Florida Nurse Loan Forgiveness

Tweety, BSN, RN · Dec 21, 2008

I am hopefully going to get my first $4000 payment to my loan at the end of this year. It was relatively painless. I was approved last year and had to work at my job this entire year, which I've done.

The facility only verifies employment, otherwise isn't involved in anyway and doesn't fund it. It's funded by the BON with funds earmarked when our license fees were tripled about 10 years ago.

The irritating thing is that things have to be signed, with a seal, in person and you have to send the originals to the state, so no faxes or copies. All my employer had to do was sign a form saying I worked there at a certain date, and the loan company had to write down the balance on the loan.

Right now I've mailed out the form to my loan company in Virginia and they haven't sent it back, but it's been only a week. Once they send it back, I'll get my employer to state that I worked there this past year, then the Loan Forgiveness Programs pays the loan company $4000.00.

Next year, I do it again, but the payoff will be less than 4 grand and my student loans will be paid off in two years rather than the 10 I signed up for. Sweet.

untamable07 · Dec 21, 2008

So your employer verified employment when you first signed up for the program and then again

at the end of the year? Well I graduate in May and have student loans so hopefully I can reap

the benefits of this program as well!!! What determine how much they pay per year?

untamable07 · Dec 21, 2008

One other question, does it matter that some of loans are consolidated? And what if you have multiple

loans but they are from the same lender.

nursegreen · Dec 28, 2008

You can get this information from the FL BON website or go to Google and type Nurse Forgiveness Loan Florida. I too have applied and am awaiting payment. There is a max that they will pay out and it is over a scheduled time frame. Any little bit helps!!!!!

Tweety, BSN, RN · Dec 29, 2008

Yes, they verify your employment both times.

I didn't pay attention to the lifetime max since I "only" need $7000.00, but it's $4,000.00 per year up to a max of something. It's definitely a worthwhile program for me, since I was already working for one of those facilities anyway.

Good luck!

Tweety, BSN, RN · Jan 22, 2011

Just to followup...I did get the $4,000 payout and the following year I received an additional $2000.00.

So for a $7K loan I paid only $1,000.00 A pretty cool benefit.

I'm now looking into to whether it needs to be reported as income and taxes paid. I have a friend that just took a refresher course in taxes and says no. I did pay income tax on the $4K and he says I should file an amendment to get that money back. I'm looking into it.

Crux1024 · Jan 25, 2011

Would this program apply to an nurse who schooled and licensed initially in another state, but now working in FL and still with loans?

(Yes, Ill google it but I figured it was worth a shot. )