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Kentucky nurses may be eligible for student loan forgiveness

Nurses working full time in Kentucky may become eligible to save on their student loans by applying for Best in Care benefits.

Best in Care provides interest forgiveness each year to nurses who have Federal Stafford, PLUS or Consolidation Loans through The Student Loan People.

Registered nurses, licensed practical nurses and licensed vocational nurses who work in hospitals, long-term care facilities, public health care or nursing education at colleges and universities in Kentucky may apply for principal forgiveness on their loans each year. Principal forgiveness is limited to $10,000 per year or the balance of the loan if less than $10,000. This applies only to Stafford and PLUS Loans received on or after July 1, 2003.

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Financial Aid Tip of the Month, July 2006; Private loans bridge ...

Many sources of financial aid are available to help college-bound students pay higher education expenses, including federal and state grants, scholarships and Federal Stafford and PLUS Loans. In addition, merit-based scholarships and need-based grants are often available at the local level.All these programs may help ease the burden of paying for college; however, sometimes it is not enough to pay college costs. When that happens, parents and students may take advantage of private student loans, usually called alternative loans.In addition to providing Federal Stafford and PLUS Loans in Kentucky, The Student Loan People, Kentucky's only nonprofit student loan provider, offers the Advantage Loan. This loan helps bridge the gap between the cost of college and the financial aid a student has received.

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