Maryland Launches $3M Zero-Interest Loan Fund for Nurses

Maryland Launches $3M Zero-Interest Loan Fund for Nurses

Maryland will offer zero-interest loans to nursing students under a new $3 million fund announced Thursday by Gov. Wes Moore and the national nonprofit Social Finance, aimed at addressing a shortage of roughly 7,000 open nursing positions statewide. The Maryland Pay It Forward Fund combines $2 million from the state’s Talent Innovation Fund with $1 […]

State of Maryland and Social Finance announce Maryland Pay It Forward Fund to strengthen state’s nursing workforce

ANNAPOLIS, Md. — Gov. Wes Moore and national social impact organization Social Finance announced Thursday the launch of a $3 million fund aimed at tackling Maryland’s persistent nursing shortage by offering zero-interest loans to nursing students. The Maryland Pay It Forward Fund is supported by $2 million from the state’s Talent Innovation Fund and $1 million in philanthropic backing from Blue Meridian Partners. The public-private initiative wi…

State of Maryland and Social Finance Announce Maryland Pay It Forward Fund to Strengthen Maryland’s Nursing Workforce

Maryland is facing a significant nursing shortage, with about 7,000 open positions across the state and high turnover expected to make the shortage worse. Financial barriers are also keeping some qualified people from pursuing nursing degrees. Now, Governor Wes Moore and Social Finance are launching a three-million-dollar fund to help address the problem. The Maryland Pay It Forward Fund will provide zero-percent-interest loans to students in tw…