The bill would create a federal loan deferment and forgiveness program for certain mental health providers. Eligible participants must work full-time for at least five years in a mental health professional shortage area, either as a solo provider or at an institution serving patients in such an area. After five consecutive years of qualifying work, the program would repay eligible loan principal and interest outstanding at the start of service, up to $200,000. The borrower must not be in default on the loan being forgiven.
Eligible individuals must be enrolled or accepted at a qualifying minority-serving institution in a mental or behavioral health program, or completing supervised clinical training toward a related degree or certificate. They must have accepted qualifying employment to begin after graduation. Eligible providers include several mental health professions, such as psychiatrists, psychologists, social workers, counselors, and certain nurses and physician assistants.
If you meet the education, employment, and provider requirements, the program could pause required principal installments while you work in a qualifying position. Interest would still accrue and must be paid during that time. Loan forgiveness would require five consecutive years of qualifying employment and would not cover more than $200,000 of eligible debt.
The bill does not state the program’s total cost. Participants would still owe interest during the service period. The Secretary would arrange repayment of eligible loan balances after the required service, subject to the $200,000 limit.
No publicly available information.
No publicly available information.