how does loan forgiveness work for nurses

Best answer

The Public Service Loan Forgiveness (PSLF) program offers student loan forgiveness for nurses who are working full time for a government or nonprofit organization bypaying off the remainder of their loans after the first 120 payments. You must either have a William D. Ford Federal Direct Loan or consolidate existing loans into a Direct Loan.

People also ask

  • How do I get my nursing loan forgiven?

  • Public Service Loan Forgiveness Full-time working nurses who have made at least 120 monthly payments on their Direct Loan through an income-driven repayment plan can find reprieve from their debt. This program benefits nurses based on their employers rather than the type of work they perform.

  • What are the top 5 student loan forgiveness programs for nurses?

  • The top 5 student loan forgiveness programs for nurses are: 1 Public Service Loan Forgiveness Program (PSLF) 2 Nurse Corps Loan Repayment Program (NCLRP) 3 State-Level Loan Forgiveness. 4 Perkins Loan Cancellation. 5 Military Student Loan Forgiveness for Nurses.

  • Can nurses with student loan debt apply for forgiveness?

  • Nurses saddled with student loan debt can apply to state loan forgiveness programs. While guidelines and award amounts vary by state, generally nurses need to be U.S. citizens and hold a valid state license. States like California require nurses to work full time for two years, or part time for four years.

  • How does Maine’s student loan forgiveness work for nurses?

  • Unlike many other states, Maine’s student loan forgiveness for nurses does not require working in an HPSA, though those working in HPSAs receive 50% loan forgiveness each year. The program offers the greater of 25% of the original total loan amount or $7,500 forgiveness for each year of practice.

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