Nursing is one of the promising career options because you not only get multiple employment options once you become nurse, but also get easy option to payback your loan. In order to assist in recruitment and retain professional nurses who are dedicated to provide health care services to underserved populations, Government has started ‘Nursing Education Loan Repayment Program’ to enhance retention of nurses.
The Nursing Education Loan Repayment Program provides substantial assistance to registered nurses to pay back their educational loans in exchange of serving eligible facilities located in areas facing shortage of such health care professionals. The program will pay up to 60 percent of the total qualifying loan balance of the participant in two years, along with an additional 25 percent of the original balance for third year, which is optional. In order to qualify, nurses must meet a service obligation at any nonprofit hospital, clinic and other health care facilities located in designated health professional shortage areas across the United States.
To qualify the Nursing Education Loan Repayment Program, you must be a U.S. citizen, national or dual national. The participant must be licensed and registered nurse, trained, and able to be employed full time at an eligible critical shortage facility. It is indeed a good opportunity to pay off your loan and get on-hand experience while making good amount of money.
The neonatal nursing practitioners work closely with infants who are born with or get some health issues, major or life-threatening. The practitioner works with patients, doctors, family members and hospital to ensure the newborn patient is getting highest standard of quality care.
How Much will You Earn?
Joining Nursing Education Loan Repayment Program does not mean that you need to do charity to pay back your loan. Instead, you will get an opportunity to get rid of your education loan while earning a good salary. Neonatal nurse practitioners in the Unites States receive a nationwide average of $85k per year. Mostly, these practitioners are women. The pay amount varies based on the experience level and the city you serve, but out of both, experience level has a great impact on the pay.
As the neonatal nurse practitioners earn well, and also get huge off in loan amount, the job satisfaction level among these practitioners is comparatively high. Additionally, these practitioners also entitled to major medical benefits, and some of them also earn dental coverage.
The Bottom Line
If you are a U.S. based nursing practitioner and has taken education loan for studies, then joining Nursing Education Loan Repayment Program will be a wise move. It not only let you pay your debts, but also help you making a good career.