individuals accepted to the New Hampshire State Loan Repayment Program must work in a medical-underserved area for three years if full-time and two years if part time. Many types of health professionals qualify for this program including certified nurse midwives, psychiatric nurse specialists, and primary care certified nurse practitioners licensed in New Hampshire. Additionally, applicants must be U.S. citizens and free from any other service obligation.
Full-time participants will receive $45,000 for the minimum three-year service obligation and an added $20,000 for serving two more years. Part-time participants will receive $17,500 for fulfilling the minimum service obligation of two years and an added $5,000 for serving an additional year. Candidates who have a secured 1:1 funding match are given preference.
Certified nurse midwives and nurse practitioners can benefit from New Jersey’s Primary Care Practitioner Loan Redemption Program (NJLRP) . Rutgers Biomedical and Health Sciences administers this program in conjunction with the New Jersey Higher Education Student Assistance Authority. Once accepted, individuals must commit to working in an HPSA for a minimum of two years and a maximum of four years. The NJLRP awards providers up to $120,000 over four years of service. Only federal and commercial graduate loans are eligible. This is how they calculate the disbursement:
- Year One: 18% of the current loan balance up to $21,600
- Year Two: 26% of the current loan balance up to $31,200
- Year Three: 28% of the current loan balance up to $33,600
- Year Four: 28% of the current loan balance up to $33,600
To receive any funding in a given year, participants must complete the full year of service. Awards are tax free for federal taxes but are subject to state taxes.
Health Professional Loan Repayment Program (HPLRP) : The HPLRP pairs qualified health professionals with facilities in medically underserved areas. In exchange, providers receive up to $25,000 per year for a two-year commitment. For-profit sites and private practice sites are not approved places of employment, but most non-profit sites are. Advance practice nurses are eligible to apply as long as they are employed full-time and are U.S. Citizens or permanent resident aliens. Make note that graduates of New Mexico public post-secondary institutions are given preference.
Nursing Loan-for-Service Program: College students enrolled in a nursing program at a New Mexico public college or university can apply to receive a forgivable loan through the Nursing Loan-for-Service program. Students must have proof of New Mexico residency going back at least one year, study at least halftime, and demonstrate financial need. In exchange for the loan, students must declare their intent to work in a designated shortage area in New Mexico. Some examples of shortage areas include community health centers, federally qualified health centers, Indian health service, migrant health centers, and non-profit hospitals.
The loan received will not exceed $12,000 per year. For each year of service, a portion of the loan will be forgiven. This student loan forgiveness for nurses program lasts for up to four years upon application resubmission.
The NYS Nursing Faculty Loan Forgiveness was made to increase the number of adjunct clinical faculty and nursing faculty that teach nursing in NYS. Participants receive $8,000 for each service year with a cap of up to $40,000 spread over five years.
To be eligible, applicants must:
- Have proof of residency going back at least 12 consecutive months
- Be a U.S. citizen or eligible non-citizen
- Be an R.N. licensed to work New York state (NYS)
- Hold a master’s degree in nursing or a doctoral degree
- Have previous experience as a licensed RN in a clinical setting
- Be employed as a nursing faculty member or adjunct clinical faculty member leading classroom or clinical instruction at a NYS nursing school
- Work at least 12 credit hours during a one-year period running July 1 to June 30
Any student studying to work in a critical employment shortage profession can apply to North Carolina’s Forgivable Education Loans for Service program (FELS). This includes students studying to become nurses (LPN, ADN, BSN, or higher), nurse educators, or nurse practitioners. Only legal NC residents are considered. This program also has minimum GPA requirements of 3.00 for graduating high school students, 2.80 for undergraduate students working toward a bachelor’s degree, and 3.20 for graduate students. Students also must plan to enroll in a minimum of six credit hours per semester at an eligible institution.
FELS awards annual loan amounts based on the student’s credit load, year, and degree program. It awards up to $6,000 for associate’s degree programs, up to $20,000 for bachelor’s degree programs and master’s degree programs, and up to $56,000 for doctorate programs. Upon graduation, students can seek loan forgiveness through an approved job in NC sor pay the loan back. One year of service wipes out a single loan awarded during an academic year.
Nurse Education Assistance Loan Program (NEALP) for Future Nurses: NEALP awards students forgivable loans. Eligible students are Ohio residents enrolled in at least halftime study in an approved Ohio pre-licensure nurse education program. The most recent annual award was $1,500. Loans are granted first to students who demonstrate highest need based on their FAFSA. The total loan amount will not exceed $12,000 spread over up to eight semesters. To receive 100% loan forgiveness, graduates must work as a full-time nurse in Ohio for five years.
