Federal Forgiveness Programs
Military Programs
Health Service Programs
Teaching Service Programs
Community Service Programs
Specialized Professional Programs
College Cost Reduction Act of 2007
State Forgiveness Programs
Military Programs
US Air Force -- Available to medical school graduates enrolled in Air Force approved medical and specialty programs. Assistance includes full scholarships with living expense stipends and grants of approximately $18,700 for every year of participation. Active duty service obligations vary in length after completion of intern and resident programs. Residencies and fellowships are also available.
US Army Medical Corps --
Special Incentive and Pay Programs (scholarships, grants and tuition assistance) available to physicians specializing in qualified programs. Includes programs for active-duty, reservists and those seeking commission in the Medical Corps. Active duty service obligations and loan repayment amount vary in length.
US Army Medical Education -- Health Professions Loan Repayment Program (HPLRP): Established to obtain and recruit active duty health professionals in designated health care shortage areas. Available to fully qualified health care professionals, full-time students in final year of a program or trainees in approved specialty graduate programs. Provides $22,000 annually for up to four years to repay qualified health care educational loans. Requires participants to enlist for active duty for up to four years.
US Army National Guard --
Students who are in the Army National Guard may be eligible for their Student Loan Repayment Program, which offers up to $10,000. Contact your representative for details.
US Army Reserve --
Program available to commissioned officers in the Medical Corps or Army Nurse Corps. After one year of satisfactory service, members are able to receive up to $3,000 per year in educational loan repayments, not exceeding $20,000.
US Navy: Armed Forces Health Professionals Scholarship Program --
Naval scholarship support available to those undergoing training in medical, dentistry, optometry and osteopathy fields. Program includes monthly stipend and financial assistance through annual grants of approximately $21,580. Active duty services obligations vary in length. Links available to programming information for numerous research institute and clerkship opportunities across the country and aboard Naval vessels.
Health Service Programs:
National Health Service Corps -- Working with the Nation's underserved, fully trained health professionals will receive a maximum of $25,000 per year towards repayment of educational loans if they serve at an eligible site. Clinicians will also receive a competitive salary, tax relief benefits and the chance to make a difference. Program excepts: physicians (family medicine, general pediatrics, general internal medicine, general psychiatry or obstetrics/gynecology), primary care nurse practitioners, primary care physicians assistants, certified nurse-midwifes, dentists, dental hygienists and mental health professionals. Two-year commitment required.
The Indian Health Service --
Two year contracts with priority given to nurses, nurse practitioners, mental health professionals and physicians. Up to $20,000 per year awarded plus the LRP will pay an additional 20% annually to the IRS to offset the increased tax liability incurred by participant. Program available to those eligible to practice in an approved IHS or other Indian Health Program priority site.
The National Institute of Health -- The NIH sponsors Loan Repayment Programs in AIDS, Clinical and General Research as well as a General Research Fellowship for qualified physicians, nurses, and scientists. Appointments vary from 2-3 years and pay a maximum of $35,000 per year towards educational loans.
Nursing Education Loan Repayment Program -- The Nursing Student Loan Forgiveness Program is operated by the Office of Public Health Nursing at the Florida Department of Health and provides funds to assist in the repayment of nursing education loans. Enrollment is based on available funds, and provides up to $4,000 a year for a maximum of 4 years in repayment of nursing educational loans. Must be licensed as an LPN, RN, or ARNP in the State of Florida. Must have loans incurred toward a nursing education. Must work full-time at one of the designated sites established in Section 1009.66, Florida Statutes.
Social Worker Loan Forgiveness
Professional Provider of Early Intervention Services for the Disabled Loan Forgiveness --Your loan will be cancelled if you are a full-time, qualified professional provider of early intervention services in a public or other nonprofit program under public supervision. Early intervention services are defined as developmental services that: are provided at no cost except where federal or state law provides for a system of payments by families, including a schedule of sliding fees; are designed to meet the developmental needs of an infant or toddler with a disability in one or more of the following areas: physical development, cognitive development, communication development, social or emotional development, or adaptive development; meet the standards of the state in which they are provided; are provided by special educators; speech and language pathologists and audiologists; occupational therapists; physical therapists; psychologists; social workers; nurses; nutritionists; family therapists; orientation and mobility specialists; and pediatricians and other physicians; to the maximum extent appropriate, are provided in natural environments, including the home and community settings in which children without disabilities participate; and are provided in conformity with an individualized family service plan adopted in accordance with Section 636 of the Individuals with Disabilities Education Act.
Teacher Service Programs
Teacher Loan Forgiveness Program -- Certain teachers who have outstanding Federal Stafford or Consolidation Loans may be eligible to have a portion of their loans forgiven (in other words, they won't have to repay that portion of the debt). There are two different teacher loan forgiveness maximums--$5,000 and $17,500--each with their own set of eligibility criteria. Contact the school you attended to inquire about teacher loan forgiveness in the Federal Perkins Loan Program.
Special Education Teacher Loan Forgiveness Program -- Same as above
Community Service Programs
AmeriCorps Loan Forgiveness Program --
Serve for 12 months and receive up to $7400 in stipends plus $4725 to be used towards your loan. Call 1-800-942-2677
Peace Corps Loan Forgiveness Program --
Volunteers may apply for deferment of Stafford, Perkins and Consolidation loans and partial cancellation of Perkins Loans (15% for each year of service, up to 70% in total). Volunteers make a real difference in the lives of real people with two years of service in more than 70 developing countries. Contact the Peace Corps at 1111 20th St., NW, Washington, DC 20526 or call 1-800-424-8580 or 1-202-692-1845
Volunteer in Service to America (VISTA) --
Volunteer with private, non-profit groups that help eradicate hunger, homelessness, poverty and illiteracy. Provide 1700 hours of service and receive $4725. Call 1-800-942-2677 or 1-202-606-5000
Specialized Professional Programs
Law Enforcement Official Loan Forgiveness -- When you protect and serve your community, the government will do your budget the same favor by paying down your Perkins student loan. Your loan will be cancelled if you serve full time as a qualifying law enforcement or corrections officer. To establish eligibility, the school must determine that your: employing agency is eligible; i.e., a local, state, or federal agency that is publicly funded and its activities pertain to crime prevention, control, or reduction or to the enforcement of the criminal law and position is essential to the agencies primary mission; i.e., you are a sworn officer or person whose principal responsibilities are unique to the criminal justice system. Contact your school to find out how to confirm your eligibility and apply for this program.
Non-for-Profit Employee Loan Forgiveness --
Your Federal Perkins loan will be cancelled if you serve as a full-time employee of an eligible public or private nonprofit child or family service agency that is providing or supervising the provision of services to both high-risk children who are from low- income communities and the families of such children.
Public Interest Lawyer Loan Forgiveness -- LRAPs were set up by law schools (and are now also offered by some federal and state agencies) to defray or, in some instances, fully cover the education debt payments of their graduates who become government or public interest lawyers. Generally speaking, full-time work (with some programs, part-time work may also qualify) as a public defender/prosecutor or in other government agencies/advocacy groups or in a public interest law firm will qualify you for an LRAP. Note that judicial clerkships are generally not considered eligible employment. Eligibility is also generally limited to those making under a certain annual income threshold, usually $35,000 - $50,000. If you qualify, you will receive forgivable loans (contingent upon eligible employment for a specified period of time), grants or other financial assistance toward a percentage, or even all, of your student loan payments in a given year. Some schools may expect at least some contribution toward annual loan payments from each applicant.
The College Cost Reduction Act of 2007
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