NSL Cancellation Eligibility

 
 
 

Nursing Student Loan (NSL) borrowers with loans made before 9/29/1995 may be eligible for cancellation for employment that begins on or after 3/23/2010. To be eligible for cancellation:

  • Your account must be current to your eligible employment start date
  • You must work full time for 12 consecutive months as an RN in any of the following:
    • A clinical or hospital setting
    • Teaching in any field of nurse training, or
    • Serving as an administrator, supervisor, or consultant in a field of nursing

Nursing experience prior to March 23, 2010 is not eligible for cancellation.

While you complete your eligible year of employment, you should file for Postponement of your payments. Postponement delays billing until the end of the employment year, when your payments will be cancelled. To apply, complete an NSL Postponement Form. If you terminate your employment or reduce your status to part time employment prior to the completion of a full 12 months of employment, you must notify your lender and begin repayment of your loan. If you fail to make such notification, payments that would have been postponed during your employment will still be due.

To receive cancellation benefits, you must file an NSL Cancellation form at the end of your eligible year of employment. You can download an NSL Cancellation form on our Benefit Forms page.