Student Loan Forgiveness Options for West Virginia Residents


Kat Tretina Updated: April 30, 2019

The average college graduate walks away with $37,172 in student loan debt, but in West Virginia, the burden is especially hard. The state leads the nation in default rates. 

But did you know that some West Virginians will be able to get their loans forgiven? If you are a primary care physician, nurse practitioner, physician assistant, dentist, or nurse midwife, you could be eligible for loan repayment assistance.  

West Virginia bridge-067299-edited

Repayment assistance for healthcare professionals

To qualify for the State Loan Repayment Program, you need to sign a contract that states you will work full-time in a rural, underserved part of West Virginia. The place where you work must be a non-profit organization and located in a Health Professional Shortage Area

Under the State Loan Repayment Program, you could get up to $40,000 for a two-year service term commitment. If you wish, you can extend your service term for additional repayment assistance. You can add up to two additional years and get $25,000 in assistance a year. If you work a full four years within the program, you could qualify for up to $90,000, which can go a long way in helping you pay off your loans. 

For more information or to apply, visit the State Loan Repayment Program's website

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What if I don't qualify for repayment assistance? 

The State Loan Repayment Program is only for some healthcare professionals. If you work in another field, you won't qualify for repayment assistance. However, you may be able to get some relief from your student loans in other ways. 

See if you qualify for federal programs

If you aren't eligible for the State Loan Repayment Program, you may qualify for loan forgiveness through federal programs like Public Service Loan Forgiveness or Teacher Loan Forgiveness

Apply for an income-driven repayment plan

If you can't afford your federal loan payments on your current income, consider applying for an income-driven repayment (IDR) plan. An IDR plan can help free up more money in your budget each month. Your loan servicer extends your repayment term to 20 to 25 years. And, your payment is capped at a percentage of your discretionary income. 

To find out which plan is right for you, check out this guide on Comparing Income-Driven Repayment Plans

Consider student loan refinancing

If you're not eligible for loan forgiveness or IDR plans, another option is to refinance your student loans. With this approach, you take out a new loan for the amount of your old ones. Your new loan has different repayment terms. You could qualify for a lower interest rate or longer repayment term, reducing your monthly payment. 

Refinance & Save Today With These Leading Lenders

#1 - Nitro Recommended View More Details

Special offers for medical resident and fellow refinance products

  • Fixed rates: 2.63% - 6.25% APR
  • Variable rates: 1.89% - 5.99% APR
  • Minimum credit: 650
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Visit Splash View Loan Disclosure

Splash Financial is a leader in student loan refinancing with new rates as low as 2.63% fixed APR 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.

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Ability to apply for cosigner release after 24 consecutive payments. 

  • Fixed rates: 2.99% - 6.12% APR
  • Variable rates: 2.00% - 5.50% APR
  • Minimum credit: 680 (640 w/ co-signer)
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Visit NelNetBank View Loan Disclosure

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.

  • VARIABLE RATES: Rates as low as 2.99% APR
  • FIXED RATES: Rates as low as 2.00% APR
  • AUTO DEBIT SAVINGS: We’ll knock .25% off of your interest rate when you enroll in auto debit. See Disclaimer
  • NO ORIGINATION FEES: No application, origination, or prepayment fees on Nelnet Bank loans.
  • HARDSHIP PROTECTION: Hardship forbearance helps protect against unexpected loss of income. See Disclaimer

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

#3 View More Details

For every loan they fund, they contribute to the education of a child in need

  • Fixed rates: 2.83% - 6.74% APR
  • Variable rates: 1.99% - 6.84% APR
  • Minimum credit: 660
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Visit CommonBond View Loan Disclosure

CommonBond was founded in 2011 by three MBA graduates from the University of Pennsylvania’s Wharton School who wanted to help their peers escape from high-interest student loan debt. Its original focus was on grad students, but it has since expanded to cover undergrads as well.

Of all the companies we reviewed, CommonBond has some of the best customer service. The company prides itself on being easy to reach by email, phone, or live chat. It offers networking events, expert panels, insider newsletters, and even has a program help borrowers who lose their jobs to find new ones. CommonBond also makes you feel good about choosing to refinance with them by donating money to an education nonprofit for each loan they write.

CommonBond Student Loan Refinance review

  • Unemployment protections - If you lose your job or decide to go back to school, you can delay your payments for up to 24 months.
  • Social promise - For every loan they fund, they also contribute to the education of a child in need.
  • Hybrid loan option - Offerings include a 10-year hybrid loan with fixed interest for the first five years, and variable interest for the final five.
  • Referral bonus - For every friend you refer who refinances their loans with CommonBond, you’ll earn a $200 cash bonus.
  • Qualification - Borrowers must have graduated at least 2 years prior if they want to apply without a co-signer. And borrowers in 6 states – Idaho, Louisiana, Mississippi, Nevada, South Dakota, and Vermont – cannot currently refinance through CommonBond.

Get a personalized review of your refinancing options with CommonBond today.

#4 View More Details

16 different loan term options – more flexibility to pay down your loan faster

  • Fixed rates: 3.24% - 5.54% APR
  • Variable rates: 3.34% - 5.69% APR
  • Minimum credit: 680
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Visit CollegeAve View Loan Disclosure

College Ave Student Loans offers major help and minor stress. We’ll help guide you through the process to find the right loan term and interest rate for you and the family budget.

  • Fast rate check: Get your new rate in 60 seconds 
  • Instant credit decision
  • Super flexible terms: 16 loan terms available from 5 to 20 years
  • No fees to apply

Click here to see more College Ave offerings and to start saving today! 

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

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Visit Earnest View Loan Disclosure

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.

#6 View More Details

SoFi is the leading student loan refinancing provider. 

  • Fixed rates: 2.99% - 6.88% APR
  • Variable rates: 2.25% - 6.43% APR
  • Minimum credit: 650
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Visit SoFi View Loan Disclosure

$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.
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  • 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.

#7 View More Details

Works with 300+ community lenders for higher approval chances

  • Fixed rates: 2.95% - 7.63% APR
  • Variable rates: 1.90% - 5.25% APR
  • Minimum credit: 660
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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.

LendKey Student Loan Refinance review

  • 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.

Get a personalized quote from LendKey now.

#8 View More Details

Operates in all 50 states; 2nd largest student loan refinancing lender

  • Fixed rates: 3.00% - 6.20% APR
  • Variable rates: 1.99% - 6.10% APR
  • Minimum credit: 700
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Visit Laurel Road View Loan Disclosure

Laurel Road is a national online lender with customers in all 50 states, the District of Columbia, and Puerto Rico. Many of our non-bank competitors are not able to lend in all 50 states.Laurel Road has grown to be the second largest player in the student loan refinancing space in large part because of our reputation as the go-to low rate provider.

Laurel Road Student Loan Refinance Review

  • National reach - Online lender that is available in all 50 US states, the District of Columbia and Puerto Rico.
  • No fees & the lowest rates in the space - Laurel Road is the most transparent about the rates they provide customers, and offer the lowest rates where it counts. Our customers will save more than $20,000 over the life of their loans on average. 
  • Customer service reputation - Laurel Road's customer service representatives are no rookies. With 19 years of experience on average, Laurel Road’s Customer Service team delivers an experience that is best in the industry. They work to build meaningful, life-long relationships with our valued customers to improve their overall financial wellness.
  • The stability & security of a bank - They are a division of Darien Rowayton Bank, a stable and secure FDIC-insured bank, regulated by the FDIC and the Connecticut Department of Banking.

Get your personalized, pre-approved rates in less than 5 minutes.

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