Guide to Kentucky Student Loan Forgiveness Programs
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Kentucky Student Loan Forgiveness Programs
Kentucky State Loan Repayment Program
Physicians, dentists, and pharmacists can receive up to $100,000. Physician assistants, nurse practitioners, certified nurse-midwives, and behavioral and mental health specialists can receive up to $60,000. Registered nurses, registered dental hygienists, and alcohol and substance use disorder counselors can receive up to $40,000.
Kentucky Behavioral Health Workforce Initiative
Applying for Kentucky's Student Loan Forgiveness Programs
Kentucky Scholarship and Grant Programs
Kentucky Educational Excellence Scholarship (KEES)
College Access Program Grant
Kentucky Tuition Grant
Teacher Scholarship Program
Early Childhood Development Scholarship
Dual Credit Scholarship Program
Can You Get State and Federal Student Loan Forgiveness?
Other Methods of Paying Back Student Loans
Federal student loan forgiveness: The Department of Education offers a few student loan forgiveness programs, like Public Service Loan Forgiveness and Teacher Loan Forgiveness. Student loan refinancing: A student loan refinance from a private lender repays your original loans and creates a new private refinance loan. The refinance loan typically comes with a new rate — possibly a lower interest rate, if you have strong credit — and different terms. Carefully consider risks and benefits of refinancing a student loan if it’s a federal loan. You’ll lose access to key government protections and benefits, like federal student loan forgiveness and flexible repayment plans based on your income. Weigh that against typical student loan refinancing rates to decide if it’s worthwhile. Income-based repayment plans: For federal loans, you can access income-driven repayment plans (IDR) if you can’t afford your current monthly payment. IDR plans calculate your monthly payment based on your income and family size. Your monthly payment will never be more than 5%, 10%, 15%, or 20% of your discretionary income, depending on your income-based repayment plan. The Saving on a Valuable Education (SAVE) Plan, which replaces the Revised Pay As You Earn (REPAYE) Plan, cuts monthly payments from 10% to 5% of discretionary income for undergraduate debt starting in July 2024.
Student Loan Refinancing Rates
Frequently Asked Questions
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