There’s a new student loan repayment program that you should know about. This new program can help students repay their debt at a tune of $75,000. It was created to help fight back against two different epidemics currently ravaging the United States: opioid addiction and student loan debt.
Currently in the United States, 44 million people owe $1.53 trillion in student loan debt. This type of debt is second when it comes to all types of debt. Only mortgage debt is higher than the amount owed on student loans. These numbers only continue to climb as college becomes more expensive.
And while these numbers are bad, the number of people who die due to opioid-related drug overdoses is horrifying. The Department of Health and Human Services says that around 130 people die each day due to opioids. Around 2 million Americans abuse drugs and almost 50,000 have died from an overdose.
Thankfully, a new loan repayment program is helping to fight back against both epidemics.
The Student Loan Repayment Program
The National Health Service Corps is a division of HHS. They created the Student Loan Repayment Program to help fight back against opioid addiction. How does it work? It helps by enticing healthcare professionals to work in the field of substance abuse. And this new program will give up to $75,000 to qualified healthcare participants.
These professionals must work for three years at an approved drug disorder site to qualified for this program. This program is looking to help usher new workers into areas where there are massive shortages. Therefore, there simply aren’t enough healthcare professionals helping to battle against opioid addiction.
Even working part-time in this field can grant you $37,500 in student loan repayment. This is how desperate they are for help. Without medical professionals in this field, the opioid crisis will only deepen over the next few years. The federal government, including the Trump administration, have made battling opioid addiction a top priority in their agenda.
http://financialhelpers.com/trumps-tax-cuts-resulting-in-lower-refunds/
The purpose of the Student Loan Repayment Program is to attract more high-quality doctors and nurses into this field. They want to give specific attention to under-served communities that are being ravaged by drug addiction. Still, these communities are in desperate need for preventative measures, top-notch treatment, and even recovery services.
How to Apply for the Student Loan Repayment Program
Officially called the NHSC Substance Use Disorder Workforce Loan Program, there are several requirements and qualifications.
Here’s a list of the eligible and much-needed healthcare professionals who can apply:
• Physicians
• Pharmacists
• Midwives
• Nurses
• Behavioral Health Professionals
• Substance Abuse Counselors
• PAs
Besides that, there is a deadline for applying for this student loan repayment program. You have until February 21, 2019 at 7:30 PM Eastern.
So, it’s important to note that this program is different than the typical Public Service Loan Forgiveness program. Contact Financial Helpers today for more information.
