Many borrowers are turning to state-level relief programs due to the uncertainty surrounding federal student loan forgiveness. These programs offer a valuable alternative, especially for those in specific professions. Understanding how to get your student debt forgiven under a state program can be a game-changer for managing your educational debt.
State-Level Student Debt Forgiveness Programs
State forgiveness programs are often occupation-based, meaning they provide relief for professionals in specific fields. For instance, healthcare workers, teachers, and public defenders are frequently eligible. Betsy Mayotte, president of The Institute of Student Loan Advisors, highlights that “most states have [a program], especially if you’re in health care.”
For example, Minnesota offers up to $12,000 in student debt relief for registered nurses working at nonprofit or public hospitals. Similarly, licensed mental health professionals in California may be eligible for up to $15,000 in assistance.
Why Explore State Programs?
Due to ongoing legal challenges, the federal government’s ability to forgive student loans is in jeopardy. In contrast, state programs are more stable and may offer forgiveness for private student loans, which are excluded from federal relief programs. A higher education expert, Mark Kantrowitz, advises borrowers to “look for forgiveness based on their job, especially for their state.”
Additionally, some states offer forgiveness based on financial need rather than occupation. New York’s Get On Your Feet Loan Forgiveness Program, for example, allows certain residents to receive loan forgiveness for up to 24 months of payments, provided they meet specific income requirements .
Conclusion
Given the uncertainty at the federal level, exploring how to get your student debt forgiven under a state program is a smart move. Whether you’re in healthcare, education, or another qualifying profession, state programs offer a potentially generous way to reduce your debt burden. Make sure to explore your options based on your occupation and location to take full advantage of these opportunities.
References:
New York State Higher Education Services Corporation
The Institute of Student Loan Advisors
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