A reader completed her bachelor’s degree program several years ago and successfully graduated without any debt.
But she wonders what to do about the student nursing loans she took out for a family nurse practitioner program. According to her question, she was “kicked” out of the FNP program.
The reader’s question did not contain any details about her dismissal, but she said she contacted lawyers but received no help.
Some of my previous blogs – such as “Nursing students should know their constitutional rights ” and “An expelled nurse student wants to know her rights” – covered the rights of nursing students who were unable to complete their nursing programs due to an unfavorable decision. For any nurse or nursing student in the same situation, reviewing these blogs can provide some useful information.
As I have pointed out in previous blogs, it is essential to consult and / or retain the services of a nurse lawyer or other lawyer.
An important issue for this reader’s question that requires discussion, however, is student nursing loan repayment. Despite the fact that this reader is no longer part of the FNP program, this does not release her obligation to repay this loan.
Student loans add up quickly
Students who graduate from college nursing programs have, on average, between $ 40,000 and $ 55,000 in student debt. Graduates of nurse practitioner programs have a average student debt of $ 31,000.
Even if a recently graduated nurse or advanced practice registered nurse does land a job, the salary may not be enough to balance other living expenses and cover the cost of required reimbursements.
Fortunately, there are loan cancellation programs for nurses who have to pay off student loans.
All about loan forgiveness programs
One type of loan forgiveness program is the public service loan forgiveness program.
If you work for an eligible employer, the program forgives the remaining balance of all federal loans after the nurse has made a minimum of 120 eligible monthly payments. For example, a nonprofit organization tax exempt under section 501 (c) (3) of the Internal Revenue Code or a government organization at any level (federal, state, local or tribal) .
You cannot default on the loan and must use a qualifying repayment plan while working for a qualified employer in a full-time role (defined by the employer) or at least 30 hours per week.
Because the application process is complex, the federal government has developed a online tool to help with the process.
A second option for you could be your own state loan cancellation program. These programs vary in terms of requirements, eligibility and work terms. Illinois, Montana, Pennsylvania, and California have such programs.
Some loan remission Nursing student loan programs are only available to APRNs, including NPs, certified nurse midwives, and certified nurse anesthetists.
Some programs cover both bachelor’s degrees and advanced practice graduate nurses. In addition, some programs also offer programs for nurse educators.
Implications of Debt on Student Nursing Loans
I can’t stress enough that no one should default on a student loan. This can cause major problems in your professional practice. Your state board of nursing might impose discipline if you don’t pay off your loan.
A professional licensing discipline is a public record and may prevent you from obtaining employment in your state or elsewhere. Know your state nursing practice law and its rules for whether failure to pay on a loan could result in professional licensing action.
Be sure to carefully keep reimbursement records in case you have any questions about your reimbursement history.
Additionally, student loans are not easily repaid through bankruptcy proceedings. Section 523 (a) (8) of the Bankruptcy Code cancels loans in such proceedings only when the student (the bondholder) shows that repayment of the loan would impose “undue hardship”.
“Undue hardship” is difficult to satisfy. Under the Brunner test, the debtor must demonstrate:
- Maintaining a minimum standard of living based on income and expenses is not possible if he is forced to repay the loan.
- There are other circumstances that show that the debtor’s “situation” is likely to continue “for a substantial part” of the repayment period.
- He or she made a “good faith” effort to repay the student loan, according to the Florida bankruptcy in Beece v. AES / Brazosus.
If you are unable to repay student nursing loan repayments, seek the advice of a nurse or lawyer as soon as possible.
Take these courses to learn more about educational activities:
Passion meets preparation: demarcating terminal degrees for fruitful pursuit
(1.2 hours of contact)
A key element of the Future of Nursing report focused on the need to double the number of nurses with doctorates by 2020. The recommendation stems from the need to increase the number of nurses eligible to fill positions. roles of professors and researchers. This educational activity will provide information on three terminal diplomas relevant to nursing practice, PhD, DNP and EdD, in terms of typical scope, purpose and career progression.
Advanced practice nurses: training path for the APRN role
(1 hour of contact)
This continuing education course in nursing provides an overview of advanced degrees for higher education in nursing and focuses on seeking higher education for the clinical role of the Advanced Practice Registered Nurse (APRN) as a as a nurse practitioner. Barriers, available resources to pursue higher education and other critical considerations are identified.
Doctorate or professional doctorate? Spotlight on nurses who share their own impactful doctoral journeys
(1 hour of contact)
Are you considering a doctorate or professional doctorate (DNP or EdD)? Are you wondering about the differences between the two paths? Which path could be the best for you? There are different concentrations for each option and you should know your options before selecting one path over another. We need nurses who have these experiences. Come listen and learn from the nurses who hold these degrees to help you better understand the educational options and the impact of each.
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