Nursing Scholarships and Loans
If you are looking for a vocation to go into that pays well but doesn’t cost a fortune in college expenses, take a look at nursing. Due to the growing nursing shortage in America, many hospitals and even the government are providing scholarships, loans and loan programs for those interested in studying nursing. How does it work?
With the government, financial aid is provided in the form of long-term, low-interest rate loans to full-time and half-time financially needy students pursuing a course of study leading to a diploma, associate, baccalaureate or graduate degree in nursing.
Participating schools are responsible for selecting loan recipients and for determining the amount of assistance a student requires.
To be eligible, the school you apply to must participate in the Nursing Student Loan Program and you must be a citizen, national, or a lawful permanent resident of the United States or the District of Columbia, the Commonwealths of Puerto Rico or the Marianas Islands, the Virgin Islands, Guam, the American Samoa, the Trust Territory of the Pacific Islands, the Republic of Palau, the Republic of the Marshall Islands and the Federated State of Micronesia.
There is also a great government program called the Nursing Education Loan Repayment (NELRP).
NELRP is a competitive program that repays 60 percent of the qualifying loan balance of registered nurses selected for funding in exchange for 2 years of service at a critical shortage facility. Participants may be eligible to work a third year and receive an additional 25 percent of the qualifying loan balance.
Authorized by Section 846 of the Public Health Service Act, “the purpose of the NELRP is to assist in the recruitment and retention of professional nurses dedicated to providing health care to underserved populations.”
If you are selected to participate in the NELRP, you enter into a contract with the U.S. Government. Of course the flip side is you owe the government a few years of your life and there are some serious consequences for breaching this contract.
To be eligible to apply for this program you must:
• Have received a baccalaureate or associate degree in nursing (or an equivalent degree), a diploma in nursing or a graduate degree in nursing from an accredited school of nursing in a State
• Have outstanding qualifying loans obtained for nursing education leading to a degree or diploma in nursing as specified above
• Have completed the nursing education program for which the loan balance applies
• Are a U.S. citizen, U.S. national or a lawful permanent resident of the U.S.
• Are employed full time (32 hours or more per week) at a critical shortage facility
• Are employed at a non-profit facility (effective October 1, 2007)
• Have a current permanent unrestricted license as an RN in the State in which you intends to practice or be authorized to practice in that State pursuant to the Nurse Licensure Compact (not a U.S. Government Web site) and
• Have submitted a complete NELRP Application, a signed NELRP Contract, supplemental forms and all required documentation by the NELRP application deadline
You are not eligible to apply if you:
• Have a judgment lien against your property for a debt owed to the United States. Such individual is precluded from receiving Federal funds (including NELRP funds), until the judgment lien has been paid in full
• Have a service obligation (see Application Guidance > Definition of Terms) that will not be satisfied by the NELRP application deadline
• Have breached an obligation for professional service to a Federal, State, or local government entity
• Are currently in default of a Federal debt (e.g., student loans, delinquent taxes, etc.)
• Work for a nurse staffing agency or travel nurse agency
• Work on an "as needed" basis, this usually includes PRNs, Pool Nurses, or a person who is not scheduled in a full-time capacity by NELRP definition
• Have a temporary or inactive RN license
• Are a licensed practical/vocational nurse
• Are a nursing faculty member employed full-time in an educational institution or
• Are self-employed
With nursing not only is the pay decent but there are also enough jobs that it is most likely won’t have to worry about finding work, wherever you live. And without a loan to repay, you get to actually keep your earnings.
Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of private student loans and information on student loans and consolidation. For more information, please visit http://www.student-loans.net
With the government, financial aid is provided in the form of long-term, low-interest rate loans to full-time and half-time financially needy students pursuing a course of study leading to a diploma, associate, baccalaureate or graduate degree in nursing.
Participating schools are responsible for selecting loan recipients and for determining the amount of assistance a student requires.
To be eligible, the school you apply to must participate in the Nursing Student Loan Program and you must be a citizen, national, or a lawful permanent resident of the United States or the District of Columbia, the Commonwealths of Puerto Rico or the Marianas Islands, the Virgin Islands, Guam, the American Samoa, the Trust Territory of the Pacific Islands, the Republic of Palau, the Republic of the Marshall Islands and the Federated State of Micronesia.
There is also a great government program called the Nursing Education Loan Repayment (NELRP).
NELRP is a competitive program that repays 60 percent of the qualifying loan balance of registered nurses selected for funding in exchange for 2 years of service at a critical shortage facility. Participants may be eligible to work a third year and receive an additional 25 percent of the qualifying loan balance.
Authorized by Section 846 of the Public Health Service Act, “the purpose of the NELRP is to assist in the recruitment and retention of professional nurses dedicated to providing health care to underserved populations.”
If you are selected to participate in the NELRP, you enter into a contract with the U.S. Government. Of course the flip side is you owe the government a few years of your life and there are some serious consequences for breaching this contract.
To be eligible to apply for this program you must:
• Have received a baccalaureate or associate degree in nursing (or an equivalent degree), a diploma in nursing or a graduate degree in nursing from an accredited school of nursing in a State
• Have outstanding qualifying loans obtained for nursing education leading to a degree or diploma in nursing as specified above
• Have completed the nursing education program for which the loan balance applies
• Are a U.S. citizen, U.S. national or a lawful permanent resident of the U.S.
• Are employed full time (32 hours or more per week) at a critical shortage facility
• Are employed at a non-profit facility (effective October 1, 2007)
• Have a current permanent unrestricted license as an RN in the State in which you intends to practice or be authorized to practice in that State pursuant to the Nurse Licensure Compact (not a U.S. Government Web site) and
• Have submitted a complete NELRP Application, a signed NELRP Contract, supplemental forms and all required documentation by the NELRP application deadline
You are not eligible to apply if you:
• Have a judgment lien against your property for a debt owed to the United States. Such individual is precluded from receiving Federal funds (including NELRP funds), until the judgment lien has been paid in full
• Have a service obligation (see Application Guidance > Definition of Terms) that will not be satisfied by the NELRP application deadline
• Have breached an obligation for professional service to a Federal, State, or local government entity
• Are currently in default of a Federal debt (e.g., student loans, delinquent taxes, etc.)
• Work for a nurse staffing agency or travel nurse agency
• Work on an "as needed" basis, this usually includes PRNs, Pool Nurses, or a person who is not scheduled in a full-time capacity by NELRP definition
• Have a temporary or inactive RN license
• Are a licensed practical/vocational nurse
• Are a nursing faculty member employed full-time in an educational institution or
• Are self-employed
With nursing not only is the pay decent but there are also enough jobs that it is most likely won’t have to worry about finding work, wherever you live. And without a loan to repay, you get to actually keep your earnings.
Evelyn Saunders, a retired teacher, is the editor for student-loans.net, a provider of private student loans and information on student loans and consolidation. For more information, please visit http://www.student-loans.net
Labels: nursing grant, nursing loan, nursing scholarship, study nursing
posted by Student Loans at
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