Loan Forgiveness for Doctors

Loan Forgiveness for Doctors – Overview

Loan forgiveness for doctors – If you are a doctor, a wide variety of different sources of finance are accessible to you in the form of a loan.

Whether you need it for personal needs, to improve your quality of life, or to expand your business, you can rely on the loan to meet all your needs.

However, some circumstances disallow them from repaying the loan, further putting them at risk of going bankrupt.

But since doctors are an essential asset to the nation, their wide range of programs allows doctors’ loan forgiveness.

Loan forgiveness programs for doctors are primarily available through federal and state government initiatives rather than numerous private organizations. So let’s discuss it further.

Loan Forgiveness for Doctors

Loan forgiveness for doctors is any program that assists in loan repayment. Some programs thoroughly cover the loan, but few erase only some of the amounts.

If you seek such helpful programs, you can follow the federal government, state government, or other privately funded organizations.

In general, these kinds of programs are only reserved for qualified doctors.

Moreover, the condition is applied to those who practice in high-demand areas or work for a non-profit organization.

Loan Forgiveness for Doctors – 5 Forgiveness Program

1. National Health Service Corps Loan Repayment Program (NHSC)

First on our list is NHSC, which is suitable for doctors and people who work in the healthcare industry. The NHSC Loan Repayment Program offers loan repayment assistance to healthcare professionals who work in underserved communities.

The National Health Service Corps Loan Repayment Program provides up to $50,000 in loan repayment to eligible healthcare professionals for two years of service in an underserved area.

However, a specific condition to be met includes working for at least two years in a highly demanding doctor-shortage area.

But, if you continue your service for the under-served community on your third and fifth contracts, you can earn up to a $25,000 bonus yearly.

Another thing to note here is that an applicant must be skilled in the following specialties:

  • Family medicine
  • Internal Medicine
  • Pediatrics
  • Obstetrics/Gynecology
  • Geriatrics/Psychiatry

To gather more information, you can visit

2. State Loan Repayment Programs

Various states assist doctors and students who cannot repay their loan amount. But similar to the previous program, here, the applicant has also had to meet the specific conditions, which:

  • Working for at least two years.
  • Work experience should be in any rural or underserved area.

3. Armed Forces Loan Repayment Program

The following assistant on our list is the Armed Forces Loan Repayment Program, suitable for medical students and doctors.

Because of their service, medical professionals in the United States forces are qualified for financial help, such as study rewards or debt repayment.

Different branches of the military have somewhat different financial aid.

The Air Force Health Professions Scholarship Program (HPSP) offers medical students a monthly stipend and tuition assistance for medical school in exchange for service, not specifically a loan repayment program for doctors.

4. Public Service Loan Forgiveness

The U.S government Department of Education is another state-owned organization that helps eligible borrowers repay their loans.

For Public Service Loan Forgiveness (PSLF), the borrower must be employed by a U.S. federal, state, local, or tribal government or not-for-profit organization, not limited to state government employment or military service.

For PSLF, borrowers may need to consolidate their loans into a Direct Loan if they have other federal loans, but not all borrowers need to consolidate for PSLF eligibility.

Then, you have to pay off your loan with your regular income.

According to the last condition, you must complete 120 installments at your end, and the rest of the payment is completed under loan forgiveness.

After making 120 qualifying payments while working for a qualified employer, borrowers can apply for loan forgiveness under the Public Service Loan Forgiveness program.

Most importantly, to complete all these conditions, you must be employed fully by a qualified employer. Also, when you apply for forgiveness, you still need to be working.

You can apply for the program

5. Georgia Physician Loan Repayment

Another helpful organization for doctors searching for loan forgiveness is the Georgia Board of Health Care Workforce. This government agency offers many programs, including loan repayment for physicians.

However, under this program, the doctor must be practicing under the following:

  • Family medicine
  • Internal Medicine
  • Pediatrics
  • Obstetrics/Gynecology
  • Geriatrics/Psychiatry

This will allow the doctors to be eligible for $25,000 per year for a two-year contract. To be eligible, physicians must work in a health professional shortage region in a rural Georgia town.

For more information, you can visit

Final Words

So there you have it: a handful of the top options for doctors looking to get their loans forgiven. Furthermore, they should apply to every choice offered to enhance their chances of being chosen.

See Also

Loans for Medical Doctors

Business Loans for Veterans

Loans for Parents With Disabled Child

Medical Loans for Bad Credit

Physician for a National Health Program

Integrative Medicine Training for Physicians

Epic Training for Physicians

Anti Aging Training for Physicians

Current Version
April 8, 2022
Written By
Victoria Abigail Friedland
March 24, 2024
Updated By
Andrea Morales G.

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