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Iowa Student Loan Nursing Education Loan Forgiveness Program Eligibility Requirements
| Applicant Requirements |
|---|
| Nursing Educators | Must be enrolled in a post-baccalaureate nursing educator program (including non-nursing doctoral programs that qualify the individual to teach nursing) at an accredited Iowa college or university. |
| Registered Nurses | Must be enrolled in a registered nursing program at an accredited Iowa college or university, complete such program by December 2009, and have a clear interest in working as a Registered Nurse in a Long-Term Care Facility in Iowa. |
| Recipient Requirements |
|---|
- Must graduate and pass the required National Council Licensing Examination for Registered Nurses.
- Must be employed full time, as defined by the employer, as a nursing educator* in Iowa, or registered nurse providing direct patient care in Iowa within 12 months of graduation.
- Must have received a Federal Family Education Stafford Loan or Federal Consolidation Loan (including Federal Direct Loans) that is owned or serviced by Iowa Student Loan, a Partnership (student) Loan or other private (student) loan owned or serviced by Iowa Student Loan.
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Loans Eligible for Forgiveness
- Federal Family Education Subsidized and Unsubsidized Stafford Loans that is owned or serviced by Iowa Student Loan.
- Partnership (student) Loan or other private (student) loan owned or serviced by Iowa Student Loan.
- Federal Consolidation Loans (including Federal Direct Loans) consolidated with Iowa Student Loan.
Loan Forgiveness Schedule
| Years of Employment | Forgiveness % |
Nursing Educator | RN Long-Term Care Facilities |
|---|
| 1 | 15% | $3,000 |
$1,500 |
| 2 | 25% | $5,000 |
$2,500 |
| 3 | 30% | $6,000 |
$3,000 |
| 4 | 30% | $6,000 |
$3,000 |
| Total | 100% | $20,000 |
$10,000 |
Eligible Loan Forgiveness Employment Areas in Iowa
In order to qualify for the program benefits, approved applicants must teach full-time as nursing educators* or work as RNs in long-term care facilities in Iowa.
*Part-time employment may qualify for partial year forgiveness (nurse educators only).
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