Student loan forgiveness for nurses is the opportunity for borrowers who become nurses to have their federal loans discharged through national or state programs.
To qualify for these programs, you’ll need to meet specific criteria depending on the program you choose, so it’s important to research and understand the requirements before committing. Typically, many of these programs require that you fulfill certain work obligations for a period of time before your loans will be forgiven.
There are many options out there, so take the time to consider which one(s) might be a good fit for you.
Nurse Corps Loan Repayment Program
The NURSE Corps Scholarship and Loan Repayment Programs may pay up to 85 percent of unpaid nursing education debt (60 percent over two years with an option to extend to a third year for an additional 25 percent of the original balance) to qualifying nursing staff.
The Nurse Corps offers loan repayment to nurses who work in health centers, rural health clinics, hospitals, and other facilities experiencing a critical shortage of nurses; and to nurse faculty who teach full-time in eligible public or private schools of nursing.
You may be eligible for loan repayment if:
- a licensed registered nurse
- an advanced practice registered nurse, such as a nurse practitioner; or
- a nurse faculty member with qualifying nursing debt;
You received your nursing education from:
- an accredited school of nursing located in a U.S. state or territory.
You work full-time at:
- an eligible Critical Shortage Facility (CSF) in a high need area (for RNs, APNs),
- an accredited school of nursing (for nurse faculty).
HCAI Loan Repayment Programs
The various HCAI loan repayment programs assist with the repayment of qualified educational loans for eligible health care professionals.
HCAI plans to open the following program cycles on May 1, 2023.
- Allied Health Loan Repayment Program
- Bachelor of Science Nursing Loan Repayment Program
- Licensed Mental Health Services Provider Education Program
- Licensed Vocational Nurse Loan Repayment Program
- Steven M. Thompson Physician Corps Loan Repayment Program
County Medical Services Program (CMSP) Loan Repayment Program
CMSP assists with the repayment of qualified educational loans for primary care healthcare professionals who provide healthcare services at an approved site located in the 35 CMSP counties.
Faculty Loan Repayment Program
If you're a faculty member, the Bureau of Health Workforce will repay a portion of your health professional student loan debt ($40,000 max over two years). In return, you serve at an eligible health professions school.
You are eligible for the Faculty Loan Repayment Program (FLRP) if
- You come from a disadvantaged background. We base this on environmental and economic factors.
- You have an eligible health professions degree or certificate.
- You are a faculty member at an approved health professions school. You must have a contract for two years or more.
Public Service Loan Forgiveness Program (PSLF)
If you work in the public sector, you may be able to get your federal student loans forgiven through Public Service Loan Forgiveness after working full time and making 120 payments, which do not need to be consecutive.
Federal direct loans in good standing (for example, not in default) are eligible for forgiveness. Borrowers must work at least 30 hours per week for a government or nonprofit (including a nonprofit hospital) to be eligible.