Nurse Corps Loan Repayment Program Receives $200 Million Funding Increase
With the aging population (https://dailynurse.com/a-nursing-shortage-and-more-three-ways-the-aging-population-is-affecting-the-profession/) of clinicians and patients, nursing is in desperate need of a stronger workforce. To advance nurses at all levels of practice, on February 9, 2021, the U.S. House Committee on Energy and Commerce (https://energycommerce.house.gov/) announced its plan to increase funding (https://georgiapca.org/house-energy-and-commerce-committee-advances-language-for-covid-19-rescue-reconciliation-bill/) for the Nurse Corps Loan Repayment Program (https://bhw.hrsa.gov/funding/apply-loan-repayment/nurse-corps) by $200 million through its section of the American Rescue Plan (https://voice.ons.org/advocacy/bidens-american-rescue-plan-targets-social-determinants-of-health-and-other-disparities).
The program reimburses 60% of loan debt for qualifying nursing professionals: licensed RNs, APRNs, and nurse faculty members who graduated from an accredited school of nursing in the United States. To receive reimbursement, nurses must work for two years at either:
- A critical shortage facility (https://bhw.hrsa.gov/funding/apply-loan-repayment/nurse-corps#csf)
- An eligible nursing school (https://bhw.hrsa.gov/funding/apply-loan-repayment/nurse-corps#ens), as nurse faculty
After the first two years, applicants can reapply for a third year of service in exchange for reimbursement for an additional 25% of their student loans.
The application deadline (https://nhsc.hrsa.gov/loan-repayment/nhsc-loan-repayment-program.html) was extended to May 27, 2021. However, the process takes about three weeks to complete. Interested nurses should review the requirements (https://nhsc.hrsa.gov/loan-repayment/nhsc-loan-repayment-program.html#application-requirements) and get started today.
For the past few years, the federal government has announced millions in funding (https://voice.ons.org/advocacy/nurses-can-access-853-million-of-hhs-workforce-funding-awards) to support nurses—and your voice helped make that happen. Become an ONS health policy advocate (https://voice.ons.org/advocacy/a-free-lunch-doesnt-exist-how-i-became-an-ons-health-policy-advocate) and start promoting increased awareness of and aid in mitigating the barriers that you, your colleagues, and your patients navigate every day.