With more than 85 higher education institutions, it’s no wonder why the average student loan debt in Wisconsin is almost $30,000. As far as Wisconsin loan forgiveness programs are concerned (i.e. those specific to this state), there aren’t many options. Regardless, knowing how you could potentially leverage state-sponsored assistance can be helpful. Keep reading to learn more.
What Qualifies You for Student Loan Forgiveness?
There is only one Wisconsin student loan forgiveness program, that’s offered to health professionals (the details of which we’ll discuss later). For the Public Service Loan Forgiveness (PSLF) program – which isn’t state-specific – you need to make 120 monthly payments on a direct loan while working full-time for a qualified employer.
Take a Look at Federal Student Loan Forgiveness Programs
As mentioned earlier, there aren’t many options when it comes to Wisconsin loan forgiveness programs. However, as a resident of Wisconsin, that doesn’t mean that you can’t look beyond your state for assistance. There are many federal student loan forgiveness programs that you could potentially qualify for.
Click here to get the complete list of federal programs: Student loan forgiveness programs.
Wisconsin Student Loan Forgiveness Programs
As of now, the state of Wisconsin only offers the following loan forgiveness program to its residents:
Program: Health Professions Loan Assistance Program
- Amount: Up to $100,000
- Description: The Health Professions Loan Assistance program is meant to provide support to licensed healthcare professionals (physicians, dentists, dental hygienists, psychiatrists, nurses, and midwives), who work at health professional shortage areas (HSPAs) in Wisconsin.
- Requirements: To be eligible for this program, the applicant must have all the necessary certifications, be licensed to practice in Wisconsin, and agree to work full-time at one of the designated HSPAs.
- Program Details: Health Professions Loan Assistance Program