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Physicians working in a Health Professional Shortage Area (HPSA), correctional facility or with low-income patients can apply for this forgiveness program. You don’t have to reapply each year, but you’ll have to commit to four years of service to qualify.
You can get up to $160,000 forgiven through this four-year program. Here’s how it breaks down:
Any loan issued while in school that was used to pay for the cost of an undergraduate, graduate or medical degree — residency relocation loans aren’t eligible.
To qualify for the Physician Education Loan Repayment Program, you need to meet the following criteria:
This repayment assistance program is meant to provide an incentive for teachers to work in short-handed communities or subjects. Applications are currently restricted to teachers who have previously received repayment assistance through the program. However, it might open up to new teachers in the future.
To qualify for this program, you need be a certified teacher in one of the following:
You also need to have worked in the qualifying field or community for at least a year at a public preschool, elementary, middle or high school in Texas.
This program is meant to provide an incentive for teachers with a background in math or science to teach in those fields. You must commit to eight years of teaching in the subject to qualify — and if you leave, you might have to pay back part of the funds.
To qualify for this program, you need to meet the following criteria:
Mental health professionals who work in a Mental Health Professional Shortage Area (MHPSA) or the state prison system can apply for this program. You’re required to pledge to work with patients who receive state medical assistance for five years if you’re accepted.
The total amount of forgiveness you can qualify for depends on your field:
How much you get forgiven also increases each year you enroll in the program:
Any student loan used to pay for an undergraduate, graduate or professional educational degree. Loans taken out after graduation aren’t eligible — such as residency relocation loans.
To qualify for this program, you need to meet the following criteria:
If you’re a psychiatrist, you also need to be eligible for the board certification exam during the first, second or third year of the program if you haven’t already taken it.
This program is meant to encourage practicing nurses to go into teaching — at least for up to five years. You need to have a graduate-level nursing degree, experience working as a professional nurse and already be working as a nursing professor to apply.
To qualify for this forgiveness program, you need to meet the following criteria:
The SLRAP is meant to make it affordable for lawyers with large student debt loads to take low-paying jobs at legal aid organizations. There’s no longer a cap on how much you earn, and you can reapply for more forgiveness each year you’re eligible.
To qualify, you must work full time at one of the following:
There are several other options that can help you reduce your student debt load, including:
The statute of limitation on debt in Texas is four years. This means your lender or servicer can’t sue you for delinquent student loans after that period is up. However, this only applies to private student loans — federal and state-issued loans are exempt.
Texas teachers and healthcare professionals might want to look closely at their state student loan forgiveness options. Otherwise, you might not be able to qualify.
Want to learn more about how it all works? Check out our guide to student loans.
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