5 Careers That Grant Student Loan Forgiveness and Save Your Money

It is difficult to feel like a flourishing doctor when most of your paycheck goes to your student loan repayment. The majority of loan forgiveness programs for doctors require you to be employed in a Health Profession Shortage Areas or a Medically Underserved Area.

The loan forgiveness here isn’t based on what kind of work you do, but rather who you work for. Employees that qualify include:

• Full-time positions at AmeriCorps and Peace Corps.
• Any level of government organizations (federal, state, local, or tribal).
• Non-profit organizations that are tax-exempt under Section 501(c)(3).

Teachers can qualify for the Federal Teacher Cancellation for Perkins Loans where 15% of your loan can be canceled if you have already been teaching for one year at least in what is considered a low-income area. If you teach for 5 years, your whole loan is forgiven.

As a dentist, you can also qualify for loan forgiveness on the national level.

National programs include military service. The Army offers the ADHPLRP (Active Duty Health Profession Loan Repayment Program) and HPLR (Healthcare Professionals Loan Repayment Program). The Airforce offers ADHPLRP (Air Force Active Duty Health Professions Repayment Program). All of these programs provide up to $50,000 in debt repayment annually.

Many possible lawyers usually take on huge amounts of debt to turn their career dream into a reality. Thankfully, there are some student loan forgiveness programs available only to lawyers.

For lawyers that work in the public sector, the John R. Justice Student Loan Repayment Program offers $10,000 – $60,000 in loan forgiveness.