Loan forgiveness options? Help!

Nurses General Nursing

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Hi! I am a registered nurse currently working in a NICU in Arkansas. My husband and I are moving to Seattle, Wa in August and finishing BSN school in July. I have over $60,000 in student loans and am trying desperately to find a program that offers loan repayment. I have looked into the HRSA nurse corps repayment as an option, but have been told that since the funding has been cut that they were only able to award like three people last year out of thousands of applicants. My husband thinks at this point I should join the army (lol) and work out a deal with them which I am almost considering! I am planning to do the 10 year government loan forgiveness program, but even doing that my payment will still be $800. I don't see how we can afford to start a family with payments so high. Any ideas for loan repayment plans or contracts at hospitals in the Seattle area or programs in general are appreciated! Thanks.

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Specializes in ICU.

Most of the loan forgiveness stuff I'm aware of required signing on before you went into the nursing program. I know some friends who had their debt greatly reduced by going to nursing school with a scholarship contingent upon working in high-needs areas for x number of years after graduation. I don't really know what exists for people who wait until after they graduate to look for those kinds of programs. Best of luck to you!

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Since the Archbishop (the sainted Ray Hunthausen) died, I think a lot of prayers are going unanswered in Seattle. And seriously, I think that's all you've got. Looking at it from some hospital's point of view, why would I hire you and pay off thousands and thousands of dollars for your loans when there's no shortage of potential hirees who are just glad as hell to have a job? There is a public health hospital there, and a big county hospital, a university medical center, and a number of affiliated and private hospitals, but I would be astonished if any of them would welcome you on that basis.

Didn't you figure this out when you started?

Waaall, as my sweet old grandmother used to say, "Some of us are put on this earth to be examples to others, one way or another."

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Specializes in Hospice, corrections, psychiatry, rehab, LTC.

In all honesty, I don't see you finding any place that is going to take student loan debt off your shoulders. As GrnTea eloquently put it, a prospective employer has no incentive to do so since you don't have any qualifications above and beyond those who are willing to walk through the door and just begin work.

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Haha! Wow, I am surprised at the rude tone of a couple of these comments. I looked into those kinds of programs before starting RN school and unfortunately they would not have worked out for me. It's not that I am unwilling to "walk through the door and just begin work" but it would be nice if an employer agreed to pay off X amount of loans in exchange for my signing a contract to stay at their rural hospital for X amount of years. Thanks.

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Specializes in Hospice, corrections, psychiatry, rehab, LTC.

If you consider someone being frankly honest with you as being rude, then I don't know what to tell you. You might get a retention bonus or a signing bonus to work in a rural hospital, but I can pretty much guarantee that it won't be anywhere in the neighborhood of $60K. Nobody is going to agree to pay off your loans. In more than 20 years in the profession I have never seen an offer like that for new grad RNs anywhere.

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..I'm not a new grad RN. And even taking 10K off would be a help. I'll just keep looking and see what I can find.

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Specializes in LTC, med/surg, hospice.

I rarely see sign-on bonuses these days. Hospitals barely want to do tuition reimbursement for employees they already have. Good luck in your search.. that's a significant amount of loans

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The most you'll get is a sign on bonus. If you have acute care experience or specialty, you can get a bonus from a hospital offering it for anywhere from $3000-$10,000. I was looking at places with the bonuses and often these are places that a lot people don't want to work. But if you guys find anywhere that will give you loan forgiveness, let me know. I have $40k that needs to be forgiven.

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Specializes in Med/Surg, Ortho, ASC.
Haha! Wow, I am surprised at the rude tone of a couple of these comments. I looked into those kinds of programs before starting RN school and unfortunately they would not have worked out for me. It's not that I am unwilling to "walk through the door and just begin work" but it would be nice if an employer agreed to pay off X amount of loans in exchange for my signing a contract to stay at their rural hospital for X amount of years. Thanks.

I can't see a single rude tone. I see/hear the voices of experience, which is (I believe) what you asked for. Rude would be hysterical laughter at the prospect of any facility in the current state of 100+ applicants for any nursing position being willing to pay off student loans.

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Haha! Wow, I am surprised at the rude tone of a couple of these comments. I looked into those kinds of programs before starting RN school and unfortunately they would not have worked out for me. It's not that I am unwilling to "walk through the door and just begin work" but it would be nice if an employer agreed to pay off X amount of loans in exchange for my signing a contract to stay at their rural hospital for X amount of years. Thanks.

Considering 99% of the nursing workforce is perfectly willing to "walk through the door and just begin to work", you may need to rethink your tactics.

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Specializes in PACU.

Honestly, wait for the next nursing shortage when they start offering ridiculous sign-on bonuses in maybe 15-20 years.

What you're looking for is going the way of the dodo, but I wish you the best of luck.

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