Nursing Education Loan Repayment Program

Managing AgencyU.S. Department of Health and Human Serviceshttp://www.hhs.gov/ 
Program Description
To assist in the recruitment and retention of professional nurses dedicated to providing health care to underserved populations, the Nursing Education Loan Repayment Program offers registered nurses substantial assistance to repay educational loans in exchange for service in eligible facilities located in areas experiencing a shortage of nurses. For two years of service, the Nursing Education Loan Repayment Program will pay 60 percent of the participant's total qualifying loan balance; for three years of service, the Nursing Education Loan Repayment Program will pay 85 percent of the participant's total qualifying loan balance. A participant who agrees to serve two years may be eligible to amend the Nursing Education Loan Repayment Program contract and work a third year at an eligible health facility, for which the Nursing Education Loan Repayment Program will pay an additional 25 percent of the qualifying loan balance.
General Program Requirements
In order to qualify for this benefit program, you must be a US national, citizen or dual citizen qualified/certified/licensed as a nurse or nurse anesthetist, who works or worked as a health care professional, is currently employed (full-time) and has student loan debt.
Loan Terms
Not applicable
Your Next Steps
The following information will lead you to the next steps to apply for this benefit.
Application Process
For more information, see the Program Contact Information below.
Program Contact Information
For more information, contact the program office directly at their toll-free number:866-813-3753 Or by mailing to the following address: Applicants from California, Colorado, Delaware, Georgia, Iowa, Idaho, Indiana, Massachusetts, Minnesota, Missouri, Mississippi, Montana, North Carolina, Nebraska, Rhode Island, South Dakota, Utah, and Wisconsin should contact:lbennet@hrsa.gov Applicants from Alabama, Arkansas, Arizona, Connecticut, District of Columbia, Kentucky, Maine, New Hampshire, New Jersey, New Mexico, Nevada, Ohio, Oklahoma, Oregon, Virgin Islands, Vermont, Washington, and Wyoming should contact:jbrown1@hrsa.gov Applicants from Alaska, American Samoa, Florida, Hawaii, Illinois, Kansas, Louisiana, Maryland, Michigan, North Dakota, New York, Pennsylvania, Puerto Rico, South Carolina, Tennessee, Texas, Virginia, and West Virginia should contact:ringram@hrsa.gov

Stafford Loans for Students

Managing AgencyU.S. Department of Educationhttp://www.ed.gov 
Program Description
Direct Stafford Loans, from the William D. Ford Federal Direct Loan (Direct Loan) Program, are low-interest loans for eligible students to help cover the cost of higher education at a four-year college or university, community college, or trade, career, or technical school. Eligible students borrow directly from the U.S. Department of Education (the Department) at participating schools.

Stafford Loans are available for undergraduate and graduate students and come from Direct Stafford Loans made by the U.S. Department of Education. You will repay a Federal Direct Stafford Loan to the U.S. Department of Education.

Direct Stafford Loans include the following types of loans:

A subsidized loan is awarded on the basis of financial need, as determined by the information you submit on the Free Application for Federal Student Aid (FAFSA).  If you are eligible for a subsidized Stafford loan you will not be charged interest while you are in school on an at least half-time basis, during a grace period of up to six months after you are no longer enrolled on at least a "half-time" basis, or during certain defined deferment periods.  The Federal government pays (subsidizes) the interest during these periods.

An unsubsidized loan is not awarded on the basis of need.  But you still must apply using the FAFSA.  For unsubsidized loans, you will be charged interest from the time the loan is disbursed until it is paid off in full.  However, you can choose to defer payment of interest while you are in school and during any grace or deferment period.  However, if you allow interest to accrue (accumulate) during these periods, it will be capitalized.  This means that interest will be added to the principal amount of your loan, and additional interest will be based on that higher amount.

General Program Requirements
To qualify for this program, you must be enrolled in a postsecondary educational program leading to a postsecondary degree or certificate. There are other requirements.  For more information, read The Student Guide online at http://studentaid.ed.gov/students/publications/student_guide/index.html.
Loan Terms
Maximum Loan Amount: up to $20,500 annually (depending on your grade level, your status as a dependent or independent student, your status as an undergraduate or a graduate student, and your total cost of attendance).

