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Many dentists carry near $500,000 of dental student loan debt. Luckily, there are a lot of reimbursement methods accessible to dentists, together with dental mortgage reimbursement packages that apply to each federal and personal loans.
States with dental mortgage reimbursement packages
Many states provide mortgage reimbursement choices for dentists who serve in susceptible communities, usually outlined as a federally designated dental Well being Skilled Scarcity Space (HPSA). On the whole, these packages require a one- to three-year service dedication with a view to obtain dental scholar mortgage forgiveness program advantages.
Word that state packages change incessantly. It’s greatest to search for your state’s program to find out annual eligibility necessities and funding availability.
Alaska
Award Quantity: Is determined by place (e.g. “regular-fill” vs “very hard-to-fill”)
Alaska provides two loan assistance programs that embrace dental professionals: SHARP-1 and SHARP-3.
- SHARP-1 service contracts are for a two-year dedication with an HPSA.
- SHARP-3 individuals should full a three-year minimal preliminary contract in an HPSA or rural space. There’s a 12-year lifetime most for this program.
Mortgage reimbursement and direct incentive funds range by program, place sort and designated tier. Word that dentists are thought-about Tier 1, and due to this fact, earn the very best incentive accessible.
Arizona
Award Quantity: As much as $140,000 or extra
The Arizona State Loan Repayment Programs (SLRP) award quantities range based mostly on HPSA rating, however certified dentists can earn as much as:
- $65,000 for preliminary two-year contract
- $35,000 for third 12 months
- $25,000 for fourth 12 months of service
- $15,000 for fifth 12 months and persevering with years
Word that there are two Arizona SLRP packages up for grabs: the Major Care Supplier Mortgage Compensation Program and the Rural Non-public Major Care Supplier Mortgage Compensation Program.
California
Award Quantity: As much as $110,000
The California State Loan Repayment Program is out there to dentists training in an HPSA with a two-year service obligation. Service awards embrace:
- $50,000 for preliminary contract
- $20,000 for first- and second-year extensions
- $10,000 for third- and fourth-year extensions
Every award is a dollar-for-dollar match from the follow web site, so awards might range.
Colorado
Award Quantity: $105,000
Colorado dentists working in an HPSA could also be eligible for the Colorado Health Services Corps program. A 3-year service dedication is required in alternate for $105,000 mortgage reimbursement help.
Alternatively, chances are you’ll qualify for the State Dental Loan Repayment Program by agreeing to offer dental companies to underserved sufferers for 2 years. The award is predicated on the variety of qualifying sufferers seen every month: $50,000 for 80+ sufferers, $37,500 for 60 to 79 sufferers, $25,000 for 20 to 59 sufferers.
Delaware
Award Quantity: As much as $200,000
The Delaware State Loan Repayment Program is out there to dentists who conform to deal with a minimal of 20% of sufferers made up of Medicaid, S-CHIP and low-income people at decreased (or free) charges.
A two-year service dedication in an HPSA is required in alternate for as much as $100,000 in mortgage reimbursement. Persevering with contracts earn $50,000 every for years three and 4.
Georgia
Award Quantity: As much as $100,000
The Dentists for Rural Areas Assistance Program (DRAA) is an choice for dentists who present affected person care in medically underserved, rural areas of Georgia.
A one-year service dedication is required, with the choice to resume for an extra three years. Every year will yield $25,000 in mortgage reimbursement with a lifetime most of $100,000.
Idaho
Award Quantity: As much as $50,000
Idaho dentists could also be eligible for the Idaho State Loan Repayment Program which offers $10,000 to $25,000 per 12 months, relying on the employer’s contribution match.
A two-year service obligation is required in an HPSA.
Illinois
Award Quantity: As much as $50,000
The Illinois SLRP requires a two-year service dedication in an HPSA in alternate for as much as $25,000 per 12 months (relying on web site contribution match) in mortgage forgiveness.
