Loan repayment programs refer to initiatives or arrangements that are put in place to help individuals pay back the money they borrowed from a lender. These programs aim to offer financial assistance or incentives to borrowers, making it easier for them to repay the loan within a given timeframe or under specific conditions.
Full definition
Many lenders, however, offer
special loan repayment programs that promise to pay off the balance before term, without imposing much of an added burden on the borrower.
The federal student
loan repayment program permits federal agencies to repay federal student loans as a recruitment or retention incentive for candidates or current employees of that agency.
However,
since loan repayment programs are considerably longer, you can always reduce the monthly payments to installments you will be able to afford easily.
Since becoming a mental health counselor requires a graduate degree, one way states try to gain licensed counselors in high need areas is
through loan repayment programs.
They are launching this employee student
loan repayment program within the retail industry to show their support to both new and current employees.
All three major branches of the military service offer
loan repayment programs for doctors, some of which will pay the entire cost of medical education.
For example, the National Health Service
Corps loan repayment program offers up to $ 50,000 repayment of student loans for a two - year commitment in underserved areas.
The American Veterinary Medical Association released information about the Veterinary
Medicine Loan Repayment Program Enhancement Act (VMLRPEA) which was introduced by Senators Mike Crapo (R - ID) and Debbie Stabenow (D - MI) this month of March.
The New Mexico Health
Professional Loan Repayment Program offers up to $ 25,000 per year for advance practice nurses who work full - time in a medical shortage area for two years.
To gain counselors in high needs areas, some states offer educational loan repayment options through state
loan repayment programs in association with the National Health Service Corps.
To qualify for the Rhode Island
Educational Loan Repayment Program for Primary Care Providers, you must be a licensed physician, nurse practitioner, or physician's assistant.
The Pennsylvania Primary
Care Loan Repayment Program provides an opportunity for those primary care physicians in the state who have medical school debt the opportunity to earn up to one - hundred thousand dollars.
The Faculty
Loan Repayment Program from the Health Resource and Services Administration (HRSA) helps recruit and retain health professions faculty members by encouraging students to pursue faculty roles in their respective health care fields.
§ Agree to enter into a contract agreement with the Wyoming Department of Health that binds him / her to the terms of the Wyoming Healthcare Provider Loan Repayment Program
For Christine Chung, a Korean immigrant who funded her entire higher education with loans, the
NIH Loan Repayment Program made the difference between choosing an academic career and opting for a more lucrative career in private medical practice.
The John R. Justice
Loan Repayment Program provides students up to over eight - thousand dollars a year, maxing out at sixty - thousand to repay their educational burdens.
The Oklahoma
Medical Loan Repayment Program awards a $ 160,000 maximum toward student loans over four years: $ 25,000 for the first year, $ 35,000 for the second, $ 45,000 for the third, and $ 55,000 for the final year.
Another awesome program is the Illinois Veterans Home Nurse Student
Loan Repayment Program which could qualify you for student loan forgiveness if you're caring for Veterans.
The North Dakota
Dental Loan Repayment Program as it is called, offers students up to eighty thousand dollars in additional funds to help repay their loans.
The North Dakota Health Care Professional Student
Loan Repayment Program also provides up to $ 150,000 in student loan repayment assistance for making a five - year commitment to serving in a designated area of need within the state.
This program, known as the Illinois
Teachers Loan Repayment Program provides awards to teachers who provide education to students from lower socioeconomic regions.
Indeed, the judge wrote that the «outcome may well be different in other cases in which the
extended loan repayment programs present a more attractive option, or for other appropriate reasons.»
Up to $ 65,000 of your student loans (doled out yearly) may be forgiven with the
Navy Loan Repayment Program given that you have been in service for at least a year.
In Wyoming, administrators are expanding the number of instructors eligible to teach college courses through an adjunct professor
loan repayment program administered by the Wyoming Community College Commission.