Faculty Student Loan Repayment Program
If you are interested in pursuing a career as a faculty member at a health professions school you may want to take a look into the Faculty Student Loan Repayment Program. Through this program, qualifying applicants may qualify for assistance up to $40,000 towards repaying their student loan debt. Continue reading to see what you will need to do in order to qualify for this program.
This program helps to recruit and retain health progressions faculty members. They do this by encouraging students to go into faculty roles in their respective healthcare fields. You must meet one or all of the following in order to qualify for this program:
- Come from a disadvantaged background, based on environmental and/or economic factors,
- Have an eligible health professions degree or certificate, and
- Have an employment commitment as a faculty member at an approved health professions institution for a minimum of two years.
For a full disclosure on the qualifications, please read their program PDF.
How much can I expect to get awarded?
Through the Faculty Student Loan Repayment Program, upon qualifying, you may be able to be forgiven on up to $40,000 for up to 2 years of service. Along with the above amount, you may also qualify for funding to offset the tax burden.
What Loans Qualify?
The following loans qualify for Faculty Student Loan Repayment Program:
• Stafford loans
• Grad PLUS loans
• Consolidation loans
• Perkins loans
• Private student loans
For more information on this program please click on the following link.
How to apply?
In order to apply for the Faculty Student Loan Repayment Program, you will want to head over to the hrsa.gov website to see the official information on what is needed in order to be considered. You will need to obtain a written agreement from an eligible health profession school. This school must also match with the Faculty Student Loan Repayment Program (FLRP) loan repayments.
If you still have questions or would like to know more information please reach out to us here or you can go back to the Student Loan Repayment Assistance Programs page.