Third- and fourth-year extensions can be found, however there’s a most reimbursement quantity of $50,000.
Indiana
Award Quantity: As much as $40,000
Common follow dentists might qualify for the Indiana State Loan Repayment Program by agreeing to work in a public or nonprofit setting in an HPSA. Service awards embrace:
- $20,000 for preliminary two-year obligation
- $20,000 for two-year extension
Indiana SLRP goals to award 30 contracts every year. Nevertheless, this objective contains all qualifying professions.
Kansas
Award Quantity: As much as $95,000
Kansas SLRP participants could also be eligible for as much as $95,000 in scholar mortgage reimbursement by agreeing to full-time service in an HPSA within the state. Service awards embrace:
- $25,000 per 12 months for preliminary two-year obligation
- $20,000 for third 12 months extension
- $15,000 for fourth 12 months
- $10,000 for fifth 12 months
Word that there are completely different qualifying hours (e.g. direct affected person care) for basic dentists versus pediatric dentists.
Kentucky
Award Quantity: As much as $80,000
The Kentucky SLRP recruits dentists to work in rural and underserved amenities by offering two-year service obligations in alternate for as much as $80,000 in scholar debt reimbursement.
Louisiana
Award Quantity: As much as $114,000
The Louisiana State Loan Repayment Program permits for dentists to obtain as much as $30,000 yearly in mortgage reimbursement in alternate for a three-year dedication in an HPSA. A two-year extension could also be accessible for an extra $12,000 yearly.
Maine
Award Quantity: $100,000
Dentists training in underserved areas of Maine might qualify for the Maine Dental Education Loan Repayment Program. New recipients will obtain $25,000 in mortgage reimbursement per 12 months with an preliminary two-year contract, with the chance to resume for an extra two years for a most of $100,000.
Qualifying dental amenities should settle for fee by means of MaineCare and 25% of the affected person inhabitants should be handled no matter means to pay.
Maryland
Award Quantity: As much as $71,220
The Maryland Dent-Care Loan Assistance Repayment Program (MDC-LARP) permits dentists to obtain as much as $23,740 per 12 months in mortgage reimbursement, with a most of three years of service.
You have to agree to make sure at the very least 30% of your affected person inhabitants is Maryland Medical Help Program (MMAP) recipients.
Massachusetts
Award Quantity: As much as $100,000
Massachusetts SLRP participants should conform to an preliminary two-year service obligation in a federally designated HPSA in alternate for $25,000 per 12 months of scholar debt reimbursement.
Word that there’s a lifetime most of $100,000.
Michigan
Award Quantity: As much as $200,000
Michigan dental suppliers might qualify to have as much as $200,000 of scholar debt repaid over an eight-year interval with an HPSA-eligible web site.
Every Michigan LRP contract is for a two-year interval with 40- to 45-hour weeks. Word that “on name” hours don’t rely towards the full-time requirement.
Minnesota
Award Quantity: As much as $20,000 per 12 months
The Minnesota State Loan Repayment Program requires a two-year service dedication in nonprofit or public websites positioned in an HPSA.
Full-time suppliers are eligible for as much as $20,000 in mortgage reimbursement yearly, whereas half-time suppliers (minimal of 20 hours per week) qualify for as much as $10,000 per 12 months.
Missouri
Award Quantity: As much as $50,000 per 12 months
Missouri’s Health Professional Student Loan Repayment Program awards as much as $50,000 per 12 months in mortgage reimbursement to eligible dentists. Nevertheless, you should be a Missouri resident and keen to decide to an preliminary two-year service obligation in an HPSA.
Montana
Award Quantity: As much as $60,000
The Montana Student Loan Repayment Program awards dentists as much as $15,000 per 12 months with an preliminary two-year contract at a Nationwide Well being Service Corps (NHSC) web site in an HPSA.
Relying in your scholar debt quantity and funding availability, you would possibly qualify for 2 one-year extensions.
