Iowa Registered Nurse & Nurse Educator Loan Forgiveness Program

The State of Iowa offers loan repayment assistance to registered nurses employed in Iowa and nurse educators teaching at eligible Iowa colleges and universities.

Eligibility Criteria

Applicants must:

  • Be a nurse educator who hold master's, specialist's, or doctorate degrees and is employed by eligible Iowa colleges or universities; or a registered nurse who is employed as a nurse in Iowa.
  • Have been first employed as nurse educator or registered nurse in Iowa no earlier than July 1, 2007.
  • Owe a balance on an eligible federal student loan (Stafford or Consolidation). If outstanding loan balance is less than the maximum forgiveness award, the amount awarded will not exceed the applicant's outstanding principal and interest.
  • Be employed at least quarter time with a minimum of 520 hours over the course of the year.
  • Be in good standing with all federal student loan accounts. Borrowers interested in postponing repayment on federal student loans should contact their current loan holder.

Award Amount

  • The maximum annual award is 20% of the recipient's total eligible federal student loan balance, including principal and interest
  • The maximum award cannot exceed the average resident tuition rate established for students attending Iowa's Regent Universities for the first year following the recipient's graduation
  • For 2016 graduates, the maximum award is $6,858

Selection Criteria

Nurse educator applicants will be given priority. If funding does not permit all applicants to receive repayment benefits, criteria for selection of recipients will be prioritized as follows: first for nurse educators, then for registered nurses.

  • Applicant renewal status
  • Full-time employment
  • Iowa residency status (Priority ranking only: you do not need to be an Iowa resident to apply)
  • Date of application

How to Apply

Recipients must reapply annually** by completing the Loan Forgiveness portion of the Iowa Financial Aid Application. The application will be available online beginning January 1 and applications must be submitted by March 31 to guarantee consideration.

  • Complete the online Iowa Financial Aid Application
  • Iowa College Aid will verify an applicant's qualified nursing service by contacting each applicant's employer. The applicant's nursing service must be verified in order for the applicant to receive an award.

**Applicants may receive forgiveness for no more than five consecutive years. Recipients who fail to submit a completed program application before the established deadline annually, will not be considered for any future awards.


 

 

Printed from the Iowa College Student Aid Commission website on December 17, 2017 at 7:34am.