August 24, 2023: State grants $141M in student loan refund to 3,000 healthcare employees.
The aid comes from the MA Repay Program, which the state launched last November to provide financial support to healthcare workers, including psychiatrists, psychologists, nurses, and social workers.
“The MA Repay Program will be life-changing for thousands of our hardworking healthcare professionals while also helping more people enter and stay in this critical industry suffering from workforce shortages,” Massachusetts Governor Maura Healey said.
To be eligible, residents must usually commit to work for a qualifying employer for four or five years.
The most recent application window ran from December 5, 2022, to January 30, 2023.
The Massachusetts program is one of the many state efforts to reduce people’s education debt burden. These opportunities are likely to be especially attractive to borrowers of late.
In June, the Supreme Court blocked President Joe Biden’s nationwide plan to deliver loan cancellation.
“There are many different opportunities for loan release that often go unknown because there is no international database of all student loan forgiveness options,” said higher education expert Mark Kantrowitz.
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