Nebraska
Award Quantity: As much as $180,000 to $200,000
Practicing dentists in Nebraska might qualify for considered one of its two scholar mortgage reimbursement packages. Every qualifying dental specialty (e.g. basic dentistry, pediatric and oral surgical procedure) has a handy map to discover eligible websites.
Relying on the reimbursement program, contract durations vary from two to 4 years with most forgiveness of $180,000 to $200,000 for dentists.
Nevada
Award Quantity: Primarily based upon funding every cycle
The Nevada Health Service Corps typically presents two-year service obligations to dentists working in underrepresented communities.
New Hampshire
Award Quantity: As much as $75,000
The Private Practice Dentists State Loan Repayment Program (SLRP-PPD) is out there to New Hampshire personal follow dentists. You have to conform to serve a minimal of 15% of Medicaid sufferers and decide to a three-year service obligation.
New Mexico
Award Quantity: As much as $25,000 per 12 months
The New Mexico Health Professional Loan Repayment Program (HPLRP) presents two-year dental service obligations in a delegated medical scarcity space. Word you should be a New Mexico resident for the previous 12 months to qualify.
North Carolina
Award Quantity: As much as $100,000
The North Carolina Loan Repayment Program (NC LRP) presents as much as $100,000 in alternate for as much as a four-year dental service dedication in rural and underserved communities. In addition they provide a excessive wants service bonus (HNSB) for many who don’t have remaining scholar debt, however this direct fee incentive is capped at $50,000.
North Dakota
Award Quantity: As much as $100,000
The North Dakota Loan Repayment Program is out there to dentists keen to offer companies for as much as 5 years in a dental HPSA, a public well being or nonprofit clinic, or in an recognized space the place specialty companies are wanted.
Funds are made on the completion of every 12-month interval, with a most reimbursement of $100,000.
Ohio
Award Quantity: As much as $120,000
The Ohio Dentist Loan Repayment Program offers as much as $120,000 in mortgage reimbursement for dentists who follow in an HPSA, deal with Medicaid sufferers and supply care to sufferers no matter means to pay. Service awards embrace:
- $25,000 per 12 months for the preliminary two-year contract
- $35,000 for a 3rd 12 months
- $35,000 for a fourth 12 months
Half-time individuals (20 to 39 hours per week) obtain as much as half the quantity of reimbursement.
Oklahoma
Award Quantity: As much as $125,000
The Oklahoma Dental Loan Repayment Program (ODLRP) is accessible for as much as 25 Oklahoma licensed dentists for as much as 5 years per participant. Nevertheless, you need to have graduated from dental college previously 5 years to qualify.
Eligible dentists obtain $25,000 per 12 months in reimbursement in alternate for working in a delegated scarcity space and guaranteeing at the very least 30% of sufferers are Medicaid recipients.
Oregon
Award Quantity: As much as $100,000
With a two-year service dedication, dentists can earn as much as $35,000 of mortgage reimbursement by means of the Oregon Partnership SLRP. Further service extension awards are calculated as as much as 60% of the supplier’s remaining scholar debt ($35,000 most).
Word that there’s a $100,000 lifetime most.
Pennsylvania
Award Quantity: As much as $80,000
Common dentists might qualify for the Pennsylvania Primary Care Loan Repayment Program (LRP). You have to conform to work in an HPSA or serve a minimal of 30% of low-income sufferers at an LRP-approved web site for 2 years.
South Carolina
Award Quantity: As much as $75,000
South Carolina dental professionals might qualify for the state’s Rural Dentist Program by agreeing to follow in an HPSA for 4 years. Suppliers should deal with at the very least 100 Medicaid sufferers every year.
Service awards as much as $75,000 are paid out quarterly.
South Dakota
Award Quantity: $248,098
The South Dakota Rural Assistance Program (RAP) is out there to dentists keen to serve in a rural neighborhood with lower than 10,000 residents and at the very least 20 miles exterior of a metropolis with greater than 50,000 folks.
