Deanna
“Dear Steve,
I am a single mother of 2. I graduate with a BSN in nursing but of student loans far outway what I make. Sallie Mae is now threatening to take legal action or start garnishing my wages. I either pay rent or pay sallie mae.
What can I do to either pay them off or get some type of assistance. I know there grants and other monies out there. HELP!!!!
Deanna”
The Answer:
Dear Deanna,
SallieMae is one of the worst to owe. They offer little help or consideration to those struggling to make their loan payments.
Congratulations on becoming a nurse.
As far as some “grant” program that will pay off 100% of your debt with no strings, there is no such program. It is a myth.
But here are some programs that can provide you with some relief.
Nursing Education Loan Repayment Program – NELRP is a competitive program that repays 60 percent of the qualifying nursing educational loan balance of Registered Nurses (RNs) selected for funding in exchange for 2 years of service at a critical shortage facility. Participants may be eligible to work a third year and receive an additional 25 percent of the qualifying nursing educational loan balance. More Information
Federal Pell Grant – A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded usually only to undergraduate students who have not earned a bachelor’s or a professional degree. (In some cases, however, a student enrolled in a post-baccalaureate teacher certification program might receive a Pell Grant.) Pell Grants are considered a foundation of federal financial aid, to which aid from other federal and nonfederal sources might be added. More Information
Association of American Medical Colleges – The AAMC has an excellent database of medical loan forgiveness programs that you can review. Some are state dependent. More Information
Michigan State University Libraries Nursing Grants – The MSUL has a excellent list of grants and scholarships that are available for nursing students in all parts of the country. More Information
