Loan Forgiveness

There are various loan forgiveness programs available for students who have borrowed Federal Student Loans. Below is a list of programs Southwestern College graduates can qualify for after graduating and obtaining their professional licenses.

Loan Forgiveness Programs

Public Service Loan Forgiveness

The Public Service Loan Forgiveness program will forgive the remaining balance on your Federal Direct Loans after you have made 120 qualifying monthly payments. To qualify for this program, you must have borrowed under the William D. Ford Federal Direct Loan Program or consolidated your Federal Family Education Loans and Federal Perkins loan into a Direct Consolidated Loan, be on an income-driven repayment plan, and work for a qualifying employer.

Loan Forgiveness and required service commitment: Remaining loan balance after 120 payments and 10 years of service

National Health Service Corps

This program is open to licensed primary care providers in dental, mental, and behavioral health who are employed at an NHSC-approved site. To qualify for this program, you must: be a U.S. Citizen or U.S. National, be in an eligible discipline and primary care specialist, have unpaid federal or state loans, and work at a National Health Service Corps approved service. Two years of service allows the opportunity to receive up to $50,000 in loan repayment. In 2019 the program was expanded to include a Substance Use Disorder Program  to combat the nation’s opioid crisis. The Substance Use Disorder Workforce Loan Repayment Program (SUD Workforce LRP) offers eligible clinicians up to $75,000 in student loan repayment in exchange for a three-year commitment to provide substance use disorder treatment services at NHSC-approved sites.

Loan Forgiveness and required service commitment: $50,000 for an initial two-year service; $up to $75,000 for a three-year service commitment.

Indian Health Service

The Mission of Indian Health Service is to raise the physical, mental, social, and spiritual health of American Indians and Alaskan natives to the highest level. To qualify for this program, you must be a U.S. Citizen, be a licensed health care professional serving the American Indian and Alaskan Native Community.

Loan Forgiveness and required service commitment: $40,000 for an initial two-year service

Allied Health Loan for Service Program and More

This program is specifically for New Mexico residents who plan to practice as a health professional (behavioral health and social services included) in a designated shortage area within the state. For every year of service, a portion of the loan will be forgiven, penalties will be assessed if the service agreement is not satisfied. Students must apply for this program before or during school (before graduation). Refer to http://www.hed.state.nm.us/students/alliedheatlh_lfs.aspx for more information. To see if your state offers a loan forgiveness program go to: https://thecollegeinvestor.com/student-loan-forgiveness-programs-by-state/

Please note some of these agencies require that you hold a license of a Licensed Professional Clinical Counselor (LPCC), a Licensed Marriage and Family Therapist (LMFT) or a Licensed Alcohol and Drug Abuse Counselor (LADAC).