Dentists will obtain a fee incentive of $248,098. Nevertheless, this program is extraordinarily restricted. The web site lists there is just one slot accessible for every qualifying career.
Tennessee
Award Quantity: As much as $50,000 for preliminary contract + as much as $20,000 for renewal extension
The Tennessee State Loan Repayment Program requires a two-year dental service obligation in an HPSA in alternate for as much as $50,000. You possibly can reapply for as much as $20,000 per 12 months till your scholar debt is paid off (contingent upon funding).
Vermont
Award Quantity: As much as $40,000 per 12 months (six-year most)
The Vermont Educational Loan Repayment Program for Dentists offers as much as $40,000 (relying on employer or neighborhood match) per 12 months for serving in an HPSA.
Some service contracts are restricted to 1 12 months, whereas retention award recipients might require as much as two years. Reapplication is required with a most of six years’ value of mortgage reimbursement.
Virginia
Award Quantity: As much as $140,000
The Virginia Student Loan Repayment Program is out there to dentists in a delegated HPSA with a minimal two-year dedication. Service awards embrace:
- As much as $100,000 for preliminary obligation
- As much as $40,000 for third 12 months
- Most of $40,000 for fourth 12 months
Word that funding is a dollar-for-dollar match depending on the follow web site contribution. The lifetime most from all funding sources is $140,000.
Washington
Award Quantity: As much as $75,000
Dental professionals in Washington would possibly qualify for the State Health Program (SHP) with a minimal three-year service obligation in an HPSA, nonprofit or a preapproved web site with a sliding payment schedule.
Word there may be additionally a separate Federal Well being Program (FHP) that enables for as much as $70,000 in mortgage reimbursement in alternate for a two-year dedication in an HPSA.
West Virginia
Award Quantity: As much as $90,000
The West Virginia State Loan Repayment Program is out there to dentists serving in an HPSA with a two-year dedication. Service awards embrace:
- $40,000 for preliminary obligation
- $25,000 for one-year extension
- $25,000 for extra one-year extension
Functions are open from March 1 by means of April 30 every year.
Wisconsin
Award Quantity: As much as $100,000
Dentists have entry to two Wisconsin loan assistance programs: The Well being Professions Mortgage Assistant Program (HPLAP) and the Rural Supplier Mortgage Help Program.
- HPLAP recipients should conform to work for 3 years in an HPSA neighborhood.
- The Rural Supplier Mortgage Help Program permits for an extra award for many who work in a rural space (inhabitants lower than 20,000 and at the very least 15 miles from any metropolis), no matter whether or not it’s in an HSPA.
Every program permits for as much as $50,000 in reimbursement help. As of January 2021, you’re restricted to 2 lifetime awards.
Different mortgage reimbursement choices for dentists
Though some state dental mortgage reimbursement packages are very beneficiant, most have restricted funding alternatives which might make it a aggressive course of. Moreover, you danger breaching the phrases of your contract in case you fail to start or full your service obligation for any cause. This might imply repaying a big chunk of cash for any unfulfilled service interval or incurring different monetary penalties.
Many of those state mortgage reimbursement packages additionally require that you just’re not contracted beneath every other current service dedication. So, you might be lacking out on a extra useful dental scholar mortgage forgiveness program.
Other than state dental mortgage reimbursement packages, you should definitely additionally explore dental school loan forgiveness and repayment options like:
- National Health Service Corps Mortgage Compensation Program
- Nationwide Institute of Well being Mortgage Compensation Program
- VA Schooling Debt Discount Program
- Indian Well being Service Mortgage Compensation Program
- Public Service Mortgage Forgiveness (PSLF)
- Revenue-driven reimbursement packages
It’s essential to discover all your choices earlier than committing to dental mortgage reimbursement packages — particularly in case you plan on shifting or rearranging your total life to entry mortgage reimbursement help.
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