7 Primary Care Loan Forgiveness Programs to Get Out of Debt Faster

Health providers, like physicians, physician assistants, and nurse practitioners, all fall under the umbrella of primary care providers who play an important role as a patient’s first point of contact for care. But becoming a health care professional can be a significant investment in both time in medical school and residency training, as well as financial resources. 

The result is often six figures of student loan debt, despite a high salary. To help make debt repayment easier, we’ve found the best loan repayment programs and primary care loan forgiveness options. 

Federal loan forgiveness for primary care providers

If you’re looking for primary care loan forgiveness options and have federal loans, there are a couple of options to consider. Each provides student loan forgiveness but with very different terms and timelines. 

1. Public Service Loan Forgiveness (PSLF) 

Primary care physicians with federal student loans who work for a qualifying government or non-profit organization, such as a hospital or clinic, might be eligible for Public Service Loan Forgiveness (PSLF). 

Under this loan forgiveness program, your Direct Loans can be wiped away after completing 10 years of service while making 120 monthly payments. Eligible student loan borrowers need to work full-time at a qualifying employer and also enroll in one of the four income-driven repayment (IDR) plans. 

More changes are coming with PSLF starting on July 1, 2023, which might include counting previous payments that didn’t qualify for forgiveness under conventional rules. Another important note is that California and Texas physicians who didn’t qualify before might now be eligible, according to the California Medical Association (CMA). 

To get started, fill out the PSLF employment certification form and use the Department of Education’s PSLF Help Tool. 

2. Income-driven repayment forgiveness 

PSLF is attractive as it allows forgiveness options after a decade, but its employment requirements are restrictive. If you don’t meet its specific requirements, but have federal loans, you might still qualify for forgiveness through income-driven repayment. 

There are a total of four student loan income-driven repayment options. The IDR plans are:

• Income-Based Repayment (IBR)
• Income-Contingent Repayment (ICR)
• Pay As You Earn (PAYE)
• Revised Pay As You Earn (REPAYE) – there’s also a proposed reform calling for a new REPAYE option that isn’t confirmed yet.

Given its name, IDR plans reduce your payment to just 10% to 20% of your discretionary income. If you continue to make payments for the entire IDR plan term of 20 or 25 years — which varies by plan — the remaining balance is discharged. 

This is a great way to get primary care loan forgiveness for your federal loans, even if you don’t qualify for PSLF. To get started, discuss IDR plans with your loan servicer. 

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National and state student loan relief for primary care providers

Aside from the federal loan programs above, you can also look into other national loan forgiveness programs as well as ones in your state. Be aware that many of these programs come with employment and service requirements in a specific location to qualify. 

3. The National Health Service Corps Loan Repayment Program 

Forgiveness amount: Up to $50,000 
Years of service: 2 years 

If you’re looking for primary care loan forgiveness, the National Health Service Corps (NHSC) loan repayment program is a good start. 

Primary care physicians, physician assistants and nurse practitioners qualify. Specialties that are eligible include family medicine, pediatrics, women’s health and geriatrics. 

If you work at an NHSC-approved site full-time for two years you can qualify for loan repayment assistance up to $50,000. Half-time participants are eligible for up to $25,000. Also, while not geared toward current primary care providers, medical students can look into the NHSC Students to Service Loan Repayment Program for financial support. 

4. Indian Health Service Loan Repayment Program 

Forgiveness amount: Up to $50,000 
Years of service: 2 years 

Physicians, nurse practitioners, and other health care professionals might qualify for loan repayment assistance through the Indian Health Service Loan Repayment Program. 

If you commit to serving the American Indian and Alaska Native population for two years, you may qualify for up to $50,000. You must be a U.S. citizen and have a valid practice license. 

5. Health Professionals Loan Repayment Program for the Military 

Forgiveness amount: Up to $40,000 per year with 25% taxes taken out 
Years of service: Up to 3 years 

Health professionals can receive up to $40,000 per year in student loan repayment assistance,  25% of which is withheld for purposes. By serving in the military, eligible medical care providers can get help repaying their student loans through the Health Professional Loan Repayment Program. You must work in the armed forces, and your profession must be in-demand during times of need.

6. California State Loan Repayment Program 

Forgiveness amount: Up to $50,000 
Years of service: 2 years 

In a high-cost-of-living state like California, you can get student loan debt help with the California State Loan Repayment Program. It’s geared toward primary care physicians, physician assistants, nurse practitioners, dentists and more. To qualify, you must work in a designated state Health Professional Shortage Area (HPSA). 

You must serve for two years either in a full- or part-time capacity. Those who work full-time can get up to $50,000 in loan repayment assistance. Part-time physicians can get half that amount at $25,000. You might qualify for even more loan assistance if you extend your service obligation. 

7. Colorado Health Service Corps 

Forgiveness amount: $120,000 
Years of service: 3 years 

The Colorado Health Service Corps has one of the most generous programs for primary care loan forgiveness. The program offers full-time physicians up to $120,000 in awards to help tackle student loan debt. You must work in a designated shortage area in the state, and serve for three years. 

To find primary care loan forgiveness options in your state, visit the Association of American Medical Colleges (AAMC) loan forgiveness and assistance directory.

Review loan eligibility 

Before applying for any student loan forgiveness programs look at the loan eligibility requirements. Some might only accept federal educational loans and not private student loans. Loan forgiveness programs from the U.S. Department of Education, like PSLF, is an example of this restriction. Additionally, certain programs don’t allow federal Parent PLUS Loans. 

Check each program’s requirements to ensure your loans qualify, and consider the tradeoff in years of service and what you’ll get out of it. 

How loan forgiveness impacts a primary care provider's career and finances

Getting primary care loan forgiveness can help you pay less in interest overall and shorten your student loan repayment period. This is especially helpful if you have a higher interest rate on your loans. 

The freed-up money can go toward other life goals, instead of being used for loan repayment. Many of these primary care loan forgiveness programs have service obligations in underserved areas, but relocating might be worth it depending on your student debt situation.  Similarly, weigh the pros and cons of a program that requires you to work in the public vs. private sector in terms of your future income.

If you need help with your student loan plan, book a consultation with Student Loan Planner. We tailor a repayment plan that fits your current financial situation and long-term goals.