FARGO (KFGO-KVRR) – Essentia Health is sending a letter to the Department of Education, urging them to reconsider a rule that would cap borrowing limits for students in graduate nursing programs.
The rule being considered by the Department of Education would classify certain higher education degrees as either professional or not professional.
Those ruled “professional” would have student loans capped at $50,000 annually with a lifetime limit of $200,000.
Those ruled as “not professional” would have loan caps that are half of those deemed “professional”
The letter by Essentia is being sent as the department of education is holding a public comment period to get feedback on the new rule.
Essentia argues that lowering the loan caps on those seeking careers in fields like nursing and occupational therapy may have to seek loans from private companies and would be subject to higher interest rates.
“Those loan amounts don’t align with the cost of becoming an advanced practice nurse or a physician’s assistant,” said Christie Erickson, Associate Chief Medical Officer for Essentia Health’s East Market. “And in that case it can discourage potentially qualified students. Especially those from rural or lower-income backgrounds from entering the field.”
Erickson says around 80% to 90% of Essentia’s urgent care staff are advanced practice nurses or physician’s assistants, and their primary care staff is over 50%.
The comment period is open until March 6. Those interested in sending in a comment can click here.
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