House passes partial forgiveness for medical student loans
March 3rd, 2008 Posted by: Dr. Cox
Washington — Becoming a doctor isn’t cheap. The average debt for medical school graduates is approximately $140,000, according to the American Medical Association. But the burden could get a little lighter for some medical students under a bill passed last month by the House.
A provision inserted into legislation reauthorizing the federal government’s student loan programs would allow medical specialists with five or more years of graduate medical education to qualify for up to $2,000 in loan forgiveness annually for serving in areas of need. The maximum amount would be $10,000 for five years of service.