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Loan Forgiveness

Tuition Remission

A variety of organizations offer some form of tuition remission or assistance to its employees seeking to further their educations. It is advisable to look into your place of employment to see if this is a possibility.

New York State provides tuition remission (up to $26,000) for qualified MSW graduates working in critical human service areas. The NYS Licensed Social Worker Loan Forgiveness Program is dedicated to increasing the number of licensed social workers in high-need areas, including health, mental health, substance abuse, aging, HIV/AIDS, and child welfare or working in communities with multilingual needs. For more information, please refer to the NYS Higher Education Services Corporation.

NYS Licensed Social Worker Loan Forgiveness

New York State Higher Education Services Corporation

What is Does
  • Offers loan forgiveness to licensed social workers working in critical human service areas in the fields of health, mental health, substance abuse, aging, HIV/AIDS and child welfare, or communities with multilingual needs.
  • The maximum award under this program will be $26,000 or the applicant’s eligible student loan indebtedness at the time they apply, whichever is less. Awards will be paid in annual disbursements for each period of qualified service.
Eligibility
  • Be legal residents of NY State for at least 1 year.
  • Be US citizens or eligible non-citizens.
  • Be a licensed social worker in NY State.
  • Have at least 1 year of qualified service.
How to Apply
  • Recipients must submit a payment application and verification of the qualified service for which they seek payment.
  • Applications will be available in January 2013.

Income Based Repayment (IBR)

Individual Lenders

What it Does
  • Payments are capped at 15% of monthly discretionary income. After 25 years of reduced payments, the remaining balance on the loan is forgiven.
Eligibility
  • IBRInfo’s calculator can help determine eligibility, although those who owe more money than they make will definitely qualify. 
  • Visit ibrinfo.org/calculator.php
How to Apply

National Health Service Corps

U.S. Department of Health and Human Services

What it Does
  • Offers fully trained, Licensed Clinical Social Workers (LCSWs) $50,000 to repay student loans in exchange for 2 years serving in a community-based site.
Eligibility
  • Be US citizen.
  • Be licensed LCSW in state of practice.
  • Employed by a NHSC-approved facility or in a Health Professional Shortage Area that is applying to become a NHSC approved site.
How to Apply

Public Service Loan Program

U.S. Department of Education

What it Does
  • Offers loan forgiveness to borrowers working in approved public service jobs.
Eligibility
  • Graduates working full-time in a public service job including: social work in a public child or family service agency, public service for the elderly, public service for individuals with disabilities, or employment in a 501(c)(3) organization. After 120 monthly payments have been made, and if the graduate has worked in public service during those payments and at the time of loan cancellation, 100% of the remaining balance will be forgiven. Only loans received under the William D. Ford Federal Direct Loan Program are eligible. On January 31st, 2012, the Department released an Employment Certification Package to help borrowers track their progress toward qualifying for PSLF.
How to Apply
  • There is no application process yet since the soonest any borrower would obtain forgiveness is 2017. It is recommended that you track your progress using the PSLF materials.

Higher Education Reauthorization And Opportunity Act - 2008

U.S. Department of Education

What it Does
  • Enables eligible participants to receive up to $2000 per year of service, up to a maximum of $10,000 over a 5-year period.
Eligibility
  • Eligible borrowers must not be in default on the loan for which they are asking loan forgiveness.
  • You must be employed full-time in an occupational area of “national need” such as child welfare workers or public sector employees.
How to Apply
  • No application. Call (800) 433-3243 (US Dept. of Education) to find out how to proceed.

NIH Loan Repayment

What it Does
  • Enables eligible participants to receive up to $2000 per year of service, up to a maximum of $10,000 over a 5-year
Eligibility
  • Eligible borrowers must not be in default on the loan for which they are asking loan forgiveness.
  • You must be employed full-time in an occupational area of “national need” such as child welfare workers or public sector employees.
How to Apply
  • No application. Call (800) 433-3243 (US Dept. of Education) to find out how to proceed.


Loan Forgiveness

Several student debt and loan forgiveness programs are available for social workers. Learn more (PDF).

Loan Forgiveness