School of Medicine

Loan Repayment and Forgiveness Programs

 

Public Service Loan Forgiveness (PSLF) Program

The Public Service Loan Forgiveness (PSLF) Program is a federal program that forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer.

 

National Institutes of Health (NIH) Loan Repayment Program

The NIH Loan Repayment Programs (LRPs) are a set of programs established by Congress and designed to recruit and retain highly qualified health professionals into biomedical or biobehavioral research careers. The escalating costs of advanced education and training in medicine and clinical specialties are forcing some scientists to abandon their research careers for higher-paying private industry or private practice careers.
 
The LRPs counteract that financial pressure by repaying up to $35,000 annually of a researcher's qualified educational debt in return for a commitment to engage in NIH mission-relevant research. Since tomorrow's medical breakthroughs will be made by investigators starting in their research careers today, the LRPs represent an important investment by NIH in the future of health discovery and the wellbeing of the Nation. Part of the U.S. Department of Health & Human Services.

 

National Health Service Corps (NHSC) Loan Repayment Program

Primary care medical, dental and mental/behavioral health clinicians can get up to $50,000 to repay their health profession student loans in exchange for a two-year commitment to work at an approved NHSC site in a high-need, underserved area. The payment is free from Federal income tax and is made at the beginning of service so you can more quickly pay down your loans. Approved sites are located across the U.S., in both urban and rural areas.

After completing your initial service commitment, you can apply to extend your service and receive additional loan repayment assistance.

The amount you receive and length of your commitment depends on where you serve (service at sites in higher need areas yields greater loan repayments). It also depends on whether you select the full-time or half-time option. See the 2020 Application and Program Guidance. See if your site is already approved at the Health Workforce Connector.

 

Education Debt Reduction Program (EDRP)

EDRP authorizes VA to provide student loan reduction payments to employees with qualifying loans who are in health care positions providing direct patient care services and are in positions that are considered hard to recruit or retain.

The loan must be for the health professional's education that qualified the applicant for a specific position. Each Veterans Health Administration (VHA) facility determines which positions are hard to recruit and retain and when the facility will offer EDRP for these positions. EDRP is a recruitment and retention incentive only offered or approved for certain positions.

 

Doctors Across New York (DANY) Loan Repayment Program

Doctors Across New York (DANY) is a series of state-funded programs enacted in 2008 to help train and place physicians in a variety of settings and specialties to care for New York's diverse population.

 

Additional State and Federal Programs

AAMC's State and Federal Repayment, Loan and Scholarship data base is a searchable data base provides detailed information about many of the state and federal programs available to medical and other health professions students.

 

 

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