Through the Janet L. Hoffman Student Loan Assistance Program (Maryland), residents who currently reside in the state of Maryland may qualify for loan assistance. Continue reading to see these programs requirements and how much you may be awarded.
For starters, you must currently be a Maryland resident who graduated from an institution in Maryland. Along with graduating from a Maryland state college, you must also work full time in Maryland state or local government or a nonprofit organization.
So long as you meet the above requirements, serve low income or underserved residents, and you gross less than $60,000 per year (if married your combined gross cannot be more than $130,000), you may be eligible for this program.
This program is for those working as lawyers, nurses, nurse faculty members, physical and occupational therapists, social workers, speech pathologists, and physician assistants.
How much can I be awarded?
The main thing to consider here is how much debt you have. Below you will see a breakdown chart that explains the different potential payout amounts:
• If your total debt is $15,000 or less, you may receive up to $1,500 per year.
• If your total debt is $15,001 to $40,000, you may receive up to $3,000 per year.
• If your total debt is $40,001 to $75,000, you may receive up to $6,000 per year.
• If your total debt is over $75,000, you may receive up to $10,000 per year.
You can receive the indicated amount that you fall into for up to 3 years.
What loans qualify for this program?
The Janet L. Hoffman Student Loan Assistance Program (Maryland) accepts the following loans:
• Stafford loans
• Grad PLUS loans
• Consolidation loans
• Perkins loans
• Private student loans
How do I apply for this program?
To apply for the Janet L. Hoffman Student Loan Assistance Program (Maryland) program, you will need to fill out either their online application or download the application and send it in the mail. Head over to the following link f you have an existing MDCAPS account apply here mdcaps.mhec.state.md.us. If you don’t have an MDCAPS account click here for instructions on creating one.
For a breakdown of FAQs as well as any other questions pertaining to this program head over to the official website here.