You may qualify for student loan forgiveness programs if you’re a North Carolina resident with student loan debt. These programs are available for public service workers, including lawyers, teachers, mental health professionals, and doctors. Let’s consider five of the student loan forgiveness programs in North Carolina.
Health Care Professionals
Forgivable Education Loans for Service
If you’re a North Carolina resident pursuing a degree in teaching, health, counseling, medical, or nursing, you may be eligible for the Forgivable Education Loans for Service (FELS) program.
The loan is administered by the North Carolina State Education Assistance Authority and provides loan forgiveness of up to $20,000 for an undergraduate degree, $20,000 for a master’s degree, and up to $56,000 for a doctoral degree.
But you must be enrolled for at least six credit hours each semester and be willing to work in a North Carolina-designated critical shortage profession.
Program Details: FELS Forgiveness
North Carolina State Loan Repayment Program
If you’re a mental health provider who offers primary and psychiatric care in rural and underserved areas in North Carolina, you may be eligible for the North Carolina State Loan Repayment Program (SLRP). This program is administered by the North Carolina Office of Rural Health and requires a two-year service commitment. After two years of service, you may be eligible for up to $50,000 of loan forgiveness.
Program Details: NC State Loan Repayment Program for Mental Health Providers
North Carolina Loan Repayment Program
The North Carolina Loan Repayment Program (NC LRP) is available for qualifying healthcare providers who provide primary care services at eligible facilities.
These facilities must serve those with high need and be designated as a Health Professional Shortage Area (HPSA). The North Carolina Office of Rural Health administers the program and requires a four-year service commitment.
You may receive up to $100,000 of loan repayment if you’re a doctor or dentist and up to $60,000 of loan forgiveness if you’re a nurse practitioner, nurse-midwife, physician assistant, psychiatric nurse practitioner, or dental hygienist.
Program: NC State Loan Repayment Program
North Carolina Legal Education Assistance Foundation program
The North Carolina Legal Education Assistance Foundation (NC LEAF) loan repayment program is available for lawyers who work full-time in a qualifying North Carolina public service job.
You must also be in good standing with the North Carolina Bar and have at least $10,000 of student loan debt.
If you meet these requirements, you may receive up to $400 of monthly help to repay your student loans, with a total amount of forgiveness of up to $4,800 yearly.
Program Details: NC Leaf Loan Repayment Program
Loan Repayment Assistance Programs
If you’re a lawyer, you may qualify for the Loan Repayment Assistance Program (LRAP) options in North Carolina. The University of North Carolina offers an LRAP for public service practicing lawyers.
Another common program in many states is the John R. Justice Student Loan Repayment Program. Investigate which programs are open and available in North Carolina.
If you don’t qualify for any of the above North Carolina student loan forgiveness programs, look into federal loan forgiveness programs.
Overall, navigating student loan forgiveness programs can be challenging, but having clear guidance and understanding the eligibility criteria can make a significant difference in managing your student loan debt. Please reach out to your state contact for specific questions or more information.