Loan Forgiveness, Loan Repayment Assistance Programs, and Scholarships

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.

Interested in a service career, or want to reduce your medical school debt by working in public service or the military? Good news—there are numerous possibilities available. With each program, financial benefits and requirements vary; however, some of the more common opportunities are highlighted below. 

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).