Rural Iowa Advanced RN Practitioner and PA Loan Repayment Program
The Rural Iowa Advanced Registered Nurse Practitioner and Physician Assistant Loan Repayment Program was established to address critical advanced registered nurse and physician assistant shortages in rural Iowa communities. The program provides loan repayment incentives to individuals that practice in specified locations for up to five years. The maximum award for this program is $20,000, which is paid in five increments toward outstanding Federal Subsidized Stafford, Unsubsidized Stafford, Graduate PLUS and Perkins Loan balances at the end of each 12 month employment period. ARN and PA Loan Repayment Fact Sheet
A student is eligible to apply to enter into a program agreement if he or she:
- Attends an eligible Iowa college or university (see below).
- Is enrolled full-time in a graduate level program of study that will qualify the individual for licensure to practice as a nurse practitioner or physician assistant.
- Receives a recommendation from his or her eligible Iowa college or university.
- A limited number of applicants will be recommended to complete the agreement.
A student who meets the above eligibility requirements must sign an agreement in the final year of his or her program of study agreeing to fulfill the following requirements:
- Matriculate in and graduate from an eligible Iowa college or university.
- Become licensed and employed in the practice of nursing or as a physician assistant within nine months of graduation.
- Work for a minimum of five years in an eligible service commitment area.
Service Commitment Area
An eligible service commitment area is:
- An Iowa city with a population less than 26,000 located more than 20 miles from a city with a population of at least 50,000 (see map on second page).
- Service commitment areas must provide a $2,000 matching contribution to a trust fund held by the state of Iowa that will fund future recipient awards.
Upon receipt of an Iowa license and secured employment, loan repayment awards will be paid directly to the student loan lender. Up to $4,000 can be paid annually to eligible student loan balances for up to five years. Federal loans eligible for repayment include all Subsidized Stafford, Unsubsidized Stafford, Graduate PLUS and Perkins Loans. Priority will be given to eligible students who are residents of Iowa. If an applicant signs an agreement but fails to meet the program criteria prior to receiving a loan repayment award, the applicant has no further employment requirement under the agreement.
Eligible Iowa Colleges and Universities
Advanced Registered Nurse Practitioner Programs:
- University of Iowa
- Kaplan University
- Clarke University
- Allen College
Physician Assistant Programs:
- University of Iowa
- Des Moines University