You may live in the Sunshine State, but nothing ruins a sunny day like a huge student loan bill. If you are struggling to pay off your student loans, you may have wondered if you are eligible for student loan forgiveness in Florida.
The answer is yes. It depends on your carrier and location. Here are two of his programs specializing in student loan forgiveness in Florida and his four national options.
According to the Institute for College Access & Success (TICAS), almost half of Florida college graduates have student loan debt.
On average, a state student will leave school with more than $24,000 in student loans as of the 2019-20 school year.
Although Florida’s student loan debt is the eighth lowest in the nation, millions of Floridians still struggle to manage their student loans.
And luckily, Sunshine State offers several student loan forgiveness options.
How Does Florida Student Loan Forgiveness Work in 2023?
Florida-specific nurse and lawyer programs forgive some or all of the borrowers’ qualifying student loan debt.
You must work full-time for a specified period at designated employers in order to qualify.
Both programs offer aid for several years, even though neither will completely wipe out your debt.
Check out: How to Apply for Student Loan Forgiveness in Michigan | Review
Student Loan Forgiveness Programs in Florida
You might be eligible for one of these Florida student loan forgiveness programs if you work as a lawyer or a nurse.
Nursing Student Loan Forgiveness Program (NSLFP)
The NSLFP Loan Forgiveness Program was created in 1989 to encourage nurses to seek employment in underserved areas.
To qualify, you must be a Licensed Practical Nurse (LPN), Registered Nurse (RN), or Advanced Registered Nurse (ARNP).
You must also work in a “designated employment position” in Florida.
These sites are:
- Government-run medical and health facilities
- Public school
- Federally funded community health center
- teaching hospital
- Clinic for children
If eligible, this program pays out loans of up to $4,000 annually for up to four years.
Payments are based on available funds and are paid directly to the lender at the end of each 12-month enrollment period.
The application period is February 1st to March 1st, May 1st to June 1st, August 1st to September 1st, and November 1st to December 1st.
For more information about this program, please contact the Florida Department of Education by calling 800-366-3475 or 850-410-5200 from your Greater Tallahassee area. You can also email OSFAStudentLoans@fldoe.org.
The Florida NSLFP provides up to $4,000 a year for up to four years per enrollee.
If qualified, borrowers might anticipate forgiveness of up to $16,000.
To apply for this program, you must:
- Be a licensed LPN, RN, or ARNP in Florida
- Get Student Loan Used for Nursing Degree
- work full-time at a particular job
NSLFP has rolling enrollment dates and deadlines throughout the year.
For example, the first deadline of each year has an application period from February 1st to March 1st.
The application deadline is March 1st, and the admission date is April 1st. The
next application period is from May 1st. Contact the Florida Department of Education, Office of Student Financial Assistance for program details.
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2. Loan Repayment Assistance Program (LRAP)
If you are an attorney seeking waivers of credit, you can consider the Florida Bar Foundation, which offers waiverable credits to legal aid attorneys.
Important things to know:
- You must be employed full-time or part-time with at least 50% FTE in a Foundation-sponsored civil legal aid organization.
- Applications and supporting materials must be submitted in a timely manner during the annual LRAP application period.
- After being selected as an attendee, you must be admitted to the Florida Bar by the end of your first year and remain a member in good standing thereafter.
- If you are currently participating in LRAP, you must comply fully with the LRAP requirements.
- If she works at least part-time as a legal aid attorney with one of our partner organizations, she can get a $5,000 loan from LRAP to pay off her college debt. Loans are waived annually for qualified candidates. The annual application process begins in October of the previous year. For example, if you applied in 2021, you should start the process in October 2020.
The Florida Bar Foundation runs his LRAP, and in the form of loans, he offers up to $5,000 per person per year.
The recipient must use the funds to pay off the student debt. After that, the loan will be forgiven.
Attorneys who meet the following criteria are eligible to apply for this program:
- Licensed by law to practice law in Florida
- Work for a legitimate civil legal aid organization.
- He spends more than half of his time providing legal services and assistance to clients on behalf of this organization.
- The job will be considered eligible if it meets the required standards.
- However, managing directors, interim managing directors, and employees performing other administrative duties are excluded.
- Public sector attorneys are also not eligible to apply.
The program comes in the form of a loan, so you must remain eligible for the duration.
For example, if you quit your job during the term of the loan (regardless of whether you quit), you may be asked to repay the LRAP loan instead of forgiving it.
Lawyers wishing to receive support for fiscal 2023 will be able to apply in October of the previous year.
For program details, visit the Florida Bar Foundation.
Read also: How is a Student Loan Different from a Scholarship?
Consider These Other Loan Forgiveness Options
The following federal programs are accessible to inhabitants of Florida even if they aren’t particular to the state and might be worth looking into:
- Teacher Loan Forgiveness in Florida
- National Health Service Corps Loan Repayment Program (NHSC)
- Public Service Loan Forgiveness (PSLF)
- Income-driven repayment plans
Public service loan forgiveness PSLF
Perhaps the best-known forgiveness program, the PSLF, offers loan forgiveness to people who have worked in government or non-profit organizations for 10 years.
To apply for this program, you must:
- Have federal loans (if you have multiple loans, consider a direct consolidation loan)
- Join an income-based reimbursement (IDR) plan
- Work in accordance with your employer’s definition of “full-time” (or 30 hours or more per week) for a qualified government agency or non-profit organization.
