Essentia Health sends letter to U.S. Dept. of Education about loan caps for advanced nursing degrees

FARGO (KVRR) — Essentia Health is sending a letter to the Department of Education, urging them to reconsider a rule that would affect student loan availability for students in graduate nursing programs by capping borrowing limits on student loans.

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 Fifty thousand dollars annually with a lifetime limit of two-hundred-thousand dollars.

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.

In their letter, 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 that Essentia’s that around 80% to 90% of their urgent care staff is filled by 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.