The week of May 6-12, 2020 is Nurse Appreciation Week. This week is dedicated to celebrating and honoring the nurse professionals who consistently go above and beyond for their patients. Especially now during the coronavirus pandemic, nurses are putting their lives at risk for the health and safety of our communities. They need our support and love now more than ever!
Nurses and healthcare professionals save lives every single day so it only makes sense that the debt they took on to obtain their nursing degrees and certifications is forgiven! While there is much debate right now regarding forgiving the student loans of coronavirus frontline healthcare workers, it is not set in stone. What nurses can do right now is make sure they are on the path toward guaranteed student loan forgiveness through the Public Service Loan Forgiveness Program.
What is the Public Service Loan Forgiveness Program?
The Public Service Loan Forgiveness (PSLF) Program is a student loan forgiveness program for full-time public service employees such as nurses, teachers, government, and non-profit employees. This federal program was created in 2007 and is available to nurses after 120 repayments while enrolled an Income-Driven Repayment Plan.
What is an Income-Driven Repayment Plan?
An Income-Driven Repayment (IDR) Plan is a repayment plan for federal student loan borrowers to pay back their debt in amounts that are proportionate to their income, family size, and federal student loan type. These plans include:
-Income-Based Repayment (IBR) 2009 Plan
-Income-Based Repayment (IBR) 2014 Plan
-Income-Contingent Repayment Plan
Income-Driven Repayment Plans are great because even if nurses are waiting to see if their loans will be forgiven as a coronavirus frontline healthcare worker, they can still lower their payments right now!
How to sign-up:
Nurses can sign-up for PSLF and lower their payments through our Discover Tool. Almost 80% of people who use our tool find a better plan and lower their payments by an average of $298! The best part, it’s completely free!
As a special thank you to nurses during Nurse Appreciation Week, we’re offering a free 15 minute chat with Chipper’s founder, Tony Aguilar to go over available forgiveness options.
Schedule a 15-minute conversation here.
As student loan experts with over 10 years of experience, Chipper is the leading student loan management company in the country. We manage over $250 million in student loan debt from over 25,000 borrowers. You can count on us to get you on the path to becoming debt free.