- Pay 120 months within 15 days of the due date.
- All direct loans are eligible for this program, including direct subsidized and unsubsidized loans, direct PLUS loans, and direct consolidated loans.
Use our Public Service Loan Forgiveness Calculator to see how much this program can save you.
Also, note that his PSLF fate under the Trump administration is unknown.
So, if you’re working towards this, sign up for her PSLF now and stay tuned for the latest news about the program.
Public Service Loan Forgiveness (PSLF) is one of the most popular methods of student loan forgiveness.
It is only available through the Department of Education to federal student loan borrowers currently enrolled in an income-based repayment plan and working full-time with a qualified government employer or non-profit.
To qualify, you must make 120 qualifying monthly payments. The remaining credits are then awarded.
Read also: Alaska Student Loan And Financial Aid Programs | All You Need to Know
teacher loan forgiveness in Florida
The Teacher Loan Forgiveness Program is administered by the Department of Education.
She must teach full-time in a low-income school or institution for five consecutive years.
Qualified teachers must have “advanced qualifications.” You must have a bachelor’s degree and a full state credential.
If you teach high school math, science, or special education, you can get up to $17,500 in loan forgiveness. Other teachers could get her as much as $5,000.
Both Direct Loans and Stafford Loans are eligible.
Search the Teacher Cancellation Low Income (TCLI) Directory to see if your school qualifies.
A teacher who has worked full-time for at least five consecutive years at a qualifying low-income school or institution may be eligible for teacher loan forgiveness from the Department of Education.
Must have at least a bachelor’s degree and state certification. You can’t do that without a certification or license.
National Health Insurance Association Loan Repayment Project
The NHSC LRP is a great opportunity for healthcare workers to be loan forgiven.
This award is up to $50,000 in exchange for his first two years of full-time clinical practice at his HDSC-approved service location facing a severe care shortage.
To apply, you must:
- Become or participate as a provider in Medicare, Medicaid, and state children’s health insurance programs
- Trained and licensed to practice medical, dental, or mental health care in HDSC coverage areas
- You must be a qualified medical professional with qualified student loan debt that helped you obtain a qualified degree
- Qualified reservists are also eligible.
Note that not all beneficiaries receive forgiveness. After applying, you will be ranked based on the importance of your medical need in your chosen location and whether you are from a “disadvantageous background.”
Sign up for the NHSC mailing list to be notified when the next application cycle begins.
NHSC also offers a loan repayment program for drug addicts. This includes those working specifically to combat the opioid crisis in rural areas.
Her senior year in medical or dental school may qualify her for the NHSC Student Services Loan Repayment Program.
Eligible healthcare workers are eligible for loan forgiveness of $50,000 or more through the National Health Service Corps (NHSC) Loan Retirement Program.
She must have worked full-time for at least two years in an NHSC-approved substance use disorder (SUD) facility to be eligible.
Please note that the NHSC offers several different loan forgiveness programs for different workers.
Therefore, if you are not eligible, you may be eligible for forgiveness from other healthcare professionals.
income-driven repayment plans
An IDR plan is the most comprehensive option for federal loan forgiveness.
Available regardless of the carrier of choice and covers most federal loans.
These plans make monthly payments based on your income.
Payments are limited to 10%-20% of discretionary income for 20-25 years, depending on the IDR plan chosen.
After this period, the remaining loan will be forgiven. It may sound obvious, but there are downsides to income-based repayment plans.
Interest will increase as the repayment period is extended. Also, if the loan is forgiven, you will have to pay income tax on the forgiven amount.
If you’re in the Income-Based Repayment Program, see our Income-Based Repayment Calculator to see how much you’ll pay.
There are several other national forgiveness programs that you may qualify for, depending on your career choices and other factors.
See our full list of student loan forgiveness programs for more information.
There are four federal income-based reimbursements (IDR) plans available
- Revised Pay As You Earn (REPAYE)
- Pay as much as you earn (PAYE)
- Income Related Repayment (IBR)
- Income Related Refund (ICR)
In these plans, repayments are based on your disposable income percentage (10% to 20%) and household size.
After 20 or 25 years, depending on the plan, outstanding federal debt will be forgiven.
Your IDR plan should be updated annually to reflect changes in your income or family size (even if they don’t).
You can also do this before your annual authorization so that your credit servicer can recalculate your payment amount.
Not all loans qualify for her IDR plan, so you need to make sure your loan is eligible before you enroll.
Forgiveness of Public Service Loans (PSLF). Join an income-driven repayment (IDR) program. Work at a qualified government or non-profit organization “full-time” according to your employer’s definition (or at least 30 hours per week). Make a total of 120 monthly payments within 15 days of the deadline.
The Public Service Loan Forgiveness Program: What Is It? After 120 payments, the Public Service Loan Forgiveness (PSLF) program will forgive the remaining balance on your federal student loans if you work full-time for the federal, state, municipal, tribal, or military governments, a qualified non-profit organization or all of the above.
Fill out the Nonprofit Private School Eligibility Application form to request certification once you have assessed the school’s eligibility and are confident it satisfies all of the aforementioned requirements.
For every school, a different form is required. By altering the school year on the application, you can submit the necessary data for previous years by using the same procedure as for the current application school year. Every school year requires the completion of new forms.
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