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The Veterans' Home Nurse Loan Repayment Program provides for the payment of eligible educational loans as an incentive for nurses to pursue and continue their careers at State of Illinois veterans' homes. The annual award to qualified registered professional nurses and licensed practical nurses may be up to $5,000 to repay their student loan debt. This award may be received for up to a maximum of four years.
To be eligible, you must:
Each year you wish to apply for this program, you must submit a Veterans' Home Nurse Loan Repayment Application to ISAC. You may download and print an application here at collegezone.com. Applications are also available at all State of Illinois veterans' homes and at ISAC's Deerfield, Springfield and Chicago offices. You must submit your application to ISAC's Deerfield office as indicated on the application.
If your application is incomplete, ISAC will notify you and you will have the opportunity to furnish missing information. Your application will be considered for processing as of the date it is complete and all required information has been received at ISAC's Deerfield office.
Renewal applicants must submit an application each year, and may also be required to submit a history of prior awards in order to demonstrate that program proceeds were used for eligible educational loans.
The award amount is based on the applicant's remaining balance on eligible education loans, not to exceed $5,000 per year. Proceeds will be remitted in multiple disbursements directly to the holder of the loan(s) to be repaid.
Note that ISAC routinely updates this section as new information becomes available. Be sure to check back periodically for the current processing status.
For the 2011-12 Academic Year
ISAC is currently accepting Veterans' Home Nurse Loan Repayment Program applications for the 2011-12 academic year. There is currently a minimum 4-5 week turnaround from the date ISAC receives an application to when funds are disbursed for approved recipients. Depending on the volume of payment vouchers being processed by the State of Illinois Comptroller's Office, this timeframe may increase.
© 2003-2012 Illinois Student Assistance Commission