Will Nursing Student Loan Debt be Cancelled?

Will Nursing Student Loan Debt be Cancelled?

Whether you are a nursing student taking out student loans or a nurse that is now paying them back, you’re not alone. If you are one of the 44.7 million people with student loan debt, you’re probably wondering if you will be paying on it forever or if it will be cancelled at some point.

Using Lume to Manage Student Loans

Loan payments can be seamlessly processed with Lume's student loan integration. By syncing your bank account with your student loans, Lume will let you make student loan payments smoothly and efficiently. As a result, you can view all your student loans through Lume—which is more convenient than logging in through your student loan provider. This is especially helpful if you have multiple lenders, all your loan information is compiled in one place. Lume provides this service for free to all account holders. Additionally, you will still receive the .25% interest rate discount federal loan servicers provide when you enroll in automatic payments.

What is Loan Cancellation and Will Nurses Qualify?

The current administration has announced plans to cancel student loans. So, who can qualify for loan cancellation?

  • A borrower who attended a now-defunct school.
  • A borrower with a total and permanent disability.
  • A borrower who is a public servant.

Depending on where you work as a nurse, you may be eligible for student loan cancellation under the public servant qualification.

Steps to Get Loans Forgiven Using PSLF and Nurse Forgiveness

The Public Service Loan Forgiveness (PSLF) Program is a program that forgives student loans for those who work in the public service field. Jobs in this field include first responders, teachers, social workers, and other government or nonprofit employees. Nurses who work for a government agency or nonprofit may qualify for student loan cancellation under PSLF.

The requirements for getting your student loans forgiven with PSLF are:

  • Working as a registered nurse for a qualifying agency (government agency or non-profit).
  • Full-time employment (as defined by employer), or at least 30 hours per week.
  • Enrollment in a qualifying repayment plan with 120 qualifying payments made, the equivalent of 10 years worth.

In addition to PSLF, there are a number of other student loan forgiveness programs for nurses. These include:

  • Nursing Corps Loan Repayment Program (NCLRP)
  • ~Nurses who work at critical shortage facilities in underserved communities.
  • ~Up to 85% of student loan debt is forgiven.
  • ~Must work at least two years at a critical shortage facility.
  • National Health Service Corps (NHSC)
  • ~For advanced practice registered nurses.
  • ~Must work in a health professional shortage area (HPSA).
  • ~Sign a two-year contract to work at HPSA.
  • Loan forgiveness programs for nurses on the state level
  • ~Some individual states have their own unique student loan forgiveness programs.
  • ~Eligibility, requirements, and work commitment will vary by state.

While student loan debt can be overwhelming, these are great options for nurses to consider. Determine which loan forgiveness programs you may qualify for and apply. Also, factor in what works best for you and your family. If you need to sign a contract, note the time commitment and location.


Keep in mind that some of these application processes are time intensive, which means it can take up to a year to be accepted. In the meantime, you can find ways to budget and save money to help offset some of your student loan debt.

To learn more about how Lume can help you manage your student loan debt, go to uselume.com and sign up for their waitlist.

Joanne Potter BSN

Joanne Potter BSN, RN is a writer that specializes in health and wellness. She has fifteen years of experience as a Registered Nurse in the NICU (Neonatal Intensive Care Unit). Her years working at the bedside and extensive neonatal knowledge enable her to write with a deep understanding of what patients and families want from their communities.


Answering questions related to all things nursing and money.