Nurse Education Assistance Loan Program for Future Nurse Instructors: Registered nurses enrolled in an Ohio post-licensure nurse education program that plan to work as nurse educator can apply for this program. The minimum award is $5,000 per year. Students demonstrating high financial need are given preference. To qualify for loan forgiveness, graduates must work as nurse faculty members at an approved facility for at least four years.
Under the Oregon Partnership State Loan Repayment program, primary care nurse practitioners, certified nurse midwives, registered nurses, and psychiatric nurse specialists can apply to receive up to $100,000 in loan forgiveness. Providers must commit to working full-time for two years or halftime for four years in an HPSA. The percentage of loan forgiveness awarded per year is based on the participant’s service site’s HPSA score. A one-year continuation option forgives an additional 25% of remaining loan balances. Service sites must provide a 50% match along with a 10% administrative fee.
The Pennsylvania Primary Health Care Loan Repayment Program is offered by the Department of Health to improve recruitment and retention efforts in medically underserved areas. Primary care practitioners like certified registered nurse practitioners and certified nurse midwives can apply. In exchange for working in an HPSA, applicants will receive up to $60,000 for full-time work and up to $30,000 for halftime work. Before you turn in your application, your employer must submit a practice site application and have it approved.
Rhode Island’s Health Professionals Loan Repayment Program forgives student loan debt of those working in an HPSA. Only public and non-profit health facilities are eligible. To qualify, full-time health professionals have to make a two-year commitment to work directly with patients at an ambulatory outpatient site. Part-time providers must make a four-year commitment. RNs, psychiatric nurse specialists, primary care certified nurse practitioners, and certified nurse midwives can apply. Rhode Island offers 8 to 10 awards annually that collectively total $250,000.
You cannot simultaneously participate in this program and another federal or state service obligation.
The Graduate Nursing Loan Forgiveness Program awards loans to registered nurses studying to become nursing administrators and educators in TN. To apply, students must be Tennessee residents and attend a master’s or post master’s degree program at an eligible Tennessee school. Accepted applicants will receive a one-year service-cancellable loan that can be renewed three times. Total loan forgiveness is awarded after graduates complete four years of employment in a faculty or administrative position at a TN nursing education program.
The Rural Communities Health Care Investment Program (RCHIP) awards medical professionals with up to $10,000 in loan forgiveness or stipend. In exchange, providers agree to work in a primary care HPSA or Medically Underserved Area (MUA) for 12 consecutive months. Accepted applicants cannot participate in any other type of loan repayment or incentive program.
Eligible nurses are licensed in Texas and either:
- Earned their licensed within two years prior to applying OR
- Currently work in a county with over 500,000 and move to work in a qualifying HPSA or MUA. (Nurses who live or work in a qualifying community for over one year before applying are ineligible)
Educational Loan Repayment Program for Nurses: This program attracts qualified healthcare professionals to underserved areas by offering student loan forgives for nurses. LPNs and RNs living in Vermont can apply for this program to receive a grant of up to $10,000. Participants must work a minimum of 20 clinical hours per week for their entire two-year commitment. Nurses must practice direct care in nursing homes, long-term care, home health, state public health, mental health, behavioral health, or substance abuse settings. You are ineligible if you currently have any other loan repayment service-obligation. Participants do not have to pay income taxes on the grant money.
Educational Loan Repayment Program for Primary Care and Psychiatry Practitioners: Nurse practitioners and certified nurse midwives who agree to work for two years in an HPSA can apply for this program. It offers up to $20,000 in state/federal funds per year and requires a 1:1 match. Earnings are tax exempt and directly repay federal or commercial nursing education loans. Funds are available for a maximum of six years per participant.
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. Participants must sign a contract to work full-time for two years in an HPSA. Awards amount to a maximum $100,000 for the initial two years—50% of that amount comes from a 1:1 employer match. Those who renew for an additional two years (maximum service term of four years) receive up to $40,000 per year.
Virginia residency is not required to participate, but your daily commute should not exceed two hours each way. Any other service obligations must be fulfilled before beginning service.
Health Professional Loan Repayment Program: This state-funded program awards a maximum of $75,000 to qualified health professionals. Certified nurse midwives, nurse practitioners, and RNs are eligible. Participants must work at an approved site for at least 24 hours per week for a minimum of three years. For part-time workers, the service obligation period is prorated to three-year, full-time equivalency.
Federal-State Loan Repayment Program: Primary care nurse practitioners, RNs, and certified nurse midwives receive up to $70,000 per year for a two-year service commitment. They must work full-time at an approved facility in an HPSA.
