Educational Loan program Expands for Florida Nurses

8/13/2004


Jacksonville, FL – Edsouth, a regional nonprofit student loan secondary market, has expanded its discounted Stafford loan for Florida nursing students to include graduate students as well as undergraduate students and those seeking professional certifications. The Florida Nursing Edloan features a 3% discount on Stafford loans during repayment – that means a .37% interest rate. The loan is available through Edsouth's lending partner, Edamerica.

According to the Health Resources and Services Administration (HRSA), Florida will need 34,000 additional registered nurses (RNs) by 2006. The Florida Department of Labor and Employment Security (FELES) predicts that the demand for RNs will grow from 120,700 to over 156,000 in the next decade – almost a 30% increase.

"Edsouth remains committed to lowering the cost of higher education for Florida's healthcare workers," says Tony Hollin, chairman & CEO. "Projections show that the U.S. will need 1.7 million nurses in 2020, yet the supply will be just 600,000. Due to its mature population, Florida's situation is especially critical. Edsouth is here to help."

The Florida Nursing Edloan offers benefits for nursing students across Florida. The discounted rate takes effect during repayment. Nurses qualify upon graduation and receipt of licensure from the state of Florida. Eligible borrowers are undergraduate students working toward RN and LPN designations as well as graduate students seeking advanced degrees.

"One of our most severe shortages is in nurses prepared at the masters and doctoral levels who are prepared to teach in our college and university nursing education programs," says Barbara Lumpkin, executive director of the Florida Nurses Association. "This new benefit will have a significant positive impact on our efforts to address the shortage of registered nurses in Florida."

More information about the Florida Nurse Edloan program is available online at www.edamerica.net.

 

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Headquartered in Knoxville, TN, Edsouth is one of the nation's largest providers of education loans. Offering low-cost student loan and benefit programs nationwide, Edsouth has helped over one million students and families realize their dreams of higher education since 1988.


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