Student Loan Debt Forgiveness: Up to $50K If You Qualify
If you have student loans, you have probably heard of student loan debt forgiveness. Your employer or some other entity pays off loans for you, often to fairly high limits. You need to qualify, and here I have written up some help in that process.
I will highlight the NHSC, which I describe in detail below. If you don't fit the description, skip to the bottom for a few ideas on where to look for more help.
What is the NHSC?
Have you heard of the Peace Corps? Or Americorps? NHSC stands for National Health Service Corps, a department in the US Department of Health and Human Services, under the Health Resources and Services Administration.
It’s really no surprise that the NHSC offers loan forgiveness once you understand the purpose of this agency.
What does the NHSC do? The NHSC helps provide clinicians – watch for that word again later – for underserved areas or facilities that need health care. Underserved refers to a facility that has trouble due a remote or inner city location, or perhaps due to the type of facility, like a prison or correctional institution where fewer people want to work.
The NHSC then offers some help. For instance – you had to see this coming – student loan debt forgiveness. And they are serious about it. In some cases, you can qualify for up to $50k. Yes, I know. Big money. A good size chunk of dough. Even if you owe well over 6 figures, that much could really help.
Qualifying for Loan Forgiveness
You have to be as serious about work as the agency is about awarding this money to get it. You have to be licensed in your field. Here is a short list of professionals for reference, from the NHSC Loan Repayment Program site to refer to:
• Allopathic (MDs) or Osteopathic (DOs) physicians
• Primary Care Certified Nurse Practitioners (NPs)
• Certified Nurse-Midwives (NMs)
• Primary Care Physician Assistants (PAs)
• General Practice or Pediatric Dentists (DDSs or DMDs)
• Registered Clinical Dental Hygienists (DHs)
• Health Service Psychologists (HSPs)
• Licensed Clinical Social Workers (LCSWs)
• Psychiatric Nurse Specialists (PNSs)
• Marriage and Family Therapists (MFTs)
• Licensed Professional Counselors (LPCs)
That’s quite a list. To take advantage of the program, hop over to their site through that link above and read up on it. You have to apply during an open season, and be selected. The awards go to qualified people with the most need, so keep that in mind.
On the NHSC site, you can also find a list of facilities that employ people who can qualify. The site lists a couple of requirements, such as that you be licensed and fully trained, and working at the site. Not all positions qualify for the loan repayment, and even if yours does, you have to apply to the program.
The facilities list is like gold. It has clinics, hospitals, correctional institutions, prisons, mental health clinics, dental offices – tons of places to work. You may already work at an approved facility.
Where to Find More Info
I found this site through a link at the American Counseling Association (ACA). If you work in a professional field, you can find an association that relates to your career. That association may have more information on loan student loan debt forgiveness. Start looking around, and you may be surprised what you find.
The American Medical Association (AMA), for example, has some loan forgiveness info on their site as well. The New York State Nurses Association,or NYSNA, also offers guidance. Look for a state or national association that relates to your field and see if you can start applying for some kind of student loan debt reduction program.
How did we live before the internet? Finding these resources takes time, and some online work. When you are up to your ears in debt, you might not think of programs like these – and not everyone can get into one of these programs. Still, I believe that with consistent effort, you will make a dent. You chose a great career helping people, and many groups and associations understand that, and offer help.
If the above careers don’t apply to you, remember many more student loan debt forgiveness programs apply to other fields. I’ve found some programs for engineers, even. Many states have programs for teachers and public safety workers like police officers and firefighters. Lawyers in public service also have many programs they can apply to for relief.
Keep trying, apply to the programs you can, and thank you for the work you do wherever you are.
Help A Friend
Have a friend who needs student loan debt forgiveness help? Send them the link, with one of the services below.