Minnesota Nurse Loan Forgiveness Program
The purpose of Minnesota’s Loan Forgiveness program is to recruit and retain health care professionals to needed areas and facilities within Minnesota. Loan forgiveness is an important benefit for healthcare professionals as well as health care facilities and communities experiencing a shortage of access to primary health care services.
The Nurse Loan Forgiveness Program provides funds for repayment of qualifying educational loans for licensed practical or registered nurses. Applicants are responsible for securing their own educational loans. Qualified loans include government, commercial and foundation loans for actual costs paid for tuition, reasonable education and living expenses related to the graduate or undergraduate education of a healthcare professional.
Minimum service obligation: Serve 2 years minimum with option to extend 2 additional years in nursing homes; housing with services establishment; home care; Intermediate Care Facility (ICF) for persons with developmental disabilities; or hospital if owns/operates a licensed nursing home (must work 50% time in nursing home)
Annual repayment amount: $5,000
Loans That Qualify
- Stafford loans
- Grad PLUS loans
- Consolidation loans
- Perkins loans
- Health Professions Student Loans (HPSL)
- Private student loans