The Oregon Nursing Loan Program
The 1991 Oregon Legislature established this loan forgiveness program to encourage nursing students to practice in areas in Oregon where there is a critical shortage of nurses. The program did not achieve its goal of increasing the number trained registered nurses practicing in critical nursing shortage areas.
As a result, in July of 2001, the Oregon Legislature made several changes to the Oregon Nursing Loan program and established the Nursing Services Program. The Nursing Services Program is a loan repayment program in which registered nurses practicing in critical nursing shortage areas receive funds for the repayment of their federal student loans. The intent of the program is to more effectively encourage nurses to practice in critical nursing shortage areas in Oregon.
The Oregon State Nursing Board is in the process of re-examining the definition of critical nursing shortage areas in Oregon. This definition may affect Oregon Nursing Loan participants. OSAC will send information on these changes to eligible Oregon Nursing Loan participants in March.
Qualified Oregon Nursing Loan participants may apply to the new Nursing Services Program when applications are available. Information for application will be available in spring, 2002.
The Oregon Legislature has insured funding for those individuals in the Oregon Nursing Loan program who remain enrolled in an eligible nursing program until their program is completed or the possible retraction of funding for this program.
Oregon Nursing Loan participants can continue to have their loans forgiven by completing one calendar year of full-time employment as a registered nurse in the State of Oregon for each academic year in which a loan was received (within five years of graduation or upon completion of a period of authorized deferment.
Additionally, as a result of recently enacted legislative changes, now loan forgiveness may be prorated based on at least half time employment as a registered nurse in a critical shortage area. This provision applies to individuals currently working towards loan forgiveness.
New application cannot be made to this program. Therefore we do not plan to distribute an ONL application. Awarded students currently in the ONL program that will be continuing their studies in 2002-03 will be contacted by our agency in March. |
