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Faculty Loan Repayment Program (FLRP)

Who It’s For: Faculty members at health professions schools who come from a disadvantaged background. An employment commitment of at least two years is required for all FLRP applicants.

How to Apply: There is a link to the online application at the FLRP website. If the currently-listed deadline is passed, check back later to see the next application deadline.

What Loans Qualify: Most federal, state, or private loans will qualify, although loans that were taken out on the behalf of another (such as federal Parent PLUS loans) or loans that are already subject to cancellation will not qualify.

How Much?: Up to $40,000 for 2 years of service.

Anything Else I Should Know?:  Most forms of loan forgiveness count as taxable income (since you are essentially receiving money that is automatically applied to the loan), and this is no exception. That said, FLRP recipients can also receive additional funding to cover the expected tax burden from the forgiveness.