Loan Forgiveness Programs
Public Service Loan Forgiveness (PSLF) Program
The Public Service Loan Forgiveness Program was created to encourage individuals to enter and continue to work full-time in public service jobs. Under this program, you may qualify for forgiveness of the remaining balance due on your eligible federal student loans after you have made 120 payments on loans under certain repayment plans while employed full time by certain public service employers.
Only non-defaulted loans made under the William D. Ford Direct Loan Program are eligible for loan forgiveness; however, loans borrowed through other federal student loan programs may qualify if they are consolidated into a Direct Consolidation Loan.
The Direct Loan Program includes the following types of loans:
- Federal Direct Loans
- Federal Direct PLUS Loans - for parents and graduate/professional students
- Federal Direct Consolidation Loans
Nursing Loan Forgiveness Programs
Nursing Education Loan Repayment Program (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.
- 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 area 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
- Have a current permanent unrestricted license as an RN in the State in which you intend to practice or be authorized to practice in that State pursuant to the Nurse Licensure Compact
- Have submitted a complete NELRP Application, a signed NELRP Contract, supplemental forms and all required documentation by the NELRP application deadline.
Nursing Student Loan Forgiveness Program (NSLFP)
For those who qualify and are awarded, a portion of the student loans used to obtain a nursing degree can be cancelled if you work at an approved site in Florida.
- Have graduated from nursing school;
- Be currently licensed or certified by the Florida Board of Nursing as a Licensed Practical Nurse (LPN), a Registered Nurse (RN), or an Advanced Registered Nurse Practitioner (ARNP);
- Have outstanding current student loan(s) incurred toward a nursing education;
- Not be in default status, or have been in default status on the nursing student loan(s);
- Not have participated in the Nursing Scholarship Program; and,
- Be employed full-time, as a nurse, at a designated/eligible site or facility in Florida.
- Maintain full-time employment for each consecutive employment year, at the site or facility you are employed at when you are enrolled into the program. Changing employer or changing to part-time employment, while enrolled in the program, nullifies the agreement. You may re-apply after becoming employed full-time at another eligible site or upon regaining full-time employment status.
Applications are typically accepted once per quarter, as funds are available:
November 1 – December 1
February 1 – March 1
May 1 – June 1
August 1 – September 1
Federal Teacher Loan Forgiveness Programs
Teachers who have loans that were disbursed after October 1, 1998, may qualify to have up to $17,500 of those loans forgiven. You must not have had an outstanding loan balance on a FFELP or Direct Loan prior to October 1, 1998, in order to be eligible. See the Department of Education’s website for more criteria.