Interest Rate: The interest rate is variable (adjusted annually on July 1st) but does not exceed 8.25 percent. You'll be notified any time the variable rate changes. For the current Stafford Loan interest rate, go to http://studentaid.ed.gov/PORTALSWebApp/students/english/studentloans.jsp?tab=funding.

Maximum Loan Length: 30 years, depending on amount borrowed and repayment plan chosen. There are a number of repayment plans offered through the Direct programs. Read the Repaying Your Student Loan online at http://www.studentaid.ed.gov/students/publications/repaying_loans/index.html for more information about repayment.

Frequency of Payments: monthly or quarterly. After you graduate, leave school, or drop below half-time enrollment, you have a six-month grace period before you begin repayment.

Prepayment Penalties: none

Fees: You'll pay a fee of up to four percent of the loan, deducted proportionately from each loan disbursement. Because of this deduction, you'll receive slightly less than the amount you're borrowing.

Your Next Steps
The following information will lead you to the next steps to apply for this benefit.
Application Process
To apply for Direct Stafford Loans, fill out the Free Application for Federal Student Aid (FAFSA). You can apply online using FAFSA on the Web at www.fafsa.ed.gov/ (the faster and easier way), or you can get a paper FAFSA from your high school, local library, postsecondary school, or by calling the Federal Student Aid Information Center at 1-800-4-FED-AID (1-800-433-3243). TTY users for the hearing impaired can call 1-847-688-2567.

If you applied for Federal student aid for the previous school year, you can probably file a Renewal FAFSA for the next year. By using a Renewal FAFSA, you will only have to update any information that has changed and fill in a few new answers.

Program Contact Information
To determine whether you are eligible to receive assistance through this program, you must first complete a Free Application for Federal Student Aid (FAFSA). Schools use this information from the FAFSA to determine your eligibility for most Federal student aid programs and for many state, institutional, and private aid programs.

You may complete the FAFSA online, through this website:
http://www.fafsa.ed.gov

Free Application for Federal Student Aid (FAFSA)

Managing AgencyU.S. Department of Educationhttp://www.ed.gov 
Program Description
The Free Application for Federal Student Aid (FAFSA) is an application used by virtually all two and four-year colleges, universities, and career schools for awarding Federal, state, and college-funded student aid.
General Program Requirements
To be eligible for this benefit, you must meet all of the following requirements:
  • Be a U.S. citizen or eligible non-citizen
  • Have a valid Social Security Number (unless you are from the Republic of the Marshall Islands, the Federated States of Micronesia, or the Republic of Palau)
  • Register with Selective Service if you are a male and 18 to 25 years of age. Go to http://www.sss.gov/ for more information
  • Have a high school diploma or a General Education Development (GED) Certificate or pass an exam approved by the U.S. Department of Education
  • Be enrolled or accepted for enrollment as a regular student working toward a degree or certificate in an eligible program at a school that participates in the federal student aid programs
  • Not have a drug conviction for an offense that occurred while you were receiving Federal student aid (such as grants, loans, or work-study)
  • Other requirements may apply. Contact your school's financial aid office for more information
Loan Terms
Not applicable
Your Next Steps
The following information will lead you to the next steps to apply for this benefit.
Application Process
The Free Application for Federal Student Aid (FAFSA) is the first step in the financial aid process. You use it to apply for Federal student financial aid, such as grants, loans, and work-study. In addition, most states and schools use information from the FAFSA to award non-federal aid. Complete the form online at http://www.fafsa.ed.gov/.
Program Contact Information
For general information about the Federal student aid programs, assistance in completing the FAFSA, and information about FAFSA on the Web, call the Federal Student Aid Information Center (FSAIC) at the following toll-free number:
1-800-433-3243

People who are hearing impaired may call this toll-free number:
1-800-325-0778

TTY users for the hearing impaired can call:
1-800-730-8913

Callers in locations without access to 800 numbers may call this non toll-free number:
319-337-5665