Through the Minnesota Dentist Student Loan Forgiveness Program qualifying applicants may be eligible to receive up to $30,000 annually towards their student loan repayments in exchange for service in areas that are underserved. Continue reading to see what you need in order to qualify for this dental loan repayment program.
The Dentist Loan Forgiveness Program provides funds for repayment of qualifying educational loans for dental students, residents or licensed dentists. Applicants are responsible for securing their own educational loans. Qualified loans include government, commercial and foundation loans for actual costs paid for tuition, reasonable education and living expenses related to the graduate or undergraduate education of a health care professional.
Participants are required to practice for at least 30 hours per week, for at least 45 weeks per year, for a minimum of three years as a dentist serving at least 25 percent of their annual patient encounters to state public program enrollees or patients receiving a sliding fee schedule
Participants must begin their service obligation under this program no later than March 31 following completion of their dental program. Participants must complete their dental program as originally stated in their application.
Participants are eligible to participate for up to four years in the program during which they practice as a dentist serving at least 25 percent of their annual patient encounters to state public program enrollees or patients receiving a sliding fee schedule. The ORHPC will make an annual payment to the participant in the amount of $30,000, not to exceed $120,000 total for the maximum four-year period or the balance of the designated loan(s), whichever is less subject to the availability of funds appropriated by the Minnesota State Legislature for the loan forgiveness program.
What is the award amount?
Through the Minnesota Dentist Student Loan Forgiveness Program, applicants will have the opportunity to collect up the $30,000 per year for a maximum of four years. The time served must be within an underserved area with an appropriate organization. Finally, the student loan forgiveness cannot exceed your total loan amount.
What loans qualify?
The following loans will qualify through the Minnesota Dentist Student Loan Forgiveness Program:
• Stafford loans
• Grad PLUS loans
• Consolidation loans
• Private student loans
• Institutional loans
• Perkins loans
How to apply?
For more information regarding this program you can reach out to the program administrator:
Program Administrator: Brenda Flattum, 651-201-3870, [email protected]