Your experience with the loan forgiveness program?

winter_green · Jul 25, 2011

Yes! There are a few options that I know of... these are ones I'm currently doing...

1. HRSA http://www.hrsa.gov/loanscholarships/scholarships/nursing/

I applied to this once while still in nursing school but didn't get accepted. I missed the deadline for this year. Sad because the hospital I work for meets the criteria but fortunately... there are other options as well.

2. If you have PERKINS LOANS.... you can be forgiven and qualify for PUBLIC SERVICE FORGIVENESS because you work as an RN... ask your school finanical aid advisor for application. For this, you must work full time for 5 years and complete annual employment verification paperwork. By end of 5 years, all your PERKINS LOANS will be forgiven.

3. I currently have DIRECT LOANS for my other loans and as of now, I'm doing the constigent income base repayment program. In 10 years (120 payments) whatever balance I have left will be forgiven. So far for this year, my monthly payment is $0. Though I am making $0 payment, each month is still counting towards the 120 payments. I don't know if my monthly payment will change next year but my monthly payment will depends on my income (I did not work as an RN last year)... and I work full time RN right now as of this whole year.

I hope this helps... ask around. Some hospital even do school loan forgiveness as well if you are a hospital employee.

layleebug · Aug 6, 2011

Thanks so much for the feedback, were you able to apply for the HRSA during nursing school? I had asked them and they said that I had to wait until I graduates/licensed (not sure which). Their deadline is around May and I graduate in May.. so I guess I would have to wait until the following year to apply?