.png)
If you're lucky enough to live in Florida — the state with beautiful sandy beaches and sunny weather — you should know what the state offers in terms of student loan relief. Florida, like other states, offer opportunities to cancel, or discharge, all or part of your student loans.
The state offers two programs, designed for two specific careers or fields that meet a need in the state. In essence, these programs give some Floridians a way out of their debt.
If you're a resident, here are the state programs offered to you.
Nursing Student Loan Forgiveness Program
Are you a nurse in the state of Florida? You may qualify for up to $16,000 a year in loan repayment aid over four years. The goal of this program is to reward those working with underserved populations and in low-income areas. Applicants must be licensed as an LPN, ARNP, or RN in Florida and must work full-time in areas designated to have critical nursing shortages.
Eligible sites for employment include:
- State-operated medical and health care facilities
- Public schools
- County health departments
- Federally sponsored community health centers, and
- Certain teaching and children’s hospitals.
Applications are accepted each quarter.
Florida Bar Foundation Loan Repayment Assistance Program
For lawyers employed at Florida legal aid and legal services organizations, this program offers up to $5,000 per year. This effort is meant to boost recruitment and retainment of legal aid and legal services staff attorneys at Florida Bar Foundation partner organizations.
This assistance program works a little differently in that, if you apply and qualify, the Florida Bar Foundation gives you a loan of up to $5,000 that you'll use to pay down on your student loans. Applicants must remain employed at least part-time for the entire year, and at the end of that year, the foundation will forgive its loan to you. If you keep working at the qualifying organization, you can get another loan.
More information is available at the Florida Bar Foundation website.
Federal programs
Loan forgiveness programs offered by Florida aren't the only way to cancel some of your debt. In fact, one of the best known is the Public Service Loan Forgiveness program, a federal program that forgives student loan debt if and after you make 120 qualifying payments.
See also: How to Apply for Public Service Loan Forgiveness
Teachers, medical professionals and military personnel also have opportunities for loan cancellation.
If you don't qualify for student loan forgiveness programs, there are still other ways for you to pay down your debt without going broke. Consolidation and refinancing are two common ways that people use as a way to get a grip on their finances. Find out which option is best for you.
View More Details
Special offers for medical resident and fellow refinance products
- Fixed rates: 4.39% - 9.24% APR
- Variable rates: 2.50% - 9.24% APR
- Minimum credit: 650
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
- No application or origination fees. No prepayment penalties.
- Co-signer release program - you can apply for a cosigner release form your loan after 12 months of on-time payments
- Specialty product for doctors in training with low monthly payment
Click here to see more of Splash's offerings and to see how you can save money.
View More Details
SoFi is the leading student loan refinancing provider.
- Fixed rates: 3.99% - 8.24% APR
- Variable rates: 2.49% - 7.99% APR
- Minimum credit: 650
$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.
- Serious savings: Save thousands of dollars thanks to flexible terms and low fixed or variable rates.
- No hidden fees, no catch: No application or origination fees. No pre-payment penalties.
- Fast, easy, and all online: Simple online application and access to live customer support 7 days a week.
- Access to member benefits: SoFi members get career coaching, financial advice, and more—all at no cost.
- 98% of surveyed members would recommend SoFi to a friend
Save thousands on your student loans and pay off your loans sooner. Find your rate.
View More Details
Works with 300+ community lenders for higher approval chances
- Fixed rates: 2.49% - 7.75% APR
- Variable rates: 1.90% - 5.25% APR
- Minimum credit: 660
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.
- Lightning fast rate check - 2-minute rate check with no impact on your credit score
- More lenders, more options - see the best offers from over 300+ community lenders for higher approval chances
- Life of loan relationship - With LendKey, your personal information will never be sent or passed on to third parties. Their customer service team is with you from the moment you land on their website until you've completely repaid your loan.
- Unmatched benefits- Community lenders put people over profits and offer unique benefits like cosigner release after 12 on-time payments, interest only repayment options to keep monthly payments low, the largest unemployment protection period in the market, and more.
View More Details
Best for borrowers who want to customize their repayment schedule to pay off debt fast.
- Fixed rates: 4.39% - 8.99% APR (with 0.25% autopay discount)
- Variable rates: 3.99% - 8.29% APR (with 0.25% autopay discount)
- Minimum credit: 650
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.
- Commitment-free 2 minute rate check
- Client Happiness can be reached via in app messaging, email, and phone
- No fees for origination, prepayment, or loan disbursement
- Flexible terms let you pick your exact monthly payment or switch between fixed and variable rates
- Skip a payment and make it up later
- Online dashboard is designed to make it easy to apply for and manage your loan
Click here to apply with Earnest and to see how much you can save.
I reduced my student loan payment by $152 per month, by refinancing thru Nitro
