California Student Loan Forgiveness, Explained
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Why Does California Offer Student Loan Forgiveness?
How Does Student Loan Forgiveness Work in California?
10 Student Loan Forgiveness Programs in California
1. California State Loan Repayment Program (SLRP)
2. Bachelor of Science Nursing Loan Repayment Program
3. Allied Healthcare Loan Repayment Program
4. CalHealthCares Loan Repayment Program
5. California Dental Association (CDA) Student Loan Repayment Grant
6. Licensed Mental Health (LMH) Services Provider Education Program
7. County Medical Services Program (CMSP) Loan Repayment Program
8. Steven M. Thompson Physician Corps Loan Repayment Program (STLRP)
9. Licensed Vocational Nurse Loan Repayment Program (LVNLRP)
10. Advanced Practice Healthcare Loan Repayment Program (APHLRP)
3 Student Loan Tips
Once the pandemic-related pause on federal student loan payments ends, going back to making payments may be hard on budgets. One solution is to refinance to a lower interest rate, longer loan term, or both, depending on your situation. (The tradeoff is that you’ll be forfeiting federal benefits such as repayment programs.) Find out your student loan refinancing rate. Paying extra each month on your student loan can reduce the interest you pay and so lower your total loan cost over time. (The law prohibits prepayment penalties on federal or private student loans.) Depending on their income, qualified borrowers can deduct the interest they pay for student loans, both federal or private, up to $2,500 per year. The deduction phases out for modified adjusted gross incomes of $70,000 to $85,000 for single individuals and $140,000 to $170,000 for people married and filing jointly.
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