Student loans can become very overwhelming after graduation. Students who studied nursing have a way to relieve some of the burden of student loans. There is a program called the Nursing Education Loan Repayment also known as the NELRP.
This program will relieve 60% of your student loan debt if you meet the required qualifications. To receive the repayment as a nurse you must commit to providing two years of nursing service in a critically low facility. The purpose of this program is to assist in recruiting nurses and retaining employment.
The main requirements you have to reach to be eligible for the loan forgiveness are you must have a baccalaureate or an associate degree in nursing or some similar accredited degree. You must have outstanding qualifying loans obtained for your nursing education. Another requirement is you must have completed a nursing program. You must be employed at a critical low storage facility. Your RN license must be current for the sate which working. You must be an U.S Citizen or an U.S national lawful permanent resident. The last requirement is that you must of submitted a the NELRP application and signed the government contact.
The important things to remember before filling out the NELRP application that it is a government contract and can have serious consequence if broken.
Most people will find that they are eligible for federal student aid – but just to be sure, here are the requirements (according to the FAFSA website):
- Be a U.S. citizen (or an eligible non-citizen)
- Have a valid Social Security Number
- Register with Selective Service
- Possess a high school diploma or GED
- Be currently enrolled (or accepted) as a student working towards a degree in an eligible school
- Not owe a refund on a federal grant or be in default on a student loan
- Have qualifying financial need
So, to wrap up, to be eligible for Federal Student Aid, you need to be a student who has graduated from high school, (or received a GED), be accepted/enrolled in an accredited and eligible program in an eligible school, have all their current federal loans up to date and in order, and need the money (according to their standards). Good Luck!
If you don’t know what your FAFSA pin is, you should – your fafsa pin number is the key to re-applying each year for Federal aid online, as well as giving you a complete history of your records with the U.S. Department of education online. Not only that, but your pin number often is used in lieu of your signature when agreeing to terms and agreements relating to your student loans online. In fact, the DOE actually devotes an entire website just to the FAFSA pin. The point is this little number is important – so get yours here.
Applying for aid with the Federal Application For Student Aid is actually pretty simple, especially if you do it online. The official FAFSA website outlines the main steps for doing so – Ill paraphrase them here:
- Complete the FAFSA online (it can be found by clicking here) and provide the signatures required.
- Wait for the FAFSA to be processed. Once it is, you’ll receive a Student Aid Report. On the FAFSA website, they’ll refer to this as your SAR.
- Check out the Student Aid Report for accuracy. This is important – clerical errors happen all the time, and can be a huge hassle to clean up later on!
- Keep a printed copy of your Student Aid Report – Again, this is important. Keeping good records of everything related to your student loans will save you time and effort later on.
- An Expected Family Contribution should be printed at the top right of the page. (What is EFC?) Your school will use this number to award your financial aid.
Just like that, you’re done! Find more information on the official FAFSA website.
Recently I talked a bit about EFC – expected family contribution. While this is most relevant to finding out how much support you’ll receive from the government, theres another more practical application! An acquaintance who will graduate from high school next year asked me how much money I thought it would cost his parents for him to go to college – they aren’t exactly well off, and he knows that going to college will be a burden on them.
At first, I tried to sort through all of the potential expenses with him to come up with an estimate. Before long, it had become apparent that I wasn’t going to be much help – but it dawned on me – this is exactly what EFC calculators do! So, parents, if you want an estimate of how big your piggy bank needs to be before you send little Johnny off to school, have a look at an EFC calculator (in case you’re too lazy to find one yourself, I’ve got one for you – just click here).
Keep in mind that this is an estimate, and a rough one at best – use it as a starting point, and draw your own conclusions.
Student Loan Forgiveness | admin, 30 Sep 07 | 
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