| Iowa
Teacher Shortage Forgivable Loan Program |
| • |
Iowa
residents enrolled at least half-time in an accredited
education program leading to a degree and certification
for teaching in a shortage area |
| • |
Sophomore
level standing or higher |
|
Up
to 3,000 Annually |
| • |
20%
of the loan will be forgiven for each year of shortage
area teaching |
| • |
Five
years of teaching in a shortage area forgives 100% of
the loan |
| Repayment
begins 30 days after: |
| • |
termination
of the recipient's enrollment in an eligible institution |
| • |
graduation
if the recipient does not intend to teach full-time
in an Iowa shortage area |
| • |
termination
of the recipient teaching in a shortage area if the
recipient has taught for less than five years |
| • |
Up
to 10 years |
|
| Iowa
Student Loan Nursing Education Loan Forgiveness Program |
| • |
Applies
only to Federal Family Education Stafford Loans or a
Partnership Loans that are owned by Iowa Student Loan |
| • |
Pass
the required National Council Licensing Examination
for registered nurses |
| • |
Employed
full-time as a registered nurse in Iowa within 12 months
of graduation |
|
| Percent
of loan repaid per year of employment: |
| Year |
|
% |
| 1 |
|
15% |
| 2 |
|
25% |
| 3 |
|
30% |
| 4 |
|
30% |
| Total |
|
100% |
|
| Maximum
Forgiveness over 4 years: |
| Nursing
Educator |
$20,000 |
| RN
Long-Term Care Facilities |
$15,000 |
| RN
Rural Counties |
$10,000 |
| RN
Urban Counties |
$5,000 |
|
