Student Loan Spinoff: How much? - page 3

This is a totally personal post about money, so feel free not to reply! Is anyone else taking on a lot of debt to go to school? I'll admit, in order for me to not work these 3 years while I'm... Read More

  1. by   GracefulRN
    Quote from shumarka
    Wow, I love this board. It's nice to find my concerns addressed by people in the same boat!

    Everyone I've talked to has told me the same thing-- that education is never a waste of money. I managed to get throught a bachelors without any debt, so taking out loans for nursing school has been a real worry for me. I've decided the loans are OK, but I'm doing everything I can to minimize them, because the nurse recruiters i've talked to have told me they reimburse soemthing like $5,000-- which is actually in lieu of your sign on bonus (some education reimbursement).

    I have heard that Perkins Loans can be up to 100% forgiven for those working as full time nurses. Has anyone else heard anything about that?
  2. by   rasmu
    Quote from GracefulRN
    I have heard that Perkins Loans can be up to 100% forgiven for those working as full time nurses. Has anyone else heard anything about that?
    The Federal Student Aid Web site lists a series of conditions, where Perkins loans can be cancelled:

    http://studentaid.ed.gov/students/pu...ncellation.htm

    Person working as a "Full-time nurse or medical technician" is on the list.

    That web page also talks about something called "NELRP", which is a loan repayment program for nurses (this is something different from cancellation). The only problem with NELRP is that the program is tiny, and it gets far more applicants than it can fund - in 2003, for example they only gave 22 awards for the entire state of New York, where I live.

close