Health Professional Student Loan Repayment Programs by State
There has been gallons of ink spilled over the well-known federal Public Service Loan Forgiveness Program at the federal level. While only a few people have qualified to have their student loan balances forgiven under this program thus far, that will change as the months roll on, and more and more people will have made their 10-year qualifying payments.
But the federal Public Service Loan Forgiveness Program isn’t the only bull in the rodeo. The federal Health Resources and Services Administration has additional forgiveness and repayment programs for health care professionals who serve in underserved areas. And most states offer programs of their own designed to attract health care workers. Details vary by state.
Federal Health Service Loan Repayment Programs
The Nurse Corps Loan Repayment Program provides up to $50,000 to qualified nurses who work in these underserved areas for two years. And if you are willing to stay longer, you can get even more forgiven.
The Rural Community Loan Repayment Program benefits health care professionals working in underserved communities in an approved facility and who treats Medicare, Medicaid and/or Children’s Health Insurance Program patients.
Another program, the Students to Service Loan Repayment Program provides medical students in their last year of medical school with up to $120,000 in forgiveness to qualified applicants willing to serve in an approved health professional shortage area for at least three years.
The National Health Service Corps Loan Repayment Program offers up to $50,000 repayment of student loans for a two-year commitment in underserved areas. Higher need areas offer the greatest loan repayments. And you can also serve part time, for up to $25,000 in tax-free loan forgiveness. If you extend your stay beyond two years, additional loan forgiveness is available, based on where you are serve.
Likewise, the Nurse Corps Loan Repayment Program pays 60% of your unpaid nursing school debt for a two-year commitment and 25% more if you stay three years.
State Health Service Loan Repayment Programs
41 states plus the District of Columbia and the Mariana Islands either currently administer or until very recently administered loan repayments for health care professionals willing to serve in designated health professional shortage areas. So if your state or territory is listed below, click on the link to find out more details.
- District of Columbia
- Mariana Islands (U.S. territory)
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- West Virginia
Jason Van Steenwyk is an experienced financial industry reporter and writer. He is a former staff reporter for Mutual Funds, and has been published in SeekingAlpha, Nasdaq.com, NerdWallet, Value Penguin, RealEstate.com, WealthManagement.com, Senior Market Advisor, Life and Health Pro and many other outlets over the past two decades. He is also an avid fiddle player and guitarist. He lives in Orlando, Florida.
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