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Student Loan Forgiveness for Nurses | Basic Guide

June 15, 2017 by James Taylor Leave a Comment

Student loan forgiveness for nurses is offered through a wide array of special programs.

Having one of the most in-demand jobs in the country, nurses are privileged with excellent options for student debt forgiveness.

One of the existing government policies under scrutiny now is the highly valuable Student Loan Forgiveness Program.

Before we see changes from the Trump administration, here’s a rundown on the existing programs for student loan forgiveness for nurses.

There are two types of loan forgiveness programs, federally funded and state-funded.

The following are three sought-after federal programs extended to nurses.

Getting Financial Help | Student Loan Forgiveness for Nurses

student loan forgiveness

Federal Perkins Loan Cancellation and Discharge


If you have taken out Perkins loans and work full-time as a nurse, then this program is for you!

Federal Perkins Loan offers a benefit known as incremental forgiveness. It means that a portion of your student loan can be forgiven for every year of service in the healthcare sector.

After serving for five years, you can qualify to have the rest of your Perkins loan forgiven.

Application for this program can be coursed through your loan servicer or your school (as long as they are part of the Perkins Loan Program).

NURSE Corps Loan Repayment Program

Need help applying to the NURSE Corps Loan Repayment Program?https://t.co/IMV6ByfVce @HRSAgov pic.twitter.com/MQZFEaB4ZN

— NLN (@NLNursing) January 24, 2017


This program is offered to Registered Nurses who work at underserved hospitals and clinics in Critical Shortage Facilities. They should have a minimum of 32 work hours per week.

“Underserved” hospitals and clinics are those which have no easy access to healthcare services.

Through this, the Federal Government offers to pay off 60% of your nursing education debt for two years of service at a qualified facility.

You also have an option to extend for one more year of service to have an additional 25% of your original loan balance paid off.

The application for the NURSE Corps Loan Repayment Program runs from January to March, so be sure to prepare for it early on if you plan to apply.

Public Service Loan Forgiveness Program

The PSLF Program is open to anyone working in the public sector. It was created with the intention to boost full-time employment in public service jobs.

So if you are considering a career in public health, take advantage of the PSLF.

If you have an outstanding balance from the William D. Ford Federal Direct Loan (Direct Loan) Program, then you are eligible. In addition, you must make 120 consecutive full and on-time payments on your Direct Loan.

Take note that only payments made after October 1st, 2007 are qualified for this program. The payments you make must be under a qualified repayment plan.

And they should be paid while you are working full-time at a qualified public health agency for at least 30 hours per week.

After the 120 payments have been made (which takes about 10 years to complete), all of your unpaid debt will be forgiven—no matter how much amount remains.

Plus, the loans forgiven under PSLF are not taxable income.

To apply, start by filling out the PSLF Employment Certification Form. Once accomplished, follow the instructions indicated in the form for submission to FedLoan Servicing.

State-funded student loan forgiveness programs


More than 30 states also have their own student loan forgiveness programs.

Some of them even offer as much as $50,000 in loan assistance!

Check if your state offers one by inquiring with your city council.

Want to learn more insights on student loan forgiveness programs? Watch this video from The College Investor:

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Student loan forgiveness for nurses is offered in abundance.

Whether federal or state-funded, there are opportunities that should be grabbed and maximized. If you are planning on utilizing one, do a thorough research on the program and ask for help from financial advisers.

Remember: your goal is to find the program that works best for you.

In what ways can student loan forgiveness for nurses help you? Share your thoughts with us in the comments section below! 

Can’t find a student loan forgiveness program in your state? Find out how you can make federal student loan forgiveness work to your advantage.

Filed Under: Nurse Student Loan Forgiveness, Student Loan Forgiveness

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