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There are various loan forgiveness programs for nurses serving in the military. The Navy offers a Health Professions Repayment Program , while the Army has similar programs for active-duty members .
Tennessee offers the Graduate Nursing Loan Forgiveness Program (GNLFP) and Minority Teaching Fellows Program. The Tennessee State Loan Repayment Program offers up to $50,000 for eligible care workers.
The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time in public service. [1]
To date, the loan forgiveness approved by the Biden-Harris government totals $136.6 billion in aid for 3.7 million American borrowers, according to the U.S. Department of Education (ED).Relate
Instead loans will be administered directly by the Department of Education. [25] Increasing the Pell Grant scholarship award. For new borrowers of loans starting in 2014, those who qualify would be able to cap the amount they must spend on loan repayment each month to 10% of their discretionary income, down from 15%. [24]
Income-based repayment or income-driven repayment (IDR), is a student loan repayment program in the United States that regulates the amount that one needs to pay each month based on one's current income and family size.
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