The " Student Loan Forgiveness for Frontline Health Workers Act," introduced by New York Rep. Carolyn B. Maloney on Tuesday, would create a program that forgives … The Student Debt Forgiveness for Frontline Health Care Workers Act, cosigned by nine other House Democrats, advocates for the creation of a federal and private loan forgiveness program. CNN's Katie Lobosco contributed to this report. Rep. Carolyn Maloney (D-NY-12) introduced this legislation on May 5, … ", She continued, "Health care workers are worrying about their own health and how it will affect their families. As a healthcare worker, you have dedicated years to higher education so that you could dedicate your life to helping others. To qualify for forgiveness, I must be employed full-time by a qualifying employer when I apply for and get forgiveness. Actions Overview (1) Find out if you’re eligible for healthcare worker loan forgiveness with a no-obligation consultation. "Physicians and medical residents play a critical role on the front line of the COVID-19 national emergency," Matthew Shick, senior director of Government Relations & Regulatory Affairs at the AAMC, told CNN in a statement Wednesday. If you’re a healthcare worker who is struggling with student debt, you have options for a happier, more financially secure future. Student debt forgiveness programs may offer relief, but the application process can be daunting and confusing. The Student Debt Forgiveness for Frontline Workers Act, sponsored by Rep. Carolyn Maloney (D-N.Y.), aims to alleviate the … That is a burden that we can lift right now. Social workers looking for ways to reduce their student loan debt should investigate the Public Service Loan Forgiveness (PSLF) program. Every night at 7, medical workers take a break as the community shows their appreciation. (646) 766-1330, National Student Debt Forgiveness Center - Copyright © 2021, LET US SIMPLIFY THE LOAN FORGIVENESS PROCESS. Like many others in this field, you may be struggling to pay back student loans. If healthcare professionals choose to work in rural, tribal, and other underserved areas, they may be eligible for loan repayment assistance and/or loan forgiveness through several federal programs. “Immediate $10,000 forgiveness of student loans, helping people up there in real trouble," Biden said in November. Another state-specific student loan forgiveness for social workers is the Minnesota Health Care Loan Forgiveness. Minnesota Health Care Loan Forgiveness. Applying for loan forgiveness can feel almost as overwhelming as the loan itself. Some states even help debt-saddled graduates pay off their loans. They should not have to worry about their financial security after the crisis has passed. Known as the Student Loan Forgiveness for Frontline Health Workers Act, the bill would forgive both the outstanding interest and principal on federal and private student loans owed by eligible frontline healthcare workers. New York is setting a precedent as one of the few states proposing student loan forgiveness for frontline healthcare workers. Official Titles - House of Representatives Official Title as Introduced To provide student loan forgiveness to health care workers who are on the front line in response to COVID-19. The amount of the loan forgiveness includes the interest that has accrued during the year and is set at 15 percent during each of the first two years of service, 20 percent per year during the third and fourth years and 30 percent during the fifth year. "In addition to the regular risks of providing medical care, many doctors are taking on unexpected new roles to address the pandemic -- some voluntarily traveling across the county to help in hot spots. 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