List of Medical School Loan Forgiveness Programs by State.

[MsFutureDr]

Here is one option to paying off your medical school loans.
I copied this from Oldpremed. Click on the link for more information about the program. For the current physicians, if you have any experience with any of the programs listed below please share. I definitely see myself taking advantage of one of these programs in the future. Also if you are aware of other loan forgiveness programs not listed on this site, please share.



NHSC Federal Scholarship
Federal Repayment Program
Federal Public Loan Forgiveness

Arizona
Arizona

Arkansas

California

Delaware

Georgia

Hawaii
Hawaii

Indiana

Iowa
Iowa

Kansas
Kansas

Louisiana
Louisiana

Maine
Maine

Maryland

Michigan

Minnesota

Montana

Nebraska
Nebraska

New Hampshire

New Mexico

North Carolina

North Dakota
North Dakota

Oklahoma

Pennsylvania

Rhode Island

South Carolina

Tennessee
Tennessee
Tennessee

Vermont

Virginia

Washington

West Virginia
West Virginia

Wyoming[/QUOTE]

If your state does not offer this program, there's always the Federal Public Loan Forgiveness Program

Feel free to add more to the list

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[rain4venus]

love!

 

[Anne2009]

Not all the links seem to work for me. I am not sure if it is like that for everyone or if the forums look different because I am using a mac? (May be a silly question, but I just got this computer and there are all sorts of confusing things!)

 

[rain4venus]

I only clicked on one link and it didn't work for me. It at least encouraged me to google "statename loan repayment" and I found the new site

 

[sazerac]

Like 15% of my classmates, I am not taking out loans for medical school. But according to these links, my home state would pay me up to $140,000 by working in primary care and following a few other simple rules. Would it make more sense to take out an educational loan anyway then?

I'm going to feel like a real chump if my coworkers are cashing their Jindal checks every year and I'm left out because I took a "non-traditional" path to funding my own education.

I hope I don't come off sounding like a conniving bastard, but $140,000 (25 or 30K a year) is a lot of money, even if one is blessed with $140,000 in the bank already (and are looking at near zero in the bank at graduation). I'm thinking down payment on a house, private high school for my son (very common down here), etc. I'm not trying to score a taxpayer-funded trip to the Bahamas or anything.

If I don't do primary care and therefore don't qualify, I could always pay the loan back anytime and be done with it.

 

[MsFutureDr]

Not all the links seem to work for me. I am not sure if it is like that for everyone or if the forums look different because I am using a mac? (May be a silly question, but I just got this computer and there are all sorts of confusing things!)

I just noticed the links are incomplete. If you are having problems with the links
this is the link to the Oldpremed webpage with the listings.http://www.oldpremeds.org/fusionbb/showtopic.php?tid/45674/

 

[rain4venus]

If I don't do primary care and therefore don't qualify, I could always pay the loan back anytime and be done with it.

This is the only real reason it might be better to pay out of pocket than take out loans. Many people don't end up going into the specialty they expect to, and then you're stuck paying for the interest. Might be worth running the numbers to see how much you'd have to pay back in interest if you took $140k out in loans. That can help you figure out if it's an amount worth rising for the possibility of getting loan repayment. Maybe pay for the first year and take loans out for the other 3 years to minimize interest?

I've been wondering a similar thing with regards to the NHSC scholarship. My boyfriend is completely confident he wants to go into primary care, and so he's convinced he should take a stab at the scholarship. I know how often people change their minds about the specialty they wish to pursue during their clinical years, and so I've been kind of trying to talk him out of it, even though it would be an extra $48k or so in stipends over the 4 years when compared to doing loan repayment. If he *does* end up going into primary care, that $48k and him being able to graduate with little to no debt would be amazing. But if he ends up wanting to do something else then he'd either have to pay a huge penalty, go into primary care just long enough to fulfill his service requirement (then what? do another residency? is that even a possibility?), or else just give up and do primary care anyway. Either way, he'd be out a whole lot more than $48k.

TL;DR: It's not necessarily a great idea to make a plan assuming you know what you're going to do upon graduation. But you could probably figure out how much you'll be risking, and decide if that's worth it or not.


I noticed in NH that they give first preference to people who get a 1:1 match from the hospital/clinic/whatever where they end up working. So the state will pay 75k over 3 years with a possible extension of 40k for 2 more years, and you can potentially get the same amount from your employer. I wonder how common loan repayment by employers actually is (in NH or otherwise)

 

[Gauss44]

Massachusetts?

I guess no Massachusetts programs. Probably no programs for private student loans either.

 

[rain4venus]

In case there was any question of it before, this post should make it clear: I have too much time on my hands. I copied over the links and also alphabetized by state....
Note that I didn't actually check any of the links though - And if you want to paste this into the OP MsFutureDr, feel free.

NHSC Federal Scholarship
Federal Repayment Program
Federal Public Loan Forgiveness

Arizona
Arizona

Arkansas

California

Delaware

Georgia

Hawaii
Hawaii

Indiana

Iowa
Iowa

Kansas
Kansas

Louisiana
Louisiana

Maine
Maine

Maryland

Michigan

Minnesota

Montana

Nebraska
Nebraska

New Hampshire

New Mexico

North Carolina

North Dakota
North Dakota

Oklahoma

Pennsylvania

Rhode Island

South Carolina

Tennessee
Tennessee
Tennessee

Vermont

Virginia

Washington

West Virginia
West Virginia

Wyoming

 

[MsFutureDr]

In case there was any question of it before, this post should make it clear: I have too much time on my hands. I copied over the links and also alphabetized by state....
Note that I didn't actually check any of the links though - And if you want to paste this into the OP MsFutureDr, feel free.

Thanks! I have no idea how you did all that....but it looks way better.

 

[Croooz]

While this is all great and all I don't know of any doctor who has actually received the money. Botched paperwork seems to be the order of the day with this stuff. It's a good idea to know what the state you plan to practice in offers, I just wouldn't put too much stock in them following through with it. Some also have in state residency requirements, like having lived in the state for so long or other fine line issues. Just like the military money, caveat emptor.