Student Loan Forgiveness

[TousPharmD]

Hello,

I am in my last year of pharmacy school in NYC and will be moving back to Los Angeles, California in less than a year. I am in over $200,000 debt with student loans. Does anyone have any suggestions or hints on how to get a student loan forgiveness or where I should work to help me pay my loans off?

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[gwarm01]

If you work for a non-profit (403b) institution you can participate in the public service loan forgiveness (PSLF) program. The details may have changed since I started, so do your own research. Basically you enroll in a income-based repayment plan, and after 120 payment the remainder is forgiven. I'm on track to have about 10k forgiven, but you have significantly more loans than I do and may benefit more.

 

[TousPharmD]

If you work for a non-profit (403b) institution you can participate in the public service loan forgiveness (PSLF) program. The details may have changed since I started, so do your own research. Basically you enroll in a income-based repayment plan, and after 120 payment the remainder is forgiven. I'm on track to have about 10k forgiven, but you have significantly more loans than I do and may benefit more.

Thank you for replying so quickly. I did some research and your information is accurate. Do I have to be a lice sensed pharmacy to be eligible or is a pharmacy intern okay too?

 

[bacillus1]

Do a VA residency then get a VA job that offers EDRP. Can get up to 60k over 5 years (though of course your base salary will be a bit lower than private institutions). Not all VAs offer it, LA does for now. Of course you'll have a lot of competition and a particular VA may not have jobs in a particular year.

 

[confettiflyer]

Thank you for replying so quickly. I did some research and your information is accurate. Do I have to be a lice sensed pharmacy to be eligible or is a pharmacy intern okay too?

Technically you can be an intern...as long as it's a non-profit or government agency. But...if you graduated pharmacy school with that much debt, I should hope you'll find an actual Rph position by the time you enter repayment.

But yes in theory you can go work for any non-profit unrelated to pharmacy, make minimum wage, and qualify. Must be >30hrs/week or the local definition of full-time, whichever is greater.