Student Loan Forgiveness in New Hampshire

Kat Tretina Updated: April 30, 2019

The national student loan debt is over $1.5 trillion. If you went to college, you likely graduated with a good amount of student loans. Having that debt can affect your daily life, limiting your ability to make ends meet.

Luckily, there may be some ways New Hampshire residents can get some relief in the form of loan forgiveness. There are two different loan repayment assistance programs available to you if you work in the healthcare or legal fields.

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Repayment assistance for healthcare professionals

The New Hampshire State Loan Repayment Program (SLRP) is designed to encourage healthcare professionals to work in underserved or low-income areas. It grants money to be used for student loan repayment to qualifying healthcare workers.

How the program works

If you’re willing to serve full-time in an underserved areas for a term of at least three years — and sign a legally-binding contract — you could qualify for student loan repayment assistance.

How much aid you could receive is dependent on your profession and a three-year service term: 

Primary care physicians, psychiatrists, and dentists

  • $75,000
  • eligible for a two-year extension and $40,000 in additional assistance

Nurse practitioners, nurse midwives, psychologists, mental health counselors, marriage and family therapists

  • $45,000
  • eligible for a two-year extension and $20,000 in additional assistance

Dental hygienists, alcohol and drug counselors

  • $30,000
  • eligible for a two-year extension and $10,000 in additional assistance

What loans are eligible

 Both federal and private student loans are eligible for the repayment assistance program.

How to apply

You can apply for the program online. Applications are reviewed on a rolling basis. Application deadlines are as follows:

  • June 15th for October 1st contract start date.

  • September 15th for January 1st contract start date.

  • December 15th for April 1st contract start date.

  • March 15th for July 1st contract start date.

Repayment assistance for legal professionals

If you’re a lawyer working for select non-profit organizations, you could qualify for a program that would help repay a chunk of your loans.

How the program works

The program issues forgivable loans that are a percentage of your total student loan balance in return for a commitment of service. You use that amount to pay off a portion of your loans.

If you complete your service term, the loan is forgiven. Otherwise, it must be repaid in full. For every quarter of the year that you serve, a quarter of the loan balance is forgiven.

How much you receive is dependent on the program’s funding that year, your debt, and how much other assistance you receive through other programs, such as federal or school repayment programs.  

You must be an attorney employed full-time or part-time by New Hampshire Legal Assistance (NHLA), the Legal Advice and Referral Center (LARC), the Disabilities Right Center (DRC), or the New Hampshire Pro Bono Referral Program (NHPBRP).

What loans are eligible

Both private and federal student loans used for eligible education expenses, such as tuition and textbooks, and living expenses qualify for the program.

How to apply

Every year on or about May 1, NHLA will provide attorneys at the four participating agencies with an application. The application asks for the following information:

  • A list of your debt, including lender name, loan balance, and monthly payments

  • Information about your participation in other repayment assistance programs

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

If you don’t qualify for the repayment assistance programs but still need help managing your loans, one solution to consider is student loan refinancing. With refinancing, you work with a private lender to take out a new loan for the amount of your old ones.

There are several advantages to refinancing. You could qualify for a lower interest rate or a different repayment term with a lower monthly payment, helping you save money or get more wriggle room in your budget.

If you’re ready to refinance your loans, get a quote online and find out how much you can save,

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