Nurse practitioners and nurse midwives can apply for the West Virginia State Loan Repayment Program. For a two-year commitment to working in an HPSA, participants receive $40,000 in loan forgiveness. For two more years, they can earn another $50,000 total. Participants cannot fulfill another service obligation at the same time.
The Health Professions Loan Assistance Programs awards primary care nurse practitioners and certified nurse midwives up to $25,000 for fulfilling a three-year service obligation. Providers agree to practice in shortage areas like HPSAs, federally qualified health centers, community health centers, or on American Indian reservations. Wisconsin residency or being a graduate of a Wisconsin school is not a requirement.
Wyoming State Loan Repayment Program: Nurse practitioners and certified nurse midwives accepted to this program receive up to $20,000 in loan repayment. In exchange, they must work full-time for a minimum of two years at an approved National Health Service Corps site.
Wyoming Healthcare Professional Loan Repayment Program: Under this program, advanced practice registered nurses, RNs, LPNs, and certified nurse assistants can receive up to $10,000 per year in loan forgiveness. In exchange, they must practice in an HPSA for a minimum of three years. As of June 30, 2018, this program is not funded. Sign up for the Office of Rural Health list serve to be notified of a future application announcement.
Other Options for Student Loan Forgiveness for Nurses
This federal program offers student loan repayment to individuals committed to working at an Indian health facility for two years. These facilities must serve American Indian and Alaska Native communities. Advanced practice nurses and nurses with their BSN can apply. Certified Registered Nurse Anesthetists (CRNA) receive priority consideration. Participants receive up to $40,000 in loan forgives over their service period.
To attract top talent, some hospitals offer tuition assistance and student loan forgiveness for nurses who make a multi-year commitment. Check with your hospital to see what programs they offer. This is also something to consider if you are searching for a new job.
Military Loan Forgiveness Programs
If you want to use your nursing education to serve your country, you may be able to have some student loans forgiven along the way. Several military branches offer student loan forgiveness for nurses in exchange for committing to serve for a set number of years.
Things to Keep In Mind
It is crucial to stay up-to-date on programs you are interested in, especially if you have not yet finished school. All programs for student loan forgiveness for nurses have specific eligibility requirements and application deadlines. Read through all program information to confirm your eligibility and apply as soon as possible—remember, some programs are on a first-come, first-serve basis. Plus, many repayment programs also change year to year as state and federal funding changes.
Compare the Best Student Loan Refinance Rates
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Student Debt Relief Loan Refinancing Advertiser Disclosure
College Ave: College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
College Ave Refi Education loans are not currently available to residents of Maine.
1 – The 0.25% auto-pay interest rate reduction applies as long as the borrower or cosigner, if applicable, enrolls in auto-pay and authorizes our loan servicer to automatically deduct your monthly payments from a valid bank account via Automated Clearing House (“ACH”). The rate reduction applies for as long as the monthly payment amount is successfully deducted from the designated bank account and is suspended during periods of forbearance and certain deferments. Variable rates may increase after consummation.
2 – $5,000 is the minimum requirement to refinance. The maximum loan amount is $300,000 for those with medical, dental, pharmacy or veterinary doctorate degrees, and $150,000 for all other undergraduate or graduate degrees. Information advertised valid as of 04/26/2019. Variable interest rates may increase after consummation.
3 – This informational repayment example uses typical loan terms for a refi borrower with a Full Principal & Interest Repayment and a 10-year repayment term, has a $40,000 loan and a 5.5% Annual Percentage Rate (“APR”): 120 monthly payments of $434.11 while in the repayment period, for a total amount of payments of $52,092.61. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
ELFI: Subject to credit approval. Terms and conditions apply. To qualify for refinancing or student loans consolidation through ELFI, you must have at least $15,000 in student loan debt and must have earned a bachelor’s degree or higher from an approved post-secondary institution.
LendKey: Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
CommonBond: Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate.
Splash Financial: Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Rates and terms are also subject to change at any time without notice. Offers are subject to credit approval.com
Earnest: To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.
Earnest’s fixed-rate loan rates range from 3.89% APR (with autopay) to 7.89% APR (with autopay). Variable rate loan rates range from 2.50% APR (with autopay) to 7.27% APR (with autopay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms of 10 years or less. For loan terms of 10 to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 0.26% and 5.03% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of April 23, 2019 and are subject to change based on market conditions and borrower eligibility.
Auto Pay Discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
The information provided on this page is updated as of 04/23/19. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice.
Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 303 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, e-mail us at firstname.lastname@example.org, or call 888-601-2801 for more information on our student loan refinance product.