Occupation-Based Student Loan Repayment Programs

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Student loan repayment programs for doctors, nurses, vets, STEM majors, lawyers, educators and more!

Most people are aware that your student loans can be forgiven if you’re in a government position.  A while back I wrote about states, cities, and provinces that are willing to pay back your student loans for simply moving there.

Today I’ve got even more programs that will help you pay back that nasty debt.  Most of them are based on your occupation.  Some of them are pretty common.  Some of them are completely random.  Some of them only apply to certain states or geographic locations.  Some are national.

All of them are worth reviewing.  They could help you pay back a significant portion of your debt.

(These are all snippets…for full details of the program hit “more information” under each one as their may be additional qualifiers I do not mention.  You may or may not be eligible for the full payback amount as listed depending on your situation.)

National program to get student loans forgiven

Teacher Student Loan Forgiveness

Locality:  Federal/National

What it will pay back: Up to $17,500 on direct subsidized and unsubsidized loans & subsidized and unsubsidized Federal Stafford loans.

Special Requirements:  Be a teacher in a low-income school district for 4-5 years

More Information

Work in education? You may be able to get your student loans cancelled!

Teacher Student Loan Cancellation

Special Requirements:  Hold on!  You don’t have to be a teacher for this one!  If you work in the educational field, odds are you qualify.  You have to work either in a field where there is a lack of qualified educators as determined by your state, in special education, OR in a school with low-income families.

Locality:  Federal/National

What it will pay back:  A discharge of up to 100% of your loan from the Federal Perkins Loan program.

More Information

uninsured lost obamacare

Association of American Medical Colleges Scholarships, Student Loan Repayment & Student Loan Forgiveness Programs

Locality:  Various states across the country.

What it will pay back:  Varies. Some state programs grant scholarships while others provide student loan repayment or forgiveness.

Special Requirements:  Varies, but you will need a tie to a state in order to qualify for its program.

More Information

occupation based student loan repayment programs

NURSE Corps Student Loan Repayment Program

Locality:  Federal/National

What it will pay back:  60% of your loan balance over the course of two years, possibly 25% for a third year.

Special Requirements:  Must be an RN with you education completed. Must be working full-time at a designated eligible critical shortage facility.

More Information

occupation based student loan repayment

Pitt Law Student Loan Repayment Assistance Program

Locality:  University of Pittsburgh Law School graduates

What it will pay back:  An unknown-to-me sum towards your debt.

Special Requirements:  Must be a graduate of Pitt who is using their law degree in public service (or public service related to the welfare of children depending on the program.) Your income must be below 400% of the federal poverty level.

More Information

Pitt Law has two additional student loan repayment programs available.

A lot of other schools and states have programs for their law students. Do some research around your own!

Vetrinary Student Loan Repayment Programs

Arkansas Veterinary Student Loan Repayment

Locality:  The state of Arkansas

What it will pay back:  The balance due on your loans for five years.

Special requirements:  Get a job or internship within 90 days of your graduation, and stay employed in the field consecutively to get the maximum benefits for the full five years.

More Information

Programs for Veterinarians in Other States

Joining the Peace Corps could reduce your student loans.

Peace Corps Student Loan Deferment and Cancellation

Locality: National (You may serve outside of the US.)

What it will pay back:  Potential 15-70% cancellations on Perkins Loans. Deferment on several Federal Loans. Deferment on private loans vary from lender to lender.

Special Requirements:  Join Peace Corps and serve for at least two years.

More information

occupation based student loan repayment programs

New York State Licensed Social Worker Loan Forgiveness Program

Locality:  The state of NY

What it will pay back:  $6,500/year up to $26,000

Special Requirements:  Be a licensed social worker in New York state working in a critical human service areas in health, mental health, substance abuse, aging, HIV/AIDs, child welfare, or in an area with multilingual needs. You must work in an eligible county at 35+ hours per week.

More information

STEM Student Loan Forgiveness

North Dakota Science, Technology, Engineering, and Mathematics Occupations Student Loan Program

Locality:  The state of North Dakota

What it will pay back:  $1,500/year up to $6,000

Special Requirements:  Must be a North Dakota college graduate with a final GPA of 2.5 and have been working in your field for 12 months.

More information

Vermont used to have a very similar program that paid out a little bit more, but Vermont’s Student Loan STEM incentive program has sadly been discontinued.

 

While it’s really exciting if you can take advantage of any of these programs, be aware that money you receive to pay off your loans may be subject to taxes!

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14 thoughts on “Occupation-Based Student Loan Repayment Programs

  1. Ms. S

    Great info! I wouln’t qualify for any of these programs but the fella has a state job in service so he may qualify. We need to start doing some research and get his applications in.

    Have a great weekend femme!

    Reply
  2. Alexa

    I had no idea there were so many positions that would help pay back student loans. A lot of these programs definitely seem worthwhile if the person has a lot of debt. Very good info for anyone deep in student loans!

    Reply
    1. femmefrugality Post author

      Thanks, Alexa! And it is surprising what you can find…there’s even more if you’re willing to do a bit of digging!

      Reply
  3. KK @ Student Debt Survivor

    When I was a kid I wanted to be a Veterinarian. If I was better at science I’d still love to do so. Looks like I need to move to Arkansas 🙂 Great list of loan options. I hope that these help at least a few people get out from under their debt.

    Reply
    1. femmefrugality Post author

      Me, too! Arkansas is the one I featured for vets, but there’s soooo many other states that have similar programs. Was this the same social worker program you had looked at? Since I’m not in the field some of the nuances might have gone over my head.

      Reply
  4. MonicaOnMoney

    @FemmeFrugality- Wow, this is an awesome list! I didn’t realize that there are so many loan repayment programs now. I’m going to forward this to my friends, anyone with student loan debt should see if they qualify for student loan repayment programs. Who knows, you might qualify and get that debt paid down! Awesome!

    Reply
    1. femmefrugality Post author

      Does the church you work for operate as a non-profit for tax purposes? If so, then yes. You can either use the Public Service Debt Forgiveness program or use the same program combined with income-based repayment. Money Help for Christians has a great article on it, though I can’t say I’m 100% sure all the info is completely current: http://www.moneyhelpforchristians.com/get-student-loan-debt-forgiven-a-guide-for-ministers-pastors-non-profit-workers/

      Reply
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