New RNs have access to Canada Student Loan Forgiveness Program

Registered Nurses just starting their careers can continue to take advantage of a federal program that forgives a significant portion of student loans for nurses who are prepared to work in rural communities.

An application to the Canada Student Loan Forgiveness Program for nurses, nurse practitioners, family doctors and residents can be made after the applicant has completed working one full year in a designated rural or remote community.

If you are a nurse who qualifies, you could receive up to $20,000 in Canada Student Loan forgiveness over a maximum of five years ($4,000 per year). Loan forgiveness will apply to your outstanding loan principal balance after the end of your 12 months of service. You will be required to keep making regular interest payments.

A designated community is defined by the government as a municipality located outside census metropolitan areas, census agglomerations (geographic units) with an urban core population of 50,000 or above, and provincial capitals.

There are more than 4,200 designated rural and remote communities in Canada with populations below 50,000. Designated locations include communities that provide health services to First Nations, Métis and Inuit populations.

Applicants can verify if their community is designated by using the program’s postal code look-up tool.

Visit canlearn.ca for more information.

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