Loan Forgiveness, Loan Repayment Assistance Programs, and Scholarships

Do you want to have your medical education debt forgiven? Are you interested in learning about programs that might reduce the total amount of your medical education student loans? Are you considering a career in public service or the military? There are numerous programs and opportunities available. Some of these programs are highlighted below; however, we also encourage you to talk with the financial aid staff at your school to learn about other opportunities.

Managing federal student loan payments during residency may be challenging, but income-driven repayment plans offer more manageable payment amounts that could also lead to forgiveness through the federal Public Service Loan Forgiveness (PSLF) program.

Federal loan repayment programs exist to help students offset the costs of medical school in return for a service commitment. The Indian Health Service’s Loan Repayment Program provides repayment assistance for a two-year commitment to practice in health facilities serving American Indian and Alaska Native communities. 

The National Health Service Corps (NHSC) offers a scholarship program for medical students, the Students to Service (S2S) Loan Repayment Program for students in their last year of medical school, federal and state Loan Repayment Programs (LRP), and a Substance Use Disorder Workforce LRP. All programs are intended to help physicians or soon-to-be physicians with the cost and debt they incur from pursuing a medical career.

The College Cost Reduction and Access Act of 2007 established the Public Service Loan Forgiveness program which offers loan forgiveness for borrowers meeting all required eligibility requirements.

Federal loan repayment and scholarship programs exist to help students offset the costs of medical school. Veterans Affairs (VA) provides repayment assistance and scholarship opportunities through its Specialty Education Loan Repayment Program (SELRP) and Health Professions Scholarship Program (HPSP).