Iowa Registered Nurse And Nurse Education Loan Forgiveness Program
To Be Eligible …
The State of Iowa offers loan repayment assistance to registered nurses employed in Iowa and nurse educators teaching at eligible Iowa colleges and universities.
- Be a nurse educator who hold master’s, specialist’s, or doctorate degrees and is employed by eligible Iowa colleges or universities; or a registered nurse who is employed as a nurse in Iowa.
- Have been first employed as nurse educator or registered nurse in Iowa no earlier than July 1, 2007.
- Owe a balance on an eligible federal student loan (Stafford or Consolidation). If outstanding loan balance is less than the maximum forgiveness award, the amount awarded will not exceed the applicant’s outstanding principal and interest.
- Be employed at least quarter time with a minimum of 520 hours over the course of the year.
- Be in good standing with all federal student loan accounts. Borrowers interested in postponing repayment on federal student loans should contact their current loan holder.
- The maximum annual award is 20% of the recipient’s total eligible federal student loan balance, including principal and interest
- The maximum award cannot exceed the average resident tuition rate established for students attending Iowa’s Regent Universities for the first year following the recipient’s graduation
- For 2016 graduates, the maximum award is $6,858
Nurse educator applicants will be given priority. If funding does not permit all applicants to receive repayment benefits, criteria for selection of recipients will be prioritized as follows: first for nurse educators, then for registered nurses.
- Applicant renewal status
- Full-time employment
- Iowa residency status (Priority ranking only: you do not need to be an Iowa resident to apply)
- Date of application
Loans That Qualify
- Stafford loans
- Grad PLUS loans
- Perkins loans
- Consolidation loans