The
feds may help pay your educational loan debt
As an academic
health professional, you may be eligible for significant debt relief
through a Federal Loan Repayment Program (LRP). The National Institutes
of Health (NIH) and the Health Resources and Services Administration
(HRSA) offer educational loan repayment opportunities to qualified individuals.
The NIH Loan Repayment Programs have a current deadline of November
30, 2002. HRSA offers a Nursing Education Loan Repayment Program with
a November deadline as well.
The NIH LRPs may repay up to $35,000 a year, depending on the individual’s total eligible debt. In return, participants must sign a contract agreeing to conduct qualified research activities for at least 50% effort for a minimum of 2 years. Individuals must qualify for one of the following Programs:
- Clinical Research LRP
- Pediatric Research LRP
- Health Disparities LRP
- LRP for Clinical Researchers from Disadvantaged Backgrounds
Full details about the NIH LRPs are online at www.lrp.nih.gov.
The HRSA Nursing Education Loan Repayment Program (NERLP) has been recently expanded to help address the ongoing nursing shortage. Eligibility requirements include full-time employment at an eligible health facility and an unrestricted license in the State of practice during the term of the NELRP. Interested individuals should read the NERLP web site (www.bhpr.hrsa.gov/nursing/loanrepay.htm) and then make direct contact to with the agency to obtain the most current information.
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