any RNs have their Perkins Loan cancelled?

Nurses General Nursing

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Specializes in L&D/Maternity nursing.

I have an undergraduate Federal Perkins Loan (for a non-nursing bachelors degree), which has the benefit of being cancelled for RNs working full time.

I work per diem...and work full time hours being per diem. I called up my lender and explained the situation, and they said it doesn't matter that I am per diem. That all I needed to do was get a letter from HR with a full time employee job description on the hospital's letter head and submit that along with a copy of my nursing license and that's all they need. Well that and the application requesting cancellation.

I clarified this twice over the phone with the dude I was speaking with. Mostly because it seems kinda strange that all they want is a job description of a full time employee...even though technically I am not one. Seems a bit, I don't know, too easy?

I am not sure if HR will give me that, but it can't hurt to ask. And if they won't, I'll at least get a job description for a per diem RN and then submit copies of my pay stubs that show how many hours I've been working. Maybe that will be enough.

Has anyone here had their Perkins Loan cancelled for being a RN? What was your experience like?

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Specializes in Public Health, School, Camp.

I am in the process of filling out the application for the loan cancellation as well. The person from my college that I'm working with said as long as I'm working full time with direct patient contact and that it could be verified by my employer I should have no problem.

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Specializes in Transgender Medicine.

I thought you had to have worked for some specific amount of time as an RN before you could do this? If not, let me know, and I'm all in! :)

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Specializes in Telemetry.

Hey, I have a Perkins loan too. Mine has worked like this:

If you are a full time RN for a total of 5 years, the entire loan is waived. You just have to show proof (there is a form for your employer to fill out) each year that you have worked or anticipate to work full time. If you do not work full time for the total 5 years, then a certain percentage of the loan is waived for each year that you have worked.

Mine was a $10,000 loan and since I have already put in 2 years of service, I have 30% of the loan waived (15% for each year worked). So if I decide to quit nursing right now, I'll owe $7000. Until then, I will mail in my cancellation form signed by my employer each year until all 5 years are complete and the entire loan is waived.

I believe that if you are a PRN nurse but still working >36 hours a week, you just need your employer to verify this and write a letter on an official letterhead and mail that in along with the standard form they require.

All nurses in school that need loans should get Perkins loans...it has been totally worth it to me! :) You don't have to find a job that has loan forgiveness once you are out. Good luck!

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Specializes in Emergency; med-surg; mat-child.

I'm pretty sure that the loan needs to be for the nursing program, not another degree, and that you have to pay for X years straight before they consider it. It's pretty easy to look the information up . . .

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Specializes in L&D/Maternity nursing.

Pockunit, I have looked far and wide into this. I've also called and was told that I qualify.

Here is the info I was basing my inquiry off of http://projectonstudentdebt.org/files/pub/Loan%20Forgiveness.pdf

It mentions nothing about the specific lending educational institution and/or program of study. So it is my understanding that if you are an RN and have a Perkins Loan of some sort, you qualify for loan forgiveness.

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Specializes in Telemetry.

The above post that states "the loan needs to be for the nursing program, not another degree" is incorrect.

I took out a Perkins loan for my first degree which was in Health Science. I entered an accelerated nursing program immediately upon graduation of my first degree and now I'm a full time RN. I am going through the cancellation process right now and haven't had any issues since the loan was technically taken out for my first degree. As long as you are an RN taking care of patients for 5 years full time, you qualify for loan cancellation.

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Specializes in Telemetry.

Also, I haven't paid a single dime to my Perkins loan, nor am I required to.

Portions of it are being waived on a yearly basis as I keep up with the paperwork documenting my full time RN status until the 5 year mark at which point the entire loan is cancelled.

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Specializes in Critical Care.

anyone know if it can be retroactive? i'm in my second year of work

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Specializes in Critical Care.

Also where is step one for this? I keel getting confused about where to START! or even who to talk to. Thank you in advance for anyone who can tell me!

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Specializes in L&D/Maternity nursing.

I got my form from http://www.acs-education.com Its who manages my loan. They've also mailed it to many times during my deferment period (when I went back to school for nursing).

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Specializes in Telemetry.

@roma4204, go to ecsi.net for perkins loans, click 'students' and go to their faq's and/or create a login to view the status of your loan. There should also be a customer service number available to ask questions about retroactively cancel a loan. May take some legwork/paperwork on your part but totally worth it!

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