Loan forgiveness options? Help!

Monkey Nurse, ASN, RN · Apr 14, 2015

Loan Repayment | Career Opportunities and Loan Repayment Program | Indian Health Service (IHS)

"The LRP awards repayment of up to $40,000 for qualified health profession education loans to clinicians who commit to practice in health facilities serving American Indian and Alaska Native communities for an initial two-year commitment." (with opportunity to renew year by year after)

Jobs | Indian Health Service

Washington state isn't really a "high needs" are so getting an award for there is less likely than many other areas. I'm in South Dakota!

empatheticRN · Apr 14, 2015

I suggest to you, and all to look into Indian Health Services. You have to be willing to make some sacrifices and select a sight that is in need, but there are plenty. 20,000+$ a year in student loan forgiveness :) In two years or so my student loans and interest will be paid off. In 3 years I'll be a fully vested federal employee.
Check it out and be willing to move to a location that needs you. Its a small sacrifice for the kind of burden it will relieve. If you can sacrifice paying for years to go to college, getting paid for a sacrifice is nothing at all.
IHS Loan Repayment Program :) google it .... an opportunity for several health careers to take advantage of and give back to a very very needy population

Thanks for the info, I'll definitely check it out.

bluegeegoo2, LPN · Apr 14, 2015

My brother-in-law is a P.A. and managed to have a fair amount of his loans forgiven for working in a prison for 3 yrs. I have read that working for rural/under-served and non-profit institutions can also qualify you for some amount of loan forgiveness. I haven't finished my coffee yet otherwise I'd look up links for you. :sleep:

OCNRN63, RN · Apr 14, 2015

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.

Unfortunately, most of those programs no longer exist. With all the belt-tightening going on in hospitals, the funds just aren't there for tuition forgiveness.

Best wishes to you. I hope you find something that works for you.

nurseprnRN, BSN, RN · Apr 14, 2015

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.

Sure would, eh?

Some people are surprised at tone, some are surprised at naivete, some are surprised at entitlement. Life is full of surprises. Good luck to you.

mudd68 · Apr 14, 2015

I am currently working toward the 10 year government loan forgiveness program and am on the income based repayment plan. I do believe you have to have your loans serviced by FedLoan to qualify and make 120 on time payments (10 years obviously). Considering that I was planning on paying back loans for 20 + years (That's on 36,000)...I am more than happy to possibly have mine forgiven after 10 years. This is the best I could find personally. I've been with my company as an RN for 7 years now - it goes faster than you'd think! Good Luck.

JenTheSchoolRN, BSN, RN · Apr 14, 2015

Are you and your husband filing your taxes jointly? If so, they are considering both of your incomes when it comes to an income based repayment plan. That drives your monthly payment up considerably, especially if he is carrying no student loan debt himself.

lovinglife2015 · Apr 14, 2015

Ouch, sorry to hear about your situation, that is a heck of a payment.
Serious budgeting and creative payments can go a long way with getting that loan paid off.
With that said the student loan situation in this country is out of control and is about to burst.
Student loan debt is now the 2nd largest personal debt - about $1.2 trillion in federal student loans are owed - this doesn't include people with credit card student loan debt. Fact is, this is not sustainable and about 7.5 million people are 90 days or greater past due....thats out of 43 million people. The gov't is seriously screwed as more an more people are now just refusing to pay them. A massive shift is coming in this area so hold on, I have a feeling help is on the way. Young people like yourself are suppose to revitalize the country yet the majority of you are in shackles and can't put into the economy b/c your so financial drained.
Take a look at this - this is just one of them
Investing in You: Group urges student loan 'debt strike'
Just be thankful you got a degree in something useful from a good school - so many people are realizing the schools and degrees they have are worthless and are suing the schools and winning.

No one is forcing anyone to take out loans. Many schools now require the potential borrower to attend a loan responsibility class before borrowing, so that one is aware of the terms. For my 2nd degree(ADN), I chose to work and attend school part-time because I didn't want loan debt. I know quite a few students that choose not to work and instead live off of student loan refunds by borrowing thousands of dollars more than their tuition costs each semester. That is their choice, but don't get mad when it's time to repay the piper.

**LibraSunCNM, BSN, MSN, CNM** · Apr 14, 2015

Ah yes, that lovely Southern thing of never saying what you actually mean. That culture is actually more passive-aggressive than polite.
Give me the frank, blunt honesty of the Southwest any day over the sweet-tea-laced sunshine blown up the rear.
OP, look into the Indian Health Service. I know there are Indian reservations in Washington, and one of my professors claims she got help with her loans by working for them.
The military is not merely a jobs/loan repayment program. You will be trained to kill people and break things, and expected to go do that when ordered, no matter when and where it might occur. As a former military wife who had to hold the family together through two overseas tours (both in declared combat zones where we couldn't accompany him) and got moved domestically 6 times in 6 years, I urge you not to take that option lightly.
Seattle is extremely expensive compared to Arkansas. Is the move necessary?
I also agree with the poster who suggested you buckle down and live frugally on your husband's salary only for a year or so and dedicate yours entirely to loan payment. If you can do that, you should, and with no kids it's easier to do. You could also choose to pick up extra shifts and earn more to pay off the loans faster. You're getting good suggestions.

Thank you so much for this. I can't stand when Northerners get bashed as "rude" for being direct. I much prefer straightforwardness to fakeness, which is the culture I saw ingrained as I grew up in the South. It's not rude to be honest or just state your feelings!

OP, I wish you the best, but as others have stated, it's time to face facts and accept that getting your loans repaid by a hospital is unlikely. The IHS is an excellent avenue to look into.

scaredsilly, BSN, RN · Apr 14, 2015

Not sure about Ark, but in Colo HCA hospitals will give you $2k a year - you have to re-sign a contract every year and if you leave before the years is out, you have to give back the 2k

WookieeRN, BSN, MSN, RN · Apr 14, 2015

Thank you so much for this. I can't stand when Northerners get bashed as "rude" for being direct. I much prefer straightforwardness to fakeness, which is the culture I saw ingrained as I grew up in the South. It's not rude to be honest or just state your feelings!
OP, I wish you the best, but as others have stated, it's time to face facts and accept that getting your loans repaid by a hospital is unlikely. The IHS is an excellent avenue to look into.

I agree 100%. I don't see rudeness in any of these posts. Just direct and unsugarcoated information. I don't see it as a north/south thing, but more of a thick skinned versus thin skinned.

That Guy, BSN, RN, EMT-B · Apr 14, 2015

Not sure about Ark, but in Colo HCA hospitals will give you $2k a year - you have to re-sign a contract every year and if you leave before the years is out, you have to give back the 2k

And also take the lowest pay in the state for RNs. But if it helps, it helps.