§297o Eligible Individual Student Loan Repayment

Summary

The Secretary, through the Health Resources and Services Administration (HRSA), can make deals to pay off education loans for nurses who agree to become full‑time nursing faculty. The nurse must teach at an accredited nursing school for at least 4 years within a 6‑year period that starts on the later of their degree date or the agreement date. Loan payments begin no more than 10 months after that 6‑year period starts, and not before the nurse begins full‑time teaching. For nurses with a master’s degree, payments are up to $10,000 per year and up to $40,000 total in fiscal years 2010 and 2011 (amounts are adjusted after 2011). For those with a doctorate, payments are up to $20,000 per year and up to $80,000 total in fiscal years 2010 and 2011 (also adjusted later). If a nurse breaks the agreement, they must repay the money the government paid plus interest at the highest legal rate, unless the Secretary excuses or pauses the debt because it is impossible, would cause extreme hardship, or would be unfair. Any money the government is owed must be paid within 3 years after it becomes owed, and recovered funds may be reused for the program. Eligible individual: a U.S. citizen, national, or lawful permanent resident who holds an active RN license and has completed or is enrolled in a master’s or doctorate nursing program. Funding priority is given to doctoral nursing students.