Student Loan Forgiveness for Arizona Residents


Kat Tretina Updated: May 1, 2019

Student loan debt is higher than ever, and the burden on new college graduates can be severe. In fact, research shows that it will take most graduates nearly 20 years to pay off their loans.

If you’re a healthcare professional in Arizona, you might be able to qualify for student loan forgiveness through the Arizona Student Loan Repayment Program (SLRP). The program is designed to encourage healthcare professionals to work in underserved areas of the state.

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Student loan forgiveness for healthcare professionals

The program is open to physicians, dentists, midwives, mental healthcare providers, pharmacists, and physician assistants.

The Arizona SLRP provides up to $65,000 in repayment assistance for physicians and dentists in return for a two-year commitment. Other healthcare professionals can get up to $50,000.

If you decide to stay in the program longer than two years, you can get even more money. Physicians and dentists can receive $35,000 a year for every additional year of service, and other healthcare providers can get $25,000 per year.

The application period for the Arizona SLRP open in mid-April each year; all applications must be received by June 1. You can get more information and apply online via the Arizona SLRP website.

What to do if you don’t qualify for Arizona loan forgiveness

Unfortunately, forgiveness programs in Arizona are limited. If you’re not a healthcare professional, you are responsible for repaying your loans on your own. However, if you’re struggling to make ends meet, it’s important to know there are other ways to make your loans more manageable.

Apply for an income-driven repayment plan

If you have federal student loans, you can apply for an income-driven repayment (IDR) plan. Under these plans, your loan servicer will extend your repayment term and set your monthly payment at a percentage of your discretionary income. Depending on your loan balance, family size, and income, you could have a payment as low as $0.

Your may also be able to have your loan forgiven after 20-25 years. However, be aware that you'll have to pay taxes on the forgiven balance. 

Consider student loan refinancing

If you have private loans or a mix of federal and private loans, another option is to refinance your student loans. With this option, you work with a private lender to take out a new loan for the amount of your current ones. The loan will have completely different repayment term than the old ones, including a new monthly payment, interest rate, and repayment term.

If you need help with your monthly payment, you can extend your repayment term and dramatically reduce your monthly bill. Or, you can get a lower interest rate and become debt-free faster.

Find out how much you can save and get quotes from lenders in just a few minutes with our refinancing calculator.

Refinance & Save Today With These Leading Lenders

#1 - Nitro Recommended View More Details

Special offers for medical resident and fellow refinance products

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  • Minimum credit: 650
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Visit Splash View Loan Disclosure

Splash Financial is a leader in student loan refinancing with some of the lowest fixed in the industry which can save you tens of thousands of dollars over the life of your loans. No application or origination fees and no prepayment penalties. Splash Financial is in all 50 states and is intensely focused on customer service. Splash Financial is also one of the few companies that offers a great medical resident and fellow refinance product. You can check your rate with Splash in just minutes.

  • Low interest rates – especially for graduate students
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Ability to apply for cosigner release after 24 consecutive payments. 

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Give Your Life’s Journey a Jump-Start.

If you’re ready to put student loans in your rearview mirror, Nelnet Bank student loan refinancing offers low rates and flexible terms to help you start getting ahead.

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See How Much You Can Save: Estimate your savings with a student loan refinance from Nelnet Bank.

#3 View More Details

ElFi offers top-rated customer service, some of the lowest rates available, and flexible terms to fit your goals.

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Student Loan Refinancing Made Simple.
Discover our low rates and fast, no-fee application process for refinancing your student loans or financing your college education.
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SoFi is the leading student loan refinancing provider. 

  • Fixed rates: 3.49% - 7.99% APR
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  • Minimum credit: 650
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$30 billion+ in refinanced student loans. SoFi has some of the lowest interest rates and, unlike the other lenders we reviewed, there's no maximum on the amount you can finance. Some state restrictions may apply.

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Save thousands on your student loans and pay off your loans sooner. Find your rate.

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Works with 300+ community lenders for higher approval chances

  • Fixed rates: 2.49% - 7.75% APR
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Visit LendKey View Loan Disclosure

Connecting student borrowers to a network of over 300 community lenders with low interest rates. By partnering with these lenders, LendKey is able to give consumers direct access to the best rates available from the most borrower friendly institutions. As the servicer of all loans obtained through its platform, you can rest easy knowing your personal information will be safe and that the best customer service team will be ready to answer your questions from application until your final payment.

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Best for borrowers who want to customize their repayment schedule to pay off debt fast.

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Using technology, data, and design to build affordable products, Earnest's lending products are built for a new generation seeking to reach life's milestones. The company understands every applicant's unique financial story to offer the lowest possible rates and radically flexible loan options for living life.

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