Nursing Education Loan Repayment Program
In response to the growing shortage of nurses, the United States government created NELRP, the Nursing Education Loan Repayment Program. Basically, the government will repay sixty percent of a registered nurse's qualifying loan balance. In return, the nurses repay that gesture by serving at least two years in an area where there are critical shortages of nurses.
The 2011 deadline is February 8th. There are a few things you should know to see if you will qualify before applying. First of all, by the next application deadline, you should have received your two-year (Associate's) degree or a Bachelor's degree in nursing. You would also be eligible if you have a comparable nursing degree from an accredited university or school. Other things to be aware of in time for the next deadline include:
There are a few things you should be aware of that might preclude you from qualifying for the NELRP. If you have any liens on your property, you are not eligible until the liens are taken care of. And that makes sense - showing fiscal responsibility. In addition, if you have been negligent in paying any federal debt like taxes or other loans, you cannot apply. Being employed through a staffing nursing agency is not applicable for eligibility. If you only have a temporary RN license or a lapsed license, you cannot participate in the NELRP. Self-employment, fill-in nursing, and only having an LVN degree will also deem you ineligible.
If you do qualify, you do have some say in where you serve your two-year commitment. You can rank from first to last your preference serving in nursing homes, federally designated health centers or migrant health centers, departments of public health, Indian Health Centers, rural clinics or share hospitals. In addition, you might be able to sign on for a third year and receive another twenty-five percent of your loan balance.
For more in the Nursing Education Loan Repayment Program, visit http://bhpr.hrsa.gov/nursing/loanrepay.htm
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