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Look for programs that forgive nursing school loans before starting classes |
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If you think you're most likely going to have to get a loan to help pay for nursing school, look into forgiveness programs up front. That way you can go into a nursing program with the information about loan forgiveness in mind, and make decisions about your education that will meet their expectations for the forgiveness program.
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Keep careful track of the requirements for forgiveness |
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Different programs will have different requirements for the forgiveness of nursing school loans. You may be required to volunteer at a free clinic a certain number of hours a week, or work for a particular hospital in your area. It's important to keep careful track of what the specific requirements are, as well as how you're meeting them, to ensure that your loans will be forgiven. Otherwise, you will be expected to pay back the loans to your financial institution, and may have additional fees that go with it.
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Treat your nursing school loan as a loan until it is officially forgiven |
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Until you get the official notice that your nursing school loan has been forgiven, it's important to treat it as a loan you will have to pay back. This means keeping track of paperwork for your loan, and perhaps even budgeting for a monthly payment. That way, if something happens and you do have to pay back the loan, you'll be prepared for it. If you count on the loan being forgiven and something happens to change your situation, or you're unable to meet the program's requirements, you have to be prepared to move forward.
Getting a nursing school loan may be necessary to help you get your degree in nursing, but having loan payments doesn't have to be one more expense that keeps you from achieving your dreams. Instead of being bogged down with monthly loan payments for years after you graduate, consider looking into loan forgiveness programs that will pay off the loan for you if you meet their requirements. Then you can still get the financial aid you need to earn your degree, but without the payments hanging over your head afterward.
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