Once borrowers leave school or drop below half time enrollment they have a nine-month grace period before they must begin repaying their Nursing Student Loans. Borrowers are nor required to pay any interest on their Nursing Student Loans during the grace period and they will not be charged interest. Although, Nursing Student Loans are eligible for consolidation, it may not be best to include them in your consolidation loan. Before you choose to consolidate them, look into nursing student repayment programs.

Examining Nursing Loan Repayment Programs

There are a variety of health profession and nursing student repayment programs offered on federal, state, and private levels. Be sure to search online for nursing student repayment programs and their application and eligibility rules before you make a decision to consolidate Nursing Student Loans. Depending on the program you choose, your consolidation may affect your eligibility. If borrowers do choose to consolidate Nursing Student Loans, they are eligible for the federal consolidation loan repayment plans.

For some nurses the Nursing Education Loan Repayment Program (NELRP) is the great payment option when it comes to repaying their nursing student loans. Registered nurses are eligible to apply for repayment assistance in exchange for working in a critical shortage facility. The purpose of this and other nursing student loan repayment programs is to help recruit and retain professional nurses in underserved areas.

Many states offer nursing student loan repayment programs to registered nurses. These loans offer loan repayment assistance or loan forgiveness to nurses who agree to work in certain areas. The requirements and assistance amounts vary depending on the individual nursing assistance program.